Peter’s been on an anti-Bitcoin tirade. Peter was very excited about Gold’s rise to 1.8k per ounce. But 50 US dollars in 1960 has the same buying power as 475 US in 2021. Which means the value of gold has depreciated since 1960.
BTC, and blockchain technology was created in 2009. It went from the current value of Shiba Inu to an all-time high of 69,000 to 43,000. Now for the people home that need some help getting it. That’s an exceptional return on investment.
Gold is a decent store of value but it has no utility as a currency. Bitcoin on the other hand can operate as both. I can carry 1,000 Bitcoin on my phone or nano ledger while walking around. Nobody will know.
If I try to carry a significant amount of gold while walking through town. I’ll be slowed down, and probably robbed. Gold fell out of favor because it’s not easy to transport.
Now Peter is financially invested in the precious metals industry. So, I understand his preference. But the man is clearly dishonest, and arguing in bad faith.
This next bit I thought of at work. So, I’ll have to piece it back together a bit. The restaurant business is very taxing on the mind.
Ivy league graduate Curtis Yarvin aka Moldbug should actually be considered a prophet. His ideals are slowly coming to fruition. Although he wasn’t the first to predict what’s coming. Science fiction authors, and game developers said it first.
Opposition to Bitcoin, and cryptocurrency in general is routed in the realization that they are obsolete. Traditional finance bros are doing everything they can to stop it. Even resorting to using the federal government as a tool.
The styles of governance that developed out of enlightenment ideology, and Westphalian sovereignty are in trouble. The rise of cryptocurrency, corporations, and NGOs has changed the paradigm.
Regular democratic governance structures has been reduced to a tool. We’re reverting back to a pre-enlightenment order with futuristic characteristics. Sovereign corporations, merchant republics, and kingdoms are the future.
People like Elon Musk, and Mohammed Bin Salman are genuine elites. Elon Musk & Jeffrey Bezos would have been sitting in the East India Trading Company headquarters discussing potential trades. Amazon definitely looks like it’ll be the next East India Trading Company.
Western neo-liberalism lacked an answer to soft populism, and now they’re larping as East Germany. They seem to not care about answering the old order 2.0 question. Because returning to it benefits them.
The old order gives the wealthy, and the noble permission to be who they are. This is why Curtis Yarvin, and Robert Filmer should be studied. Because that’s where Western civilization is going.
Peter Schiff’s anti-Bitcoin tirade, and tweeting at El Salvadoran President Nayib Bukele reeks of insecurity. He’s upset that crypto is getting more investment than precious metals. He’s losing money.
Nayib Bukele implicitly understands that the old order is coming back. That’s why he chose Bitcoin as a currency, and Algorand Foundation’s ecosystem to get it done.
I’m not invested in Bitcoin but it’s the Father of the crypto. Algorand, Cardano, Polkadot, and Avalanche are more my style. The cryptos I prefer wouldn’t be here without it.
Dartmouth college had a lecture on what Capitalism needed. I’m going to talk about what I think capitalism needs. Before I actually watch the lecture itself. The lecture itself
We need a retro-futurist approach to the economy. Look at what worked in the past, and look at the future. Keynesianism is economic cocaine. Feels great when you’re on it but the crash isn’t a good experience.
Mercantilism, and the American School aka the National System worked. The currency retained it’s value, and you could live a decent life. Socialism with Chinese Characteristics is working for the People’s Republic. Lee Kuan Yew’s vision transformed Singapore into an economic powerhouse.
The philosophy behind cryptocurrency, and it’s technology must be embraced. It can help stabilize capitalism. Chaotic business cycles aren’t good. Keynesianism, and pure laissez faire couldn’t solve the problem.
New technology, and good Ideas are needed.
We also need to consider automation to reduce the need for economic migration. Automation will reduce the labor supply. A smaller labor pool makes the value of an individual worker go up.
A worker that feels more valuable is a happy worker. Happy workers are more productive than sad workers. Universal basic income also needs to be implemented. So, that we are free to pursue our true path. If we choose to do so.
It’ll also help displaced people support themselves while retraining for a new career.
I’ve given thoughts on how to improve Venezuela, and Communist Party USA . These could be applied to Western capitalism too. Because essentially what I’m doing is combining communism & capitalism. There’s also some unique ideas that haven’t been explored too much.
Now I’ll listen, and react to the lecture.
The professor is explaining what Capitalism is, and what’s needed for it to work. John Campbell believes current economic experts need to look to the past. That’s something we agree on.
The presence of upward mobility or the perception of it is something Adam Smith felt was important. I feel like equality is going to be the primary focus of this lecture. He’s praising the Nordic countries. Very typical of left leaning academics. Praising successful models in tightly knit small countries, and wishing to apply it to an empire.
The USA was an empire in the traditional sense, and is now an empire in an economic sense. But with some leftover elements from it’s past. Manifest destiny, and all that.
He brings up anti-immigrant sentiment, and right wing nationalism. Notice that he differentiates between left wing, and right wing nationalism. That’s an interesting detail although probably not intended the way I’d like. Social cohesion is very important for any community. Especially a large capitalist society like the United States.
Most forms of economic migration are unnecessary, and can be considered a type of indentured servitude. Because we’re exploiting people that are trying to improve their own lives, and send money back to the motherland. Of course, their presence is going to anger the host population.
You’ve got to take in-group versus out-group bias into consideration. This is a naturally developed part of the human mindset. People are going to be more comfortable with familiar faces. If unfamiliar faces are taking jobs or something. It’ll trigger a reactionary response from the host population.
The solution is automation because it’ll reduce economic migration down to a optimal number. The only form of economic migration that will remain will be high skilled migration. Higher achieving folks tend to be less prone to populism. A highly meritocratic environment suits them.
But humans are a fairly communal species with elements of individualism splashed in the mix. With automation also comes universal basic income. As you can see there are some reoccurring themes in this blog post.
The actual lecture itself is only twenty five minutes long. He talks about the pandemic’s effects a little bit, and then answers questions.
Pro Wrestling NOAH: YO HEY vs Tadasuke
Great fast paced competition as always. Corgan’s NWA should sign a cross-promotional deal with Pro Wrestling NOAH. YO-HEY should compete for the junior heavyweight championship. Tadasuke has a good bit of momentum. But he couldn’t keep YO-HEY down for long. Some high risk offense, and the beginning of a twenty count. YO-HEY is in control.
Tadasuke found a second wind, and practically took his head off. Tadasuke is the winner. This is the second YO-HEY match that I’ve covered. He’s lost both. What’s up with that, Bro? You’re better than this.
Baron thoughts 