> A small group of people controlling the money supply is democracy to you?? What do you see as democratic in the fiat money system?
Absolutely. The current monetary system is controlled by the people. The Fed was created by an act of congress and continues to operate at the whim of Congress. Its mandate is to maintain a low, fixed rate of inflation and maximum employment - while being at arms length of the executive itself to provide predictability and stability across administrations.
The ruling class of Bitcoiners act to manipulate the price both up and down for their own personal gain.
[edit] Doge co-creator Jackson Palmer's analysis is spot on. [1]
Not to mention the Fed chair and board is appointed by Congress. It's meant to be an indirect choice, but it is a choice none-the-less. It's just like how Supreme Court justices are appointed. They have similarly broad powers fairly far removed from the will of the people, moment to moment.
> After years of studying it, I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity. [1]
Absolutely. The current monetary system is controlled by the people. The Fed was created by an act of congress and continues to operate at the whim of Congress. Its mandate is to maintain a low, fixed rate of inflation and maximum employment - while being at arms length of the executive itself to provide predictability and stability across administrations.
The ruling class of Bitcoiners act to manipulate the price both up and down for their own personal gain.
[edit] Doge co-creator Jackson Palmer's analysis is spot on. [1]
[1] https://twitter.com/ummjackson/status/1415353984617914370?s=...