Wednesday, December 15th 2021 - Issue #1131

Let's play the blame game

If you are angry about your cost of living going up the Biden administration has people for you to angrily point your finger at; greedy corporations who are taking advantage of the COVID-19 situation to price gouge their customers. Disregard the fact that trillions of dollars have been added to the Fed's monetary base over the last 24-months. Don't even think about the government signing large spending plans that include more money printing and cuck buck airdrops. Try not to factor in the fact that COVID-driven safety regulations and vaccine mandates have created artificial supply chain bottlenecks that don't allow goods to get brought to market in a timely manner. Your ire is to be pointed at greedy capitalists.

In all seriousness though, this type of blame deflection onto economic actors who have simply been reacting to increasing restrictions thrust upon them by a tyrannical government (that spans both the Trump and Biden administrations) is very dangerous. As our good friend NVK points out, this is the type of justification Stalin used to have the Soviet Union confiscate and mismanage farmland, which led to mass starvation. These words can lead to mass atrocities if the government is able to gin up the masses enough to believe that "greedy corporations" are the actual cause of the inflation many Americans and other individuals throughout the world are currently experiencing.

In reality, we're experiencing high price inflation because of the compounded central planning that we have been subjected to in the form of monetary policy controlled by the Fed and mandates on economic actors initiated by the federal government. This was all very easy to predict. In fact, we here at the Bent predicted that the combination of unfettered money printing coupled with the forced shutdown of industry would lead to high inflation in April of 2020.

The lesson we should be taking away from the last two years is; stop trying to granularly control complex systems. We need to remove the Fed and the federal government from as much economic planning as possible. The way we do this is by adopting a better money in the form of bitcoin, which should bring opportunity costs back to reality, which will lead to better economic outcomes for the whole as capital allocation decisions are forced to be made with much higher scrutiny.

Jeff Deist from the Mises Institute perfectly encapsulates this anecdote in the tweet below.

Fix the money, fix the world. Keep pushing forward, freaks.

Final thought...

And I knew without asking she was into the blues.

Share

Forward

Hope you enjoyed today's issue. If you have any friends that are looking to find out more about Bitcoin have them sign up for this newsletter here:

Get Ƀent

Ƀent noun 1. direction taken, as by one's interests; inclination.

Thanks for reading Marty's Ƀent, a daily newsletter containing all the information I found interesting in the Bitcoin world in the last 24 hours.

Marty's Ƀent - December 15th, 2021 - Issue #1131

Let's play the blame game

Older messages

Marty's Ƀent - December 14th, 2021 - Issue #1130

Marty's Ƀent - December 13th, 2021 - Issue #1129

The Sat Standard - Bitcoin Weekly - Dec 11 2021

Marty's Ƀent - December 9th, 2021 - Issue #1127

Marty's Ƀent - December 9th, 2021 - Issue #1127

You Might Also Like

Ripple warns of deepfake scams amid XRP price surge

Understanding Staking Yields and Economics on Ethereum & Solana

WuBlockchain x Vitalik, Part 1: Ethereum's China Story, Russia-Ukraine War, and BCH's Big Block Concept

Enron is back to launch crypto token focused on solving the energy crisis

VC Monthly Report for Nov, Sets 13-Month Low in Funding Number and Amount

AI Agents Continues To Flourish As Numerous Tokens Soar

📈 Stablecoin market capitalisation hits an all-time high; Crypto.com to be the title sponsor for the upcoming Cry…

US influence over Bitcoin grows with Trump victory

Asia's weekly TOP10 crypto news (Nov 25 to Dec 1)

Analyst warns of ‘leverage driven pump’ as XRP price soars