Max, Max, Max. I am sorry. I was blind. You were right, I
was wrong.
Why couldn’t you just tell me how you felt? What Bitcoin
really meant to you? Why it is truly unique? You said it is beautiful and
elegant, you described it as special.
WHY Max? Why did it end this way? Can I do something to fix
our relationship? Our time apart has made me realise that BITCOIN is really
special, precious. You just did not communicate it clearly or perhaps I just
did not understand.
Can we see a counsellor? Once you read this email perhaps
you will see how I misinterpreted your explanation. I am hoping you understand
my words were harsh, I tend to talk a different language when on the defensive.
DEEP BREATH… HERE GOES.
There was a time I thought I knew it all. A time when I thought
I understood money, the way it was created, circulated, used and abused. I
supported you Max and stood right beside you when you were fighting against the
banks. I miss those days, think about them a lot. We were a team, we dared to
dream we could make a difference, motivate support and usher in a new
zeitgeist.
Are you seeing someone else now? I noticed you dating and
courting that actor comedian last week, what’s his name? Russel Brand? Is it he who you choose to conquer the world with?
I want you back Max, so here is why I was wrong on Bitcoin –
I was wrong on Bitcoin and its potential because I was so
stuck on you comparing it to Gold. I thought you were off base with that. It
was a deal breaker for me and that began my frustration and fostered my resentment. I couldn’t reach you, you
closed me down and refused to talk.
So this is my letter to explain. I confused your message and
hyper focused on you comparing bitcoin to gold. I misinterpreted your focus on
central banks and banks in general. I acknowledge that central banks can “print
money”, I see the incestuous relationship between the financial sector and the
policy makers. It really is a case of who co-opted who and trying to answer
that is as impossible as trying to solve the chicken and the egg scenario.
You have a complex mind and a unique filter on the way you
view the world Max and let’s face it, I am not at your level nor am I a mind
reader. I wish to convey so you are aware that at times connecting the dots is a more arduous task than you might otherwise think for me. This being said our time apart has made me think about where your mind was at with
Bitcoin.
I had the light bulb moment last night as I joined the dots to see that Max understands “endogenous
money” and the role it plays in the creation of economic cycles. Max, you
understand that if history is anything to go by the incestuous relationship
between banksters and government will go on, as will the cycles.
There was an opportunity for real reform when Obama said “Yes
we can” before his first term as president. The markets were in turmoil, it was
clearly time to change the system and reform the banking sector and financial
sector in a meaningful way.
We got nothing, nada, zilch! It turned out to be a
pretend-a-thon watered down policy and quickly “yes we can” turned to a bank
lobby forced “maybe we won’t”. I feel you Max, I now understand your cynicism.
It broke my heart that your crusade at times might see some people hurt whilst
ignoring the end goal that global
acceptance of Bitcoin may just put an end to these vicious economic cycles.
Bitcoin can help with this. Bitcoin takes power out of the
politician’s hands, and the banksters ability to lobby for that power. Bitcoin
means we do not need to answer the who co-opted who nor solve the chicken or
the egg question.
Bitcoin can control “endogenous money” creation and when it
is all said and done a decentralised system means each individual becomes their
own bank where they assess their own risk and control the value they get for
their bitcoin. They are not subject to Central Bank currency wars and the
impact on their purchasing power.
Bitcoin understands “endogenous money”, that is all you had to
say to me MAX. It is beautiful because whilst other theories like Modern
Monetary Theory and Keynesian, Austrian schools of thought have some great
individual aspects, they fail to really understand how to control “endogenous
money” and to empower individuals to make their own risk assessment not leave
it to the banksters and politicians.
Professor Steve Keen has the idea, post Keynesians
understand. Banks create “endogenous money” out of thin air so controlling that
involves a raft of policy changes we know we will never get because Banks don’t
want to be controlled or restricted and politicians want to get re-elected.
Bitcoin controls endogenous money and puts the risk back in the hands of
individuals.
A decentralised power
base reduces exploitation to individual transactions whereby one individual decision
does not put another person’s bitcoin at risk. Bitcoin by design restricts the ability
for collective extractionist avenues such as those explored by institutions
like the banks and financial sector that triggered the last financial crisis.
A Bitcoin dominated monetary system creates a more organised
decentralised individual control of endogenous money and that makes it
Beautiful and elegant. It does not make it gold, but it does make it precious
and special. It can work to grow a capitalist economy by attacking the root
cause of economic cycles which is the predatory creation of endogenous money.
More on this less on the “bitcoin is just like gold” and the message would
resonate.
May I suggest perhaps a Keiser Report with Professor Keen on the integration of
Bitcoin and Post Keynesian theory on endogenous money might be a great way to
clear the air between you and I, after all, I have never quit respecting you, I
was just hurt!
Hope this email reaches you through my twitter network and
that you find it in your heart to accept my apology and see it comes from a
genuine place (and you find the humorous side to my message)
Best Regards,
Phil
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