The post Op-Ed: Crypto Matters: Government Money Won’t Create Value appeared on BitcoinEthereumNews.com.

Fiat currency isn’t your friend. The money of today is controlled by governments and Central Banks. It is used to hurt the average human. Huge numbers of people on the planet are poor. How do we define “poor” – a person who lives on less than $3.20 a day. Is this the fault of governments? Sort of. But here is the thing – fiat currency is inherently inflationary from a practical perspective. There is no way for unbacked currency to maintain its value when it is created in ever increasing amounts. Fiat currency loses value because it is debt – and governments keep spending more than they have. Add to this equation the impact of fractional reserve banking, and its easy to understand why that fat $3.20 a day isn’t going as far as it used to. But wait – it gets a whole lot worse! Not only does fiat currency rob the poor of their tiny amount of buying power – it also empowers governments and the wealthy. Don’t worry – this article isn’t some socialist nonsense that leads to a North Korean economy. In fact – we think that the only way forward from here is embracing total laissez-faire monetary systems at a global level. Central planners be dammed! Sorry Boomer – Central Banks Mean Central Planning We are not here to teach you any history. It’s boring for most people. In the crypto game – people come for profits. Small problem – crypto profits are measured in fiat currency. Central banking isn’t some agnostic force in the world of money. Banks like the US Federal Reserve have a product – and that product is money (the USD). By issuing one of the most important currencies in the world, the FED has an incredible amount of power. Also,…

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Filed under: News - @ June 17, 2024 11:22 am