I don’t necessarily like to do so-called ‘annual prediction’ posts. Having written a ton of them for the newsletters I’ve written over the years, looking back on them is always a bit cringe-inducing. But 2021 was a crazy year and one where so much happened that changed the landscape it looks like one of those necessary evils for 2022.
In fact, I may wind up doing more than I normally do.
After being on Bitcoin Magazine’s Fed Watch podcast in December, I was asked to do a 2022 Predictions article for them.
It just dropped over there.
IS 2022 THE YEAR BITCOIN PROVES ITSELF ON THE WORLD STAGE?
It was a fascinating year for cryptos. One in which no matter how hard I tried, I couldn’t keep up with everything that happened. Going to Bitcoin 2021 in Miami and seeing the clash of OG bitcoiners with the gold rush mentality of the industry it reminded me of the best of times at your typical precious metals conference.
Hey, even Ron Paul was there, which is always a treat.
But that said, 2021 was as strange as any year I’ve ever experienced. The real clash wasn’t in the various crypto fiefdoms per se, but what the emergence of crypto as a full-fledged investible asset class meant that grabbed and held my attention all year.
It was beyond the regular bull market mentality that morphed into mania by mid-year. It was the realization that bitcoin and crypto would begin asserting its potential as a safe-haven asset that was finally proven to more than just us fringe Austro-libertarian types.
Because of this the responses from what Michael Malice calls The Cathedral and what I call The Davos Crowd is what the real story was in 2021.
Capital inflow to cryptocurrency grew as China forced out mining and sent that capacity to the U.S. Global economic disruptions thanks to COVID-19 forced radical rethinking of energy policy. Bitcoin was finally exposed as uneconomic subsidized electricity rates in China, for example.
So, given this immense growth in the public mindshare in 2021, the title seems a moot question at first blush. In many ways Bitcoin has already proven itself.
But 2021 was just the warm-up act for the real economic showdown in 2022 between the Great Powers. The old system is clearly failing. It is the way it fails which will inform geopolitical tensions worldwide. These will take center stage as the titans of that old financial and political order fight for dominance over a shrinking pile of capital.
In the middle, bitcoin stands ready to perform the vital role of intermediary and escape valve for potentially trillions in capital seeking a safe haven from that storm.
And it’s very obvious that Davos is scared to death of not having control over the outcome of this story.
Lock it Down, Tune it Up
I spent most of 2021 making the argument that despite the endless procession of headlines and edicts from Davos and its quislings in decision-making positions all across the West, they were making big gains but leaving themselves more exposed to counterattack than they ever have before.
From ridiculous lockdowns to vaccine mandates it was clear that what we were watching was a pre-planned script of second-rate screenwriters. It was a constant barrage of micromanaging public opinion via complicit media, stoking fear to create division to rob people of something far worse than their reason, their reason for living.
But as the year went along the truth about COVID-9/11, the efficacy of masks and the intimidation of the medical industry reached a peak. No matter how much more they squeezed, there was a large enough percentage of people all across the world who simply said, “You know what? No.”
No masks. No jab. No job. No problem. No. No. A thousand times, No.
Because when anyone resorts to the level of bullying, bribing, coercing and lying that these people have engaged in it reveals just how shallow their power truly is.
And it’s plain as day to anyone whose mind is still free.
Too many see this story for what it is, a story for this thing to be successful. A bad horror movie meant to keep the weak and the indebted in a constant fight or flight response, while everyday another person looks up and says, “What in the actual hell are you talking about?”
At some point in every scam the mark confronts the scammer and the scammer then has a choice. Double down or run. Davos still thinks they can double down. Dr. Fauci now thinks he can go out and tell the truth out loud and still have credibility.
But those with real credibility just speak the truth once and the narrative collapses:
Mark Jeftovic noted what I said weeks ago: Omicron would be the end of the COVID-9/11 scam:
Ironically, the fact that the dominant strain is now a head-cold version of COVID should be good news. However, for many this had become a religion.
There will be those who try to cling onto COVID tyranny for as long as possible and in doing so, they will perpetuate a state of hyper-normalization that will be self-defeating.
Hyper-normalization is a phrase coined by the UK documentarist Adam Curtis, and it describes a state where the prevailing establishment narrative is so absurd and demonstrably false that only the most brainwashed True Believers can cling to it. Only the most corrupt and self-seeking policy makers will attempt to perpetuate it. Those who do espouse it are typically the greatest beneficiaries of the dysfunctional zeitgeist.
If you step back and think about the Davos narrative over COVID you realize that this is a plan that says trust the people in charge while also destroying your faith in them. For the hyper-normal, skewering their statist religion will spur them to new heights of violence rather than face their shame.
Eventually, people just get tired of being jerked around by an invisible chain held by blue-checkmarked NPCs on Twitter and tune into the very people, mRNA vaccine developer Robert Malone, they were told they weren’t allowed to listen to.
I told you when he signed the big Spotify deal that Joe Rogan would blow up Davos’ Death Star.
Lies are expensive. The truth sells itself.
Because, eventually, there is a limit to threatening people for disobeying. Eventually people call the bluff.
Eventually people show up en masse and deliver a big “NO.”
The Patchwork Tyranny
COVID-9/11 was simply a means to an end. That end is nothing less than a reset of an immoral financial architecture that has squandered the capital and heritage of the entire West in the vain hope of salvaging the power and prestige of old European money. While Davos sold the Great Reset to that old money and the politicians to save their privilege they would have to fully destroy everything else, namely their subjects, and Build it Back Better.
It was badly premised on the idea that Communism would have worked if only the U.S. and Europe had joined Mao and Stalin during the last major cycle. It was never going to work. There’s too much wealth in the world to pull that off and technology is advancing too rapidly for them to control how we use it to our advantage versus theirs.
So, today we are witness to the willful destruction of some of the oldest cultures in the West, purposefully impoverishing hundreds of millions while simultaneously poisoning them to cull the herd of the unwanted. While we in control group of their grand experiment continue sitting back with our arms crossed saying, “No.”
They get weaker. We get stronger.
What happens in 2022 is Davos getting their plans implemented in a rough patchwork of tyranny. They’ll take the wins where they can get them — Germany, California, Canada, Australia, etc. — and hope it is enough to keep the program moving forward.
But having exposed themselves this badly those that have refused to date will not be bowed. They have nothing left to lose. And the costs of enforcement of this plan are rising too rapidly for it to be maintained.
Bitcoin Fixed Some of This, Too
This is why I think 2021 wasn’t Bitcoin’s year. 2022 is.
2022 is the year that Bitcoin becomes the means by which trillions in capital flee the chaos as Davos splinters, their control over important nodes of economic dynamism slips further and the people have the choice put in front of them clearly.
Your keys, your money. Their keys, your servitude.
Because we’ve reached that proverbial crossroads in time where more beatings ensures morale never improves, instead it hardens into something cold and implacable. As those places most under Davos’ control sink into ever-widening gyres of madness, the capital flight from them will be beyond anything the world has experienced in nearly a hundred years.
No amount of arm-twisting and rule changes will hold back this tidal outflow. It’s already begun. Capital is like water.
And if Europeans are forbidden from moving their money out through normal means, buying property in Florida is always a good bet, then they will use whatever is at hand.
Crypto is definitely one of those escape valves, it’s the thing that ECB President Christine Lagarde fears more than anything else.
So, for my 2022 predictions, it all boils down to the following:
Bitcoin, along with gold, will assert themselves as the premier custodial assets for a world in chaos. Debt will become the dirtiest word in the English language over this period of history.
The trade in both gold and crypto will be volatile and choppy as day-to-day U.S. dollar funding needs will create false moves up and down. The Fed will defend the dollar. Bitcoin will peak and likely fall later in the year as the crisis in Europe reaches its zenith and the four-year bitcoin cycle asserts itself. It will be a titanic fight.
But the early trend will be the same as 2021, up. During the height of the crisis that emerges, bitcoin should be the premier asset of choice which investors flee into.
The groundwork for this capacity was laid in 2021. 2022 is the year it gets utilized. For capital that can’t move into bitcoin and for central banks who need to diversify reserves, gold will remain their asset of choice. Gold will play catchup in 2022 to bitcoin.
Because capital flows to where it is treated best. And despite the volatility, there are fewer places on earth that have the capacity to treat capital better today than Bitcoin.
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BTC: 3GSkAe8PhENyMWQb7orjtnJK9VX8mMf7Zf
BCH: qq9pvwq26d8fjfk0f6k5mmnn09vzkmeh3sffxd6ryt
DCR: DsV2x4kJ4gWCPSpHmS4czbLz2fJNqms78oE
LTC: MWWdCHbMmn1yuyMSZX55ENJnQo8DXCFg5k
DASH: XjWQKXJuxYzaNV6WMC4zhuQ43uBw8mN4Va
WAVES: 3PF58yzAghxPJad5rM44ZpH5fUZJug4kBSa
ETH: 0x1dd2e6cddb02e3839700b33e9dd45859344c9edc
DGB: SXygreEdaAWESbgW6mG15dgfH6qVUE5FSE
Crypto today is like Mary Kay or Tupperware parties in the 1970s (the last time the political establishment went off the rails).
There are plenty of fiat currency substitutes, but the successful ones (that have stood the test of time) all have an intrinsic value. Crypto, just like the fiat it purports to replace, has no intrinsic value. They are the same thing.
You are swapping the full faith and credit of a social network for the full faith and credit of Congress/Fed. As soon as it it politically expedient, both will default. They are the same thing.
Cryptos have intrinsic value. If I take a piece of clay and mold a jug, it has intrinsic value, no? If it has a hole in the bottom, not so much. Why is this so hard to understand?
In the first sentence, you make the claim that crypto have intrinsic value.
Then you make the claim that a lump of clay has intrinsic value, failing to acknowledge that said value is contingent on having a kiln to harden that clay.
Even if true, what does this have to do with crypto?
Apparently you produce clay cups with holes in the bottom. You don’t say why anyone would do this. And more important to your first sentence, what does this have to do with crypto’s lack of intrinsic value?
Having muttered two sentences about clay, you just assume that everyone has been to the same Mary Kay party as you and accepts crypto intrinsic value as a matter of faith.
At no point did you offer a shred of evidence that supported your claim. Instead you argued about the alleged intrinsic value of clay.
Even as a crypto fanatic, you didn’t provide any evidence of crypto intrinsic value — because it has none
What are the traits of a crypto-fanatic? I imagine it is a boss who refuses to pay his workers in cash, or someone who tries to force his bank to settle his overdraught in some nascent unheard of cryptocurrency. Or someone who chains himself to monuments with placards. I am none of the above. I just remarked that a crypto’s value is a function of its design. And since design traits are intrinsic to an object, I think therefore this qualifies as intrinsic value. I am not sure why you took offense.
The only think that makes money money is people believing in it. Gold’s value does not come from its industrial use, and people don’t ware gold because it is pretty. They ware it because it imposes status on others, and because others will accepted as payment in case of emergency fund needs. People who are seek of Government money manipulation want an independent money. Gold is not the answer because most gold is in governments control, and can’t be transferred over n borders without government permission. Bitcoin is global, can be transferred over borders such as Iran, Venezuela or Cuba, and of needed over the U.S. border permissionless.
Read more here: https://tamer.pw/blog/2021/12/07/peter-schiff/
The current BTC ‘Bitcoin’ protocol is NOT global and if it the software remains as it is, can NEVER be global due to its scalability problem. The current BTC bitcoin can only process 7 transactions/second, on average. For comparison to a well-known payment processing network, the VISA network can process 20,000 – 56,000 transactions/second. BTC bitcoin as a peer-to-peer electronic cash system has failed, and this is the whole reason that the blocksize wars happened and forks like BCH (Bitcoin Cash) and BSV (Bitcoin Satoshi Vision) exist.
https://en.wikipedia.org/wiki/Bitcoin_scalability_problem
It is very unfortunate that people are being led astray by propaganda due to lacking the technical knowledge to see through the hype of marketing. The bitcoin narrative has been absolutely co-opted. Bitcoin was supposed to electronic cash, not digital gold, get rich quick scheme. The layer 2 solution being proposed, Lightning Network is NOT Bitcoin, it is Bitcoin IOU. BTC is a transparent surveillance token that does not scale and if people around the world actually tried to use it, the network would clog up and be absolutely unusable. The only way people are using it now is very intermediaries, called exchanges.
The U.S. dollar / fiat are IOU. Bitcoin is not. Lighting well I am not a proponent however I don’t have a problem buying coffee with IOUs as long as it is backed by hard, unconfiscatable money.
Crypto is the modern equivalent of Mary Kay or Tupperware parties. Its not quite a ponzi scheme, but its really close.
Like the fiat currencies it purports to replace, cryptos have no intrinsic value at all. Cryptos are like Blockbuster video — the network that is everywhere today can fold up like a political promise from Congress.
Covid is over. It was mostly hype to begin with, and at this point the TV networks are slow to put scary Fauci on air because no one is buying his cr@p. The man sponsored the creation of covid in the first place, and he had lied too many times to count. If the NIH wasn’t so dysfunctional, they would have fired Fauci long ago.
Saying “NO” to Davos is important. Switching from one ponzi scheme / fear mongering scheme to a different one doesn’t solve anything at all.
Reject Davos. Reject Washington DC. And reject silicon valley. They are all the same.
Government intervention is the biggest PONZI scheme.
Tom, you outdid yourself on this one. Maybe it is so easy for me to give you accolades because it fits very well into the framework I have been constructing in my mind. We all know the world is really and truly screwed up. But 95+% of us are clueless why. Half believe the covidiocy bullsh*t because they are braindead, brainwashed, and blue-pilled. And then there are the 90% of red-pilled deplorables that think our empire-building bullies and their obscene foreign policy to kill or pillage everyone who dissents is justified. Both sides of the political aisle are repugnant. There are no political solutions to the broken systems Washington D.C. and the Davos Crowd have created. It is unfixable. It needs replacing from the ground up.
My own personal beliefs are like yours except taken one step further. Ancient scripture (if that is what you use for your foundation) tells us that in the end, good defeats evil. We know the rulers today are rooted in evil. Is this the end? If so, we will know whether or not the 7 year apocalypse has already started. All I know is I believe bitcoin fixes the world peacefully and with abundance for the masses. That is better than the Davos-controlled tyrants and their Ponzi-schemed fiat money who only want to control the world, by whatever means are necessary. If this means war, enslavement, wanton killing and destruction to satisfy their greed, so be it.
Everyone who wants something left after most of the monetary assets are re-priced, destroyed, or stolen needs to get off zero… TODAY. #BitcoinFixesTheWorld
I agree your assessment Jeff. I wrote a book about it all which began in 2013 following the ‘bank robbery’ in Cyprus when no cops were in sight.
https://www.theburningplatform.com/author/austrian-peter/
Then my colleague at BOOM economics came up with this:
https://boomfinanceandeconomics.wordpress.com/2020/12/12/boom-as-at-13th-december-2020/
C’mon Tom, crypto is a deep state invention…..gold is the only play.
Nonsense
And yet perhaps you can see that for those who hold this view, their motive for opposing you is not that the Davosians have sent them tharn, but that they believe private crypto is a Davosian Warren of Snares into which you are ushering the helpless.
You think you are Bigwig, but if we are right you are Cowslip.
So now the Senate is discussing the climate change implications of the proliferation of private cryptos, and Agustin Carstens is performing a “we need global regulation of crypto” BIS bellydance.
Probably nothing.
I think 2022 might be the Year of the Censor. They’re really starting to flex their muscles and we should egg them on. If Twitter bounces a few more whales like Malone and they all land in Gettr, people won’t have any particular reason to stay with Twitter. Gettr works fine.
It really might not take much. All writers have to do is duplicate their tweets over on Gettr and it acquires much of the value Twitter has to offer. It’s a trivial effort. With little reason to remain loyal to Twitter, people will naturally gravitate to the place where their favorite censored writers can also be found. The sudden shift in the center of gravity could be quite shocking, and very, very gratifying.
The tighter you clench your fist, the more star systems will slip through your fingers!
The Belgian expedition to Antarctica reported that 17 staff out of 25 have Covid.
The staff is has both initial shots, plus the booster shot. They had multiple negative tests before departing, and they quarantined for two weeks in Cape Town before leaving for Antarctica. They were tested again before departure and after the quarantine period.
Their research base in Antartica is hundreds of miles away from anything and everything. No one has been in or out except for the staff there. And yet, two thirds of them are now testing positive for covid.
In more blunt terms, *THEY GOT COVID FROM THE SHOTS*
There is no other way they could get covid from the outside, since they had no contact. They were tested multiple times, before and after two weeks quarantine. One of those tests might have been an error, but not multiple tests. No one had covid going in, and they haven’t been in contact with anyone else.
The only exposure they had is via the covid shots. And now 2/3rds of them have covid.
Its bad enough that the shots don’t prevent infection or transmission, but this story makes it appear that the covid shots can actually trigger covid.
Mr Luongo, two points, if I may.
First, I agree that the Covid story has gotten a little long in the tooth. But you seem to believe that simply because the story has gotten a little stale that it’s all over. One and done, so to speak. I don’t see it that way. This is their move. They are all in. If the phoney pandemic (not necessarily a phoney virus) wasn’t enough something else is on it’s way. Personally, I would lay odds on a cyber attack probably later in the year and probably on the financial markets. With the time and effort that has been put into this I don’t see them picking up their marbles and going home now.
Secondly, perhaps I missed a previous column or two regarding crypto. I’m actually quite surprised to hear your views on Bitcoin. I get crypto. Whether we like it or not, digital currencies will likely be our future. Hell, I guess you could argue that they already are considering the exclusive use of credit cards now by many. But Bitcoin? I don’t see it, at least in the long term. The Fed announced several years ago that they were working on a crypto currency. Some even named it – calling it FedCoin. I will be shocked if sometime in the next two to three years the Fed/Treasury/Congress doesn’t declare all ‘private’ cryptos illegal and roll out their own version. We, of course, will be well and truly screwed at that point.
Speculating further, I believe there were most likely several reasons for the phoney pandemic. But one of the main reasons was due to the fact that the financial wheels were falling off way back in late 2019 and the ‘official’ crypto simply wasn’t ready for prime time. And so they desperately needed cover to throw literally dozens of trillions of dollars at the problem – as a temporary fix. What better reason can you find to inject trillions into an economy with virtually no one complaining about it than by locking down a huge swath of the global economy for a few months?
If I am right, the next couple of years are going to be really devastating to everyone’s pocketbook.
The Covid Communist Doomsday Cult are looking like the lunatic on the bridge crying: “The end of the world is nigh”. People are politely shifting trajectory and walking past. Of course, there will be a hardcore contingent of people who have developped ingrowing masks on their faces, but they are the gourmless minority; sanity can only be waterboarded for so long.
Regarding 2022. Communism can fall apart a lot quicker than you think. If 40% of French people are denied the polling booth on account of parrainage, (not to mention the threats of the unvaccinated being denied the vote), I suspect France will turn apocalyptic. You heard it here first.
It’s highly unlikely governments will allow any real challenges to currency sovereignty. And thanks to ‘know your customer’ laws implemented by the majority of retail exchanges, it’s impossible to keep personal identity and ownership secret for most.
If and when bitcoin threatens the US dollar (or any other serious hegemonic currency) as a preferred medium of exchange, the death-stomp of government jackboots will be heard loud and clear across the world.
There are quite a few court cases in the USA concerning asset protection trusts domiciled in Caribbean island nations. The trusts are as legally unbreakable as advertised.
US Courts have responded by ordering defendants to transfer the assets to US domiciled banks. Of course, if the defendant does said transfer, the assets are no longer protected from litigation.
If the defendant refuses, he/she is held in contempt of court. They are locked in prison until they comply. Their assets are safe, enjoying life on a beautiful island out of reach of the IRS and US based litigants. The owner of the assets is living in a 6×10 jail cell and worried about bending over in the shower.
But the assets are safe!
Crypto, as long as it remains popular, might be anonymous and liquid. But if and when it ever becomes a threat to government issued currency, crypto cult members will discover their crypto assets might be safe, but they themselves are not.
More likely, crypto popularity will wane as it has no intrinsic value and without a government supplied communication network it isn’t viable at all.
Governments can block websites, or if necessary block internet access completely. They can block your ability to move/travel, work with a bank or credit card company, or to own real estate.
Ask Bin Laden or Assange if *YOU* (not your assets) can hide. Your fellow crypto fans will be happy to spend your sh!t coins while you rot in jail.
Yes exactly – I spent a long time trying to explain to cryptopaths that although their assets might be secure, their person was not. For my trouble, I was routinely accused of being terrified of the establishment – too scared to step into the sunlit uplands of cryptocurrency liberty and freedom.
When I hear such things now I think of the scene near the end of Point Break, where Johnny Utah tells the surfer dude that his escape to Mexico is an impossible dream, and that he’s feeling cold because he’s bleeding out, and Bodhi squeaks “Don’t listen to him. He’s just scared!”
Of course Utah was right, and it was Bodhi that was scared. He was in denial, whistling past the graveyard.
No person is safe and therefore no assets are safe by that definition. That was, however, not your point Ivor, don’t try to retcon “Crypto is their revolution, not ours” or “100 days to the end of it” or anything else.
Your arguments are facile and assume omnipotence of those in power when they clearly are not and refuse to accept that competing agendas within members of he cartel will always (and without fail) lead to the failure of the cartel which has been my argument all along.
Crypto isn’t their revolution, but they will try to make it such by subverting it. That doesn’t mean they will win and it certainly doesn’t mean that everything is a big 24d chess maneuver to corral us back into The Matrix.
If these people were so all-powerful why are we still having this conversation?
I hate bad arguments. They are invariably a cover and a coping mechanism for some other deficiency. And I especially hate people who change the rules and definitions of their argument when presented with valid counters which their ego refuses to allow them to accept.
That’s what we’ve done here for the past year+…. that’s the history, that you just attempted to play the victim card is, honestly, pathetic and intellectually and factually dishonest.
But I expect nothing less.
Agreed, it wasn;t my main point. And it’s good to hate bad arguments, and especially facile ones.
I’m not sure it’s ever good to hate people.
I may be mistaken, but if I am it’s an honest mistake. I try to never presume malice in my opponents (at least those that aren’t Davosians or their puppets), only ignorance or (at a stretch) bovine stupidity.
The reason we are still having this conversation is that there is a big difference between “hasn’t and “didn’t” – the day I see Hillary Clinton or any other Davosian perpwalked, I’ll confess my error.
But while they hold sway, and continue to throttle our economies, invent new variants, use the mainstream media to lie to the world, open quarantine camps and work towards their technogulag (despite mounting resistance) I will continue to contend that they are winning this, and plan for the worst. You can continue to exclusively hope for the best if you wish.
Show me a Davosian in chains, or accept they are crafting ours.
“What in the actual hell are you talking about?”
Listening to European Politicians peddling erzatz science, I feel like Dudley Moore in this sketch, except transported into an Eastern European indoctrination camp.
According to the 2021 actuary report from an Indiana based life insurance company, deaths in the USA are up 40% over pre-pandemic levels, and most are **NOT** covid related.
The deaths are from drugs, alcohol, depression, untreated cancer and heart conditions, other life threatening ailments that should have had regular doctor visits but did not because of the “two week” lockdown, etc.
Also, a statistically significant number of elderly seem to have died from loneliesss (no one visiting them in nursing homes — they did NOT have covid or other explainable causes). Actuaries have a statistical measure of how many elderly die merely from old age (no specific cause), and the past year elderly died of no specific cause far more than statistically expected. They died of loneliness, kept away from friends and family.
Anthony Fauci’s actions (together with Ecohealth and NIH/CDC officials) have committed the worst war crimes / mass murders in the history of the US. It no doubt tops the Cherokee trail of tears, because the population is much bigger.
Americans liked to brag that “these colors (red white blue) don’t run” after 9/11. Fauci et al have killed far more Americans and yet no one has the guts to call for Fauci’s arrest? Seal team 6 is going to sit around and have Lloyd Austin do their nails?
I have been reading your thoughts and meditations on LRC for quite a while now. This is the first time I have been moved enough to comment. Being pretty much a “Luddite”, I have little faith in any thing within the cyber world. Bitcoin seems to me to be only a state of mind, unlike hard investments you can physically hold. As one commenter said, None of these digital coins have any real, intrinsic value, only what people put on it. However my real concern about investing in crypto is that anything based in the cyber world can and does disappear. Sure they say block chain technology is impenetrable, but don’t bet on that. I would not doubt that the CIA or some other organization has already broken the code, and at any time of their choosing, your wallet full of crypto will be empty. As for me, I’ll keep habging onto the gold and silver I bought years ago–It is in my physical possession and will maintain it’s value no matter what the money printing banks decide to do next.
Nothing has intrinsic value. All value is subjective. If you’ve read LRC for any length of time you would have taken this to heart
This is the primary fallacy if “gold-only” bugs. Gold has intrinsic value. No it doesn’t.
Everything has relative value based on time and circumstance
I have to agree with that, and should have chosen a better word. Gold, and silver do have other value than “money”. Many industrial uses. Crypto, not so much
Its. Ot about other uses. Its about what we demand. And there is demand for a commodity like bitcoin. By saying bitcoin has no uses is like saying math has no uses. That’s nonsense. Bitcoin is a commodity whose scarcity is secured by math.
“It was a constant barrage of micromanaging public opinion via complicit media, stoking fear to create division to rob people of something far worse than their reason, their reason for living.”
You don’t create division with only one side. You need two. You are admitting to being one of the sides, and therefore part of the plan to rob people from their reason for living.
I probably should have used another term. However gold, silver etc do have value other than money, Just industrial uses make them useful, and valuable. When salt, and other commodities were used as a means of exchange they too had other value. Crypto, like fiat, has no other use, so it only has whatever value those holding and trading it put on it, and can go to nothing in the blink of an eye if conditions are right. Especially that which only exists in the cyber world.
Economists use the word “utility”
So I think you’re agreeing that value is subjective, but the value of precious metals is partly due to their utility. Whereas private crypto has value, but currently has no other utility.
Of course if we were allowed to pay our taxes in private crypto, or it could be used more readily as a currency, then it would start to acquire utility and that might alter its value.
Don’t you guys realize everything is monitored? They have back doors into practically all chipsets. There is no crypto. This was the case from the beginning, a psyop.
After storm Sandy struck the NYC area, many many gas stations only accepted cash. Credit cards were no good, because the communication network — and the power grid — were down for WEEKS. We are talking NYC suburbs, a very wealthy area with powerful members of Congress, multiple CEOs, and in a first world country.
Texas freezing. California loses power constantly. Katrina shut down New Orleans for weeks. Houston shut down for weeks after another storm. And just this week, a section of I95 in Virginia was shut down for a day and a half, because the VA DoT did not prepare for a widely forecast snow storm. Big snow storms appear often in VA history for those who bother to read it.
Crypto maintains its “balance sheet” (transaction log?) on the cloud. It requires reliable electricity and reliable communications. When those fail — and they are failing more and more in the USA — crypto is the same as credit cards… USELESS.
In third world countries, failing electrical grids and intermittent communication systems are an everyday inconvenience.
Assuming the USD continues to resemble third world pesos more and more, the communication and electrical grids that underly crypto will also resemble third world disasters. The same events that are undermining the USD are simultaneously undermining crypto.
Perhaps I should have clarified crypto has no intrinsic value — this means crypto has no value when basic government services (phones, electricity) collapse.
So Dementia Biden is back to threatening Putin over Ukraine. Either Putin obeys, or Biden will throw his sippy cup and piss on all the chairs!!! There was also some gibberish about military action, but everyone knows NATO couldnt handle Serbia and that was easy by comparison. Lloyd Austin is a wuss, and couldn’t execute a retreat in Afghanistan — and that was before he pushed hundreds of Navy Seals out of service because they wouldn’t go along with the Fauci scam.
Putin is reported (in Asian media) to have actually laughed *AT* Biden, before regaining his composure and reverting to diplomatic speak.
Tom still hasn’t given his prediction for 2022… will the US military be next humiliated in Taiwan or in Ukraine? Will Lloyd Austin graduate more beauticians out of the military than last year? Individual soldiers are still soldiers, but true soldiers know that leadership matters A LOT. And the US leadership is downright pitiful.
For what it’s worth, my theory is that Putin is merely being provoked in order to bring him to the global governance table (by threatening to cast him as the antagonist) for when the Davosians launch their fake cyberattack on the global financial system (which the IMF just wargamed)
Pull the plug, blame Putin (or Anonymous hackers) for the resultant economic collapse, and watch as the dupes beg for an emergency universal basic income.
Pay it in whatever global crypto the Davosians then have an excuse to launch (I predict Diem, but it could be something else) and load it onto their vaccine certification (eventually, a microchip implant?). The unvaxed then have to become Edgar Friendly, and it becomes a very Long Emergency indeed (h/t J Kunstler).
Or Tom is right and we defeat them BEFORE all this happens, rather than afterwards.
Fresh off the Soros sponsored smash and grab crime waves in California, the intellectuals in NYC have elected another Soros loser as their DA… and effective today, all sorts of crimes (not just smash and grab robberies) will not be prosecuted in New York City.
You can rob a person or a store at gunpoint, and so long as the gun isn’t fired *AT A PERSON*, then its just a misdemeanor. A person has to be hit with a bullet for the crime to be a felony.
Gun possession, drug possession, selling drugs on your local street corner — all misdemeanors in NYC effective today… well, if you get caught and if they bother to actually charge you. In reality, its not even a misdemeanor unless you are caught and charged.
Hitting or spitting on a NYC police officer **MIGHT BE** a misdemeanor. Shoplifting or outright stealing from a NYC store might be a misdemeanor. Smashing car windows and/or stealing items from a locked/parked car is a misdemeanor in NYC thanks to George Soros. Brandishing a loaded gun, as long as you don’t fire it and hit a person, **MIGHT BE** a misdemeanor, if you get caught and if the new DA determines you are white.
The new NYC mayor Adams is already being called “Deblasio 2.0” by his **SUPPORTERS**. His selection for NYC police commissioner was sworn in in front of a mural glorifying cop killers.
Anyone who thinks NYC is going to come out of the Biden recession in one piece has lost their friggin’ minds!!!
Time for everyone to move in with Tom in FL. NY state is no longer safe for law abiding citizens
Sounds like Feds getting ready to regulate crypto …. prepping the audience…
https://finance.yahoo.com/news/data-crypto-scams-hacks-made-off-with-billions-in-2021-133417507.html
The Cathedral is a Mencius Moldbug/ Curtis Yarvin concept, taking cues from thinkers like Pareto and Mosca, via Burnham.
It’s quite the rabbit hole.