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Posts Tagged ‘FIAT’

The transition from the Global FIAT Money Economy to The Localised True Economy ‘Exchange’

When the money that we have and use has lost its perceived value – as it is almost certain that it now will, the most orderly transition we could have to The True Economy and our new ‘post Top-Down world’ will not be possible until we leave the money and currencies we have behind and recognise their true value – which is nothing.

Yes, in time we will need to reestablish currency as a practical means of exchange. These new currencies might even still be called $Dollars or £Pounds.

However, we cannot create and develop the True Economy and ensure that the governance is agreed and secured that will ensure we always attribute value to everything in the way that we should, unless we recognise what the priorities dictated by genuine need really are first.

To bring an ordered system that works for all using money as a medium, we have to remember, recall and reinstate the basics of that order before we do.

The process begins first by recognising that money no longer works. It then continues by accepting that to survive and thrive, we must have a system of exchange at least temporarily in its place.

The end of the money system for many will come in the form of a crisis or critical point that they will recognise when they don’t have enough money to secure the basics that are essential to life.

Others will have to be big enough to recognise that the game is quite literally up, and that they can make a positive contribution to change, before avoidable circumstances finally give them an unwelcome push too.

Survival during this period of crisis and transition from the old system to the new, will rely on exchanging whatever we have, or we can offer to others, to secure whatever we need in return.

When we were children, and we swapped sticker cards, sweets, marbles or anything else we no longer needed but might want to exchange for something that we did, the stakes were no higher than the emotional value that you attribute to either. A process which may not have felt like it, but was nonetheless very much under our own control.

When we are faced with the realities of swapping or exchanging anything that we have so that we or the people we care or are responsible for can continue to have the basic foods and goods that are essential to survive and live, the stakes will not feel like they could be higher. For many the emotional entrenchment of that process will reach to the sky.

It is inevitable that bartering and exchange will take place between individuals as reality begins to hit all of us very hard.

However, one-to-one transactions in these circumstances are likely to lead to greater levels of frustration, anger and violence than necessary.

The best way to address social issues in the community quickly and effectively will be to establish a non-monetary Local Market Exchange – that will also form the basis upon which The True Economy can begin.

What is really happening now, that makes ‘The Great Reset’ something that we actually need?

The problem for the politicians, the elites, the people who like trips to Switzerland to have expensive dinners around a table with their chums at the WEF, and ALL the people who remain ambitious to be where they are and just like them – is the system they have created has always been flawed, and because of the things that they have done, it has become inevitable that it is going to completely crash.

  • Nothing is going to work as it has been.
  • The Global Economy and Global Supply Chain is collapsing.
  • The Markets – based on ‘FREE’, non-existent money, are going to crash.
  • Selfish ‘commercial interests have control of all the services, products, manufacturing and services that everyone needs to live and enjoy a basic life – meaning that self-serving individuals and private interests – rather than public representatives – can dictate what qualifies as a ‘good life’ and what should be its £Price.
  • Businesses can no longer sustain the rights and regulations that have been imposed universally, but only work and exist to benefit big companies that are usually shareholder (market) owned.
  • Real life for everyone and the communities that we live in is no longer sustainable, because we have completely lost touch with and don’t even understand the lives and experiences of our own neighbours.
  • We are having our ability to think as individuals labelled as a crime and are instead having our ways of thinking dictated to us by people we will never meet or never know, who appear to speak on behalf of everyone, from an app that everyone seems to have on their phone.

The list goes on. But none of it is sustainable or in the best interests of us ALL.

When the system has crashed – or rather, once enough of us have been touched by any one or a number of the many things that we cherish, suddenly coming to their end, that is the time when we will realise and have the opportunity to understand that none of this is what our lives are really about.

That’s when we will understand and accept that we really do need wholesale change. It is when we will know that the days of the top-down hierarchy have to end.

When, Where & How did all the economic problems we have today really begin?

Okay, so we have to wind back the clock. Not just a little. But a very long way, before we can begin to start a whistle-stop tour of the key events and motivators that have contributed to or rather their impact on everything else have accumulated to create the situation that we are facing now.

Firstly, its important to understand that this is a story about human nature before anything else.

It’s a story about what happens when people obtain power, influence, wealth or a mixture of them all, and either don’t have the moral fibre, ethics or principles to always do the right thing for everyone at the start, or they end up that way because they have been corrupted by what they have experienced or gained along their life path.

Oddly enough, morality and values seem to become increasingly absent across society, the further from general hardship or real hardship that effects everybody within it becomes.

Without the experience of hardship, or ‘making do’, even the poorest members of society can quickly become mesmerised and emotionally tied to an obsession for what they could have, rather than really appreciating all that they have already got.

More wants more. And in 1971, with promises of benefits that could only be unleashed by so-called ‘market freedoms’, deregulation of financial systems and services, and the proposition that an economy unhindered by government will always look out for us all, Neoliberalism was unleashed upon the western world when US President Richard Nixon did away with The Gold Standard, and a world based on FIAT or rather created money was born.

Commercialism had been picking up great speed before 1971, particularly in the United States. The emotional fix of material possessions and the social benchmarking that became definable by ‘showy wealth’ for the masses played perfectly into the hands of those economists with an agenda. False prophets who were able to whisper their intoxicating poison into the ears of politicians and influencers who didn’t have the scruples to know or even suspect any better.

So, with the launch of the FIAT system – that the western world has all but since adopted – a cultural shift from values to ‘money is god’, through a process based on the success of media manipulation and brainwashing was well and truly unleashed.

Levelling Level | Digital Currency, Crypto, DeFi

Digital or crypto currencies will not survive in their current form.

Like the system that cryptocurrencies were created with the best intentions to try and override, it is simply the belief that people have, or the way that people think about cryptocurrencies today that appear to make them work.

The cryptocurrencies that you can buy or trade today may be worth a lot of money. But like the money they might replace, they have absolutely no value at all.

In reality, digital currencies that exist today are as flawed as the FIAT money system itself. They are based on no real value or tangible holding.

It is literally the belief of those who invest in or use the existing blockchain currencies that make them work.

The moment anything happens to shatter the belief in today’s versions of digital currency – as you can be certain that it will – these cryptocurrencies will return to their intrinsic value. That value is zero or nil.

The new ‘local’ way of living will allow the creation of new digital currencies based on real value that is defined by the community that runs it.

That value will be pinned or anchored to the value of input and output (labour, skills, experience) and the true value of the locally produced goods that people genuinely need to live.

We cannot and must not even try to return to a pyramid or hierarchical system that is skewed to allow prices at the foundation of our society to be dictated by actions at the top.

We could very easily and very quickly come to experience a fully functioning system of digital currencies that are locally linked. Currencies that become interchangeable and exchangeable with others, because of how the basic value of input and essential goods are defined.

Levelling Level

The Tory Right named their latest response to it Levelling Up. For decades, Labour and the Left have responded to it with public policy that adds up to levelling down.

But what is ‘it’? Do our politicians actually know what ‘it’ is? What is ‘it’ they don’t understand?

Today, we find ourselves in the early stages of a cost-of-living crisis and a fall in living standards that is the worst since records began. But these are only some of the issues we now face.

Social mobility, debt, housing, energy, inflation or stagflation, healthcare, climate change, education, wealth inequality, fake news, crime, wokeism and many other problems join the list that’s fast growing into this out-of-control crisis that is touching everything we know, too.

Change is happening around us in ways that make very little sense. Yet the messages we hear in the media and from our politicians suggest that everything is as fine as it can be. It is leading many of us to assume that we are alone with our views and feelings; thinking that we must be going mad.

The UK is the person with major health problems. It’s in a beauty salon, where every wannabe politician must be seen as top dog by everyone. But this political class are just the Saturday morning trainees, only able to sweep up and comb hair*. They smile sweetly and tell the Country that having a great look is all it takes to fix the problems experienced by all. Meanwhile, what the UK really needs is every form of medical surgery known, with the mental health care and physical rehabilitation necessary to make every part of our system work together, returning the UK to full fitness and providing fair and balanced lives for everyone in the shortest time possible.

With an establishment obsessed with sound bites and messages, rather than public policy that has real depth, Adam Tugwell unpicks the realities of Levelling Up, levelling down and decades of mismanagement and self-interest from a political class that simply isn’t up to the job.

Adam demonstrates that the broken tools of a flawed political age will always leave someone, somewhere behind, and shows that our politicians are repeatedly failing to create the social backstop that the UK needs to stop anyone being avoidably disadvantaged.

Levelling Level focusses on the inevitable process of change affecting everything around us that underway today. It discusses how we can harness the experiences that will accompany the challenges that we face to make life better by establishing a Basic Living Standard for all.

Levelling Level proposes that it is not money and financial wealth, but people and the way that our society treats its poorest and most vulnerable that underscores our real value, success and health as communities and as a Nation.

Levelling Level is a solution to the UKs problems that works for all.

*The qualified hairdressers are the government officers and civil servants, or people who like to ‘nudge’

The future is bright for digital finance, but today’s Crypto Currencies are as worthless as the FIAT money system they intend to replace. Money must find its place and function without misplaced belief:

January 19, 2022 1 comment

Whilst my interests, writing and commentary in the public sphere appear overtly political, I recognised long ago that every part of life feeds into the cauldron of politics. It’s what the more academic amongst us would colloquially call political economy.

Within a highly febrile environment that increasingly makes less and less logical sense, it makes sense to keep an eye on financial and economic commentary online amongst the channels where real news is still available. It is here that the utterly bizarre nature and the cold-hard reality underpinning trends which are affecting the UK and the whole world, seem to have completely escaped public consciousness and any form of collective rational concern.

We are experiencing a period of history where there are so many elephants in the room, it seems incredible that society hasn’t already been completely flattened by the now trampling herd.

That isn’t to say that a travesty of great magnitude isn’t on its way.

Amongst the dangers that 50 years of FIAT Money, its impact upon financial dealing, the markets, normal life and the Bitcoin-driven rise in cryptocurrencies that were supposedly created to counter it is where much of the coming chaos is likely to begin.

Money isn’t real. Money isn’t a thing. But the belief that we have been conditioned to have in it and the obsession we have with material wealth and the way our lives and status can now be measured by it all to facilitate profiteering and greed certainly perpetrates the myth that it really is.

Money is valueless. It began as a unit or practical means of exchange and up until 1971 when money was de-linked with the value of gold, it at least had a form of tangible value attached to it. Even if that tangible value was based on collective mutual trust to the existence of a precious metal in remote form that we all knew as The Gold Standard.

Creating a situation where that assumed trust in there being real value underpinning the transactional notes and coins in circulation was manipulated to allow people believe that every penny that they have in their pocket or bank accounts has a measurable value. However, in practice it has now been over half a century since it was any such thing.

A FIAT or ‘created’ Money system was always going to be open to abuse, once those ‘on the inside’ had figured out how to get any rules and regulations. Over five decades they have consistently influenced legislator change so that they could effectively create more money and malevolently creative systems to generate more of it whenever they liked. The Great Financial Crisis (GFC) of 2008 was just a taste of what is to come and was only perceived as not being worse than it was because Governments created money for the banks and therefore massive public debts for us that there has been a mysterious mainstream lack of will to talk about.

As this perverse system has increased a cultural belief that money is a real thing, with the perception that it is inherently more important than the product, service, employment or output that generated it, a process of addictive gambling has increasingly taken place. Finance houses, markets and central governments too have effectively created more and more money without that money itself having any practical (or logical) link to gold, products, services, employment or anything else. It has created a growing disparity between what people who have bought into the idea believe to be real and what actually exists. In terms of value, people literally don’t know or understand what is real anymore.

It is a system where the rich get richer and the poor get poorer simply because the rich get more and more of the money as it increases in circulation, whilst the money that the poor have loses value against the goods, services and property that have explosively inflated prices that continually remain easily affordable to the rich.

Whilst it doesn’t fit the narrative of the establishment, big business or the financial sector for everyone to understand that money is created as they see fit and that debt is effectively just a means to enslave the unknowing poor, those responsible have used the publics unwitting trust of historically revered occupations to engage in what beyond the safety of the rules they have created for themselves would be recognisable as criminal acts

No one openly talks about any of this, and the mainstream media leave the subject well and truly alone. The truth of what they have and what they are doing sits conveniently hidden in plain sight and anyone who questions it likely to be cast aside and awarded a tin foil hat as they are unceremoniously thrown back into the masses of the great unknowing.

Yet there are increasing numbers of very intelligent, often highly educated but nonetheless ethical people who are becoming aware of the mechanics of how the travesty of what we call money actually now works.

Indeed, it was one such person who saw the value in creating a finite or limited amount of a currency that sits outside of the influence of arguably corrupt central governments, big business and the financial sector. It was this whole sorry story that brought Crypto or Digital currencies into being primarily as Bitcoin and now in different guises that are growing in number daily.

On the face of it, the blockchain technology that underpins crypto effectively means that even the smallest fraction or percentage of one crypto coin or equivalent unit has or can have a unique identification. It appears to give tangibility or reality to cryptocurrencies that money in the FIAT system doesn’t currently have.

Such coding means that if all money were to be in circulation in that same digital form and no other, every coin or part of it could be traced, located and tracked at any moment in time. It is for this reason that our increasingly technocratic and tyrannical governments and the greedy big businesses that influence them are desperate to digitise central currencies and push all of the privately generated versions as we know them aside.

The flaw in the thinking, whether it be a private, untied crypto or a digital central currency run by the government instead, is that blockchain technology gives genuine value to this ‘money’ right down to the most microscopic level.

The reality is that blockchain, like money is neither real nor a thing. No matter how clever, these blockchain derived digital currencies are no more than a reference tool, a label, a system of measurement and like money intrinsically before it, it is no more than a unit of exchange

Tragically the value of both money and crypto today is still based on the same giant myth or a massively overvalued shared belief.

At some point – perhaps within the 12 months from the time of writing, a financial collapse will take place affecting everything that FIAT money has touched or relates to. Money, nor any other form of currency based on nothing other than thin air will continue to exist and the correction that follows as everything in life returns to its unmanipulated value will be a process most painful for those who have made their life revolve around money and material wealth, when they could and should have exercised more considerate concerns.

It sounds very doomsdayish I know. But many of those who lurk daily within the finance and economic bubbles and play or rather bet on the markets know that those with power and influence have now created far too much money – relative to all the goods and output that genuinely exists. Indeed, the patterns and behaviours associated with everything to do with money, how it is made and how it is managed are following little in terms of any kind of logic. They more savvy amongst them know that the figures and data that is available foretells a cataclysmic change.

In terms of corrections, the pendulum is about to swing wildly the other way from where it has been held for a very long time.

The real value of goods, property and output will be realised as it becomes set against the wild speculation and explosive inflation that printing money has allowed.

We are likely to find that money or new forms of digital currency will go right back to their basic function. One that allows what is in effect multiple-transaction bartering of all the things that are necessary for life such as labour, basic food and the things that we genuinely need to live, so that money becomes purely functionary again, rather than being revered as some perverse value store.

It will serve no legitimate purpose for only one form of currency to exist. All forms of currency will become very localised with perhaps umbrella versions that do link to government to allow the payment of taxes and facilitate travel and the movement of goods between different areas.

The reason this doesn’t make sense today is because it is in the interest of those with influence for it not to do so. Yet tomorrow might be the beginning of a new day for us all when it most certainly will.

It is events now that will decide.

‘Fake it ’til you make it’ is no way to lead a Country and we are now on the brink of seeing our financial and economic system implode

August 9, 2021 Leave a comment

Politics has for a long time relied on the occurrence of unforeseen events to let blagging politicians get themselves off the hook for problems they created that would otherwise be exposed and visible for the whole world to see.

When Covid arrived on the political scene, the scramble to cover up and utilise the dubious promise of an umbrella to hide all previous sins appears to have been too good and opportunity for our political classes to miss. In fact, so much so, the chronology of events makes me wonder if Boris rubbed his hands together at the first emergency Cabinet Meeting and declared ‘ladies and gentlemen; go ahead, go and do your absolute worst’.

Ok. So, the reality might not have been quite like that. Let’s give them the benefit of the doubt here and say the response might not have been conscious or openly calculated at all.

The reason I say this, is because of how important it is to understand just how politics works in the minds of those who supposedly lead us. Especially when there is an entire Parliament full of MPs who should never have been elected and are incapable of really leading anyone. So, at the first sign of a crisis, they are inclined to reach out for any dead horse and flog it in the hope that it will work.

No, I realise that some of you reading this blog are convinced that there is a much more sinister plan at work that underpins everything during the Covid Pandemic that the Johnson Government has done. But we really do have a Government constructed of politicians who are so stupid, unread and inexperienced, that they will willingly embrace any philosophy or set of ideas that any overconfident SPAD or advisor confidently convinces them will work – that is, if they hadn’t found the same textbook first.

Oddly enough, the point I’m going to focus on here is not about the misuse of statistics and behavioural science to manipulate and coerce people to doing whatever or politicians so ruthlessly want. Enough has and will be said about that elsewhere.

No, the area of policy that I want to think about more clearly, is the financial remedies that our Chancellor Rishi Sunak invented. The printing of non-existent money to back the whole lockdown policy up. And the disastrous time bomb waiting to go off that has been building in size for decades but was turbocharged the moment that the Chancellor and the Johnson Government began its massive cash giveaway.

Contrary to the thoughts of many, the events of the past 18 months really are not isolated, other than there being the all-covering veil of a Viral Pandemic underway. The focus that Covid has been given created a cloud of fear and misdirection that has allowed an inept and irresponsible Government to hide or avoid many other troubling public policy issues as if they have simply been removed from the frame.

But money, the way it is created, legislated, revered and actually worshipped – like it is a god, isn’t just a problem making the rich even richer, whilst making life increasingly hard for the middle classes and poor. It is also the elixir of extended political life and longevity of power for gutless politicians with little or no wherewithal who believe there are no problems that cannot be solved if you just produce the public cheque book and don’t give a shit about the real cost.

In the decades up to the beginning of the Covid Pandemic, the recycling of this particular idea and the philosophy that underpins government economic thinking has been quite incredible. Based on flawed neoliberal thinking and the post 1971 FIAT money regime – where FIAT literally means ‘let it be done’, the bizarre approach to money and governance that ‘it will be this way because we say so’ has grown and grown in popularity with the political classes and has appeared to work effectively for 50 years. Incredibly, it even failing to be derailed when private banks that had been let loose from legislation as part of the same ‘free market’ thinking were bailed out with public money following the 2008 Financial Crisis – simply because politicians are so invested in the idea that the system cannot fail and therefore must be ‘helped’ to work.

To anyone who takes these things completely at face value – as the political classes have done – and says to themselves ‘it worked for 50 years, so it cannot possibly go wrong’, there clearly was no limit to what solutions could be conjured up in a crisis and sold publicly as beneficial to all. Whereas what politicians have really been doing with all this invented money – and particularly since the Pandemic began – is place massive bets on everything coming right if enough money is thrown at the problem for long enough. They literally believe that what they are saying, rather than what they are doing, will ultimately prove to be the truth, by faking it until they make it be so.

The money that the Government has been using to prop up non-existent jobs through a continually extended furlough scheme; the money it has used to underwritten crippling loans to businesses that will never be able to afford them, and the money it is now fire hosing at every public policy it thinks will get it out of trouble and win votes is all created – just like successive governments have been doing for decades before.

The money they are using simply doesn’t exist. Yet the politicians are so drunk from drinking at this poisoned well, all they can think of doing is printing even more.

Yes, there really is a philosophy behind all of this that the economists and academics that our politicians listen to insist really works.

You may even be thinking that if this is all true, what is the problem if it works?

The problem is that it doesn’t. It is imagination, dreamworlds and a visit to fantasy land writ large.

Whilst it is certainly true to say that neoliberalism has worked out well over 50 years for the few, it really hasn’t been working out very well for the majority of people. And if the economy were to be viewed as an engine – as it very often is, then just like keeping your foot down on a red-lining engine might see it keep going for longer than expected, the question is always when, not if the engine will blow, and when it does, it will be the whole vehicle that breaks.

Rishi Sunak, Boris Johnson, this Government and the whole Parliament that has enabled them, have literally gone too far with a very dangerous approach to money and economics. One that may have been good whilst it lasted but is about to blow up and create a financial disaster of such epic proportions that not even the WEF are going to know how to pick up and rebuild the pieces so that they can press ‘restart’.

The public debt that is a real legacy of the Johnson era is simply too big for all of us to be expected to pay off this time. No amount of clever accounting and rebranding in terms of future GDP or other ways of calculating national economic output will make this ridiculous level of debt go away.

And Boris & Co. haven’t even done this on their own. Governments right the way around the world have been doing exactly the same things for all this time and have also gone into overdrive to finance an overkill response to a flu-like virus that was never necessary, could and should have been handled very differently and has now made it inevitable that we cannot go on as we have been.

We must rethink everything. And for us to get there, we are about to experience an incredible period of financially derived pain.

If you take the time and watch all the media available to you closely, the signs of what is coming are already beginning to unfold. But they are being covered by the mainstream media only in isolation – that is if they are even being covered by them at all.

The USA economy and the US Dollar’s collapse as the World’s Reserve Currency are looking increasingly likely to be the point where this dreamt up system can no longer function and the whole economic system explodes.

But that’s not to say that it couldn’t all kick off in the UK first. And stories like energy price hikes this autumn that they are that massive financial upheaval for us all is queued up and is about to start.

The biggest problem that we face today, isn’t finding a way to take a foot off the gas and calm the engine. Johnson and all of his chums have already driven the vehicle to the point of destruction and the momentum their policies have created will take this all over the point which was too far.

The problem we have is that when the engine blows, the wheels fall off and everything crashes – as we can now be almost certain that it will, we will still have the same politicians or politicians who will behave just like them left in charge.

The emperor has no clothes. You’ve seen what Boris and this whole sorry excuse for a Parliament did with their response to Covid. Just wait until the real trouble starts.

Bitcoin Crash: Currencies are nothing more than a medium of exchange and crashes are inevitable for as long as they are valued as anything else

Money and how it is used to calculate the value of wealth and even the worth of the people we interact with makes it one of the most destructive and dangerous components of contemporary life.

Without realising they are doing it many people look upon every facet of life and consider it in terms of its financial value, what it might cost, or what it would cost to have it themselves.

Very few od us follow the financial markets or observe the way that the economic system works – whether that be the ‘financial economy’ or the ‘real economy’ itself. But what may be one of the great mysteries of the world is the process that has led money and the possession of it to become the most important factor governing the way that we conduct our lives.

Just as many great ideas have the power to help and improve lives, the creation of money as a unit or medium of exchange passed its point of best use and was evolved or developed to become something that it should never have or was never intended to be.

Money was quite literally a practical way of making the exchange of goods or services work effectively when those engaged in that exchange didn’t necessarily want either the goods or the products or the services that the person they were exchanging with could immediately offer them in exchange for their own.

Money was literally a way of giving a universal value to anything that any person could provide so that they could exchange it for what they wanted from anyone else, and also became a way to transfer value or to exchange over great geographical distances.

Had the development of money stopped there or somewhere very similar, the World would now be and would behave very differently from the way that it does today. 

Money itself has never changed. But the way that money is perceived by people has.

Money is now treated as and believed by people to be a thing in its own right.

Yet nothing has changed. Money is still nothing other than the medium of a system to provide universal exchange for services and goods.

Yes, there will be plenty who read this blog who possess lots of money or the means to accumulate it who will read this and quickly conclude that what I’m saying is absolute rubbish.

Money is not real. But the belief that it is make the consequences and the impact of that belief real for all.

Decades of money creation and the use of economic theories and practises such as the FIAT system and the neoliberal push for ‘free markets’ that never look after the interests of others as they theoretically should, have led to the creation and development of the financial economy.

The financial economy is a theoretical system that has been made real by the belief placed in it. Because of the benefits that can be gained by those who ‘play’ it and propagate it, the financial economy has been prioritised and championed above the real economy. Whereas the real economy represents the real world of business and the exchange of labour and goods. The real economy is the basis upon which everything money or financially orientated should work.

Whilst an economist could easily draw up and describe the models of how the monetary, economic or financial system works so that it looks like and can be presented as being very real, money is literally being created out of thin air.

The anger with a self-serving system of this kind that is directly responsible for much of the inequality that exists around the World is palpable amongst all of those who understand and care about what is going on.

The anger against the system has led very intelligent people who are disenfranchised from the system, to search for, develop and launch what they present to us as alternative monetary systems that work fairly because the work in a different way,

Cryptocurrencies – of which bitcoin is probably the best known – are the result of this process.

The intrinsic problem that all cryptocurrencies currently have is that in the process of their creation, they have adopted the most fundamental flaw that all units of currency are currently built on: They are valued as something or a thing to be possessed that itself has value, when cryptocurrencies or currencies of any kind never have been and never will have genuine value of their own.

Yes, you can become financially rich by buying and then selling Bitcoin or any cryptocurrency that has been listed on an exchange. But the process that leads to gains or losses in cryptocurrency value are little more than luck. Buying and selling cryptocurrencies is not a science and any gains you make through a crypto transaction simply means it was just your time to experience a win. Much like spread betting or investing through hedge funds, investing in cryptocurrency is at best nothing more than making a bet. This is no way to run or influence a system that will affect everyone in the World.

The value of Bitcoin and all forms of currency is the belief that underpins them. Their value is directly related to the confidence that investors have to buy them. Nothing more. So, the moment that something shakes that belief, like Elon Musk floating a comment on social media about how Bitcoin mining isn’t very green – the value of this ‘currency’ begins a downward journey towards the floor. It is only then that you can really begin to recognise the true value of what currencies are worth in themselves. Currencies are worth nothing and no more.

Strange as it may sound, this blog is not an argument against the use of cryptocurrencies. There is no question that money and currency use and the legal and ethical value set that underpins their use must be improved as we head deeper into the 21st century and increasingly use the technology that we have available.

A problem for us all is that the entire monetary system is itself flawed but is being deliberately manipulated by people who understand the system well and continue to engage in dangerous practises without any consideration for the consequences and impact upon others. We need comprehensive change.

Because it is legal or the law allows those employed in financial services and in the banking sector to engage in the practices they have been for many years if not decades before, it does not necessarily make what they do morally or ethically right.

For anyone who has spent time studying law or the way that government works, they will soon realise and understand that the law has a habit of being very late to the party. On its route to get there it is often distracted by self interest or the interest of those with influence.

This manipulation of the deck is something that we can no longer afford if we are to all live in a world which is fair and driven to ensure that the poorest members of society can sustain themselves and that a basic self-sufficient life is something that everyone can easily and comfortably afford.

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