Bimetallism cubed

Screencap from an ad in one of the Reddit bitcoin zones:

Finance is failing and DeFi can fix it. But not yet. Right now the tools for DeFi are not sufficient to allow devs to build secure apps etc.

This is what happens when a cult of inexperienced THEORY MEMORIZERS are led around by galaxy-brain bullies. Every solution must require 58345838769.03 extra layers, and each of those layers must require 678907906.665.15 branches, ad infinitum x infinitum. Such a system is impossible by mathematical definition, WHICH MEANS that the bullies can keep sucking money from the theory memorizers forever. An unachievable goal creates the perfect fraud. No product or value needed, just keep sucking in money. Churches figured this out 2000 years ago.

Of course the entire unfinishable system MUST reside deep inside NSA’s web where the old-fashioned financiers, who are really running the show, can grab all the real money.

You can’t solve the web by going deeper into the web. You can only solve the web by putting down your screen and dealing with real people in real life.

When finance failed in 1932, we took the opposite route and achieved GENUINE decentralization for a while. Local businessmen with long EXPERIENCE in handling money and serving customers IN PERSON developed Scrip systems. No layers, no levels, no web. At that time banks had a data web via telegraph, but the Scrip system didn’t use ANY part of the banking setup because the banks were closed.

FDR then cleaned up the failed central finances, so external solutions weren’t needed. The central finances stayed clean until 1971 when Deepstate and China got together and broke the cleanup.

= = = = = START REHASH:

How do you cure economic abstraction?

I was making the point that MMT claims to cure abstraction by even worse abstraction, like curing crack addiction with flakka. Bitcoin is another reverse “cure”, pulling economics even farther into the world of pure software. You need to cure abstraction by REDUCING abstraction, but you don’t have to go all the way back to gold.

You just need to keep the abstraction MINIMAL and LOCAL.

America discovered the cure ALL BY ITSELF, without government help, in 1933 when FDR closed the banks. As I’ve noted before, a system of SCRIP self-organized almost instantly.

Scrip was not exactly currency; it was more like pre-printed and pre-denominated checks. It was issued by city governments or major businesses or the Chamber of Commerce. All local businesses agreed to use it for paying workers and selling stuff. And it worked.

Populists missed the chance to grab onto Scrip and maintain it. They were still trapped in the pluponent idiocy of bimetallism.

Hawala or scrip is the economic implementation of a principle that’s painfully familiar and even trivial in other areas.

Decentralizing works ONLY when the modules or units share a common ground.

The Chaotizers of Deepstate understand this principle better than anyone. After you eliminate the common operating system, the common understanding of reality, the units will DEMAND a strong controller.

With hawala or scrip, the separate bankers share a common PURPOSE of helping the ethnic group or township. A banker isn’t quite physically incapable of breaking trust, but he knows that the group or township will physically break his legs if he goes wrong, so he remains trustworthy.

Paper checks were the Patient Things that saved us when the banks dissolved. Paper is OUTSIDE THE CONTROL OF NSA. That’s exactly why Deepstate hates it and tries to make total control COOOOOOOOOL with the Agents Provocateurs of Bitcoin and MMT.

%d bloggers like this: