BITCOIN: Fiat money kills incentives and distorts the true cost of Gooferment

Tuesday, December 20, 2022

https://bitcoinmagazine.com/culture/fiat-money-ruins-civilization?utm_source=Bitcoin+Magazine&utm_campaign=df4a8e47fa-EMAIL_CAMPAIGN_2022_11_28_08_28&utm_medium=email&utm_term=0_f7d45fbb67-df4a8e47fa-357073741&mc_cid=df4a8e47fa&mc_eid=386b7b0895

Bitcoin Songsheet: How Fiat Money Ruins Civilization
Fiat money leads to a degradation of incentives, creating a society motivated only by the consumption of resources and zero value production.

Jimmy Song
Nov 17, 2022

*** begin quote ***

When the government can print money, the people that benefit the most are the people that get access to that money first. This is called the Cantillon Effect and it’s the reason why rich people get richer without adding much, if anything. So how does the government determine who gets access to the money? As with everything government related, decisions on who gets what money is determined through politics. And when the money printer is political, everything else becomes political. Politics is a cancer that spreads through the entire market.

*** end quote ***

Fiat money allows the Gooferment to escape any fiscal control.

Worse than that it acts as a hidden tax on all the money in circulation.  Savings silently erode away.

Think “penny candy” and then pickup your pitchforks and torches to destroy the FED.  

The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians.

#endthefed

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GOVEROTRAGEOUS: Airlines are “zombie companies” due to Gooferment bailouts

Tuesday, April 12, 2022

https://bitcoinmagazine.com/culture/bitcoin-songsheet-airline-miles?utm_source=Bitcoin+Magazine&utm_campaign=4e1027bcbe-&utm_medium=email&utm_term=0_f7d45fbb67-4e1027bcbe-357073741&mc_cid=4e1027bcbe&mc_eid=386b7b0895

Bitcoin Songsheet: Airline Miles Are The Original Altcoins

  • Airline miles are the original altcoin, allowing zombie companies to issue value for nothing while encouraging people to be “Miles Chasers.”

Jimmy Song
Apr 11, 2022

*** begin quote ***

Because governments view airlines as a display of national prestige, there’s a tendency to bail them out of their troubles. The three major U.S. airlines (Delta, American and United) have gone through at least one bankruptcy in the last 20 years. The bankruptcy proceedings usually result in a merger or some new company that’s injected with government funds. Even airlines that might go bankrupt are bailed out by the government such as during the travel shutdowns of the pandemic. The result is that airlines are now zombie companies that repeatedly get revived through government intervention.

Zombie companies typically don’t do that well in the marketplace. It’s no coincidence that air travel times are slower now than in the ‘70s. Planes might be more fuel efficient, but they’re not really faster or more convenient. The way these zombies have survived, besides government intervention, is through the financialization of their miles programs.

*** end quote ***

One really has to see the link between bailouts and inefficient zombie companies.

Real competition between financially healthy airlines would make air travel faster, more convenient, as well as “cheaper”.

The DHS / TSA “airport security” is “security theater” at best and further allows zombie airlines to shift costs to the public at large.

Argh!

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