Promises are Cheap

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Saifedean Ammous is a renowned economist, author, and educator known for his influential work on Bitcoin and economic theory. He is the author of *The Bitcoin Standard*, a seminal book that explores the history, economics, and impact of Bitcoin as a decentralized digital currency. Ammous holds a PhD in Sustainable Development from Columbia University and has taught economics at several universities. His research focuses on monetary economics, specifically the role of sound money in fostering economic stability and prosperity. Ammous is a prominent advocate for Bitcoin, arguing that it represents a return to sound money principles and a hedge against inflationary policies. He is also a frequent speaker at conferences and a vocal critic of central banking and fiat currencies.

He's got some spicy takes on current events within the context of promoting Bitcoin as the superior form of money. I liked this one so much I had to write a post about it.

It's nice that politicians are pandering to bitcoiners, but promises are cheap. There is a major insurmountable obstacle to the US govt buying bitcoin: The US govt does NOT own or control the US Federal Reserve, which is a cartel of private banks. The US President can't just tell this cartel what to do with their reserves. The US dollar is the sacred cow of this cartel, and it's how they rob the entire planet. They're not about to give up this racket because some politician made a promise whose implications he doesn't understand. They're not going to buy a million bitcoins, because a commitment to purchase bitcoin will just encourage everyone to dump their dollars and buy bitcoin, and destroy the value of the dollar and their ability to rob the world with it. If you think they managed to build this century-old cartel while being stupid enough to fall for this or powerless enough to stop it, you're going to be disappointed to find out they're actually just evil.

But can't the US government buy bitcoin itself, without the Fed? With whose money exactly? The US government is fiscally irresponsible and its biggest expense is debt servicing. There are good reasons your irresponsible debt slave friends never get bitcoin and keep laughing at you when you bring it up. Irresponsible high time preference people and institutions don't understand the concept of long term savings. More importantly, the US government needs the Fed to buy its debt and keep its Treasury ponzi going. Buying bitcoin in spite of the Fed's opposition is a full-on declaration of war by the US government against the Fed and the fiat dollar, and that's just not something that Trump, or Kennedy, is up for. Trump has repeatedly praised the Fed. Kennedy wants to implement some ridiculous low interest rate subsidized home lending scheme only possible with the Fed creating cheap money. These men are not Andrew Jackson, nor are they even trying to be him.

The real enemy of bitcoin, and humanity, is the Fed. The US government is just its tool, and politicians are interchangeable actors that haven't mattered in decades. You're not going to destroy the Fed by promising to vote for one actor over another. Your only chance of destroying it is for bitcoin to grow larger than the dollar and Treasury bonds, and for dollar users to continue to get impoverished into oblivion while bitcoiners thrive with their superior technology. I humbly suggest you not waste time and sats on the politics circus, and work hard to stack sats instead.

— @saifedean

I recomend reading his book, the best book I'm aware of on bitcoin. You'll come away understanding money in an entirely new light. Fix the money, fix 50% of the worlds problems because money is half of every transaction. Responsive image

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