This is an opinion piece by Bruce Fenton, US Senate candidate and founder and CEO of Chainstone Labs.
It’s the money. The money is broken. The politicians broke it.
This truth pretty much sums up much of what is wrong with our world today: inflation, war, the failed war on drugs, and violence – all of these are the result of poor Monetary Policy. Even obesity can be traced to bad money and the broken incentives it causes, such as corn syrup subsidies. We need to fix the money to fix America and the world.
In order to finance World War II, our government sent war heroes to American cities to sell war bonds to citizens. They should advocate for war and the use of citizens’ money. Even in the face of the Nazis, the government still had to make the case. They had to be accountable. Today, this responsibility has disappeared.
In 1971, the United States abandoned the gold standard and the modern fiat was born. Unlike the WWII era, the government no longer needs to sell you. They don’t need accountability. They have a magic money printer. This money printer says they can print as much money as they want for war or cronies or whatever they choose. Responsibility is gone.
This modern fiduciary system is not only unsustainable and harmful to citizens’ finances, it is causing great harm in the world. I would even go so far as to say fiat is bad. Fiat, indeed, is the ultimate force of evil deeds in our world. War, death, destruction and many evils in our world would not exist on the scale they do if we took away the ability of tyrants to print money out of thin air. If we starve the beast of government by cutting its funding, we end up with more peace. Bitcoin offers an alternative.
In a world of sound money where you control your own wealth, politicians would have to argue to take your money, they couldn’t print it out of thin air. If politicians were to sell you prisons for profit, the war on drugs, or drone bombs, as they did in World War II, we would have a very different world. Lack of accountability leads not only to a bad economy, but to evil.
America’s greatest strength has been its freedom and the protection of citizens’ rights enshrined in our highest law in the land. Our Constitution says we have the right to free speech and our courts have said code is speech: Bernstein v. Justice Department – this makes a great basis for Bitcoin.
Ideally, this solid foundation of freedom will help America serve as a model for the world. This ideal model is not one where the government embraces and adopts Bitcoin and has official wallets. It’s a world where the government ignores Bitcoin and the world of money and politics drifts apart just as church and state once separated.
Some people have very different ideas. There are those who see money as a tool to control the people. Central bank digital currencies (CBDCs) and other tools of control and regulation must be rejected entirely. That’s why I decided to stand for election. Our world faces real evil and we must fight for freedom and human rights. I believe that sound money can do more than I ever could in power for good and for peace, but I also believe that having more voices for freedom in Washington is crucial. I was thrilled to meet so many people on the campaign trail and talk about liberty, freedom and a healthy economy. It’s also nice to be known as a Bitcoiner and I get asked about Bitcoin every day. It’s not just a tech hobby, it can be a foundation for a freer world.
Both the foundations of America and Bitcoin are based on freedom and voluntary interaction. It is a natural choice for America – especially American citizens – to embrace the technology of freedom to build our national strength and independence out of the broken fiat system. If we fix money, we fix our nation.
This is a guest post by Bruce Fenton. The opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.