The following is a guest post by Kadan Stadelmann, CTO of Komodo Blockchain.
The United States has experienced a huge increase in wealth and power in recent years. While modern day robber lords are gaining weight in the Gilded Age and Roaring Twenties of the 21st century, Americans around the world are suffering.
But unlike the Gilded Age or the 1920s, the 2020s offer a reprieve. Bitcoin serves as a timely solution to ensure that individuals and families enjoy a piece of the American Dream.
Americans living in a quiet recession
Millions of people in the United States life In “quiet melancholy”.For example, 35% of people in the US no longer earn enough money For payment of basic needs.Several put The number reaches nearly 50% of households.
Additionally, American credit card debt is strike new record as Credit card interest rates are rising. For the first time in history, credit card debt has increased. Beyond 1 trillion dollars.and the people pay The average interest rate is about 28%.
The situation is even worse for black and Hispanic families, with more than 50% of them unable to make ends meet. I can afford it Basics. And more than two-thirds of her full-time, low-income workers with children don't earn enough to make ends meet. And dire economic hardship puts pressure on parents' health, increasing the likelihood that their children's needs will go unmet.
land owned by kleptocracy
On the other hand, housing prices doubled, tripled Interest rates have increased significantly over the past decade. First-time homebuyers are being shut out, tied to high rents, and unable to build equity in the form of housing. On the other hand, 80% of rented farmland is not. own Not by farmers, but by investors.
America's land bases are owned by a corporate kleptocracy that uses its control to strip the masses of wealth. If Americans can't own equity in the form of a home, they can't get liquidity from, say, a second mortgage to start a business. And when that happens, the American dream ends.
Robber barons exert undue influence as shareholders
BlackRock, State Street, and Vanguard have played important roles in consolidating America's extraordinary wealth.They became the so-called “Big Three” largest shareholder Eighty-eight percent of S&P 500 companies demonstrate “hidden power” through private engagement with management and, in some cases, other means.
How can I reverse the damage?
America was once the land of blue jeans, cars, and transistor radios. Because the Founders championed minimal government and the power of millions of individuals to participate freely in social and economic life. In short, they believed in decentralization.
Unfortunately, that vision will not last forever, and today we see the aftermath of that failure all around us. This is true not only within the United States, but also overseas due to the policy of perpetual war. The United States is moving toward a feudal model in which corporations like the Big Three buy up all the land they can own, rather than the decentralized model advocated by the nation's founders.
Bitcoin provides a hedge against consolidation by these superpowers, allowing ordinary people to build equity not through their homes, but through the world's only finite asset. Bitcoin maintains economic freedom, as demonstrated by the Ottawa trucker protests in Canada, where organizers' bank accounts were closed without due process at the request of the government. .
While Bitcoin poses a threat to central bankers, it also gives people hope. It is a beacon of human freedom and individual freedom. This is a logical competitor to central bank digital currencies (CBDCs). Rather than promoting fiat central bank digital currencies (CBDCs), the US should support the US dollar with a basket of assets that includes Bitcoin (and possibly gold, silver, and platinum).
For these reasons, Bitcoin is under attack. Regulators are looking at ways to neutralize the technology, which has long turned mining facilities into environmental boogeymen.
Passing Bitcoin-friendly policies in a divided chamber will not be easy.
What must be done? First of all, Bitcoiners around the world are politically organized, working in local, state, and national conferences to protect the rights of people transacting in an increasingly integrated world. must attend. Moreover, it requires an all-out effort. Whether you can afford it or not, stopping the modern-day robber barons will require the cooperation of the entire Bitcoin community.
