When Bitcoin Melts The System, Prosperity Steps In – Bitcoin Magazine

“Overcome by the giddiness that flying lent him, Icarus soared into the sky, but in the process, he came too close to the sun, which due to the heat melted the wax.”

The Legend Of Icarus

Central banking, along with fractional reserve banking — two inseparable evils of monetary policies — have been distorting market price signals for the last 50 years.

In 1971, the Nixon Shock corrupted the global monetary system by fracturing the final linkage between gold and the U.S. dollar. Fiat currencies were unleashed, issued and managed by central banks. Over the years, delusional interventionism enabled by politicized narratives to serve a middle class convinced into believing central manipulation is in their best interest, has brought fiat currencies’ purchasing power to its knees.

Today, savers are penalized, while speculators and spenders are rewarded. This tendency to be punished by lowering one’s time preference feels alienating to many. It just doesn’t feel right. Yet, few are capable of putting a finger on why that is, including banking professionals and money managers whose salaries depend on not understanding it.

With a dysfunctional monetary system that doesn’t hold value over time, many artificial distortions arise in all markets. Like a cancer metastasizing in its host, fiat currencies are the initial viral load that contaminated all territories governed by the fiat dogma, spreading the pandemic of central and fractional reserve banking.

It is a well understood yet underappreciated fact that money accounts for 50 percent of the value of all transactions globally, and therefore a broken money can have severe repercussions, as it tricks every user into misleading economic calculus, ultimately leading to a distorted, apathetic and broken society. The logical construct behind the dissection of today’s evils is actually very simple: money is broken; fix the money, fix the world.

Time is an invariably forward passage common to all…

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