Fiat is a sinking ship and Bitcoin is the lifeboat, but CBDCs are inevitable — Moss and Breedlove

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(Kit­co News) —
Fiat cur­ren­cies frac­ture the glob­al econ­o­my and enslave cit­i­zens, while Bit­coin is the sound mon­ey solu­tion, accord­ing to Robert Breedlove, host of the What is Mon­ey pod­cast, and Mark Moss, host of the Mark Moss Show and part­ner at the Bit­coin Oppor­tu­ni­ty Fund. 

“If one group of peo­ple must trade their time for mon­ey, and anoth­er group of peo­ple can print the mon­ey, where does that lead?” Moss asked. “[The Fed] is steal­ing from their time, steal­ing from their life.” 

Moss and Breedlove spoke with Michelle Mako­ri, Lead Anchor and Edi­tor-in-Chief at Kit­co News at Bit­coin Mia­mi. They said the world’s many cur­ren­cies rep­re­sent region­al monop­o­lies that inhib­it trade, invest­ment and wealth accumulation. 

“The world wants one mon­ey,” Breedlove said. “Mon­ey is a tech­nol­o­gy that inter­me­di­ates trade. The deep­er our trade net­works are, the deep­er the divi­sion of labor is, the more wealth we can cre­ate, the more prob­lems we can solve.” 

Fiat frac­tures trade and enables oppression

Breedlove said the world has over 200 nation-states, each with their own mon­ey, enabling inter­nal repres­sion while dis­abling tru­ly free trade. “We have these lit­tle frac­tured pock­ets of mon­e­tary monop­o­lies around the world,” he said. “That inhibits trade. It inhibits the free flow of goods. It enables tax­a­tion, oppres­sion, infla­tion, all these things that are not good for indi­vid­ual liberty.” 

He said the frac­tured mon­e­tary sys­tem also con­fus­es entre­pre­neur­ial activ­i­ty, induces peo­ple to over-bor­row, and caus­es mis­al­lo­ca­tion of cap­i­tal. But it takes a human toll that extends far beyond economics. 

“In this world where peo­ple are being robbed all the time, they’re so des­per­ate to keep up with a rat race that they don’t real­ly take time to dis­cov­er what they’re best at,” Breedlove said. “What does the world need? What can they do prof­itably? They’re not as free to explore their entre­pre­neur­ial impulse because they’re just try­ing to stay ahead of infla­tion and oppres­sion all the time. Every­one’s try­ing to out­run the theft.” 

Price-fix­ing always fails

Moss said that his­to­ry shows that price-fix­ing always fails hor­ri­bly, but cen­tral banks con­tin­ue to make this approach the cor­ner­stone of their mon­e­tary policy. 

“The Fed’s whole pur­pose is to man­age the sup­ply of mon­ey, or more impor­tant­ly, the price of mon­ey,” he said. “But when you’re set­ting the price of mon­ey, you’re set­ting the price of every­thing. Every sin­gle month we all look to Jerome Pow­ell com­ing out of the FOMC meet­ing. I com­pare it to wait­ing for the ground­hog to come out and tell us if spring is going to come. We’re wait­ing for one guy to tell us what our fate will be.” 

“Bit­coin, going to sound mon­ey, will negate that,” Moss said. “We’ll take away the need.” 

Cen­tral banks are the core problem

Breedlove said that in order to address the fun­da­men­tal prob­lems of fiat cur­ren­cies and cen­tral bank­ing, it’s nec­es­sary to step out­side the box and think crit­i­cal­ly about the top-down cen­tral­ly-planned sys­tem itself. 

“When peo­ple are intel­li­gent enough to under­stand the macro­eco­nom­ic land­scape and how it works, if you only speak about, what is the infla­tion rate going to be adjust­ed to? What is the inter­est rate going to be adjust­ed to? What is the cur­rent CPI? You’re speak­ing a lan­guage that is with­in the par­a­digm of cen­tral­ly-planned mon­ey,” he said. “You nev­er step out­side of the box and say, ‘Hey guys, how about we stop cen­tral­ly plan­ning the mon­ey?’ If you just stay in the box and you only speak their lan­guage, then you’re implic­it­ly jus­ti­fy­ing the scam.” 

Moss point­ed out that the real advan­tages that fiat cur­ren­cy used to deliv­er to soci­ety have dis­ap­peared thanks to out-of-con­trol bor­row­ing. “When they used to print $1, they could get $3 or $4 worth of growth,” he said. “Once we’ve got­ten past 90% debt to GDP, those dol­lars are now not earn­ing enough growth. So we’re maybe get­ting 80 cents of growth for a dol­lar, or 50 cents. Now we’re up to 1.25 [debt to GDP]. So we’re see­ing the law of dimin­ish­ing returns, the mon­ey print­ing is work­ing less and less.” 

“Cen­tral bank­ing is the cul­mi­na­tion of a gold stan­dard,” Breedlove said. “And with that cen­tral­iza­tion of mon­ey, mon­ey is pow­er, pow­er cor­rupts, absolute pow­er cor­rupts absolute­ly, we get the most cor­rupt insti­tu­tion man has ever had, which is the cen­tral bank. I think the only reform that’s effec­tive for cen­tral bank­ing is to total­ly abol­ish it. There’s no incre­men­tal reform that will ever work.” 

CBD­Cs are the ulti­mate tool of control

Moss and Breedlove see cen­tral bank dig­i­tal cur­ren­cies (CBDC) as the most extreme and most omi­nous form of this con­cen­tra­tion of finan­cial pow­er, because it can also be used to exert con­trol beyond the eco­nom­ic sphere. 

“The gov­ern­ment can already freeze my bank accounts if they want, they can already sur­veil my trans­ac­tions if they want,” Moss said. “But this [CBDC] is pre-emp­tive, now it’s pre-crime. You’ve exceed­ed your car­bon score, so maybe you can’t buy gas… That’s the ulti­mate form of con­trol, it’s the ulti­mate form of strip­ping pri­vate property.” 

“I would say it [CBDC] is the ulti­mate mech­a­nism of social engi­neer­ing as well,” Breedlove said. 

Moss said that despite recent moves by U.S. law­mak­ers to push back against the dig­i­tal dol­lar project, he believes cen­tral banks will get their way. “80% of trans­ac­tions are dig­i­tal any­way” he said. “What type of soft­ware do these banks use? How do they move that mon­ey from ledger to ledger? I don’t know so if they change that and they use a dif­fer­ent type of ledger sys­tem, how would I know?” 

Moss said the prob­lem is that even when unpop­u­lar leg­is­la­tion like CBDC is shot down, it just gets rebrand­ed or insert­ed into an omnibus bill at the last minute. “This is where we’re going,” he said. “They have to put this in because it’s the final piece that they need for cen­sor­ship and control.” 

Bit­coin offers an escape

Moss said that cen­tral­ly-con­trolled fiat cur­ren­cy is like a sink­ing ship. “Now, we could just blow a hole in the boat and let it sink, or we could slow­ly start get­ting peo­ple off onto lifeboats and then some­what cush­ion the blow when the inevitable hap­pens,” he said. “I think that’s the path that we’re on.” 

“And of course, Bit­coin is the lifeboat.” 

To hear more from Moss and Breedlove about cen­tral bank­ing and to find out their price tar­get for Bit­coin, watch the above video.

Dis­claimer: The views expressed in this arti­cle are those of the author and may not reflect those of Kit­co Met­als Inc. The author has made every effort to ensure accu­ra­cy of infor­ma­tion pro­vid­ed; how­ev­er, nei­ther Kit­co Met­als Inc. nor the author can guar­an­tee such accu­ra­cy. This arti­cle is strict­ly for infor­ma­tion­al pur­pos­es only. It is not a solic­i­ta­tion to make any exchange in com­modi­ties, secu­ri­ties or oth­er finan­cial instru­ments. Kit­co Met­als Inc. and the author of this arti­cle do not accept cul­pa­bil­i­ty for loss­es and/ or dam­ages aris­ing from the use of this publication. 

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