Bitcoin Forum

It's been a while since I wrote anything about economics or bitcoin but I was bored the other day and decided to write up this article. It's a fairly long read but includes a lot of good information and I thought some of you may find it interesting. Bitcoin is mentioned in several parts of the article and it really helps solidify some of the arguments I'm making. I'm open to any criticism and corrections if you feel I made a mistake anywhere.

EDIT: my website seems to be a bit slow at the moment so if you have any problems loading the page just try again later. Then again 90% of websites appear to be going slow right now so I think there's something more going on here. I saw something on the news a moment ago about a huge DoS attack by spammers which may slow down the internet but I'm not really sure if that's what's going on.

Wow!!! Very nice article! Thanks!  ;)

No problem, glad to see you liked it. There aren't many articles which cover all these important topics together as interlinking points of discussion, so hopefully many others will find it informative and helpful.

It was a long read but well written and thoroughly insighful. Thank you

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Nice read

Haven't had a chance to read it properly but browsing through I saw no mention of the fight to fend off the privatised fed back in the day, would be nice to see a bit of background to show that it wasn't just poor decisions that led to the current system.

A few quotes perhaps:

"The few who understand the system, will either be so interested from it's profits or so dependant on it's favors, that there will be no opposition from that class." — Rothschild Brothers of London, 1863

"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild

"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs." — Thomas Jefferson, U.S. President.

"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it's issuance." — James Madison

"The financial system has been turned over to the Federal Reserve Board. That Board as ministers the finance system by authority of  a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money" -- Charles A. Lindbergh Sr., 1923

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence

there's a whole lot more: http://www.jesus-is-savior.com/Evils%20in%20Government/Federal%20Reserve%20Scam/quotes_on_the_federal_reserve.htm

damn, didn't notice it was a religious site..

Then there's JFK who tried to take it to the bankers - and lost.

MikeH, I discussed much of that and used some of those quotes in my other article titled Fiat Money so I didn't really want to re-use them. The Fiat Money article is older and less concise because I wrote it back when I was less educated on these matters. It needs a bit of updating now but still has a lot of good information.

ah ok I found that article, good work :]

This would be a more informative article if you didn't use "money" and "currency" interchangeably.

Yeah I thought about that after I finished writing it... but I couldn't be bothered going back to make the difference clearer. It just makes the topic more complicated than it needs to be anyway. Out of curiosity, how would you define the difference between money and currency?