With the leading experts in crypto so monetary ignorant, is it any wonder why the sheeple always get slaughtered?
I really do not intend to make this a series!
Nonetheless, here is Part I.
It’s Sunday morning, and since I was out-of-the-loop all day yesterday, I wanted to see what has been going on, and this quest for insight began with a scan of Twitter.
One thing that stuck out at me was this:
I guess when my eyes see 1971 in close proximity to the words “US dollar” in quotes, it’s for me hard not to hone-in on the context.
Now, I’m not really sure who this Erik Voorhees dude is, although I have heard the name before, so I guess he’s some important bloke in the crypto world.
And judging from the superficial, he’s like, totally verified, loved by all, embraced by his fellow crypto pumpers, and the masses heed his nonsense as evidenced by the number of re-tweets.
Let’s break down his Tweet, however, sentence by sentence.
- Most people think the US dollar has been around for a couple hundred years.
Not much to say here other than to offer a glimpse of things to come, because yes, I probably agree in the sense that people think the US dollar has only been around a couple hundred years, but the important part is not really about how long the dollar’s been around, but rather, it’s the fact that most people only know the dollar, and most Americans specifically, think the US dollar will always be the top dog.
This is important: If you say to most people, “the US dollar is going to lose its importance in the world”, they would say, “no, that’s never going to happen!”.
But I digress.
The second sentence is where the monetary ignorance begins:
- In reality, it’s been around since 1971.
Of course, if this dude’s not an American, I guess I could cut him some slack because if I were to be asked something about, oh, say, Swiss Franc history, I’d probably be just as ignorant.
However, I wouldn’t be winging it or pretending to know, either.
But I digress.
The US dollar has actually been around since the Coinage Act of 1792:
You see, they say Bitcoin is a great sell to people who don’t understand math, people who don’t understand technology, or people who don’t understand money.
Are you beginning to see what this Voorhees dude doesn’t understand?
Side Note: Not understanding money in general is not the same thing as being able to rake in the dough, you know, sleazy used car salesman style, not that there’s anything wrong with sleazy used car salesmen because they’re way more classy than the Bitcoin pumpers.
Moving on to the third sentence:
- Before that, “US dollar” was a proxy term for a specific weight of gold.
Now we’ve crossed from basic ignorance to dangerous ignorance.
First of all, the dollar wasn’t a “proxy term” for a specific weight of gold.
THE US DOLLAR WAS A SPECIFIC WEIGHT AND PURITY OF GOLD.
Uh, that’s why the US Constitution requires congress to:
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
But wait, there’s more!
You see, it’s not just gold, but also silver:
No State shall…make any Thing but gold and silver Coin a Tender in Payment…
Again, if he knew anything about the Coinage act of 1792, or the US Constitution, he would know that the dollar has been around for more of American history than the dollar has not been around, and the dollar is not just some “proxy” for gold.
Again, I’m just pointing out what I see in one Tweet, and as I’ve said, I can’t really fault him if he is not an American, and since it’s bad enough I’m inspired to write about Bitcoin, don’t get to thinking I’m going to dig into Voorhees biography.
This total ignorance at best or active lying at worst when it comes to the US dollar is just one of those things that really gets under my skin, and it just goes to show why I always say that it is indeed silver that the Deep State Globalists are most afraid of in this world, which is exactly why people like Voorhees get a soap box, because he’s only adding to the mass idiocy of the collective sheeple’s intelligence.
Moving on to the final sentence:
- The fiat dollar is just a middle-aged payment instrument with high cholesterol.
If Voorhees really thinks this, then he is going down with the ship, because to Voorhees, it is apparent that hitting the iceberg was no big deal – just a tiny hole to be plugged – much in the same way that an otherwise healthy middle-aged man can get that high cholesterol under control.
News flash: The Titanic sinks.
Here’s the thing: The fiat dollar is currently a debt-based, unbacked, except by sheer US military blow-things-up-and-kill-people-force, Federal Reserve note, but the problem is not in what the dollar is, for the problem is in the second part of Voorhees statement, writing that the dollar is “middle-aged” with “high cholesterol”.
If we really want to get technical about it and assess the US dollar’s age and state of health, it’s more like old-aged, in terms of how long pure fiat currencies survive (this one’s 48 years old since Nixon Closed the Gold Window), but, more importantly, the dollar dollar’s problem isn’t high cholesterol, but rather, the dollar is limbless, brain-dead and hooked-up to life support, yet nobody will do the right thing and pull the plug.
I say Voorhees will go down with the ship because he doesn’t understand what the US dollar really is.
If Voorhees does truly understand what the US dollar really is, then sadly, he can only be lying.
Now that I’ve written a Part II, I really hope Bitcoin reaches its intrinsic value very soon.
I don’t like writing about all of the things the Bitcoin pumpers just won’t say.
It is apparent that Erik Voorhees does not understand money.
Bitcoin is for people who also don’t understand math.
Those who don’t understand technology?
Bitcoin’s great for them too.
In the United States.
Money is silver.
– Half Dollar
About the Author
U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.