Good Morning Everyone,The US senate has just passed a bill to fight inflation by creating a program to spend $430 Billion dollars on climate and health care initiatives named the Inflation Reduction Act. I linked to the summary document above which begins as follows:“The Inflation Reduction Act of 2022 will make a historic down payment on deficit reduction to fight inflation, invest in domestic energy production and manufacturing, and reduce c...
Good Morning Everyone,
The US senate has just passed a bill to fight inflation by creating a program to spend $430 Billion dollars on climate and health care initiatives named the Inflation Reduction Act.
I linked to the summary document above which begins as follows:
“The Inflation Reduction Act of 2022 will make a historic down payment on deficit reduction to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40 percent by 2030. The bill will also finally allow Medicare to negotiate for prescription drug prices and extend the expanded Affordable Care Act program for three years, through 2025.“
I’ve never seen a more apt example that demonstrates how democracy is a 51% attack on the network, as with this this vote. All 50 Democrats voted for the bill, and all 50 republicans voted against it, with Kamala Harris, as president of the Senate, casting the tie-breaking vote and initiating a $430 billion dollar 51% attack on the American network.
Check out the clip above to watch the completion of the vote, and the pleasure these people derive from “winning“ and beating their enemy which ironically is their countrymen.
You would think if the government wanted to spend almost half a trillion dollars then they would need to have that money, but not in a fiat world. Remember the Federal Reserve’s balance sheet is just below $9T and government debt is around $30T. To facilitate this bill they (for the most part) will simply take on more debt.
What’s particularly absurd about this bill is that they think reducing carbon emissions by 40% in 7 years is in any way realistic, and they plan to increase their taxing capabilities, which is to prey even further on their population, by increasing the head count of IRS agents by 87,000 and increasing the level to which they can capture your proof-of-work.
This bill is a wolf in sheep’s clothing. It’s aimed more toward stripping value from the populace by the rent-seeking unproductive class than doing anything meaningful about TheClimate™️ or for peoples health. Give me a break! They do not care about anyone’s health. It is masquerading as something that they think the mindless majority will support while further enabling them to suck blood from their hosts.
This insanity really is as upside down as it sounds. This tweet from James Lavish really hits the nail on the head in my opinion in regard to this failed fiat monetary experiment and the obsession by the supporters of it with central planning.
This is the fiat disease. The idea that to “fix“ the problem that has been created in the first place by increasing of the money supply is to impact every other node in the fiat network by increasing this magical number. Essentially forcing a contraction in economic value expression across the network. It negatively impacts the profitability of many businesses which creates many other higher order effects and often leads to less jobs being available. It leads to a concentration in wealth and allows the larger and richer to accumulate and further accelerates the wealth divide which harms society broadly, and ultimately it makes life more difficult for an increasing majority of people.
That’s not to say people would not experience difficulty if we removed fiat today, but it wouldn’t be as insanely unfair as what it is today. Fiat is fundamentally zero-sum. It is taking from many and allowing a few to swallow it up. And it is enabled by a small group of corrupt liars who celebrate winning above all else, and completely ignore the truth about how destructive, short sighted and immoral this system really is.
It truly flaws me how upside down this clown world has become, and that anyone would consciously support such a parasitic drain on human potential. The idea that a small group of pseudo-elites have this level of control over all other people because of their outsized influence over the monetary protocol is fundamentally wrong, however in the fiat clown world, this is a feature of the system, not a bug.
This bill should be named the Inflation Creation Act, because in order to spend this money the government doesn’t have, money will need to be borrowed and thus created. You can see Moloch at work here. Bad incentives, enabling bad outcomes, stuck within a nasty feedback loop enabled by the Moloch that exists inside us all.
Bitcoin is the mechanism to enable us to course correct. The paradigm shift, that can enable us to break free of this perpetual negative feedback loop and it begins by disabling the outsized influence of these central planning parasites. Get educated and take custody of your keys - these people would 6102 rug pull you without hesitation.
Bitcoin is the mission.
Hope you all have a great week. Wishing you well, and i’ll talk to you tomorrow.
AK
Published Block Height: 748496
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