El Escritor Inglés: May 2020

Sunday, May 31, 2020

Bitcoin Must Survive

The world’s financial system is now in its death throes. The COVID-19 pandemic – accidental or perhaps not – has been systematically exaggerated to provide central banks with the excuse they needed to print further vast quantities of currencies to maintain an illusion of economic health (Figure 134.1).

Figure 134.1: American satirist P. J. O’Rourke observed: ‘When the government runs out of lenders, it can do something that households are forbidden to do: print money.’

In response to lockdown inactivity, the US dollar, Japanese yen, British pound and the Euro are all being created out of thin air more frantically than ever. This unprecedented strategy will, ultimately, fail, but the corrupt central bank counterfeiters will fight to maintain their power to the bitterest end. Collateral damage, in the form of currency wars, trade wars or world wars, means nothing to them. So-called democratic governments are merely the central bankers’ paid puppets.

This imminent crunch point has been inevitable for years. As the supply of fiat (unbacked, State-enforced) currencies increases, the value of each unit becomes worth less, until it is worthless. (Think of Weimar Germany in 1923.)

For the past decade, however, we have had an alternative, and its use and popularity grow by the day. Bitcoin (BTC) is the world’s first cryptocurrency. It is ingenious and has several inherent advantages over central bank-issued fiat. First, by immutable mathematical protocol (Figure 134.2), its supply is limited. There can never be more than 21 million BTC. Hence, the value of each BTC unit cannot be reduced by expansion of supply. Increased demand necessarily increases its unit value. It is the ‘hardest’ currency ever, even more inflation-proof than gold.

Figure 134.2: BTC is independent of any kind of authority and thus free from the control of financial and political tyrants. Interestingly, the identity of its creator, ‘Satoshi Nakamoto’, remains unknown. His beautiful creation stands to wipe out the power of the moneychangers. Retaining his anonymity would appear to be extremely wise.

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Better still, BTC is decentralized. No entity – bank, corporation or State – controls it. No conscious governance or permission is required for it to function perfectly. It is, therefore, a libertarian’s dream. Furthermore, it is cryptographically secure and fully verifiable. Put simply: BTC is kryptonite to central banks and their political lackeys.

As an investment, BTC is the best-performing asset in history. More profitable than stocks, bonds, property or commodities, its unit price has gone from zero to US$9,500 since 2009. Owing to the perpetual creation of fiat currencies worldwide, its medium-term price could quite easily exceed US$250,000.

Purchasing and holding – known as ‘hodling’ – BTC is straightforward. There are several secure digital asset exchanges online. I use Coinbase Pro (Figure 134.3) and Kraken. Transferring dollars, pounds or euros to BTC, and vice versa, is both simple and quick. BTC can also be removed from exchanges and stored in an offline ‘ledger’, if preferred.

Figure 134.3: Once you have learned the ropes of the Coinbase Pro system, investing and trading are easy. http://www.pro.coinbase.com

Given that the war on cash seems relentless, digital currencies appear to be the future. A monumental battle is underway. In one corner stand the world’s corrupt central banks, who have empowered themselves by debasing and devaluing the hard-earned savings of ordinary people, without scruple, for decades. In the other stands an incorruptible newcomer, controlled by no one and forever bound (mathematically) by its 21-million-letter word.

We have reached a fork in the economic road. For humanity’s sake, BTC, or something similar, must prevail.

Friday, May 08, 2020

Until A Mess Gets Here

Today is the 75th anniversary of VE (Victory in Europe) Day. I remember being in London for the 50th, in 1995. I was standing right at the gates of Buckingham Palace (Figure 133.1) when H.M. The Queen, Queen Elizabeth The Queen Mother (1900-2002) and Princess Margaret (1930-2002) appeared on the palace balcony. The Mall was awash with Union Flags. Spitfires and Lancaster Bombers flew overhead. Vera Lynn sang to a hundred thousand people, all basking in the Bank Holiday sunshine, giving thanks to a brave, victorious generation, and celebrating the simple fact of having been born British and free.

Figure 133.1: VE Day 50th anniversary celebration in London in 1995. I am at the bottom of the picture, wearing a black shirt, to the immediate right of a friend – hi, Russell! – wearing sunglasses.

This 2020 May Day Bank Holiday is different. Something very odd is going on. More and more scientists are stating with confidence that the COVID-19 virus is, as I initially suspected, a bio-engineered entity. The esteemed molecular biologist Dr Judy Michowitz (Figure 133.2) has pointed out that it would have taken 800 years for its unusual genetic structure to have occurred naturally, if at all. Hence, that particular truth is out.

Figure 133.2: An incredible interview (26 min) with Dr Judy Michowitz was banned by Youtube. It can, for now, be viewed here:

https://www.armstrongeconomics.com/international-news/politics/dr-judy-michowitzs-video-restored/

Despite the virus having been bio-engineered, reputable sources, including Stanford University, estimate the mortality rate to be no greater than 0.26%. For under-70s, the figure drops to 0.04%. Only the elderly and chronically ill are at risk. (Slightly increased susceptibility for blacks and Asians could be either genetic or because of dark skin failing to synthesize sufficient vitamin D in a temperate climate.)

De facto house arrest makes no sense – for health, social and economic reasons. It cannot, surely, be persisting as a result of incompetence alone. We were told that lockdown would end as soon as the mortality data curve had been flattened. That was, evidently, yet another lie. Why are death statistics being systematically inflated? To justify a prolonged lockdown? I believe so. Lastly, why have random sampling antibody data not been published? Because the test is unreliable? Hardly. Other countries have reliable testing, and our laboratories are second to none. The answer is simple: if the (true) data were made public, they would show, beyond doubt, that the draconian decisions made by government, on the basis of advice given by the hypocritical charlatan Neil Ferguson, were disgracefully flawed.

We are, therefore, entitled to ask: is this hysterical overreaction in fact a pretext for a society with increased State surveillance, future restrictions to freedom of assembly, the abolition of cash, compulsory vaccinations and micro-chipping, and further massive bail-outs for corrupt banks – all of which would otherwise be unacceptable to the public?

Whatever the ulterior motives, I am sad today. Life is for living, enjoying, experiencing and being at liberty to do our own risk assessments. There never was a valid rationale for incarcerating an entire healthy population, particularly as the lockdown will give rise to more deaths and illnesses, both physical and psychological, in the long term.

So, get out into the sunshine. Ditch the irrational, State-induced fear, and give a good old-fashioned two-fingered British salute to those that purport to represent us, yet care only for our votes and basic utility. To hell with scientifically-illiterate politicians, bought-and-paid-for academics, and those opportunistic Little Hitlers oozing from their domestic slime to snitch on their neighbours. I am going for yet another joyride along back roads running through fields lined with cow parsley, where cabbage white butterflies flutter above carpets of uncut grass and endless dandelion clocks. I have been apprehended by police twice in the last fortnight and expect a third encounter to occur before the lockdown is lifted. To hell with them too.

In Cormac McCarthy’s 2005 novel, No Country for Old Men, Deputy Wendell says: ‘This is turning into a hell of a mess, ain’t it, Sheriff?’

The sheriff replies: ‘Well, if it ain’t, it’ll do until a mess gets here.’

Enjoy the social and economic depression, folks. It will be along soon enough.