Absolutely thoughtful.
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I agree. In addition, what do we know enough about how bitcoin is managed and brokered. Value is imaginary, nothing tangible attached to it therefore to easily manipulated by whoever has the keys to its coding. Too many unknowns. Physical gold/silver as a metric for currency value is stable and reliable.
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The decrease in the real earnings of the average american worker since 1973 is more complicated than the policies and actionds of our Federal Reserve and expansive Federal Government fiscal policy.
The era of Globalization enabled by advances in shipping transportation by sea and air has brought the strong winds of international economic competition to our shores. The long term decline in the American standrd of living and the concommitant rise in the standard of living in countries once considered poor such as China,India and Brazil are more responsible for our decline in real wages among american workers, especially those unskilled or replaceable workers. While Federal fiscal and monetary policy may have played a role, it may also have avoided severe economic downturns, which was also one of its goals.
The more surgically targeted expansion of the Earned Income Tax Credit toward those lower wage workers would be more likely address the decreasing real wages of this hard working population that has fell behind.
NESERA precious metal backed system, to help the people recover from one of the worst economies ever. Gold & Silver used to replace fiat money. Level the playing field, and help contribute to less American poverty, and homelessness.
Yes, because with Covid there came price gouging of necessities. So, I am pretty sure the numbers would be higher
The United States needs real currency backing. Love the proposal, anti-military interventionalist.
I feel the same way! I think Dept of Treasury should be audited if they don’t already do it. I feel every thing keeps going up through the years from everyday living, housing, vehicles but our income doesn’t even match half of it to survive and live. Its like the American Dream vanished here. I see corporations and wealthy people getting richer but the average american continues to just struggle. We can’t continue down this path. Between % rates with vehicles, homes and credit cards I feel we need limits or caps these corporations are gaining from but we end up paying more than we bargained for or can afford. So many businesses are struggling and closing and I don’t feel its the pandemic anymore its bc of inflation. I feel the middle and lower class pay more taxes and suffer from it bc the wealthy people seem to get a free pass on who to tax. I think we need a higher tax bracket for rich people who can afford it or they should be taxed higher %. All i see is lower class and middle class suffering extremely bad but nothing affects the wealthy people.
I was very disappointed to hear RFK, Jr. opining on Bitcoin as I am not aware that economics is his area of expertise. Specifically he is advising that Howard Lutnick be Trump’s Treasury Secretary pick due to his strong advocacy for Bitcoin.
Bitcoin is being described as a “hedge against inflation for middle class Americans, a remedy against the dollar’s downgrade…and the offramp from a ruinous national debt.” This exhibits an appalling ignorance of the root cause of these ills which is the Federal Reserve system. “Let’s do Bitcoin and keep the Fed” is like putting a bandaid over a sucking chest wound and saying, there, we fixed it!
Finally “middle class Americans” do not need Bitcoin and I would not expect them to adopt it. If anything, cash and barter are the forms of financial transactions that are increasingly popular. The American people have a growing awareness that Bitcoin, as are ALL forms of digital currency, are just another way for bad actors in authority to add another layer to a control grid which can easily lead to social credit systems and the slow slide back into totalitarianism.
There are many who have expertise in this area. I recommend contacting Catherine Austin Fitts and Ron Paul, as well as reading the incredibly detailed book “The Creature from Jekyll Island” by G. Edward Griffin which lays out an excellent explanation for the layman.
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Thanks for the book recommendation! Just ordered it! I really want to understand how the US got into this financial mess!
Sounds like a job for DOGE.
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How about this, eliminate taxes for everyone who make under a certain amount each year, maybe like $50 k or higher paying the tax, everyone under that no taxes. That would give everyone under that to keep more money each year, as well give some money going into the government. Or just whip out taxes all together?
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I like this idea alot and feel people under a certain tax bracket should be exempt if they are working full time. I don’t feel people should get a tax break in their state, town or county if they aren’t working at all.