Historically, economic pursuits have been at the forefront of political agendas. Be it the mercantilist strategies of European colonial powers or the industrial policies during the Industrial Revolution, political decisions were often influenced by economic ambitions. Major events, like the U.S. joining World War I, were swayed by economic ties. Today, tools such as trade agreements, tariffs, and sanctions are used by countries to protect their economic stakes.
The more I learn about economics the more I question the authenticity of politics. Is it an independent force, or merely a reflection of monetary power plays? It’s evident that money has a profound influence, often overshadowing genuine political motivations. There is an alleged Henry Kissinger quote that goes,
If you control the food, you control a nation. If you control the energy, you control a region. If you control the money, you control the world.
Regardless of its origin, the essence of the quote is undeniable. Money holds the power to command people’s time, products, and services. While I can envision multiple strategies to minimize money’s dominance over politics, its influence remains indomitable:
- Campaign Finance Reforms: By curbing the influx of vast sums into politics, we can realign politicians with the public’s genuine interests.
- Lobbying Regulations: Enhanced transparency and stringent regulations can deter the undue influence of financial giants.
- Public Funding: By providing public funds for campaigns, candidates can champion their causes without financial strings attached.
- Transparency Initiatives: Granting public access to details of political financing can unmask covert monetary influences.
- Educated Electorate: A well-informed populace can be the vanguard, demanding genuine representation.
Yet, despite these viable solutions, there appears to be no desire in the political realm to adopt them. Luckily technology might be able to fix many of these issues. Bitcoin is a transformative force with genuine potential to rectify the world’s flawed monetary system. Its decentralized design ensures transparency, allowing anyone to verify its capped supply of 21 million. As the world’s most secure computer network, Bitcoin serves as a steadfast shield against the insidious effects of inflation, a covert tax that empowers kleptocrats to siphon off public resources. By depriving political entities of their power to fabricate money at will, we may finally witness a restraint on their extravagant expenditures. While I hope I’m wrong, it seems those in power intend on extracting every last ounce of value from the dollar. The silver lining? Bitcoin will be a black hole for those looking to preserve their purchasing power.
Though politics has historically been a means for marginalized communities to assert their rights, it seems less effective in vast economic contexts. Just look at our corrupt financial system and the consistent resilience to change except during significant fiscal or geopolitical events. These shifts often unmask the financial drivers behind political actions. For instance, the aftermath of the 2008 crisis and the subsequent Dodd-Frank Act resulted in greater consolidation of banks and a decline in the establishment of new ones. Dodd-Frank’s primary objectives was stability in the financial system and I’m not sure how one could argue compellingly that less competition in the banking system would breed more stability.
Moreover, technology’s evolution has played a significant role in molding societal structures. It’s not just a supporter but a determinant of political ideologies, emphasizing the intertwined nature of money, technology, and politics.
Embracing Bitcoin could be instrumental in deciphering this complex interplay between politics, economics, and technology. While it’s an oversimplification to label any one entity as a universal remedy, Bitcoin emerges as a compelling solution, especially concerning political transparency. Its adoption could signify the end of unchecked deficits and covert political deals funded by taxpayer money. Envision a world where the central bank can be audited anytime, anywhere. If Bitcoin ascends to become the global reserve currency, this transparent audit of the world’s foundational monetary layer becomes a reality.
If you haven’t already, start learning about Bitcoin. I promise you won’t regret it.
10/22/23
Conor Jay Chepenik
