Bitcoin Is Crucial to defend Our Economic Freedom

There can be little doubt that central banks want to increase their control over money and how it is used. Sound money is crucial when it comes to defend people’s economic freedom against the overwhelming control on the part of the state and sound money is not forced by the state but is chosen by the people in the free marketplace. The actual fiat currencies we are accustomed to — be it the US dollar, the euro, the Chinese renminbi, the yen, or the Swiss franc — represent fake money, monopolized by the state.Fake money is economically and socially destructive: it is inflationary; it benefits a few at the expense of many others; it causes boom/bust cycles; it leads to overindebtedness; it corrupts society’s morals; it paves the way toward tyranny.It is no coincidence that the so-called Big Government has been expanding ever since the world adopted unbacked money back in 1971, and as a result, individual economic freedom has been under pressure ever since. The state feeds itself on fiat money: it issues new debt, which is then monetized by its central bank, which is at the heart of the fiat money standard.What needs to be done? How can we get from a state-controlled fiat money regime to a free market in money? In this regard, cryptocurrencies have done much to educate people. By studying how they work, people have become once again familiar with topics forgotten since the gold coin standard era. F. A. Hayek, in his Denationalization of Money, warned us about how good central bankers did in order to let people forget the link between money and gold. That knowledge has resurged thanks to Bitcoin’s birth. From the dynamic process known as the free market, people tried to satisfy their need to put an end to…