Editors ChoiceNote (opinion)

Lords and slaves of money; Bitcoin: The End of Slavery / Part One


Robert Breedlove is a writer and leading activist in the digital currency industry. he in an essay Recently published, it explains how money has become a tool of “slavery” today and proves that bitcoin can put an end to this trend. This article has been translated into five sections, and one section is published weekly on the Digital Currency website. You can read the first part of this article below.

Money is a tool for the trade of human time. Central banks, modern lords of money, use this tool as a weapon to steal precious time and impose wealth inequality. History shows us that corruption in monetary systems ultimately leads to moral decay, social collapse, and slavery. Since it has been proven that the temptation to manipulate money is always stronger than one can resist, the only antidote to this poison is an incorruptible currency: bitcoin.

Knowledge makes slavery inappropriate for human beings.

Frederick Douglas, the leader of anti-slavery in America

In the western part of ancient Africa, beads called “Aggry” were used as money for centuries. These beads were small, glass and decorative. The use of beads of unknown origin was a way of transferring wealth between people in trade (as money) and a way of transferring wealth between generations in society (as dowry and inheritance). In the 16th century, when European explorers arrived in Africa, they soon realized that agri beads were highly valued among African natives. Because glass technology in Africa was primitive at the time, it was difficult for Indigenous beads to produce beads, and because of this, beads were scarce compared to other commodities; A monetary feature that supported their market value.

But in Europe, glass production technology was at a high level. At a low cost, it was possible to produce a large number of counterfeit beads that looked exactly like Agri beads. Soon, many opportunistic Europeans took advantage of this economic opportunity and sailed for West Africa in ships full of counterfeit nuts, which were delicately built at European glassmaking facilities. The scheme was one of the first known large-scale counterfeiting operations. At first glance, the export of glass beads could not have done much harm, but what really happened was decades of plundering Africa’s wealth, national resources, and ultimately precious time.

When European ships reached the shores of Africa, which were full of glass beads, the African natives easily exchanged their hard-earned possessions for pieces of glass that they thought were precious Agri beads. Over the decades, the trade in real estate for counterfeit nuts has allowed Europeans to seize African wealth very secretly; A far-reaching criminal incident that has crippled African society for centuries. Agri beads were later dubbed the “beads of slavery” because as Africans began to fall into poverty, some were forced to sell themselves or others to their European masters. The beads of slavery, another monetary system in history that had been forged by the arms, eventually “Atlantic slave trade»Founded; A business that has been going on for centuries.

Lords and slaves of money;  Bitcoin: The End of Slavery / Part One
In 365 years, more than 12.5 million slaves were taken from Africa to Europe and the United States.

In one of the most brutal satires of history, the same ships that brought fake Agri beads to Africa were loaded with human cargo and sailed to the shores of Europe and America. In an unforgivable act, the masters of these slaves placed them exactly like the boxes of glass beads, in a completely compressed and empty space in the hulls of the ship; Exactly the same nuts that were paid in the first step to buy these human cargoes.

Lords and slaves of money;  Bitcoin: The End of Slavery / Part One
African slaves were placed in the hulls of ships, just like if they were paid to buy them, to be taken to Europe and America.

Unfortunately, the looting of Africa does not end there. A strip of cloth was another form of money used in ancient Africa and had for centuries become a valid exchange medium for trading with Muslim merchants. Indigenous African tribes soon began producing these cloth strips with the local name “Panos”. But they were incapable of competing with the Portuguese in terms of production methods. By creating a highly profitable economic system, the Portuguese used the panos to buy African slaves, and then the same slaves were used to make more cloth ribbons. In fact, slaves produced what deprived them of their freedom. Scottish historian Christopher Fyfe describes this terrible business relationship as follows:

Some slaves were skilled at weaving and weaving in native cotton; The same thing they did in their own land. New, well-crafted patterns were introduced for North Africa, and from the mid-16th century, the Green Cape Panos [نوار پارچه‌ای] It was regularly exported to Guinea to be traded with slaves.

The Portuguese producers of Panos, who made a profit in the offshore sea, soon established a government-sponsored monopoly company called Grão Pará and Maranhão. In this way, all financial flows related to Panos had to pass through the company’s warehouses and businesses. The company forced the use of pens to pay taxes, for slavery contracts, and to hire soldiers. A similar and non-random example in today’s world: The US government has forced to collect taxes, as legal tender, as the currency of oil contracts (modern energy slavery) and as the international reserve currency (what we call “exorbitant privileges”). Use the dollar.

Clearly, we are still faced today with things like Agri and Panos in the global economy: The dollar bill in your pocket is a prime example. What the US government has been struggling to achieve has produced billions in just the push of a button. Just as the Europeans had access to glass-making technology and could make money at a low cost, or, like the Portuguese, who monopolized the production of Panos, central banks also had the monopoly on making money, at a cost. Close to zero. This privilege allows central banks to seize the wealth of money holders whenever they want. Today, central banks around the world are plundering wealth in the same way that Europeans looted unknowingly from Africans everywhere, albeit imperceptibly and less violently.

The disaster that befell the Africans during the Agri and Panos nuts has important lessons for societies in which the central bank is a major player: those who can monopolize the production of money can have manpower forever. When free market forces are manipulated, producers are able to set prices regardless of the consumer situation, and as a result, economic democracy becomes dictatorship and freedom becomes captivity. In terms of money, monopolists can buy human time (read manpower) at an unfair price. In other words, monopoly owners can plunder a person’s time; The evil power that makes them slaves in practice.

Money slaves

The exclusive right to produce money, without a competitor, is won by the same machine; A shameful privilege that monopolists can only maintain through deception and violence. Fake agri beads and panos were weapons to gain human time. Between 1501 and 1806, this privilege led to the direct plunder of the lives of 12.5 million people (as well as the indirect plunder of their children). The Atlantic (Atlantic) slave trade was a slow Holocaust in Africa. Only 2 million people lost their lives while being transported by ship, and those who survived spent the rest of their lives either suffering or having children; Kids to refill the lords’ barn. Let’s look at this sheer atrocity from an economic perspective (excluding people born into slavery): Suppose an ordinary slave can work 5,000 hours a year for 40 years. With this account, the shocking figure of 2.5 trillion (2.5 billion) is achieved. Or, to be more precise, for 365 years, 6.8 billion hours of slaves’ time have been looted every year.

Money slaves

The Atlantic slave trade was as disgusting and ridiculous as its grandeur; Had money monopolists faced free market competition, human history would not have been so terrible. When the market is (without force) competitive, the activity of producers aligns with the priorities of consumers: a driving force that drives the economy toward low prices and technological innovation. Without healthy competition, manufacturers are motivated to do whatever it takes to increase their market share, which includes coercion. Simply put, market competition and pressures keep people right: in this way, market structures and ethics are closely intertwined.

An action is moral when done freely.

Murray Rothbard

Competition is a natural process of finding and discovering: in sports, we find out which team is more worthy in each game; Throughout the season, frequent competition is the way to find out which team is the best overall. In free markets, competition is a set of games that are held to achieve “satisfaction of desires.” Every entrepreneur (by raising capital, money and time) finds better, faster or cheaper solutions to his customers’ problems to prove that his competitors are not capable enough. Market competition promotes honest labor and accelerates civic progress.

As Americans of practical philosophy have said, “Truth is the end of research.” According to this sentence, the free market can be considered as an environment for continuous research focused on finding the truth. The ideas that emerge from the competition hinder the medieval performance of entrepreneurs who want to force their thinking on us.

As William James says:

Every idea we can ride on, every idea that takes us successfully from one level of experience to another, an idea that connects things satisfactorily, an idea that works with confidence, an idea that saves work Beats is strictly and instrumentally correct.

In practice, we can not distinguish between truth and what is most useful. In free exchange markets, the truth manifests itself in the form of accurate prices, useful tools, and individual superiority. Prices dynamically indicate the degree to which market participants are satisfied with the exchange rate, which itself is derived from countless business decisions over time.

The tool that excels the others represents the strongest human knowledge to solve a particular problem. To put it another way, the tools that entrepreneurs produce and the knowledge that is tied to these tools adapt themselves to the desires of consumers until one or more tools or solutions dominate the market. Competitive advantage and competence are two attributes of successful entrepreneurs. With these two, managers can survive economic pressures and continue to generate profits. This truth-seeking function of the free market is inherently repetitive: prices, tools, and competitive advantages are constantly changing in response to market conditions.

In a market game, points are the same as money; A tool used to calculate, negotiate and execute transactions. Market competition is a process that keeps producers right: when competition is suppressed by coercion and violence, the truth is distorted by wrong prices, poor quality tools, and personal destruction; What we see in “legal monopolies”. In the case of money production, monopoly means that the deceitful producers become forgers and (through deception and violence) dominate man’s precious time.

Lords and slaves of money;  Bitcoin: The End of Slavery / Part One
For sale: An old banner from a slave auction in the United States

The next part of this article will be published next Tuesday.

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