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0 sats \ 9 replies \ @Solomonsatoshi 26 Sep 2024 \ parent \ on: The Whipping Boy of Modern Culture - CAPITALISM bitcoin
Adam Smith warned that businesses will always at the first opportunity start scheming how they can collude and fix prices and markets- so, a strong proactive regulatory approach is required to ensure crony capitalism does not take hold.
Unfortunately across most of the 'liberal western democracies' the cronys (capital) have captured and controlled the politicians/regulatory institutions.
If socialism means regulating and preventing market fixing then bring it on.
The current regimes are supposedly designed to regulate markets and capitalists. If it doesn't work under what we have now what makes one think killing the prices system and central planning will be better. We have mountains of evidence showing socialism leads to shortages and poverty. No thanks.
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The current system does Nothing to limit bankers colluding and market rigging- it actually explicitly empowers them to do that!
The current system also allows corporate lobbyists to own politicians via patronage- that is enabling crony capitalism, monopolies, oligopolies and huge inefficiencies.
If preventing market rigging monopolist cartel and oligopoly behaviour is branded socialist then bring it on. Read Adam Smith again if you doubt the need for it.
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That's not socialism. That's the problem.
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Fiat money is not a free market- it is rigged.
And allowing unlimited corporate sponsorship of politicians is not democracy it is cleptocracy.
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I don't disagree. But socialism is even worse. The true deep issue is the state. Centralization of control. The greatest monopoly of all. The solution is freedom, bitcoin and the death of the state. Bitcoin could take away one of the biggest tools of the state/banks.
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I agree however there is still the question of whether nation states that still operate fiat monetary systems will have greater short term ability to focus capital upon warfare and thereby take over any Bitcoin Standard jurisdiction. The bankers are not going to surrender their power willingly.
And if the state is so decimated as you seek who prevents anti competitive market rigging cartels, monopolies, oligopolies etc?