Bitcoin Price Leads Market Downturn, But Ethereum Classic Swims Upstream

milesfranklin.com / by Andrew Hoffman / Mar 21, 2017

Like it or not, we are living through a major inflectionary point in human history; on more fronts; with more lasting, and dramatic changes than any before it.  Yes, there have been hundreds of humanity-altering wars throughout history.  However, never have so many people been impacted by current events; as, for example, there are 7.4 billion people today, compared to 2.3 billion at World War II’s onset.  And while WWII shaped the culture, economic and monetary, and physical borders for generations; in hindsight, until recently, the post-war Era has been “more of the same.”  Only this time, global economic leadership switched from one Western power, the UK, to another, the U.S.; as evidenced by the “reserve currency,” in an increasingly global world, switching from the Pound to the dollar.

Other than the nuclear bomb, which enabled the war to end – technology advancement was not a significant by-product of the war.  To that end, the global fiat currency regime that took over for the previous system – i.e, hundreds of privately-managed fiat and/or gold-backed fiefdoms; was hardly a “technological breakthrough.”  Frankly, it wasn’t until the computer was invented – and exponentially advanced – six decades, and five billion people later, that the world dramatically changed.  Mostly for the better; but as regards technologies’ impact on said fiat regime, it took something inherently bad, and made it a thousand times worse.  In practical terms, the equivalent of a financial nuclear bomb, “weaponized” to wreak maximum political, economic, social, and monetary destruction.  Which is exactly where we stand today – as for all the technology that went into creating it, the world’s most diabolical “financial rocket scientists” couldn’t figure a way to counteract its fatal, historically hubristic flaw.  I.e., no matter how much money printing, market manipulation, and propaganda is applied – using the most advanced financial engineering, high frequency algorithms, and “fake news” sources; fiat money, by nature, is a Ponzi scheme that must – and always has – failed.  Only this time, it is doing so on a global scale, after having bankrupted hundreds of nations, thousands of institutions, and billions of individuals.

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