how #capitalism destroys itself: #Inequality as a structural feature: Wealth concentration has returned to #GildedAge levels in many countries. The top 1% owns roughly 45% of global #wealth ( = #assets such as #houses #land #water #energy #minerals )

Demand erosion: Extreme #inequality hollows out the #consumer base that #capitalism depends on.

The #seigniorage problem. When a private institution (or semi-private, as the #Fed is) has the power to create #money, it captures enormous #wealth (#assets) simply through the act of creation — before that money has even done anything productive

most powerful and least visible form of wealth extraction ever invented

The harder truth: If #moneyprinting and #asset #ownership have become so divorced from productive #economic #activity that only destruction and conflict #war seem to #reset the system, that suggests the #system itself is #fundamentallybroken—not that war solves anything.

@3paul_k
We need a return to saving… conserving, and finally we have a decentralised Bitcoin currency that can help us do that.

Finally a #deflationaryCurrency that rewards people who save, and who aren't consuming and speculating relentlessly with fresh cash from #moneyPrinting. Watch them try to bait-and-switch into #CentralBankDigitalCurrencies.

We must foster #generalComputing where everyone has freedom to control how their #computer works.