We Need To Declare Our Independence From The Federal Reserve
It’s time for the Libertarian Party and Bitcoiners to team up and make their voices heard in order to declare our monetary independence from the Fed.
This is an opinion editorial by Joe Moffett, a contributor at Bitcoin Magazine.
The Democrat and Republican parties have been wielding social movements as weapons in a culture war. Is it time the Libertarian Party wields the Bitcoin hammer in the battle against the Federal Reserve?
In the cypherpunk mailing list, Satoshi Nakamoto had a back-and-forth exchange with an unknown cryptographer:
“You will not find a solution to political problems in cryptography.” — Unknown cryptographer
“Yes, but we can win a major battle in the arms race and gain a new territory of freedom for several years.
“Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.” — Satoshi Nakamoto
Between Nakamoto’s emails, the Bitcoin white paper and the source code, there was probably nothing they said with a more aloof tone than this quote. I have to imagine they understood the economic ramifications that would come with developing such a system and this was likely why they remained anonymous. Then again, maybe they were blissfully unaware that there is no more dangerous enemy to the power of the state than economically free people.
Many early adopters of bitcoin were more likely software and tech gurus than they were economists or libertarians, but this comment by Nakamoto was profoundly libertarian. After all, if the government can wage war on poverty, drugs, crime and terror, why can’t libertarians and Bitcoiners alike wage war on money printing? It’s hard to overstate the phrasing here: “e can win a major battle in the arms race and gain a new territory of freedom.”
The Libertarian Party, under new management, recognizes just how important Bitcoin is in this battle. Angela McArdle, chair of the Libertarian National Committee, embraces the importance of bitcoin’s scarcity, self-sovereignty, and censorship resistance. On a phone interview, McArdle shared:
“Inflation is being reported at 8.6%, but if you fill up the gas in your car, you know that it must be higher than that. No one knows the real rate of inflation, but what I do know is you cannot print more bitcoin. You can print dollars perpetually until it’s worthless like Venezuela, but you can’t print more bitcoin.”
Sure, the Libertarian Party is using the language, “Declare your independence from the Fed,” in a metaphorical way, but we can never forget that our country was founded on a very real Declaration of Independence that led to something very tangible.
“We, the members of the Libertarian Party, challenge the cult of the omnipotent state and defend the rights of the individual.”
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