Marty Bent – Mark E. Jeftovic is The Bombthrower

The Davos Class Is Desperate

Marty Bent — Sat, 11 May 2024 17:18:07 +0000

Sapiens is a terrible book

“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” – Satoshi Nakamotopic.twitter.com/EsB4PBdQ0D

— Marty Bent (@MartyBent) May 10, 2024

One of Davos’ favorite front men, Yuval Noah Harari, joined the BIS Innovation Summit earlier this week to spread some laughable anti-bitcoin propaganda. During his chat, Harari opined that “as a historian” he does not like bitcoin because it is a “currency based on distrust”. Here’s exactly what he said:

When I look at bitcoin as a historian I don’t like it because this is a money built on distrust. The central idea of bitcoin is basically electronic gold, that we don’t trust the banks, the governments so we don’t want to give them the ability to create as much money as they like. So we create this bitcoin. It’s a currency of distrust.

I do think that the future belongs to electronic money, but what we’ve seen over the last centuries is that it is actually a good idea to give banks and governments the ability to create more and more money in order to build more trust within society. So, I’m not sure what money would look like in 20 years or 30 years, but I hope that it would be a currency of greater trust and not a currency of distrust. -Yuval Noah Harari, famed Malthusian Nihilist and mediocre author

Wow. This is what we in the psy-op world like to call “gaslighting”. It’s a tactic used to make someone believe something that is totally false and most likely never happened is actually true. When it comes to Harari’s specific comments on the history of humanity he is attempting to gaslight people into believing that giving governments and central banks the ability to “create more and more money in order to build trust within society” has actually happened. Nothing could be further from the truth and one only needs the ability to pick their head up from their phone, look around at the state of the world and recall four years of history to refute this objectively insane point of view.

Do you all remember when a majority of the world’s governments banded together to shut down the global economy while flooding the global economy with TRILLIONS of dollars of liquidity? I think we can all agree that this was most likely the most extreme example of central planning on the political and monetary fronts that the world has ever seen. If we are to follow Harari’s logic that this level of coordination and central control over the monetary system, one would have to be able to look out at the world right now and confidently say that collective trust in governments and banking institutions by the people is at an all time high.

Clearly, this is not the case. In fact, the exact opposite is true. Trust in political and financial institutions is as low as it has ever been. The Common Man is suffering under the weight of price inflation and is beginning to question the validity of government spending programs. Particularly here in the US. The geopolitical landscape is shifting toward a multi-polar world as large governments are finding it impossible to trust each other. This increasing distrust is being driven by the fact that some governments used their “trusted” control over the international monetary system to freeze the assets of a sovereign nation. We don’t even have to mention the bail out of the banks during the Great Financial Crisis, the forever wars in the Middle East, or the silencing of the whistleblowers who tried to make people aware that their governments cannot be trusted. Harari is either completely disconnected from reality or being completely disingenuous. I have a feeling it’s most likely the latter.

This particular line of thinking shouldn’t be surprising coming from Harari and the fact that he said this at a digital summit thrown by the Bank for International Settlements should be even less surprising. The BIS is the top borg bank that would like to cattle herd the world into a digital panopticon that runs on a CBDC that can be granularly controlled by “trusted banks and governments”. Bitcoin is, quite literally, the biggest threat to their existence because it enables individuals to opt-out of a system dependent on trusting central planners.

Trying to tap into people’s emotions by framing the discussion of “electronic money” myopically and attempting to reduce the decision making process to a knee jerk reaction based on the connotation of the juxtaposition of “distrust v. trust” is truly some lowest denominator argumentation. One would have to truly believe that most people are not only dumb, but extremely dumb.

“Distrust in government bad. Trust in government good. Therefore, government controlling money good.” Caveman shit.

Luckily for us, no one is buying Harari’s BS and Satoshi Nakamoto designed bitcoin in a way that allows us to break free from the madness of trusting governments and central banks. As he pointed out in February of 2009, the history of currencies is littered with breaches of trust by governments and central banks. Trusting these entities with the power to issue currency has proven to be catastrophic for whole societies. Trust needs to be completely removed from the process by leveraging a system that cannot be controlled by any individual, group, company or government and that is what bitcoin brings to the world. Individuals shouldn’t have to trust anyone but themselves to know what’s going on with their money. “Don’t trust, verify” is the ethos that bitcoin embodies and empowers individuals with. It’s a beautiful thing and it scares the ever living shit out of the Harari’s of the world.

The Davos class is desperate and scared, as is evidenced by the nonsensical assertion put forth by Harari earlier this week. This should encourage you. Lean in. They know they’re losing the narrative battle.

We’re going to win.

Follow Marty Bent on Twitter and subscribe via Tftc.io.

The CBDC Survival Guide will give you the tools and the knowledge to navigate coming era of Monetary Apartheid. Bombthrower subscribers will get free when it drops (and The Crypto Capitalist Manifesto while you wait), sign up today.

The Insanity In Our World Is Driven By Money Printing

Marty Bent — Sat, 23 Mar 2024 18:43:03 +0000

Fix The Money, Fix The World

Via Marty’s Bent

This chart has been making the rounds on Twitter this week and I think it’s a good image to send you freaks into the weekend with. It’s easy to get swept up in the chaos of the day-to-day volatility that exists in our world. Recently, our minds have been inundated with headlines about illegal immigration, squatters and the degradation of private property rights, war across the world, small battles within the larger “culture war”, increasing prices, and the decisions made by central banks around the world. In the midst of all of this chaos it is important to take a step back and remind yourself of what lies at the core of most of these issues; the fact that we’ve completely broken money.

When you break money, the most important tool humans use to facilitate economic activity, a ripple effect of negative consequences begins to emanate from the root of the world’s engine. Those ripples create the momentum that leads to chaos that we are witnessing today.

Broken money leads people to store their value in sub optimal vehicles like housing. This drives the cost of real estate up unnaturally and increases the gap between the “haves” and the “have nots”. Sowing seeds of animosity. Seeds that, when left to germinate and grow via the further degradation of the money people use, blossom into ugly flowers of Anarcho Tyranny.

This has manifested in the trend of people claiming other’s houses by squatting in them when they are left unattended for an extended period of time. The preferential treatment that has been given to squatters over homeowners in recent years can be seen as the regime which controls the money printers throwing the plebs a bone as they struggle to get by, an attempt to push the productive class to violence against a state unwilling to respect private property rights, or a combination of the two.

Broken money incentivizes governments to allow their borders to be bum rushed by cheap laborers who will take low paying jobs that enable the systemically fragile economy to keep chugging along while simultaneously increasing the chaos that already exists and diluting the values that the natives of this country believe in.

The excess and decadence enabled by a world run on broken easy money allows people to live in a detached reality that leads them to push objectively false narratives. This is why there are running debates about gender and a retreat from merit based compensation.

All of this stems from broken money.

The chart above should act as a reminder to you all that the biggest problem in the world right now is the money. The chart above should also prove to you that the most powerful people throughout the economy are going to fight tooth and nail to protect the broken money because they benefit massively from the fact that it is broken.

Keep this in mind as the chaos increases and narratives begin to form around using bitcoin as money.

Get on the Bombthrower mailing list here and receive a free copy of The Crypto Capitalist Manifesto, which outlined all this. However, by the time you read this it may already be too late to sign up for The Bitcoin Capitalist Letter: new subscriptions will be closed once Bitcoin hits a new all-time high.
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Bank Runs Are Back On The Menu

Marty Bent — Thu, 08 Feb 2024 12:30:16 +0000

Guest post by Marty Bent from Tftc.io

Don’t look now, but it seems that the regional banking crisis is beginning to reemerge after almost a year of hibernation. Last February brought with it the failure of Silicon Valley Bank, First Regional and Signature Bank. At the time, the crisis was quickly spreading and the Fed was forced to step in with an emergency facility known as the Bank Term Funding Program (BTFP), which allowed banks to turn in underwater treasuries in return for cash equivalent to the par value of the treasuries at a very low interest rate. The BTFP is structured as a 1-year loan and Jerome Powell and company announced that they will not be extending the BTFP due to the fact that banks were taking the cash and dumping it into higher yielding facilities at the Fed to take advantage of an arbitrage opportunity that the BTFP opened up, which hindered the Fed’s balance sheet.

This is your life on central planning. Even when the lender of last resort steps in to help out, the banks will seize on the opportunity to take advantage of any opportunity that arises to achieve their yield targets. Even if that means biting the hand that fed you. A real life manifestation of the ouroboros destroying itself.

With the BTFP set to come to a halt next month it seems that markets are taking a gander at the markets, noticing that the 10-Year US Treasury yield is hovering a bit higher than it was when the banks started failing last year, the 30-Year is holding steady well above where it was this time last year, noticing that companies are laying off their employees en masse, and beginning to come to the realization that the problem that led to the failure of the banks last year has not been solved at all. If anything, it has been exacerbated and the ultimate consequences of more than a decade of ZIRP followed by a rapid increase in interest rates are quickly approaching our doorstep.

The sector of the economy that seems to be on the top of everyone’s mind is commercial real estate. The combination of economic lockdowns driving people out of their expensive office buildings and into their home offices and a precipitous increase in the cost of capital has created a perfect storm. Companies aren’t getting funded at the rate they were just three years ago, which mean there are less potential tenants for the owners of commercial real estate properties. The companies who were able to secure funding are rapidly cutting costs by laying people off to stay afloat. And people who see the writing on the wall and are beginning to jump ship are selling their commercial real estate positions for pennies on the dollar.

The banks who have material commercial real estate exposure are in for a rough time and it seems like the dominoes are beginning to fall with New York Community Bank leading the way. I would expect this crisis to begin to unravel rather quickly as we get closer to Spring. Nothing made me more certain of this than Janet Yellen’s comments on Capitol Hill that sounded eerily similar to the reassurance Ben Bernanke gave markets in 2007 when he was asked about the systemic nature of the subprime mortgage market.

Head for the hills, freaks! The counter-signal has been initiated.

In all seriousness, if a banking crisis is about to materialize it is better to begin preparing now as opposed when it is abundantly clear that you are in the midst of a banking crisis. If you are an individual with a good amount of savings that is wholly exposed to the banking system, it is probably a good idea to buy some bitcoin and get it in a wallet that you have control over. Our friends at Unchained can help you secure your bitcoin while eliminating single points of failure in your custody set up. If you are a business in the same boat, I would say that it is an imperative that you lock up three to six months worth of runway in bitcoin so that you can make payroll if shit hits the fan. Unchained can help you out too.

Who knows what’s going to happen at the end of the day, but it’s better to be prepared and wrong about a crisis than it is to be wrong about this being a nothingburger and unprepared. I’m sure if the crisis does reemerge in earnest the Fed and the Treasury will step in with extreme measures. However, if we have learned anything over the last two decades it’s that these extreme measures have extreme unintended consequences and the further they kick the can down the road the more extreme everything gets. The question is how much more road is left before the can crashes into the wall?

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Mark Jeftovic’s forthcoming ebook The CBDC Survival Guide will give you the tools and the knowledge to navigate coming era of Monetary Apartheid. Bombthrower subscribers will get free when it drops, sign up today.

Follow Mark on Nostr, or Twitter.