The globalists’ coordinated assault on farming through environmental, social and governance restrictions are directly related to their stance on bitcoin mining.
This is an opinion editorial by Kudzai Kutukwa, a passionate financial inclusion advocate who was recognized by Fast Company magazine as one of South Africa’s top-20 young entrepreneurs under 30.
“I’ve developed a new open source P2P e-cash system called Bitcoin. It’s completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust. […] 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. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.”
By developing a decentralized monetary system that made trusted third parties (the banking system) obsolete, Nakamoto also chipped away at the source of their power: the money printer. It’s the money printer that made it possible for a small clique of central bankers to centralize and seize control of the global monetary system. Though waning, they continue to wield this power to this day.
The top-down, centralized decision-making structure is not unique to central banking, but it pervades all spectra of the political institutions that govern our society today. The World Economic Forum (WEF), the Bank of International Settlements, the International Monetary Fund (IMF), the U.S. Federal Reserve, the European Central Bank and the United Nations are but a few examples of the central planners of our day responsible for setting policy recommendations and regulatory frameworks that range from interest rates to carbon emissions. While, for the most part, these organizations are credible and trustworthy, more often than not, the policy recommendations they make create more harm than good when implemented at the community level. A recent example of this would be Sri Lanka, which is not only bankrupt, but is also experiencing hyperinflation and shortages of basic essentials such as food, fuel and medicine.
It’s a mechanism to further centralize capital markets in the hands of the central planners who get to pick winners and losers based on adherence to a subjective and opaque criteria, instead of on the basis of value created. ESG is analogous to feudalism, in that an elite group of central planners and their cantillionaire cronies allocate capital to causes that further enrich themselves in the name of “social good.” This state of affairs is in stark contrast to Bitcoin which upends this dynamic by guaranteeing inalienable property rights to all participants within the network, not just to an elite few. In the same way that the Chinese Communist Party’s social credit system scores an individual based on their allegiance to the state, corporate companies as well as nation-states pledge their fealty to woke institutional investors and the Davos elite with their ESG scores.
“The economic problem of society is thus not merely a problem of how to allocate ‘given’ resources—if ‘given’ is taken to mean given to a single mind which deliberately solves the problem set by these ‘data.’ It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only these individuals know. Or, to put it briefly, it is a problem of the utilization of knowledge which is not given to anyone in its totality.”
Central planners are not omniscient and therefore cannot accurately steer an entire economy that is composed of infinite complex systemic interactions that each require specialized knowledge. Knowledge which isn’t resident in any single individual or institution. Despite this obvious fact, a handful of central planners are slowly collapsing food production with their policies that do not factor in the unintended consequences of their decisions.
As a fully decentralized system, Bitcoin is the antithesis of central planning. It didn’t just become the beacon of a more just financial system but it represents a more superior governance model. Thanks to proof of work, all the nodes are able to arrive at the same truth independently without a central authority’s coordination. The true embodiment of rules without rulers.
Our current financial system is fueled by credit expansion and consumption. Such a system requires exponential growth to sustain itself. The end result is that the money supply continues to expand and money gradually loses its ability to coordinate economic activities efficiently. Price signals are mutilated in the process, thus erecting an economic Tower of Babel.
ESG is an attack vector that gains control of capital markets through this endless manipulation of money. The monetary policies that are being pursued globally by central planners are at odds with technological gains that would result in lower prices of goods over time. Instead, society is being kept on the treadmill of ever-increasing prices that require more consumption and more production ad infinitum in order to protect a credit-based system that would otherwise implode.
Political metrics like ESG do not hold sway over Bitcoin because it’s a monetary system that is anchored in objective truth. This opens up the room for capital allocation based solely on economic potential and value created — as opposed to “woke” capital allocation. De-growth strategies, top-down centralized management of resources and control of capital allocation via ESG are features (not bugs) of the current financial system. Countries like Sri Lanka are prime examples of the destruction ESG has caused.
In conclusion, should current trends of kowtowing to ESG by governments continue, Sri Lanka will end up being a harbinger of larger things to come in the months ahead.
This is a guest post by Kudzai Kutukwa. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.