One of the primary reasons that people have immigrated for generations to Western nations such as the United States is to enjoy the prosperity and potential for wealth accumulation that their home countries did not offer. The stability and rule of law found in prosperous nations ensured that people’s hard-earned money and property were not in danger of being taken away from them, as is often the case in oppressive regimes.
But what happens when this fertile biosphere of prosperity gradually dissipates? What are the impacts on financial freedom when there is sustained civil unrest, changing perspectives about civil liberties, higher taxation, and a weakening sovereign currency that is gradually devalued after quantitative easing, aka printing much more money to stimulate the economy? In the short term, some of the most financially vulnerable may benefit from the generosity of government. It has been said that the Soviet Union had a 0% unemployment rate, since everyone was guaranteed a job and was paid by the government. The challenge is that eventually the bill comes due, and the wallet is empty.
The Soviets were slowly bankrupted as they tried to compete with US defense spending. They lasted just over 70 years and appeared formidable in every way. Yet, when the money dried up, their collapse was swift. After the downfall of communism, capitalism seemed to be victorious as a system that would withstand the test of time. While it has its challenges and is not perfect, the free-market system is successful long term precisely because of its decentralized approach, where there is no single point of failure.
In its purest sense, a free-market system operates efficiently among private market participants without the interference of government. The more that a central authority gets involved in the regulation of commerce – even with the best intentions of helping the unfortunate – the less efficient the markets will be. Government assistance and regulations affect markets in often unpredictable ways, but one aspect that always gets affected is the devaluation of sovereign currency.
With increasing supply of cash, courtesy of lax government monetary policies, its value gradually decreases, which drives inflation and makes everything more expensive. The dollar buys less than it did before, and this drives a spiraling cycle of further increasing supply to “help” boost the economy. Of course, as Humans, we should want to help each other, and private charitable agencies are often more efficient than government agencies at providing help to those in need. Private charities also encourage the humanity of voluntary charitable giving, rather than forced taxation which can rob compassion from the giver.
The ultimate realization of decentralized free market commerce is represented by cryptocurrency. When one buys a digital coin and benefits from its steady climb in value, it enables even the least fortunate to become wealthy in a dignified manner, without depending on charity. The valuable potential of crypto also inherently leads the marketplace to maximize its opportunities.
For example, a New York City bar owner just announced that he is selling his two bars, Hellcat Annie’s and Scruffy Duffy’s, for either 25 Bitcoin or 800 Ether as payment. This would be the first crypto-only sale of a hospitality business. The owner, Patrick Hughes, told the New York Post he is convinced that crypto is the future, while the dollar is heading in the opposite direction: “The next crisis, you won’t have to run out and buy toilet paper, you can just use your dollars.”
The possibility that an average person who may have bought Bitcoin at a low price a few years ago could now become an owner of two bars in New York City – which will undoubtedly be profitable businesses once the lockdowns end – represents the ultimate freedom and abundance that META 1 Coin Trust advocates.
Crypto stands for freedom, abundance, and empowerment. It is essentially good and does not need big brother getting involved and diminishing its potential. META 1 is a staunch enforcer of human rights and freedoms that are easily deployed and scaled with META 1 Coin, which will encompass the world via the blockchain. META 1 is an alternative to state monetary systems (aka political money). We eagerly look forward to the mass adoption of private non-institutional cryptocurrencies like META 1 Coin since that will be a time of true freedom.