Bitcoin will crush the massive over-indebtedness and money-printing system that leads us straight to the sixth mass extinction

Admir Tulic
Aug 30, 2018 · 4 min read

Unfortunately, new generations are discovering a world in a sorry state.

We are witnessing the unfolding of a well advanced tragedy.

The planet has become an oven, our natural resources are running out, biodiversity is melting like snow in the sun and we continue to advocate financial liberalism.

Experts say that we have entered the sixth mass extinction, the sixth in 500 million years. Two species of vertebrates disappear each year, nearly 60% of animals (birds, mammals, fish, amphibians, reptiles) have disappeared in 40 years and global warming is increasing.

In addition to discovering a devastated world, the new generations also inherit colossal debts from which arise “budgetary constraints” that do not allow us to invest massively in a saving energy and societal transition.

Beyond the public debt, they find themselves, with a personal debt around the neck even before having started to work. So instead of devoting their energy and taking their time to think about saving the planet, they are immediately caught up in the commercial consumer system and forced to work to pay off the debt. Look at the evolution of U.S. student debt. It is the most indebted countries that pollute the most.

We have come this far because of the way money is created

We are destroying the planet because we must create economic growth and we must generate growth because we must repay the debt.

This is the great challenge of our time: to abolish the monetary system of financial liberalism which carries within it the seeds of the debt that I will try to explain.

We must start by saying that there is no money initially in the economy…

This may seem counterintuitive, but the truth is that money only comes into the economy when a loan is taken out. That money disappears completely every time you pay it back. It is “temporary”. Money is created from debt and lasts only the time of the loan.

We have moved from a system where the money supply was relatively stable (because gold is a rare metal that is hard to find) to one where the money supply depends on the size of the debt. So it no longer has a limit.

And since there is no money initially in the economy and we borrow it against interest, it must be understood that it is impossible for everyone to repay their loan AND interest since the amount corresponding to interest is not initially present in the economy.

The result of these mathematically untraceable interests is the pernicious need to go deeper and deeper into debt! It is absolutely necessary to generate new loans if we want to ensure that there is enough money in circulation so that everyone can repay their loan and interest.

We are in a monetary system where interest feeds debt. A system that inevitably requires more debt or risk recession. We prefer to talk about necessary purging.

Debt money is the planet’s number one enemy, Bitcoin its savior

Soon all the governments of the world will have no choice but to erase debts that lead us straight into the wall since they require to produce and consume ever more on a finite planet. On that day, we will have to return to a stable currency that is not created from debt in order not to repeat the same mistake that has sent us to extinction today.

The mistake is that we let ourselves be put into monetary slavery by offering bankers the possibility of creating as much money (debt, it’s the same thing) as they want from debt with interest.

Debt is at the root of the problem. Debt crushes people, destroys our democracies and generates inflation. Why?

Because to make more debt, you have to make the money board work. And more money in circulation means more inflation (we have known since Croesus, six centuries BC, that inflation (generalized price increases) is always and everywhere caused by money).

Inflation only benefits the rich. Why?

Price inflation benefits those who have possessions because the value of their wealth increases without doing anything (stock market owners can tell you a thing or two about it). On the other hand, it penalizes those who have nothing since no increase in wealth compensates for their loss of purchasing power.

Governments need inflation because it allows them to get more money without having to “officially” raise taxes in order to pay down their debt. And yes, a tax collected on a stick at 2 dollars pays more than a VAT collected on a stick at one dollar…

The opposite of money debt is a currency with a stable money supply. This stable currency has a name: Bitcoin

Stable because there are only 21,000,000.

Enough of monetary creation through debt with interest rates that feed the debt. We do not have to pay the debt to the planet Mars but to ourselves! What’s to stop us from resetting the counters? Bankers… And as long as we use their monkey money, we will remain slaves of debt and we will run to the destruction of humanity.

To convince you that the interest rate is at the root of the problem, see that all major central banks are now forced to leave it at 0% as debts have become unsustainable. The interest rate in Japan, for example, has been 0% for 20 years. We have reached the limits of a rotten monetary system to the core.

We need to get off on the right foot by erasing debts, abolishing interest and using a currency that cannot be duplicated. We will then be freed from the need to produce more and more to repay a debt that can only grow because of interest.

Admir Tulic

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