The following piece first appeared on Steemit on December 17, 2017:
Bitcoin’s recent surge in price to astronomical levels has launched blockchain awareness out of the shadows and onto the tip of everyone’s tongue. Beyond dreams of making a quick buck or developing new currencies not tied to central banking, this technology’s triple-entry bookkeeping concept is a revolution in accurate and trackable data management.
Whereas single-entry bookkeeping was naturally prone to error, the double-entry method which we have used for centuries still leaves ample room for malfeasance. Only now with the convergence of technology and worldwide internet connectivity is this new redundant and transparent method possible.
Today many people from all walks of life are bitter about how central banking and globalism have made a hell of the modern world, particularly when things seemed so promising at the turn of the century. In the wake of so much disillusionment, disruptive technologies such as blockchain and cryptos are seen by some as potential saviors enabling wealth extraction from a corrupt system as well as offering a people-first economic approach.
But this rebellious and idealistic dream may in fact open a Pandora’s Box of unintended consequences that few people have considered. Buckle up for a winding ride as we make some startling connections.
First consider what blockchain promises: transparency, accountability, security, a perpetual paper trail that is both easily accessible and which cannot be forged or altered. Ostensibly this is what everyone in society wants: realistic, accurate data so one is able to make confident decisions.
But looking back on the past fifteen-plus years of life in America, it seems as if the real-world playbook preaches the antithesis of this forthright philosophy. On September 10, 2001, Secretary of Defense Donald Rumsfeld announced in a press conference that the Pentagon could not account for $2.3 trillion dollars. And today that number exceeds $10 trillion, making a person wonder if our system is not only susceptible to corruption, but in fact deeply rooted in such obfuscation—and not simply to get ahead or even survive, but as an extension of its true identity.
Some other major events with shady overtones are: the 9/11 attack itself which resulted in a double insurance payout for the World Trade Center’s new owner Larry Silverstein. The subsequent 2003 invasion of Iraq led to billions of dollars being paid to private contractors, convoys to nowhere as chronicled in the 2007 documentary “No End in Sight,” and even pallets of cash totaling $12 billion being dropped all over Iraq—as if someone wanted to fund a new insurgency into existence, and which now haunts us to this day in the form of ISIS.
Also of interest is the 2006 documentary “Who Killed the Electric Car?” which explores how the late 90s General Motors EV1 was subsequently recalled and destroyed seemingly without cause. Yet only shortly afterward the hybrid revolution began with models like the Toyota Prius, and shortly followed by all-electric models from Tesla and the Chevy.
It’s as if the EV1’s only fault was in preempting the oil industry’s timetable for phasing out the combustion engine. It’s like some weird mishmash of the movies “The Formula” and “The Big Short.” In the former, George C. Scott tries to track down a WWII-era synthetic oil formulation, and in the latter Christian Bale finds that the big banks delay paying him off for his prescient gamble until they themselves have found a position to be able to also profit off the deal.
Which is a perfect segue to another dark moment of our time, the multi-trillion dollar bailouts for Wall Street in the wake of the 2008 financial crisis. While millions of Americans lost retirement savings and homes to foreclosure, the government propped up “too big to fail” institutions by way of virtually unlimited funds with no oversight. Somehow the country has remained overtly functional for the last nine years, but the detritus and lingering resentment under the surface probably was one ingredient that led to the surprise election of political newbie Donald Trump last year.
The most recent macro lie of significance is the 2010 passage of the Affordable Care Act, which has caused so much financial and mental aggravation in recent years—not to mention all the extra paperwork. Needless to say its failed launch, being upheld by the Supreme Court through the semantic loophole of calling its mandate “a tax,” and the pragmatic scrambling of health insurance carriers away from such a disaster, has left a nasty film of resentment across the land which is ignored only by the most enamored Obama supporters.
Bottom line on the ACA: mountains of money have been wasted, healthcare has diminished both in options and quality, and people are suffering and dying. No amount of catchy jingles or billboards full of happy hipsters can gloss over such a horrendously flawed program. We still await final reckoning for this debacle while many Americans come to grips with the fact that changing their diet and exercise habits is a more reliable fix than holding out for some single-payer system to replace the ACA.
Now, to bring this all back to blockchain, consider if any of these major events had been subjected to the honest accounting that this new technology promises. How would the American people have reacted to some Pentagon bureaucrat authorizing millions of dollars of hundred-dollar bills being loaded up onto pallets (as happened for a second time when Obama airdropped $400 million in cash to Iran in 2016)?
Consider the Red Cross, a charity so inefficient that it has drawn boycotts in the wake of recent disasters. And what if triple-entry accounting had been implemented while the Clinton Foundation operated in Haiti? Now are you starting to see the showdown that’s out on the horizon?
Let’s explore: several years ago I told a close friend that the upcoming young generation is a unique combination of selfish and altruistic values that may very well save us all. They’re so spoiled on a personal level yet aggressively seek equity for apparently every living person on Earth. I think the recent wave of racial advocacy and sexual harassment claims is but a raw expression of this core value which desires transparency and truth.
But what this generation doesn’t yet see is that beneath individual cases of perversion or the nebulous legacy of “white privilege,” is a monstrous wall of corruption which has ensnared this country at least since the end of WWII. And if they think they can just overturn every rock in the name of the fairness that blockchain promises, they are in for a brutal fight.
The “empire” is not going down just because some androgynous college students gather in the streets. If TPTB can’t first absorb you (by adopting, co-opting, or integrating Bitcoin, for example), they will attack you with all their might. Because we’re not just talking about charities that cook their books, or individual taxpayers who try to shave off a couple thousand dollars they owe each year.
We’re talking about major institutions that operate for decades and whose tentacles extend across the world. The web of incestuous DC insiders who siphon off billions of dollars from “flyover country” on an annual basis while they cycle through cushy government and private sector jobs. The nexus fromWall Street to Congress which creates the illusion of solvency, functionality, and even indignation when it makes good theater to keep the human livestock at work and paying taxes.
Bottom line, if the Idealistic Generation gets its way they may very well expose and undermine this smokescreen of prosperity and functionality to collapse the very paradigm itself. If programs like Social Security, Medicaid, and various pensions are revealed as indebted beyond redemption, then the currently accepted world construct where America is the central linchpin will be fractured. Chaos will ensue as the power vacuum seeks to be filled by the likes of China or Russia, or taken advantage of by rogue states or death-obsessed ideologues.
But if this is the real gambit that SJW activists are precipitating beneath their anti-Trump rhetoric, do they even realize it? How many of them have the vision to see where the momentum is headed, considering how immature, erroneous, and shortsighted their internal GPS seems to be?
So how does a person with the prescience to see blockchain’s value act or invest when the best-case scenario of the coming collision poses the danger of a soft civil war where one side seeks an undefined equity at all costs, and the Goliath in charge seeks not to just save its own skin but prevent a devastating worldview earthquake which could destabilize the present balance to the point of no recovery for centuries?
Considering the political climate both in DC and among the public, is it hyperbole to fear that America is on the precipice of losing its standing in the world? The DC swamp draining revelations may be so demoralizing as to be unrecoverable for our shocked nation.
And if blockchain actually threatens to reveal the entire global economy as nothing but an insolvent Ponzi scheme full of debt bubbles, skimming from the till, money laundering, drug running, and human trafficking—then is there even a strong enough bridge to get from the ugly status quo to that idealistic and transparent other side?
I foresee a lot of blood, lost fortunes, and collapsed infrastructure before that day ever comes. So invest in crypto all you want, but just be sure to have some canned food and loaded brass to protect your cold, hard wallets.