[Editor's Note: We have received many interview requests concerning our Bitcoin ATM in Cyprus. Please find more information here, and feel free to contact us at tdv@dollarvigilante.com.]
It's Friday again, and unless you're a tax paying, God fearing, red blooded American who has been executed by a drone by the President's order, you're celebrating another week in the USSA wondering, "How the hell do I get out of here?" Have no fear, that's why TDV is here. To answer all your questions.
On to the feedback…
WHO WILL BE INCLUDED IN THE FALL OF THE WEST?
Hi,
When you talk about the Western financial system collapsing, does this mean the rest will survive? Where does Latin America fit in? Are they considered part of the Western financial system?
Thanks,
Charles
PS: Sorry, I lied….it was actually three questions!….Thanks Again
Jeff's Response:
When I say the Western monetary system I mean all the countries that have, for the most part, bought into this central banking and debt based fasco-communist economies. I normally think of the US, Canada, Europe, Australia and Japan when I say that. I think that the collapse of the USD will bring down almost all fiat currencies in The Great Purging. Although it is possible that something like the Chinese Yuan or Russian Ruble, if gold-backed, could survive… but I’d rather own hard assets than speculate on which government-issued piece of paper survives or not.
I should make clear that I think there will be places that are much better than others to be. I like Latin America and especially Chile because their economy is so much better than the Western countries – mostly because of low/no govt debt, low regulations and a non-Keynesian central bank. That's why I chose Chile as the place to bring Ayn Rand's vision of Galt's Gulch to life. There simply isn't a country that offers a better combination of economic promise, liberty and value than Chile right now.
We think that as the old, corrupt system collapses, the understanding of and desire for liberty and free market economies will flourish. Chile is probably the best country on earth to be as this all happens. Liberty-loving, forward-thinking types will do very well by setting themselves up in Chile before the rush. And those who invest now in Galt's Gulch will be very happy in the near future. Their real estate investment alone will certainly appreciate, but they'll also have a spot in a community of like-minded individuals in arguably one of the very best economies in the world, with great natural beauty and with a degree of freedom that would make the average Westerner's head explode.
[Editor's Note: If you'd like to find out more about Galt's Gulch, Chile, and reserve your spot, click here now.]
HOW DARE YOU CONSERVATIVES BASH THE MINIMUM WAGE!
In Response to: "Don't Bother Raising The Minimum Wage"
Wow, what a bunch of distortions and lies to further shill for the rich. You Cons have been saying this since FDR! And fact is that your whole premise is based on supply-side economics which, has proven several times over the past century to be total bullshit, further adds to the comedy! When people are paid more, they spend more in the local economies and this CREATES jobs and this has been proven over time. So stop already. You look foolish.
Jamaal
Gary's Response:
Ah, liberal economics. Centuries of saying gravity only works in certain parts of the universe…and only when it helps justify wealth transfers!
How is it that putting an extra buck or two (by gun-backed legal force) in the pockets of a couple million minimum wage-earners helps the economy because they have more to spend into the economy…yet putting thousands of dollars in stolen tax money back in the hands of middle and higher income earners wouldn't help?
I can tell from Jamaal's wildly inaccurate, knee jerk reaction of "You Cons" that he favors liberal/Marxist economic theory that supposes progressive taxes are the bee's knees. In fact, in a follow up message he said exactly that. According to him it's only good for the economy when the poorest have a little extra to spend. The state needs to make sure that the more money you have, the more money the state takes…because that extra spending won't help the economy the way the spending of minimum wage-earners would! Because…you know…consistency be damned.
This is leftist redistributionista propaganda dressed as "economic theory". Who gives a flip about the facts?! Jamaal –who hilariously claimed to be white ("No white person's parents ever named their child Jamaal," Jim Karger pointed out)– is playing the same, shabby, tired Marxist dogma that holds economics to be a less-than-zero-sum game of exploitation with the need for price controls and wealth transfers at gunpoint.
I have to ask, why stop at a paltry "poverty level" minimum wage for workers? Why not guarantee every single job pays at enough for the worker to have a "basic" comfort level that includes a decent living space, a reliable car and an Internet connection? You know, like the unions and Occupy Wall Street crowd who want to make sure every after-school job pays enough for a lower middle class life.
Of course, that won't happen because the economy can only bear so much in the way of price controls before the big distortions put so many people out of work that they'd catch on to what a bad idea government interference is. If you guaranteed every shit job worth $4-7/hour was suddenly to be paid $10 or $20/hr, you'd see the negative consequences very quickly. Even the incredibly dim people who subscribe to the need for a minimum wage wouldn't be able to deny the results.
[Editor's Note: Jeff's announcement of the first Bitcoin ATM stirred a lot of questions and concerns about Bitcoin and its ethereal, electronic nature. The decentralized digital currency seems awfully shifty to a lot of people. We plucked this question and answer from the great discussion in the comments section below the article. The answer comes from a poster with the handle "Silver William"…]
BITCOINS ARE WORTHLESS DIGITAL FIGMENTS OF ALTERNATIVE CURRENCY DELUSION
In Response to: "World's First Bitcoin ATM Is Announced – First Location: Cyprus"
Dear TDV,
Re: Bitcoins
They are not real money. They just aren't. I don't care how many articles you read or videos you watch. They are digital and can be worth ZERO or can disappear!
Silver William's Response:
Everything can have a value of zero. If you are starving and thirsty and I control the water supply and sit in the desert with a bunch of gold, I am free to ignore your offers of gold and let you starve. You can have all the gold in the world but at certain situations it wont do you any good. You can't eat it and it will not cure your cancer.
Bitcoin has a value here and now because it allows people to transact over the Internet. That is the value it brings.
It allows you to transact with people you don't know and trust. People that might try and screw you over by double spending coins (but they can't). People that claim the cheque is in the post but due to the blockchain you can publicly check all the transactions. People the might try and turn their back on your transaction and get a refund from paypal. But they can't because all transfers are non-reversable.
You can transact fast, all over the world in micro payments without a central point of failure like a bank or gold backed vault that the government can confiscate.
These are the unique properties it brings and those are properties you need to develop online payment systems. That is value.
