Sacrificing people is an unmoral choice. Responsible behavior is a great place to begin if you desire a better society.
This opinion editorial is by Mickey Koss (West Point graduate with an economics degree). After serving four years in the infantry, he was transferred to the Finance Corps.
Subjective values cannot be used to force objective measures. They also open society up to anti-freedom and antiindividual action for the greater good.
The problem is that those who don't value Bitcoin have decided that their lack in subjective value justifies the censorship and use of energy for the sake of the greater good. They don't seem to be aware of the precedent it sets.
- We're reducing the heat on your air conditioner because it's too hot.
- We believe that watching "The Kardashians" is a wasteful use of power so we are going to decrease the power entering your home.
- We are cutting gas to your furnace because it isn't cold enough.
- We're going to restrict your ability to buy fuel because your car is too large to drive on its own.
- Bitcoin is a wasteful of energy. We need to ban mining and change the code.
Each statement is basically the same. Someone is forcing them to live by their subjective values. Although the examples may seem absurd at first, I didn't think a farmer would need to protest in order to continue farming until it began happening in the Netherlands.
These are all things that can be justified for the greater good and benefit of society.
"It is therefore necessary that the individual finally realize that his ego is of no significance in comparison to the existence of a nation, and that the position of an individual is only conditioned by the interests of a nation as a whole." Adolf Hitler
There are no groups. There are no group effects. There are only individuals. Although we can work together to create a society, the society cannot be affected by us as individuals.
Keynesian Values Revealed
I will never forget how the math was used to justify minimum wage increases in macroeconomics class at grad school. We were to use the demand and supply curves to calculate the increase of unemployment and the wage gains for those still employed after the minimum wage hike.
Your conclusion must affirm the decision to raise the minimum wage to earn an A+. From the beginning, the formulas dictated the outcome: Wage gains would always outweigh unemployment losses.
It's easy to see how this could be applied to real-life situations. To produce more estimates, you can use equations to estimate. Our math supported the result. Science, baby.
What about the Individual?
Although I was able to do all the math correctly, my recommendation was a mistake.
"I don't recommend raising the minimum wage as it causes an increase in unemployment. It is wrong to force people from their jobs.
Professor, who had written his dissertation about the elasticity in demand for staple commodities sub-Saharan Africa using estimates with low real world value, casually dismissed the concern that unemployment insurance was being used as justification. This was the No. The No. 1 Public Policy School in the United States was at that time.
"Fuck the plebs. They should be dependent on the government.
The greater good of society can justify any act taken against an individual. There are no limiting principles, and the slope is steep and slippery.
Good Riddance Keynes
I believe the intellectual class is resisting bitcoin because they are aware that it will take away their ability to fine-tune society from their ivory towers.
It's okay for a thousand people to lose their jobs, as long as they are just pseudoscience math equations that make them faceless.
Consider the single mother and the single father of a family of five. These are the first Americans to struggle every day to provide for their children and live a dignified and meaningful life. As I was making these calculations, I couldn't help but think about the broken faces of people who were rushing home to inform their families that they had failed that day. Their fragile existence in this fiat world was now unstable.
If I have to lie to myself in order to get an A on an Economics paper, I'm okay with it.
Bitcoin and The Marionette
I could listen for hours to Dr. Jordan Peterson, bitcoin-famous. To be honest, I have done so and will continue doing so. His analysis of "Pinocchio" for children shows his gift for language.
Pinocchio's story leads him to accept responsibility when he enters into the belly of the beast in order to save his father. Self-actualization is the path to becoming a person. Everyday responsibility is the act that every hero does. We cannot have responsibility if we don't take it on ourselves. Yet, without any scarcity, there cannot be responsibility at both the macro- and policy levels.
The bitcoin standard is a journey that leads to radical self-responsibility. It also cuts the ties of control with the so-called experts who want to control you. We will no longer be puppets, marionettes dancing through life on the end of a fiat strings.
We will no longer be statistics and aggregates. These are parts of deliberately convoluted equations that were used to justify sacrificing for the common good. This will not be possible with the bitcoin standard. Blanket dictats won't be financially viable after scarcity is reintroduced to the market.
Without the individual, there is no society. There is no society without the individual. Only individuals can make decisions at the margins. Sacrificing people is wrong and will continue to be so. Responsible behavior is a great place to begin if you want a better world. This is what Bitcoin does.
This guest post is by Mickey Koss. These opinions are not necessarily those of BTC Inc. and Bitcoin Magazine.
Frequently Asked Questions
What Precious Metals Can You Invest in for Retirement?
These precious metals are among the most attractive investments. They are both easy to trade and have been around for years. Consider adding them to the list if you're looking to diversify and expand your portfolio.
Gold: Gold is one of man's oldest forms of currency. It is stable and very secure. It's a great way to protect wealth in times of uncertainty.
Silver: Silver has been a favorite among investors for years. This is a great choice for people who want to avoid volatility. Silver tends instead to go up than down, which is unlike gold.
Platinum: This precious metal is also becoming more popular. It's resistant to corrosion and durable, similar to gold and silver. It's however much more costly than any of its counterparts.
Rhodium: Rhodium can be used in catalytic convertors. It is also used for jewelry making. It's also relatively inexpensive compared to other precious metals.
Palladium (or Palladium): Palladium can be compared to platinum, but is much more common. It's also more affordable. It's a popular choice for investors who want to add precious metals into their portfolios.
What are the benefits of having a gold IRA?
You can save money on retirement by putting your money into an Individual Retirement Account. It's not subject to tax until you withdraw it. You are in complete control of how much you take out each fiscal year. And there are many different types of IRAs. Some are better for those who want to save money for college. Others are designed for investors looking for higher returns. Roth IRAs are a way for individuals to make contributions after the age of 59 1/2, and then pay taxes on any earnings upon retirement. However, once they begin withdrawing funds, these earnings are not taxed again. This account may be worth considering if you are looking to retire earlier.
An IRA with a gold status is like any other IRA because you can put money into different asset classes. Unlike a regular IRA you don't need to worry about taxes while you wait for your gains to be available. For people who would rather invest than spend their money, gold IRA accounts are a good option.
An additional benefit to owning gold through an IRA, is the ease of automatic withdrawals. This means that you don't need to worry about making monthly deposits. To make sure you don't miss any payments, you can also set up direct deductions.
Finally, gold is one of the safest investment choices available today. Because it's not tied to any particular country, its value tends to remain steady. Even in times of economic turmoil gold prices tend to remain stable. This makes it a great investment option to protect your savings from inflation.
How does a gold IRA account work?
For people who are looking to invest in precious materials, Gold Ira account accounts provide tax-free investments.
You can purchase physical bullion gold coins at any point in time. You don't have to wait until retirement to start investing in gold.
Owning gold as an IRA has the advantage of allowing you to keep it forever. You won't have to pay taxes on your gold investments when you die.
Your gold is passed to your heirs without capital gains tax. Your gold is not part of your estate and you don't have to include it in the final estate report.
To open a IRA for gold, you must first create an individual retirement plan (IRA). Once you've done that, you'll receive an IRA custody. This company acts as an intermediary between you and IRS.
Your gold IRA custody will take care of the paperwork and send the forms to IRS. This includes filing annual returns.
Once you've set up your gold IRA, it's possible to buy gold bullion. Minimum deposit required is $1,000 You'll get a higher rate of interest if you deposit more.
When you withdraw your gold from your IRA, you'll pay taxes on it. If you are withdrawing your entire balance, you will owe income tax plus a 10% penalty.
Even if your contribution is small, you might not have to pay any taxes. There are some exceptions, though. For example, taking out 30% or more of your total IRA assets, you'll owe federal income taxes plus a 20 percent penalty.
You should avoid taking out more than 50% of your total IRA assets yearly. You could end up with severe financial consequences.
How Does Gold Perform as an Investment?
Supply and demand determine the gold price. Interest rates can also affect the gold price.
Gold prices are volatile due to their limited supply. Physical gold is not always in stock.
What is a Precious Metal IRA and How Can You Benefit From It?
A precious metal IRA allows for you to diversify your retirement savings in gold, silver, palladium and iridium. These rare metals are often called “precious” as they are very difficult to find and highly valuable. These metals are great investments and can help protect your financial future from economic instability and inflation.
Bullion is often used to refer to precious metals. Bullion refers simply to the physical metal.
You can buy bullion through various channels, including online retailers, large coin dealers, and some grocery stores.
You can invest directly in bullion with a precious metal IRA instead of buying shares of stock. You'll get dividends each year.
Precious Metal IRAs don’t require paperwork nor have annual fees. Instead, your gains are subject to a small tax. Plus, you can access your funds whenever you like.
Statistics
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
External Links
irs.gov
cftc.gov
wsj.com
- Saddam Hussein’s InvasionHelped Uncage a Bear In 1989 – WSJ
- Are you interested in keeping gold in your IRA at-home? It's not legal – WSJ
law.cornell.edu
- 7 U.S. Code SS7 – Designation of boards for trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement funds
How To
3 Ways to Invest Gold for Retirement
It's crucial to understand where gold fits in your retirement strategy. If you have a 401(k) account at work, there are several ways you can invest in gold. You may also want to consider investing in gold outside of your workplace. If you have an IRA (Individual Retirement Account), a custodial account could be opened at Fidelity Investments. If you don't have any precious metals yet, you might want to buy them from a reputable dealer.
These are the three rules to follow if you decide to invest in gold.
- Buy Gold with Your Money – You don't need credit cards, or to borrow money to finance your investments. Instead, deposit cash into your accounts. This will help to keep your purchasing power high and protect you against inflation.
- Physical Gold Coins: You should own physical gold coins, not just a certificate. Physical gold coins can be sold much faster than paper certificates. Physical gold coins don't require storage fees.
- Diversify Your Portfolio – Never put all of your eggs in one basket. This means that you should diversify your wealth by investing in different assets. This can reduce market volatility and help you be more flexible.
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By: Mickey Koss
Title: Forget Sacrificing For The Greater Good, Self-Responsibility Is The Way To A Better Society
Sourced From: bitcoinmagazine.com/culture/self-responsibility-leads-to-better-society
Published Date: Sat, 24 Sep 2022 07:00:00 GMT
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