Max Keiser – The Bitcoin Prophecy Is Coming To Pass
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Referring to Henry Ford’s 1921 New York Times article, Max Keiser and Stacy Herbert assert that Bitcoin has come to replace gold as a store of value. They also debunk the myth that Bitcoin consumes excessive energy. Here is the summary of the report:
100 years ago, Henry Ford, a great businessman suggested that wars could be forever prevented if only there was a currency denominated in kilowatt-hours. The question now is: “Does this sound like something that now exists?” So, Henry Ford and other great economists are saying energy-backed money is the best option.
Bitcoin is becoming the gold standard when it’s being secured at the moment with less than one-half of one percent of all the energy produced on earth. And we know that 25% of all the energy produced is wasted energy. So, a very small amount of wasted energy is used to secure a monetary network that ensures that 8 billion people have individual sovereignty and monetary freedom. It’s incredibly efficient compared to everything else that has come before it because Bitcoin is being backed by kilowatt-hours. And Henry Ford’s observation is true, and Bitcoin is a realization of that dream.
Now, all the energy used for fiat money is backed by violence. According to New York Times, the US dollar is backed by violence. But with Bitcoin, there is no way you can coerce anyone to give you the private keys if it’s properly secured. This doesn’t apply to gold, which is easily confiscated.
El Salvador, which is one of the smallest economies on earth, is now the first to have a Bitcoin standard, and they’re going to use their volcano energy, which is not only stranded but abandoned hugely. Nobody wants to live near the volcano.
The headline of a New York Tribune newspaper on December 4, 1921, said Ford would replace gold with energy, currency, and stop wars. In this news article, Ford offered the idea that all wars would be prevented with a currency based on energy usage. Ford said: “The essential evil of gold in its relation to war is the fact that it can be controlled.” So, break the control, and stop ars, Ford said.
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Keiser Report | War is Over, If You Want It | E1749
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