TWEETSTORM is an occasional feature where we share threads, mostly from Twitter, that we think deserve a wider audience, some are informative, some educational, some amusing and others yet are controversial...we dig these out for you so you don't have to!
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
The Founding Fathers would be bitcoiners if they were around today.
Don’t believe me?
Let me tell you why.
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
It’s impossible to understate the importance of the Founding Fathers.
Not only to US citizens, but worldwide.
•United 13 independent colonies
•Defeated the greatest world power at the time in combat
•Penned the Declaration of Independence, US Constitution, & Bill of Rights
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
These men constructed the greatest foundation for government in history.
The idea was to minimize centralized power – after all, they just revolted against it.
There should be checks & balances on power.
Power should be decentralized.
(S/O @mattcsnow for the dope graphic)
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
I believe the wisdom & bravery of these men makes them heroes.
We should remember them as we go about our daily lives and make our own decisions.
So why would the FFs be bitcoiners?
I'm glad you asked:
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
Thomas Jefferson was an outspoken opponent of central banks, referring to them as “menaces to society.”
#Bitcoin obsoletes central banks and top-down monetary policy.
Bitcoin is rules without rulers.
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
John Adams realized the complexity of money & financial markets all the way back in the 18th century.
Our fiat system today is VERY complex: What will rates be next year?
Tight or loose policy?
QE or QT?
On and on.
Bitcoin is simple - its policy will never change.
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
Samuel Adams didnt just make a good beer. (Actually, his brewing business went bankrupt. But I digress.)
Your property is taken away without your consent every single day via inflation.
Bitcoin’s supply is capped at 21 million.
No more debasement of your hard-earned money.
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
George Washington here with a very timely nugget of wisdom.
This whole debt ceiling fiasco that we encounter every few years would NOT fly with him.
With #bitcoin, you either have the sats or you don’t.
You can't beg the Fed to buy your T-bills to monetize your debt.
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
The Federal Reserve and our federal government are the epitome of this quote from Benjamin Franklin.
Our highest ranking officials place all the importance on today and are willing to sacrifice OUR futures.
Lower your time preference with #bitcoin
.
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
The Federal Reserve is “independent” of the federal govt.
But at the same time:
•Governance of Fed is directly influenced by D.C.
•Chairman of Fed is appointed by the President
•Fed's sole purpose is to purchase government debt James Madison knew the evil this would bring.
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
Just as the Constitution doesn't discriminate amongst citizens, #bitcoin doesn't discriminate against its users.
Bitcoin is free, open source software (FOSS).
Anyone can participate. Anyone can verify the rules themselves.
John Marshall could get on board with that.
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
Thomas Paine would be outraged by the famous saying "Never let a crisis go to waste."
Market crashes, debt ceilings, COVID - doesn't matter.
The federal government will always find a reason to spend.
Doing so will devalue your money and your time.
Bitcoin fixes this.
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
Lastly I will touch on Alexander Hamilton.
AH was actually a proponent of a central bank, which is the antithesis of #bitcoin.
He got his wish in 1791.
Over the next 5 years, the dollar would inflate 72%.
However, he is correct in that the money is the base of a society.
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
Here's the deal: #Bitcoin takes the power of monetary policy out of the hands of a select few.
This type of absolute power corrupts absolutely.
It's unavoidable to resist the temptation to debase.
Bitcoin returns the power of saving back to the people.
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
Bitcoin is
•Fair
•Open
•Simple
•Distributed
These same properties describe how the Founding Fathers wanted the United States to be constructed.
Bitcoin is as American as apple pie.
Trent Dudenhoeffer, CFP®@_tdudenhoeffer
Thanks for reading!
