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Capitalism Failed

Let me begin with the contentious statement that Capitalism has failed. That isn't entirely true, of course, but it is true in the most important sense. To understand this failure, and what can be done to correct it, we must first understand Capitalism itself.

The sales pitch for Bitcoin could be; "money without banks". Not only can you conduct financial transactions without some regulating authority (and by implication do so anonymously), but you can also mint your own money from nothing. It's an economic utopia which liberates us from both corporate and government control, whilst eliminating poverty.

The reality is very different, both in principle and in practice.

We Bring You Freedumb!

And how it directly opposes democracy

Charles Manson had "freedom". Adolf Hitler had "freedom". Osama bin Laden had "freedom".

So too do the banksters who raped us for billions, the oil barons and weapons manufacturers that drive the war economy, and the world's richest 8 people, who between them hoard the same wealth as the poorest 3.5 billion (all of which they accumulated by stealing the profits of other people's labour - i.e. capitalism).

"Freedom" is not a noble aspiration, it's something you do when you don't give a damn about other people. It's the creed of predators.