TD₿: Anatomy of the State (a film) by Richard James
TL;DR The State obtains its wealth through seizure and coercion as well as its monopoly on issuing money.
Hey Bitcoiners,
Currently, the State has a monopoly on issuing money. Fiat currency is coerced onto the population in the form of taxes and the threat of violence or imprisonment.
Over the years, the State has wielded this power and managed to impose massive obligations on future generations to pay for everything from wars to large entitlement programs.
The current US national debt has soared to $91,116 per US citizen!
As the debt has exploded since 1960, so have the amount of taxes paid by everyday Americans. Americans now pay so many different taxes it’s hard to keep track including income tax, sales tax, estate tax, property tax, capital gains tax, and the list goes on.
It’s estimated that Americans currently spend ~30% of their income on taxes each year. Our founding fathers are rolling over in their graves.
Throughout the last century, we have seen the State become larger and larger as they used their monopoly on money and violence to gain power.
Filmmaker Richard James aptly summarizes Murray Rothbard’s seminal book, “Anatomy of the State” in this short film.
It’s important to understand how the State functions to better understand the problems Bitcoin fixes.
Bitcoin separates the money from the State.
Tick tock next block,
Cory Klippsten
PS - You can read Murray Rothbard’s book for free here.
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Quote of the Day
“The greatest danger to the State is independent intellectual criticism.” - Murray Rothbard, Austrian Economist
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