TD₿: The Euro: A Train That’s Running Out of Track by Sam Callahan
TL;DR The euro is a shitcoin. Bitcoin is winning.
Hey Bitcoiners,
Wow - today I woke up to a blog post written by the ECB that made me spit out my coffee and laugh, and laugh, and laugh.
As expected, the post is full of scary language and misinformation about Bitcoin that doesn’t need to be repeated here.
What this really shows is that the ECB knows that Bitcoin is a threat to its existence and its future plans to launch a digital euro. The ECB is lashing out at the one thing that can take power away from them in a sad attempt to stop its continued adoption.
This blog post comes at a time when the ECB’s credibility is at an all-time low.
The clip below is from nearly a year ago. It features ECB President Christine Lagarde, and it highlights the ECB’s ongoing incompetence. In it, she projects that CPI inflation in the Eurozone will decline in 2022. (oops!)
Price stability is literally the ECB’s ONLY job, and it is currently failing miserably at it. Instead of CPI inflation going down, like Lagarde wrongly predicts above, CPI inflation in the Eurozone has hit new record highs in 2022 and currently sits at 10% YoY.
The ECB’s attack on Bitcoin should come as no surprise to anyone who’s been paying attention. Over the last two years, ECB officials have been on a global speaking tour to universities, political forums, commercial banks, central banks, parliaments, and other international gatherings, slandering Bitcoin and promoting Central Bank Digital Currencies. I know…I’ve read the transcripts of the speeches.
They hate Bitcoin because Bitcoin offers individuals an escape from their plans to enslave the citizens of Europe in a digital surveillance coin. This digital euro would entrap them in a depreciating currency and allow the ECB to enforce things like targeted monetary policy and negative interest rates. This is all laid out in the ECB’s research papers.
Don’t believe me? Christine Lagarde said the quiet part out loud in 2021.👇
When the ECB was created, the monetary sovereignty of individual European nations was taken from them. Since the launch of the euro, the Eurozone has sunken into a period of economic stagnation, high unemployment, and, now, sky-high consumer price inflation.
I’m hesitant to shill my own work…but I did a deep dive into the history of the euro and the challenges it faces in this piece, which is right on topic here. (08/29/22)
The ECB is desperately trying to hold together a monetary union that was doomed to fail from the get-go. To do this, they will attempt to introduce a digital euro that will give them more control and power than ever before. They will desperately try to hold onto this power and attack anything that threatens it, i.e. Bitcoin.
This blog post was the ECB showing its hand. Bitcoin is winning, and they’re scared. They can fight it, but they can’t stop it. It’s like throwing punches to fight the wind.
The ECB says Bitcoin is “on its last gasp,” I would bet my entire bitcoin stack that the euro will collapse and be wiped from this Earth long before Bitcoin ever does.
Tick tock next block,
Sam Callahan
PS - The way to beat the ECB is to buy bitcoin and take self-custody of it. Check out a free webinar tomorrow with Stephan Livera to help you learn how to do this.👇
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Meme of the Day
(h/t @SymbolSatoshi)
A great post (coming from an European 😀) Here's a related song (a shameless plug) https://youtu.be/S99tOmXywZU
...then they fight you...