The text below is a direct excerpt from Marty’s Bent issue 1178: “The pressure forcing alternative transaction relay solutions.” Sign up for the newsletter here.
Earlier today, I had a conversation with Luke Gromen, Founder and President of Forest for the Trees. The discussion really brought home some things that I’ve been trying to articulate in this rag over the past few weeks. Mainly that producing and controlling assets like energy, industrial metals, and food is far more important than controlling the world’s dominant fiat currency when shit hits the fan.
I highly recommend you freaks take the time to check out the interview when you get the chance. Towards the end, Luke explains that the people in the Ministry of Defense playing war are some of the only people in government who are willing to admit that embracing bitcoin and actively working to transition to a bitcoin standard is the best decision. strategic that the United States could take. at this stage. Moving to a well-distributed peer-to-peer currency system when many big players may be looking to ditch the dollar is a trump card on the table. It is certainly not an easy card to play as it would involve admitting that traditional monetary policy has been completely wrong for decades, but the card is certainly in play.
The academic economists who roam the halls of the Federal Reserve and Treasury Department are adamantly opposed to bitcoin for the reason stated above, it is diametrically opposed to the policies they have instituted for over half a century. They are highly unlikely to be the ones to pull bitcoin’s trump card over the rest of the world. With that in mind, one has to ask, “How can we pull the trump card and prepare the United States for greatness in the digital age if the people we need to pull the card don’t want to, because it reveals that they are completely wrong on everything do they claim to be experts?”
Well, monsters. You’re looking at one of the industries that produces some of the assets that we think are pretty important to control; the energy sector. If the energy sector embraces bitcoin by implementing mining into its operational stack and/or normalizing bitcoin on the balance sheet as a reserve asset, it could be the industry that ends up pulling the trump card. Energy is the basic layer of society. Without it, we wouldn’t be able to enjoy life as we know it today. If power producers develop the testicular strength to band together and take the bold step of adopting a Bitcoin standard, it could make trumping inevitable. Again, energy is the basis of everything we enjoy today and if those who supply the energy market demand payment in bitcoin, it will be difficult to reverse the trend in the other direction.
“That’s crazy, Uncle Marty.” What’s even crazier is that energy producers have more incentive than ever to band together and take this bold stance. With the rising costs of extracting and delivering their products to market due to accelerating inflation, the only way to ensure that their businesses are able to maintain profitability is to convert their rapidly inflating dollars in bitcoin which is the hardest money the world has ever seen happening. be at the very beginning of its monetization phase. Adding bitcoin to their stack can be the best way to stay profitable. Even better, they can also use bitcoin to speculatively attack their own dollar-denominated debt.
Imagine all the oil and gas companies banding together and making that decision. The buying pressure would be so intense that it would likely cause the bitcoin price to rise significantly. Offer everyone involved the opportunity to restructure their balance sheets by quickly paying down their dollar-denominated debt. Create a golden opportunity to manifest an industry reset and create a base from which companies can attempt to do incredibly bold and innovative things.
It’s a matter of energy, silly.