Declaration of Monetary Independence

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Bitcoin Magazine and other members of the Bitcoin community have drafted an articulate critique of the monetary monopoly of state governments. The document reads like the Declaration of Independence and is worth a read. 

https://declarationofmonetaryindependence.org/

Preamble 

What follows is a document co-authored by several contributors to Bitcoin Magazine and proud members of the Bitcoin community. 

While many people believe that money has always exclusively been a creation of government, this is untrue. There have been many periods throughout history where governments were not the custodians of the money supply. Unfortunately, today almost every nation employs a central bank that has a monopoly on what currency is allowed to be used within their domain. 

The original signatories to this document believe that central banks and governments throughout the world have abused their exorbitant privilege of printing money. This document proposes a new way of doing things. 

We are not calling for an end to the U.S. dollar or any other fiat currency — we are asking to bring an end to monopoly money in every country. Give citizens a choice. 

Let market forces and participants decide if they want this new form of “magic internet money” that is based on rules, not rulers. Bitcoin benefits the entire planet. Those who sign believe bitcoin is a peaceful revolution that favors the billions, not billionaires. We urge you to read it and sign it if you are so inspired. 


Personally, I don’t think Bitcoin has to be or even will be the sole source of money. I think many people will default to a less technical and more tangible form of money like gold and silver. Regardless though, I believe the distributed and tamper proof nature of Bitcoin will serve as a safeguard against monetary monopolies into the future. 

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