Economics Professors Are Luddites Spreading Fear, Uncertainty and Debt

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by Jeff Berwick, The Dollar Vigilante:

Most universities have evolved from being a place where some of society’s smartest would go for some additional learning to a place where most of society’s mindless sheep go into insurmountable debt just to be indoctrinated by morons into communist-style false economic beliefs.

Or, as I have put it in the past, college is where people who can’t think for themselves go for four more years of training.

So it was no surprise when Robert Skidelsky, professor of political economy at Warwick University and a member of the British House of Lords (another sign he’s human garbage), wrote a sniveling piece for FN London titled, “Stop Trying to Reinvent The Monetary Wheel With Bitcoin.”

As the meme goes, it’s like an old man yelling at Bitcoin, so to spare you the headache (and the utter lies), we’ll break down the propaganda for you.

To start, Skidelsky embarrassingly asserts the unmatched “success” of central banks in keeping economies afloat:
“The fact is that human societies have discovered no better way to keep the value of money roughly constant than by relying on central banks to exercise control over its issue and to act directly or indirectly on the volume of credit created by the commercial banking system.”

Roughly constant? There is only one thing constant about fiat currencies. They constantly decline in value. For over 100 years the dollar has been heading towards zero.

If it weren’t for the Federal Reserve Note remaining so “constant,” a gallon of gas would cost just $0.20 today.

The next lie: “Paradoxically, although it is created out of nothing, it will offer no possibility of money ‘creation.’”

Clearly this hack does not understand that bitcoins are digitally mined within a limited, scarce amount. It is, for that reason, a much more sound form of money than fiat paper bills with pictures of dead criminals printed on them… and a pyramid with an all-seeing eye… and if you fold it a few times you can see the twin towers burning, and the Pentagram on fire, printed before September 11, 2001… and printed at will for a cabal of banksters to finance wars and human subjugation.

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