Sacrificing people is an unmoral choice. Responsible behavior is a great place to begin if you desire a better society.
This opinion editorial is by Mickey Koss (West Point graduate with an economics degree). After serving four years in the infantry, he was transferred to the Finance Corps.
Subjective values cannot be used to force objective measures. They also open society up to anti-freedom and antiindividual action for the greater good.
The problem is that those who don't value Bitcoin have decided that they lack subjective value and that censorship of energy use in the name of social good is a justification. They don't seem to be aware of the precedent it sets.
- We're reducing the heat on your air conditioner because it's too hot.
- We believe that watching "The Kardashians" is a wasteful use of power so we are going to decrease the power entering your home.
- We are cutting gas to your furnace because it isn't cold enough.
- We're going to restrict your ability to buy fuel because your car is too large to drive on its own.
- Bitcoin is a wasteful of energy. We need to ban mining and change the code.
Each statement is basically the same. Someone is forcing them to live by their subjective values. Although the examples may seem absurd at first, I didn't think a farmer would need to protest in order to continue farming until it began happening in the Netherlands.
These are all things that can be justified for the greater good and benefit of society.
"It is therefore necessary that the individual finally realize that his ego is of no significance in comparison to the existence of a nation, and that the position of an individual is only conditioned by the interests of a nation as a whole." Adolf Hitler
There are no groups. There are no group effects. There are only individuals. Although we can work together to create a society, the society cannot be affected by us as individuals.
Keynesian Values Revealed
I will never forget how the math was used to justify minimum wage increases in macroeconomics class at grad school. We were to use the demand and supply curves to calculate the increase of unemployment and the wage gains for those still employed after the minimum wage hike.
Your conclusion must affirm the decision to raise the minimum wage to earn an A+. From the beginning, the formulas dictated the outcome: Wage gains would always outweigh unemployment losses.
It's easy to see how this could be applied to real-life situations. To produce more estimates, you can use equations to estimate. Our math supported the result. Science, baby.
What about the Individual?
Although I was able to do all the math correctly, my recommendation is where I fell short.
"I don't recommend raising the minimum wage as it causes an increase in unemployment. It is wrong to force people from their jobs.
Professor, who had written his dissertation about the elasticity in demand for staple commodities sub-Saharan Africa using estimates with low real world value, casually dismissed the concern that unemployment insurance was being used as justification. This was the No. The No. 1 Public Policy School in the United States was at that time.
"Fuck the plebs. They should be dependent on the government.
The greater good of society can justify any act taken against an individual. There are no limiting principles, and the slope is steep and slippery.
Good Riddance Keynes
I believe the intellectual class is resisting bitcoin because they are aware that it will take away their ability to fine-tune society from their ivory towers.
It's okay for a thousand people to lose their jobs, as long as they are just pseudoscience math equations that make them faceless.
Consider the single mother and the single father of a family of five. These are the first Americans to struggle every day to provide for their children and live a dignified and meaningful life. As I was making these calculations, I couldn't help but think about the broken faces of people who were rushing home to inform their families that they had failed that day. Their fragile existence in this fiat world was now unstable.
If I have to lie to myself in order to get an A on an Economics paper, I'm okay with it.
Bitcoin and The Marionette
I could listen for hours to Dr. Jordan Peterson, bitcoin-famous. To be honest, I have done so and will continue doing so. His analysis of "Pinocchio" for children shows his gift of language.
Pinocchio's story leads him to accept responsibility when he enters into the belly of the beast in order to save his father. Self-actualization is the path to becoming a person. Everyday responsibility is the act that every hero does. We cannot have responsibility if we don't take it on ourselves. Yet, without any scarcity, there cannot be responsibility at both the macro- and policy levels.
The bitcoin standard is a journey that leads to radical self-responsibility. It also cuts the ties of control with the so-called experts who want to control you. We will no longer be puppets, marionettes dancing through life on the end of a fiat strings.
We will no longer be statistics and aggregates. These are parts of deliberately convoluted equations that were used to justify sacrificing for the common good. This will not be possible with the bitcoin standard. Blanket dictats won't be financially viable after scarcity is reintroduced to the market.
Without the individual, there is no society. There is no society without the individual. Only individuals can make decisions at the margins. Sacrificing people is wrong and will continue to be so. Responsible behavior is a great place to begin if you want a better world. This is what Bitcoin does.
This guest post is by Mickey Koss. These opinions are not necessarily those of BTC Inc. and Bitcoin Magazine.
Frequently Asked Questions
How much should you have of gold in your portfolio
The amount of money you need to make depends on how much capital you are looking for. For a small start, $5k to $10k is a good range. As you grow, it is possible to rent desks or office space. You don't need to worry about paying rent every month. You just pay per month.
Also, you need to think about the type of business that you are going to run. In my case, I am running a website creation company, so we charge clients around $1000-2000/month depending on what they order. If you are doing this type of thing, it is important to think about how much you can expect from each client.
If you are doing freelance work, you probably won't have a monthly salary like I do because the project pays freelancers. You might get paid only once every six months.
So you need to decide what kind of income you want to generate before you know how much gold you will need.
I recommend starting with $1k-$2k in gold and working my way up.
Is it a good retirement strategy to buy gold?
While buying gold as an investment may seem unattractive at first glance it becomes worth the effort when you consider how much gold is consumed worldwide each year.
The best form of investing is physical bullion, which is the most widely used. You can also invest in gold in other ways. It's best to thoroughly research all options before you make a decision.
For example, purchasing shares of companies that extract gold or mining equipment might be a better option if you aren't looking for a safe place to store your wealth. Owning gold stocks should work well if you need cash flow from your investment.
You can also invest your money in exchange-traded fund (ETFs), which give you exposure to the gold price by holding securities related to gold. These ETFs may include stocks that are owned by gold miners or precious metals refining companies as well as commodity trading firms.
How do I Withdraw from an IRA with Precious Metals?
You first need to decide if you want to withdraw money from an IRA account. Make sure you have enough cash in your account to cover any fees, penalties, or charges that may be associated with withdrawing money from an IRA.
If you are willing to pay a penalty for early withdrawal, you should consider opening a taxable brokerage account instead of an IRA. You will also have to account for taxes due on any amount you withdraw if you choose this option.
Next, calculate how much money your IRA will allow you to withdraw. This calculation depends on several factors, including the age when you withdraw the money, how long you've owned the account, and whether you intend to continue contributing to your retirement plan.
Once you know how much of your total savings to convert to cash, it's time to choose the type of IRA that you want. While traditional IRAs are tax-free, Roth IRAs can be withdrawn at any time after you reach 59 1/2. However, Roth IRAs will charge income taxes upfront and allow you to access your earnings later without additional taxes.
After these calculations have been completed, you will need to open a brokerage bank account. Many brokers offer signup bonuses or other promotions to encourage people to open accounts. Avoid unnecessary fees by opening an account with your debit card, rather than your credit card.
When you finally get around to making withdrawals from your precious metal IRA, you'll need a safe place where you can store your coins. Some storage facilities can accept bullion bar, while others require you buy individual coins. Before you choose one, weigh the pros and cons.
For example, storing bullion bars requires less space because you aren't dealing with individual coins. But, each coin must be counted separately. However, keeping individual coins in a separate place allows you to easily track their values.
Some prefer to store their coins in a vault. Some prefer to keep them in a vault. No matter what method you use, it is important to keep your bullion safe so that you can reap its benefits for many more years.
How Much of Your IRA Should Be Made Up Of Precious Metals
It's important to understand that precious metals aren't only for wealthy people. You don't have to be rich to invest in them. There are many methods to make money off of silver and gold investments.
You could also consider buying physical coins like bullion bars, rounds or bullion bars. Also, you could buy shares in companies producing precious metals. Your retirement plan provider may offer an IRA rollingover program.
You can still get benefits from precious metals regardless of what choice you make. They offer the potential for long-term, sustainable growth even though they aren’t stocks.
And, unlike traditional investments, their prices tend to rise over time. If you decide to sell your investment, you will likely make more than with traditional investments.
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- 7 U.S. Code SS7 – Designation Boards of Trade as Contract Markets
- 26 U.S. Code SS 408 – Individual retirement accounts
- Are You a Good Candidate for a Gold IRA
- What are the Options? Types, Spreads, Example, and Risk Metrics
How to keep physical gold in an IRA
An easy way to invest gold is to buy shares from gold-producing companies. However, this method comes with many risks because there's no guarantee that these companies will continue to survive. There is always the chance of them losing their money due to fluctuations of the gold price.
Alternative options include buying physical gold. You'll need to open a bank account, buy gold online from a trusted seller, or open an online bullion trading account. This option is convenient because you can access your gold when it's low and doesn't require you to deal with stock brokers. It's also easier to see how much gold you've got stored. You'll get a receipt showing exactly what you paid, so you'll know if any taxes were missed. There's also less chance of theft than investing in stocks.
There are also some drawbacks. Bank interest rates and investment funds won't help you. Also, you won't be able to diversify your holdings – you're stuck with whatever you bought. The taxman might also ask you questions about where your gold is located.
BullionVault.com is the best website to learn about gold purchases in an IRA.
By: Mickey Koss
Title: Forget Sacrificing For The Greater Good, Self-Responsibility Is The Way To A Better Society
Sourced From: bitcoinmagazine.com/culture/self-responsibility-leads-to-better-society
Published Date: Sat, 24 Sep 2022 07:00:00 GMT