Thread by @APompliano

One of the most important arguments for why the United States should embrace Bitcoin appeared in the National Affairs' fall edition.

Here is a breakdown of the argument 👇🏼

The National Affairs article was titled "Bitcoin and the U.S. Fiscal Reckoning."

It was written by @Avik, the President of the Foundation for Research on Equal Opportunity.

There is a concise and powerful explanation of the events that eventually led the United States to abandon the gold standard.

The temporary suspension of the gold standard obviously became permanent, but many people don't remember how it impacted inflation in years to come.

The details are important to understand.

The high debt levels that the United States runs today are only possible because of the abandonment of the gold standard.

Everyone experiences inflation in different ways and the wealthy or elites benefit the most from the devaluation of the currency.

Enter Satoshi Nakamoto and Bitcoin.

"Mises believed that inflation was just as much a violation of someone's property rights as arbitrarily taking away his land"

Quite literally, #bitcoin fixes this.

Gold and Bitcoin are both divisible, unforgeable, divisible, durable, and fungible.

America is going to have to make a choice in the coming years — will we embrace Bitcoin or shun it?

There are 4 recommendations for the US:

1. Make it easy to operate in US
2. Clarify legislation
3. Treasury add bitcoin to reserves
4. Congress to stop Fed creating CBDC

America has the opportunity to be the global leader if it does these four simple steps.

Bitcoin embodies the American ethos.

This freedom technology can be embraced to usher in economic prosperity for hundreds of millions of US citizens.

This is America's game to lose.

The Nation Affairs article by @Avik is worth reading in its entirety.

This is one of the most articulate arguments I've read about why America should embrace bitcoin.

Enjoy :)

nationalaffairs.com/publications/d…