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Dave Troy Profile picture
@davetroy
Jan 3, 2022 • 27 tweets • 9 min read • Read on X
1/There are people who are genuinely trying to talk intelligently about cryptocurrencies, but can’t because they don’t have historical background. This thread tries to correct that by suggesting required reading. First, it’s necessary to know what problem it attempts to solve.
2/Bitcoin is designed to be “sound money.” It can’t be controlled by government. What’s mine is mine, what’s yours is yours, and can’t be “diluted” by shadowy “central bankers,” lurking in their urban apartments, smoking cigars — or worse, eating lox bagels.
3/This has been an obsession of a certain kind of person for over 100 years. Protocols of the Elders of Zion (1903) was an early propaganda piece out of Russia, later amplified by Henry Ford.

en.wikipedia.org/wiki/The_Proto…
4/The creation of the Federal Reserve in 1913 and the Bolshevik Revolution in 1917 terrified the industrial aristocratic class; the mob was at the gate. They were coming for their money, one way or another.

en.wikipedia.org/wiki/Federal_R…
5/The rich did not take this lying down. They began to organize. In 1933 they tried to overthrow the US government and capture or kill FDR, to restore the Gold Standard (sound money) and kill the Federal Reserve. They were not successful.

en.wikipedia.org/wiki/Business_…
6/Meanwhile another idea had taken root: race science, funded for decades by industrialist backers. Also known as “Eugenics,” the theory was that humans could only evolve if “superior” genes were propagated, requiring “competition” and “free markets.”

en.wikipedia.org/wiki/Eugenics_…
7/In 1937, Wickliffe Draper started the Pioneer Fund, which for decades would support a range of “race science” inquiries and informed “research” developing in Nazi Germany. Remember the “Bell Curve?” That’s Pioneer Fund.

en.wikipedia.org/wiki/Wickliffe…
8/A weird cult group called “I AM” also got underway in the 1930’s. It was obsessed with gold (“sound money”) and chanted: “Blast blast blast the Roosevelts from this earth.” Robert LeFevre was convicted in 1940 for his role in the gold cult.

en.wikipedia.org/wiki/%22I_AM%2…
9/LeFevre would go on to found the “Freedom School,” which laid the foundation for and promoted American libertarianism and Austrian economics. One pupil and supporter of the Freedom School? Charles Koch (see Dark Money, by Jane Mayer)

en.wikipedia.org/wiki/Freedom_S…
10/By the late 50’s, the “sound money” goal wasn’t any closer. Candy magnate Robert Welch founded the John Birch Society to avenge “creeping communism” (the enemy of sound money) in the US. Eisenhower was too pinko for them.

en.wikipedia.org/wiki/John_Birc…
11/A similar “anti-communist” movement had been brewing globally, and reunited wartime fascists with emerging networks in Asia (Taiwan, South Korea, etc). The World Anti-Communist League aligned with JBS and “sound money” policies.

en.wikipedia.org/wiki/World_Lea…
12/American libertarianism as promoted by LeFevre was heavily influenced by “Austrian School” economics, which posited that individual gain and competition determined all economic activity, and deduced a framework from that. (Narrator: it’s nonsense.)

en.wikipedia.org/wiki/Austrian_…
13/Still obsessed with gold, competition, and Eugenics, a new generation had entered the fray. Allying with Reagan in 1981, the Council for National Policy set out to operationalize the John Birch Society/WACL agenda. (Narrator: they did #Jan6.)

en.wikipedia.org/wiki/Council_f…
14/By 1988, “I AM” was long gone, but a successor, Church Universal and Triumphant, continued the pursuit. Elizabeth Clare Prophet here cites prominent libertarians Ron Paul, Murray Rothbard, and Anthony Sutton, saying gold is America’s destiny.

summitlighthouse.org/pearls/1988pow…
15/In 1997, two noted libertarians James Dale Davidson and William Rees-Mogg, publish “The Sovereign Individual,” a screed about the demise of nation states, “digital cash” (gold), and disdain for taxes. Peter Thiel later wrote a foreword.

goodreads.com/book/show/8225…
16/Robert Mercer, a computer scientist and linguist trained under John Bircher Revilo Oliver, believes the Eugenics trope that earnings equates to societal value. He later funds Cambridge Analytica and attempts to engineer elections.

nature.com/articles/s4159…
17/Peter Thiel goes on to manipulate American politics and also gets involved in more race science, directly connected to Pioneer Fund characters. He also backs the creation of Ethereum.

bylinetimes.com/2021/12/10/pet…
18/Members of the Council for National Policy tried to do on Jan 6 2021 what their forebears could not do in 1933 with the Business Plot: forcefully overthrow the US government. This is a detailed breakdown of their involvement.

washingtonspectator.org/nelson-cnp/
19/Today, cryptocurrencies are attempting to drive “sound money” by pushing FOMO around Bitcoin, which is propped up by a fraudulent project called Tether. The hope is that “network effects” (Thiel’s specialty) will kick in and drive widespread adoption.

bloomberg.com/news/features/…
20/Bitcoin and NFTs have been packaged as helping “the little guy” get ahead. This is called “class collaboration” and weaponizes working people on behalf of the ultra-rich. Mussolini did this too, under the name “class collaboration.”

en.wikipedia.org/wiki/Class_col…
21/And in fact, most Bitcoin is controlled by just a few people; it’s not “democratized” in any way. Just 0.01% hold 27%. It’s just one more shot at the old “sound money” fever dream, floated on the backs of average people as accomplices.

wsj.com/articles/bitco…
22/No discussion of crypto would be complete without mentioning its staggering waste of energy; or the real goal of displacing the dollar as the reserve currency, so as to maximize oil/gas industry returns over time. Learn about that in my audio series.

soundcloud.app.goo.gl/A7cGUPkP9htc1p…
23/Anyone blindly promoting cryptocurrencies without understanding the full background of “sound money,” gold, race science, and white supremacy is unwittingly advancing an agenda they don’t comprehend. Pretending it isn’t there won’t make it go away.
24/The background provided here is just skimming the surface. There is plenty more. It’s called “history,” and it’s not had near enough attention. So we are repeating past episodes, but this time with tech bells and whistles. Please read up, get informed, and educate others.
25/This is part of an effort to destabilize the world so the “gold” network can gain primacy and “evolve” the human race. I didn’t sign up for this agenda, nor did most people. Awareness can stop it, but it needs to be crushed with prejudice. Just like Smedley Butler did in 1934.
This is one of my favorite segments from this speech of Prophet's. There is an Ascended Master called "God of Gold" who advised that the Federal Reserve is evil. Who knew? Image
And for completeness, I should add that "I AM" did continue as a strain separate from CUT, but the original "I AM" sect founded by Guy and Edna Ballard faded significantly after Guy's death in 1939. You can still find "I AM" teachings derived from the Ballards in multiple groups.

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More from @davetroy

Dave Troy Profile picture
Sep 3
1/Russia and Thiel are done with Trump: Khanna, Massie, Greene, Boebert, Mace, Sherman, McGovern sign discharge petition to force release of Epstein files; will create significant public pressure for dirt on Trump, which will likely be difficult to fulfill.
2/Meanwhile Johnson, who is backed by authors of Project Russia, is running his own parallel game w/House Oversight, promising to release even more. But neither camp is talking about Sen. Wyden’s investigation into Epstein’s $1bn+ money flows that would reveal the full scope…
3/of his activities, which include infiltrating scientific research institutions in the same manner pursued by Robert Maxwell. Outside the prurient and illegal sexual activity, this is where the biggest story lies, and you can expect that Russia, Thiel and their allies…
Read 5 tweets
Dave Troy Profile picture
Aug 16
1/Increasingly bothered by the argument that the path to “intelligence” requires the theft of all known intellectual property. That’s not anything but theft, and if you were actually building “intelligence” it theoretically requires near zero training data.
2/If, as proponents argue, we are simulating human intelligence “in silico” then we should be able to build what amounts to a 12 year old’s mind. A 12 year old can be extremely “intelligent” (genius level in fact) but has necessarily trained on very little data.
3/Few are talking about solving that problem, because we really haven’t figured out the neuro-symbolic architecture to do it. Instead, we are vacuuming up copyrighted works (stored intellectual work of others) and billing that as “PhD level intelligence.” What utter bullshit.
Read 8 tweets
Dave Troy Profile picture
Aug 15
The funniest part about Zuck throwing billions into AI is his naming of the effort as “superintelligence,” as if that alone will manifest the gods. The second funniest part is he desperately tried to manifest the metaverse just 3 years ago — and failed at that, too.
What this tells us is that the core FB properties are aging cash cows and Zuck is desperate to invest billions in anything that will ensure his personal relevance as a tech titan 10-20 years from now. Good luck, but throwing money at things is no guarantee of success.
As @GaryMarcus and I have been saying the last few years, AI is up against some very challenging limits, and despite the massive investments in the space, progress has plateaued. Plenty to be done with what’s been built, but unclear the investments will be recouped anytime soon.
Read 13 tweets
Dave Troy Profile picture
Aug 8
1/Yesterday, OpenAI demonstrated that even after spending untold billions on scaling AI models, LLM’s alone aren’t the ticket to achieving superintelligence. This is linear growth, not an exponential leap, and that has several implications…
2/First, it vindicates people like @GaryMarcus who have correctly argued that language-only architectures lack capacity for reason and actual world modeling, and that neuro-symbolic architectures are needed. I agree, and while we can say “I told you so,” that’s not important…
3/relative to other implications. Much bigger is the coming reckoning in the marketplace. Models are commodities. Application developers have opportunities to make money, but there is likely to be a big contraction in the AI sector generally. That’s fine and a natural…
Read 8 tweets
Dave Troy Profile picture
Aug 1
As the Epstein blackmail/espionage story continues to fall apart, bookmark this for future reference. At some point people will figure this out.
gameb.wiki/index.php?titl…
And then, the New Mexico ranch will finally make sense.
nytimes.com/2019/07/31/bus…
Jim Rutt.
gameb.wiki/index.php?titl…
Read 8 tweets
Dave Troy Profile picture
Jul 29
This aligns with the data-driven analysis we performed. What Acosta may have been indicating is that Epstein was involved as a confidential informant on a case; but there is little else to indicate ongoing large-scale involvement or a sprawling blackmail ring.
That doesn’t mean there isn’t stuff we don’t know and that some of it is material. But it may mean that the government doesn’t have details on it, and that it’s incumbent on journalists to find out more. Our analysis here.
america2.news/we-mapped-jeff…
That said, journalists have doggedly picked over reams of data and leads on Epstein for decades. The idea we can find more when incentives were already so high seems improbable. But let the govt show what they have and let journalists do their work; we’ll see where that leads.
Read 9 tweets

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