Thread by @davetroy

1/This is, frankly, why Bitcoin and cryptocurrencies exist today. Roosevelt needed to pay for the New Deal.

Wealthy industrialists preferred Mussolini's "third way" model, Fascism, as a better alternative to Soviet Communism and Roosevelt's Liberalism.

2/In response, there was widespread hoarding of gold by the wealthy. They saw Roosevelt's New Deal approach as a kind of communism, and preferred Mussolini's Fascim. They felt by hoarding gold they could prevent the New Deal from happening, pointing to concerns over inflation.

3/The hoarding of gold represented a kind of "private money" rebellion against FDR's plan to save the US economy. In response, FDR made the difficult decision to issue Executive Order 6102 in response, outlawing the hoarding of gold by private industry and the wealthy.

4/This faction of people never forgot what FDR did to them. Peter Thiel, a fan of the book "Three New Deals" exploring Roosevelt, Hitler, and Mussolini's response to the depression. Needless to say, Thiel did not think FDR's response was the best one.

5/Another book, "The Forgotten Man" tells a story of business owners who were seen as victimized by New Deal programs. Thiel, and his John Birch Society ideological forebears, became obsessed with ways to reverse the New Deal ideology.

6/By 1997, the book, "The Sovereign Individual" emerged preaching the end of the state, the elimination of taxes, and the brith of private money — "digital cash." The book's subtitle was "How to Survive and Thrive During the Collapse of the Welfare State."

7/The book was written by anti-tax advocate James Dale Davidson and William Rees-Mogg; their thinking went on to inform Brexit. Later editions of the book changed the subtitle to "Mastering the Transition to the Information Age." Peter Thiel supplied the foreword.

8/The Sovereign Individual was the basis for Thiel and Musk's company PayPal. They wanted to create a new global currency and replace the dollar. This is very well documented.
cointelegraph.com/news/paypal-or…

9/The goal for cryptocurrency is to avenge the New Deal and Executive Order 6102. Biden is now faced with the same situation FDR had: an assault by the wealthy on money itself, and widespread chatter about inflation. FDR addressed this with EO 6102.

What will Biden do?

10/FDR couldn't let his situation fester, and neither can Biden now. Clarity of thinking is required. The "tech" aspects of this are mostly irrelevant for understanding this conflict. This is about private money vs. state money; and fueling Ponzi schemes vs. shutting them down.

11/Because of the speed and global scope of this current situation, it is arguably much more urgent and problematic than what FDR faced. This is a direct assault on US sovereignty and democracy. Call the White House at 202-456-1111 and let them know you are concerned.

12/We can either take action now or take action later. Every day we put this off will make the fallout worse when we do finally take action, which will be unavoidable. @POTUS @WHCOS please take note. This is a national security concern and you obviously know that.