The businessman Jack Mallers today pronounced a critical discourse on the traditional financial system, addressing the history of Fíat money, its social and economic impacts, and the current role of the main digital currency. His intervention occurred in BTC Prague, one of the most relevant events of Bitcoin (BTC) in Europe that was covered by the special envoy of cryptooticia, Iván Gómez.
Mallers, recognized defender of Bitcoin, began his presentation reflecting on the situation of young people and the political context that surrounds them: “When I open Twitter I see many politicians’ names, among which Donald Trump stands out.”
Dedicating his talk to young people, the founder of the Strike Payment Platform added that his generation grew in the midst of a lot of problems created by people who are now dead.
Mallers emphasized the deterioration of social welfare among young people. «The suicide rate is growing. Consumer debt is growing. No one in my generation has hopes. They are not even having children, ”he lamented, still highlighting Bitcoin as” a moral technology aimed at solving the problems generated by politicians of the past. “
In order to explain how this situation was reached, the businessman reviewed some historical points of the global financial system. He recalled that, in 1944, during the Bretton Woods agreements, “they supported the dollar with gold, they gave him a fixed price and created the World Bank.”
«A few decades later the so -called Nixon Shock occurred. When other countries requested the return of their gold due to the high expenditure of the USA. In wars, they were denied, arguing that gold was no longer redeemable by the dollar, which resulted in the current Fíat system, ”said Mallers.
He also mentioned the establishment of Petrodólar in 1974: “An agreement was established with Saudi Arabia to centralize the sale of oil in dollars in exchange for weapons and defense.”
The cryptoactive specialist considered that “with the arrival of Reagan’s economic policies the debt culture was extended … anyone could obtain a loan or financing without credentials.”
Mallers stressed that this model collapsed during the financial crisis of 2008 and that Today we live under what he calls the “Mag7 Dollar”in reference to the dependence of the US currency in seven major technological corporations.
«We have turned money into a weapon. We live in sanctions and under the constant threat of violence. Statistically, the use of sanctions continues to grow, ”he said
When Mallers talks about the use of sanctions, it refers to the economic and political measures that powerful countries, especially the United States and their allies, apply against other countries or entities to press or punish them.
In addition, the specialist mentioned the “triffin dilemma” – the tension between national and international needs faced by the currency used as a world reserve – as part of the current structural problem, and accused the political elites of having acted with full awareness.
“They knew they were destroying the West,” he denounced. He added: “The cost of being the world reserve is not paid in dollars, but with the younger generations, with their physical and mental health.”
Mallers compared the present with past times when, according to his point of view, living conditions were more stable: «Before people married early, they had more children and divorces were not common. Today, fewer people have the possibility to buy a house ».
For the millionaire, All this is linked to money control: «Money is power. Who control money, control society ».
Another of the most forceful phrases of his speech was: «Government debt is a time travel form. It allows to steal from the future, of the next generations, even before they are born ».
According to the Twenty One Capital CEO, the traditional monetary system is not only inefficient, but also immoral. «The Fíat system is a moral violation. It is not an economic problem, it is an ethical problem, ”he said. Faced with this, He defended Bitcoin as an alternative based on much more transparent principles.
«Bitcoin is moral code. Your code establishes: you will not censor, you will not inflate, you will not confiscate, you will not steal, you will not manipulate, ”he summarized.
Towards the end of his speech, Mallers launched a direct criticism of the previous generations: “People who died destroyed our future on purpose.” Therefore, he called to assume responsibility and act from the present.
«We did not choose what we inherit, but we choose what is coming now. Bitcoin is not just an investment, it is a peaceful revolution … The future is not something we expect, but something we build ».
[Este artículo se realizó en coautoría con Iván Gómez]
