“It is better to have a job than protected savings.” -C. Lagarde

In a recent paper, the European Central Bank asserted that Bitcoin functions as an unfair savings mechanism. This assertion is not surprising, especially considering past remarks by the ECB President.

In an earlier video, Lagarde highlighted the priority of maintaining employment over safeguarding savings. She expressed her support for the monetary policies of her predecessors, which focused on fostering economic growth and employment, even if it meant potentially lower returns for savers.

This viewpoint aligns with the ECB's current position on #Bitcoin. The central bank appears to regard personal savings as secondary to its broader macroeconomic goals. By labeling Bitcoin as unfair, the ECB is essentially suggesting that a decentralized, non-government-controlled savings option undermines its ability to manage the monetary system in pursuit of employment and growth.

What the ECB seems to overlook is that Bitcoin provides individuals with a means to preserve the value of their hard-earned savings, independent of central planning commissioners. By criticizing this, the ECB is revealing its preference for maintaining its own power and influence over the financial independence of citizens. In the end, the ECB's opposition to Bitcoin appears to stem more from a desire to safeguard its monetary authority than from any genuine concern for fairness or the public good.

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Hash Rate: 671.44 EH/s
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#asknostr #nostr 💜 https://video.nostr.build/9d7843de81f406ce316659cee4d5d9457203614a59d059ffa55bac70287cdac4.mp4  

 It gets even more disturbing when you think that Lagarde is prioritizing employment over savings even though the ECB has a single mandate, which is price stability. Not like the Fed that has the dual mandate of price stability and max sustainable employment. 

 These statements illustrate one basic assumption in particular: the people (those in command) belong to the system. Each bearer of the system (commanding party) does not grant the commanded party the rights that he himself has. This includes the right to property. 

 Thieves protecting their theft racket, who knew... 🤣  

 Talk about a last hoorah, these folks aren't going to be in positions of power forever. And thank God. 

 People tell you who they are with their words. Listen up! Act accordingly. 

 Becuase God forbid you might save enough to amass an amount of money that might put you on some sort of same level as these fucks. Can't have the swine in the dining hall.

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