The US was structured as a republic, not a pure democracy, to protect minority rights from being overridden by the majority. Mechanisms like the Electoral College, appointed senators, and constitutional limits on federal power were intentionally undemocratic to prevent what the founders called "mobocracy."
In a competitive free market, corporate greed is a positive force. The desire for profit maximization compels companies to offer better products and services at lower prices than their rivals to win customers' money. This "greed" directly translates into improved value and a higher standard of living for consumers.
Instead of officially defaulting on unpayable promises like Social Security, governments opt for massive inflation. This devalues the currency so severely that while citizens receive their checks, the money's purchasing power is destroyed, rendering the benefits worthless without an explicit, unpopular cut.
The minimum wage effectively makes it illegal for an employer to hire a worker whose skills are not yet worth the mandated hourly rate. This prevents young or unskilled individuals from accepting lower-paying jobs that would provide crucial skills and experience, trapping them in a cycle of unemployability.
Economist Peter Schiff highlights a historical pattern where countries, except for Japan, that surpass a 130% debt-to-GDP ratio experience internal strife, such as civil war or revolution. This is due to the inability to fund government programs, leading to societal breakdown and extreme political polarization.
The primary driver of Bitcoin's recent appreciation isn't hardcore believers, but mainstream speculators who bought ETFs. These investors lack ideological commitment and will rush for the exits during a downturn, creating a mass liquidation event that the market's limited liquidity cannot absorb.
Contrary to common perception, China holds the stronger hand in its relationship with the U.S. As the world's creditor and primary producer, China can sell its goods to billions of other global consumers. The U.S., as a debtor and consumer nation, is far more dependent on China than the other way around.
For younger generations who are digitally native, the concept of physical value (e.g., gold being a "real thing") is meaningless. They trust the digital realm more than physical storage, viewing both gold and Bitcoin simply as assets whose value is determined by what others will pay.
An asset can only function as money if it has intrinsic value to a subset of the population, establishing a price floor. Cigarettes work as currency in prison because some people actually want to smoke them. Bitcoin, having no underlying use, is like a "digital cigarette" you can't smoke, making its value purely speculative.