The Currency Catalyst: Reimagining Money's Role
Picture this: 1729, Pennsylvania Assembly. A twenty-three-year-old printer with ink-stained hands and revolution in his eyes stands before the colony's power brokers. Benjamin Franklin isn’t here to ask permission. He’s here to solve a puzzle that’s strangling America in its crib.
Here’s the thing about colonial America that history books get wrong: It wasn’t poor. It was paralyzed. Farmers watched crops rot in their fields, craftsmen’s workshops sat silent—not because people didn’t want to trade, but because they couldn’t. British pounds were as rare in Philadelphia as palm trees, and the colonial economy was suffocating under a system so absurd you might as well have been trading seashells for bread.
Enter Franklin’s “modest” proposal. And here’s the thing about modesty—it’s often revolution in disguise. Franklin’s pamphlet, A Modest Enquiry into the Nature and Necessity of a Paper Currency, wasn’t just a financial proposal. It was a declaration of independence dressed in banking clothes, underpinned by a moral vision: economic freedom as a right, not a privilege.
The genius? Franklin didn’t just create money—he created trust. When a Pennsylvania farmer needed capital, they didn’t bow to London; they mortgaged their land to their own colony’s bank. The currency wasn’t backed by British gold gathering dust across an ocean. It was backed by something Americans could see, touch, and trust—their own soil, their own labor, their own future.
Want to know what makes it brilliant? Franklin turned leaves into liberty. Literally. His printing house pressed actual American leaves into the printing plates, creating patterns as unique as the nation he was helping birth. Try counterfeiting that, London.
And it worked. While other colonies struggled, Pennsylvania’s currency held steady, fueling trade and empowering the economy. Franklin had proven something that bankers spend careers trying to forget: money isn’t about gold in someone else’s vault; it’s about trust in your neighbor’s promise. For Franklin, this wasn’t just a policy—it was a moral stance. He believed that a community should be able to build its own financial future, backed by its own efforts and sweat, independent of distant powers.
Inflation: The Perfect Crime
Look around. This isn’t about gold or silver anymore—this is about theft, elegantly designed and perfectly legal. Every time we print money, we’re not just creating currency—we’re stealing time. Time from the nurse working doubles. Time from the teacher with a pension barely worth the paper it's printed on. Time from the grandmother who spent forty years saving, just to watch it vanish.
And here's the thing about inflation: it doesn't knock on your door with a gun. It doesn't need to. It walks right past your security system, picks the pocket of every person who believed in that American promise—that if you work hard and save your money, you'll have a shot at a better life. The perfect crime isn't the one that takes everything at once. It's the one that takes a little bit every day while telling you it's for your own good.
Want to know the real difference between economics and cruelty? About three layers of bureaucratic paperwork, a Harvard degree, and the audacity to call theft 'monetary policy.' Because when a system preys on those least able to afford it, that's not just bad policy—that's evil wearing a spreadsheet as camouflage.
Then mathematics changed the game.
Enter Bitcoin
Bitcoin is decentralized, it's digital, and it exists outside government control. And to Musk, it's freedom. He even throws "#bitcoin" into his Twitter bio with a wink, tweeting, "In retrospect, it was inevitable." The price of Bitcoin jumps like it's on a SpaceX rocket. Then Musk decides to take Tesla—a company that already makes rocket scientists look lazy—and turn it into one of the largest corporate holders of Bitcoin.
When Satoshi Nakamoto showed up in 2009, he wasn't just solving a computer science problem—he was solving a human trust problem that's as old as civilization itself. Think about it: How do you get millions of strangers to agree on who owns what without putting someone in charge? That's the Byzantine Generals' Problem. For thousands of years, we solved it by appointing kings, governments, banks. Satoshi? He solved it with mathematics. Using digital signatures more secure than any bank vault ever built, Bitcoin lets you own digital property with the same certainty that you own the thoughts in your head.
Here's the real magic: Every ten minutes, tens of millions of computers around the world race to verify every single Bitcoin transaction ever made—from day one. Think about that. A global army of miners, checking and rechecking a ledger of ownership that stretches back to 2009, making it mathematically impossible to fake or change even a single digit. This isn't just bookkeeping; it's digital physics in action. Like Franklin's land-backed currency, Bitcoin's foundation isn't policies or promises; it's mathematical truth.
Franklin's currency was revolutionary because it tied value to something real—American land and the energy poured into it. Bitcoin accomplishes the same feat in the digital age. When you hold Bitcoin, you're not just holding a store of value; you're holding property that's pure, mathematically perfect, and accessible to all.
Freedom Through Financial Innovation For both Franklin and Musk, value isn’t the endgame—it’s a tool for building something bigger. Franklin’s land-based currency helped Americans invest in their own autonomy, creating a foundation for prosperity that outlasted British control. Musk’s support for Bitcoin offers similar promise: a world where wealth isn’t slowly eroded by inflation or centralized control.
Where Franklin’s approach was grounded in Enlightenment ideals, Musk’s is powered by digital-age dynamism. Franklin’s land banks converted local fields into financial freedom; Musk’s Bitcoin is a technological equivalent, transforming digital space into a secure property system. Both men were driven by the belief that freedom—true, sustainable freedom—begins with the right to protect one’s wealth, beyond manipulation or control.
Legacies of Financial Transformation Franklin’s currency supported a young America, laying the economic groundwork for independence. Musk’s Bitcoin play, still in its early stages, may do the same for a global society rethinking the meaning of money in a decentralized world. Franklin’s insight that wealth could be a foundation for freedom set the stage for American prosperity; Musk’s vision for Bitcoin may open similar doors, creating a financial system where people, not institutions, hold the reins.
In the end, Franklin and Musk both understood that the concept of property—whether in soil or in code—is about far more than possession. It’s about protecting human effort and enabling lives of autonomy and dignity. Franklin’s colonial currency system anchored wealth to land and work, turning individual labor into enduring power. Bitcoin extends this principle to a digital, global frontier, where property rights are as incorruptible as mathematics itself.
Franklin started a revolution with paper and ink. We're finishing it with mathematics and electricity. Because revolution doesn't care what century it's in. And this time, it’s not just for one country—it’s for anyone, anywhere, with the vision to see that true prosperity starts with property rights that no power can undermine.
Group Chief Executive Officer M247
1moThe revolution is now 15 years on!!
Fund Manager, Podcaster, Counter Child-Trafficking Charity Founder.
1moThat's an interesting comparison. What do you think it will take to get bitcoin accepted by the wider society?
Because Innovative Leaders cultivated Liberty.
1mo2012, lobby of the W. Friend says, “you should really look into the bitcoin cryptocurrency thing. I’ll give you a few to get started” 🤦 Years later I understood and acted upon the thesis you describe. The article is really well written, but makes me wonder your assessment of Musk’s initiative.
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1moVery insightful.