Our fiat money could never work for long.
The gold monetary system of past did not fail by fundamental design. Central bankers first perverted it with paper notes and leveraged markets. Finally, in 1971, government abandoned it due to their own overspending. The resulting fiat we have today will fail by design, it never had a chance.
Money cannot be baseless and printed into infinity. Having a central authority issue money at will results in corruption, class disparity, and eventual hyperinflation. All of which progresses slowly and inconspicuously at first. The ending though, a total loss of faith and value, happens relatively quickly – startling quickly.
Most people are ignorant about our current financial system…they want to remain blissfully ignorant! Public education provided us with this mentality. Most were never taught a bit about how our financial system really works. As a result, most understand it to be unimportant and unnecessary. Sadly, money shouldn’t seem so complicated that no one wants to try understanding it.
The last thing anyone wants to believe is that money was designed with selfish intent by bankers to enrich themselves while enslaving everyone else. The best way to feel ultra-rich? : Destroy the middle class – make everyone else dirt poor.
Wealth may have been passed down, but instead, was destroyed by inflation. The value of our money destroyed while they printed themselves ever more as needed! Everyone should feel rich with everything we have today. Alas, we are far from that feeling – thanks to central bankers.
Everyone needs to come to terms with the facts and cast away lies meant to emotionally attach us to dollars. They have brainwashed us into thinking that without dollars the world will spiral out of control. Not true! It would be a bumpy ride, but soon after, with sound money, it will become beautiful. People will feel peaceful and happy. None of us can even imagine the greatness anymore.
Money plays an exceptional role in human happiness. Don’t be fooled by propaganda saying otherwise. You don’t need a overabundance, but just enough to meet your basic needs. Sound money will allow us to meet basic needs with exceptional ease when compared to today.
Government needs to exist. Anarchy will not sustain.
Government needing to exist is beyond the scope here. If we can agree that it does, then a foremost necessity to collect taxes is clear. Money needs to act to serve the people and government. Government and people are theoretically one in the same.
But banks are the main beneficiary of our monetary system. They are the beneficiary because they control issuance of money. Banks put themselves ahead the ordinary citizens every time.
Let’s not forget that central banks are to blame for monetary woes more so than government. Central banks have made themselves out as a proxy between government and citizens. They allow governments to borrow anything they want via unlimited printing, while citizens ultimately lose out. This is a necessary evil for the central banks, because without the governments blessing, they would stop existing. In turn, governments can overspend and in the end, place blame on the central banks and not themselves. It’s an over-complicated system meant obscure the truth and steal from the ordinary citizens.
While unlimited printing of fiat easily allows government to grow and work inefficiently, sound money will rein it in. Sound money will cut the size and scope of government remarkably.
We need government for order. Unfortunate that some governments are corrupt. A corrupted currency (as we have) begets a corrupt government in many cases. Sound money can squelch many problems right away.
A demonized one-world currency by central bankers.
Suggesting that a one-world currency results in evil globalization is a psy-op. This propaganda, brought on by central bankers, leads people to believe each country needs their own ‘unique’ money. They push the narrative because they know exactly what gold is: a one-world currency. Gold is the nemesis to fiat. Bankers will print on every last piece of paper to suppress gold in every way imaginable – foremost for altering our perception of it though media and memes.
We must rationalize for ourselves: how is a standard unit of exchange across the globe a bad thing? It’s not bad!
Further, any other system, such as we have now, is ripe for manipulation and conflict. Our complex monetary schemes allows bankers control over all of us, sowing contempt for each other. Our fractured system keeps us at odds on unfair, unfamiliar and unstable money.
The world agreeing on and accepting a single unit of exchange is not evil, contrary, it will make everything simple, fair and transparent. Having a common backing alleviates many disputes and unfair advantages or weaknesses some countries may have. Each country can still control the intricacies of money like taxes, interest rates, etc.
The world has changed in the last 100 years.
People trusted government much more in recent past. Government got away with a lot of things they shouldn’t have back then. Mainly, the central bank installation, relinquishing control over our money. Bankers infiltrated politics and established a system they could use to take control of our economic lifeblood – money. They enforced the fiat scam though war and propaganda. Anyone not conforming to the banker fiat risked permanently losing all their gold if they tried using it in fair trade.
Bad money drove out good money. That means people would rather use the bad stuff as long as it works, and keep the best aside. Once fiat was (forcibly) accepted in trade, gold quickly got stashed away, not used as money. Soon though, reality will settle when bad money lives up to its name.
America is no longer the only practical innovator and producer of goods. Our economies are more reliant on global trade than ever. The leverage and necessity of using dollars is fading. Others are coming up with alternatives to the suppression. However, dethroning the dollar will need a different system of money. Another fiat will not replace it. Gold will. A fair and distributed unit of exchange that others recognize as having eternal value.
Problems with transferring gold in the past.
Many are lead to believe that the physical transaction of gold is ridiculous, which is just more misleading propaganda gobbled up by those whom can’t think for themselves. They don’t realize how gold could easily be less burdensome than the paper we use today!
As of this writing the price of gold is $1,233/oz or ~$40/g. A 10 cent dime weighs 2.27 grams and would be worth $90, if made of gold.
A $100 bill weighs 1 g, making an equal value of gold 2-1/2 times heavier.
But now, imagine, it’s easy if you try, if gold were money…it would likely be worth at least 10 times more than today. That gold dime would be worth $900! Gold would weigh 4 times less than hundred-dollar bills! Much less burdensome in such case!
Thin strips of real gold could be placed between paper and used as money that cannot be over-printed.
Old means of digital transfer won’t work. There is no transparency or accountability. Gold could be issued ad infinitum on traditional banking networks and no one would be the wiser for some time.
There’s a better solution today…
A gold-backed blockchain eliminates potential for most problems.
Gold vaulted by government and issued as a digital blockchain currency. They wouldn’t even need to allow the physical redemption of their gold! The gold simply stands as a representation of value for each issued cryptocoin. A unit of accountability and fairness. The total coin supply would always equal the total value of their vaulted gold.
No one can dispute the value of each coin as long as the physical gold reserves are proven. We know how much gold they have and how many cryptocoins exist. Transactions are transparent and the amount of cryptocurrency issued certainly can not be disputed.
There are many possible methods of using blockchain for money, explaining every option would fill a book. One might issue a strictly finite amount of tokens representing their gold, meaning as they collect more gold, the value of each token goes up. Or, they could allow themselves to issue more tokens as they need, creating an inflationary system similar to what we use today.
Sure the former, inflationary system could turn bad, but still, their unit of exchange would be based on gold, the same as the rest of the world. Issuing too many cryptocoins would be self-defeating because people would stop using the digital version wherever possible. Citizens would opt for saving in and using the physical version, which their government cannot debase. Without an honest and fair government, their economy would slow as their digital gold isn’t circulated so much.
Gold represented on blockchain means easy, fast and transparent transactions, better than it is today. Gold would lend universal value to individual cryptocurrencies. Each cryptocoin can be tailored to the specific needs of each country. Every transaction could have a variable tax added then directly deposited into a treasury account. Private and competitive blockchain miners could receive a tiny award for solving each block.
As for us spending, we could spend on a debit card just like dollars today. We wouldn’t even notice a difference in that regard. Anyone skeptical could keep real gold in their home or in a bank with insurance. No need to depend on government to hold your life savings if you don’t want. One could deposit small amounts into a bank to pay bills, or remove excess from the bank for safe storage at home.
A lot of old-time gold-bugs scoff at this digital method. They are only hindering their own investment. They should embrace the digital transfer of gold for accounting, as it is necessary in today’s world. Do they realize many things they depend on everyday requires a quick transfer of money across distance? Do they expect to ship gold coins across the country to pay for everything they buy? If they don’t embrace the digital transaction of gold, their beloved gold will never function as money.
Almost everyone is accepting of digital transfer of paper dollars! Anyone using banks, debit cards, checks, etc is using digitally transferred money. Everyone practically has to! Everyone should to push for digital gold-money. The ability to transfer it digitally – blockchain – the only transparent method! A simple digital method of transacting ownership for economic reasons.
Problems with bitcoin or any other un-backed / decentralized crypto as currency.
Technically bitcoin has intermediaries too, the miners, with an ability to alter the core code by consensus.
A single world-coin wouldn’t work just right for everyone, governments wouldn’t be able to collect tax easily or tune it to their countries specific needs. It would be too prone for abuse by more powerful and aggressive countries.
Government has little control of bitcoin. Government needs to collect taxes in an efficient way. Using bitcoin, there is no easy and consistent ability to do so. Less than honest people can hide money and transact in secret. Bitcoin is quasi anonymous, anyone keen enough can transact anonymously when desired.
Using bitcoin or similar cryptocurrencies would be worse than what we have now, fraud and theft would run rampant. It’s not so clear now, because so few hold bitcoin. Scammers and hackers don’t know exactly who to target. Imagine if everyone had bitcoin on their computer; everyone would be a target, all the time. It would be too easy for scammers.
Governments or banks can not effectively insure a totally decentralized cryptocurrency. They have little no chance to catch a thief and no opportunity to freeze accounts under suspicion of fraud or reverse transactions under court order. No one is going to watch your bitcoin and pause a million dollar transaction from your account. Each person is totally responsible for their digital money. This is not good, despite what you hear. Most people, especially the older, need a strong layer of protection. Imagine losing your whole life savings to a digital scam or malware. People as a whole cannot be expected to guard a digital life savings all themselves!
We need blockchain, one administered and protected by government. reversible transactions and freezing of accounts is not as bad as it’s made out. In some instances it is practically life-saving for honest people. It will deter and catch bad people, then make them pay rightfully. Deadbeats won’t easily skip child support, or anything else alike.
Without a centrally controlled money system, the rule of law goes out the window. Bad people, while protected by total anonymity, make an easy living preying on everyone else.
Independent government issued un-backed crypto wont work.
If governments invent their own un-backed crypto similar to bitcoin, there’s a problem. The same problem we face today. In the face of failure, there’s no shared value backing! Other countries could team up against another and somehow dispute or reject a baseless currency, sending the abstract money into intrinsic valueless. There will be nothing real to back value, no agreement among many, just a small niche trying to uphold arbitrary value. Money must have an equal base among all, be distributed world-wide, with an undisputed value from one to the next. That is a global gold standard transacted on blockchain.
Buy gold, yay!
1,080 total views, 202 views today