This article based on an upcoming book by Wendy McElroy reveals interesting connections between the history of government coinage and the attempts by governments worldwide who now want to regulate crypto transactions and currencies.
Fortunately, the world is no longer living in the “dark ages” of accepting government reports or their laws as absolutes. Modern-day institutions have squandered their opportunities to regulate and control “money”. In essence, governments along with their central banks and out of control taxing authorities have created a huge vacuum when it comes to the meaning and value of money. With most of the world suffering from significant inflation and insurmountable public debt against their fiat currencies…it should be no surprise that in this technology age “the masses” are quickly finding their ways around tyrannical controls of economies the world over.
While this article correctly offers a solid high-level comparison of USA monetary laws against the reasoning/rationale for today’s cryptocurrencies…to us there are some significant differences in the crypto phenomenon that have no comparison to the past and effectively puts governments (and their banks) out of the money control business in the near future. Based on this very real disruption in the meaning and control of “money”, it is understandable why the pundits of big government and banks would attempt to discredit the users of these currencies as “unlawful”, pyramid schemes, or the main tool for criminals the world over.
First, let’s understand that CASH, primarily the US dollar, is still the number one currency used by criminal enterprises…both inside and outside government corridors of power. This is the main reason you now see many governments eliminating large value bills in order to make transport of value more cumbersome for those doing “cash only” transactions. For obvious reasons, they want all high volume transactions going through their banks and via their controlled networks of ACH, SWIFT, etc.. Yet, the reality is that in most countries of the world, the informal “black markets” that run on “cash” makeup as much as half of the true total economy. If governments cannot control cash, how can they think they will control digital currencies?
Since a majority of the masses (and the wealthy) still count on local fiat currencies for “savings” or financial transactions, the governments, for now, can continue counting on those masses to support their dishonest and tyrannous controls on our money systems. Governments have programmed the masses to “trust them” with the holding of the people’s funds for “safety” purposes. Unfortunately, what this has led to is baseless faith on a system run by bank elites…who control most governments of the western world. To keep the masses content (or hoodwinked), these governments continue creating bigger and bigger social welfare systems. These social welfare systems have basically destroyed free enterprise and small businesses in the world by exorbitant taxation to support these government redistribution programs.
Governments continue to control people and economies based on tightly controlled licensing of third-party banks and investment companies who enable the government to distribute meaningless fiat cash to the masses they have made promises to in exchange for their votes. Of course, the graft and corruption behind the government’s financial statements are beyond belief. How do you explain a country like the USA with $20+ Trillion in national debt being able to continue borrowing from foreign powers (like China)…basically putting all future debt pressures on the governed taxpayers who don’t even exist yet? As long as welfare and social security checks keep rolling, a majority of Americans will continue living in the “la la land” of false financial security.
This is the age of the individual. You have civil unrest all around the world…from the Arab spring to the Bolivarian revolutions in South America…that underscores the discontent and lack of trust every day people now have in their governments. More people are moving or expatriating to find freedom from the various tyrannies they came from than ever before. More RICH people are moving their money from domestic controls to diversify in various countries and businesses around the world. Globalism is here to stay, and it will not tolerate for long the machinations of empirical financial powers, even the size of the USA.
Based on our national debt and the relative poverty of average Americans who believe more in credit than in cash, the world is getting ready for a wakeup call. We should say, SOME people in the world are getting ready. Those who are prepared tend to be highly educated, technically advanced young people from all around the world who are quickly learning to live globally, invest globally, and protect their privacy and individual sovereignty. These people are often multi-lingual and multi-cultural. They have learned to live outside the systems of traditions that no longer apply to them…and they do not plan to be overrun by the masses or their institutional masters for the sake of the false bravado of nationalism. “We are the world…”
Governments cannot long govern without the consent of the governed. As our current monetary and regulatory systems collapse based on impossible accounting tricks that are running dry, you will see a collapse of traditional financial systems in the very near future. When that happens, the governments behind those systems will fail as well. Those who have prepared based on their learned experiences will survive intact. A majority of the world will be “starting over” under a whole new global reality. It is our hope and belief that while chaotic for a couple decades, in the long run, replacing the failed institutions of government will be refreshing. When political forces can no longer control votes, currencies, or medias…that is when individuals of our world can rise again. That is when we will see true free markets restored. That is when EVERYONE will have an equal opportunity to move, learn, and benefit from REAL exchanges of value on a global basis versus the false confidence in domestic government bank controls.
It is our hope and belief that, while chaotic for a couple decades, in the long run replacing the current failing institutions of governments and banks will be refreshing. When political forces are eliminated from the marketplace…that is when strong individuals of our world can rise again to lead. That is when we will see true free markets restored. That is when EVERYONE will have an equal opportunity to move, learn, and benefit from REAL exchanges of value on a global basis.
The failure of the money system will be the catalyst for the new world that is coming. No doubt there will be ugly revolutions against the powers that be before the new world can exist. We believe the current crypto money revolution will unleash this global change very quickly. To that end, unless we the people allow them to, these current governments and big banks will be powerless to support their false economic systems or combat the realities of the digital economy. Truth will eventually win out…and we welcome it while knowing that huge prices will be paid for the change. Hopefully, we won’t be the ones left holding the bag of false promises and empty government bank coffers.