1933: the Great Depression devastated the global economy. Citizens sought monetary stability, so they protected their wealth by holding precious metals, rather than depositing their bullion into the banks. Many nations failed to uphold their gold-standard currencies in this period, because the banks did not have enough gold in their vaults to meet their reserve requirements. The US commercial banks and Federal Reserve were no exception. It was this year that the US ended their domestic gold standard transactions.
Less than 40 years later, they continued this disastrous experiment, by ending the international gold convertibility of the dollar in 1971. Forgoing, the dollar had no ties to any laws of scarcity; it became printable on demand. Instead, citizen debt, momentum of cash flow, and the military-backed petro dollar became the new key mechanisms by which the US established its fiat currency as the new global standard metric of value.
On the cusp of The Great Reset, these days are coming to an end, but what will take its place? Will we obediently switch over to the dominating fiat currency of the next global superpower, and damn our grandchildren to the very same disaster we are about to experience? Will we acquiesce to a new central bank digital currency system, and place god-like dominion over our lives in the hands of a new cast of technological tyrants? Or is there a better way?
Solutions
Though many will desperately try, there is no saving the current economic structures, and in the long run there is no point. What´s more, if we allow governments, the Federal Reserve, banking institutions, UN, WEF, and the WHO to continue making decisions for us, we will soon find ourselves living in a slave colony. Perhaps, we already are. Solutions must be practical, and effective bottom up, not top down. Essentially, the stragety is to strike, and use fair economic systems which work better.
Keep it cash: merits and shortcomings
Paying for everything in physical cash, and boycotting companies which go cashless, will slow down the surveillance state´s implementation of CBDCs. Keeping our spending habits anonymous, and making it burdensome for companies to abandon cash payments, throws a monkey wrench into the plans of our would-be slave masters, but isolated from combined tactics this is a pointless strategy.
Think of it like applying tape to a crack in a fish bowl to slow the draining water. This is an excellent first move, so long as there is a plan to get the fish out, and a fresh tank to move them into.
Rethinking our value metrics
Using fiat as our metric of value is a critical PSYOP we must demystify. At best, fiat inflates at 2% a year, but we´re now undergoing hyperinflation of at least 8%. This is only the beginning. Fiat-denominated value of commodities have increased far more in the last 5 years, and we have all complained about how expensive food has become. Going forward, if we use fiat as our universal metric of value, we will spend the next years endlessly repricing our products – until kindling becomes a more efficient use-case for fiat bank notes.
Bitcoin is deflationary, and is 14 years into a 100+ year process of stabilization. Within decades, Bitcoin will be so stable, that its use as a mathematical metric of value will be popularized. However, this will take more time, and though already popular among Remnants, I do not believe the whole world is ready for this solution. First, the destructive fiat associative ideology must be dissolved. 1BTC = 1BTC.
For now I propose that we use gold as our metric of value, even if we use other payment processing methods. For instance, a woo-commerce store, which displays its prices in gold ounces, but processes payments with Bitcoin via BTCPay Server would align with this solution. Using grams instead of ounces may be a superior metric, because smaller amounts can be displayed with greater ease, but ounces is already a popular metric for bullion.
(February 8th 2023)
Here is a thought to flip things right-side up:
1 USD = 0.000533 AUX oz
Custodianship: Taking Responsibility
Delegating custodianship of our finances to third parties is the root of our problems. These parasitic organizations use the headroom of their monopoly to take everything within their reach. Our funds are not safe with them, and can be frozen by demand of the government.
Whether we store our wealth in cash, gold, silver, infrastructure, solar electricity, tractors, canned tuna, or Bitcoin held in proper self-custody, we can access our saving without permission – that´s ownership! This last point is simple. In whichever form you choose, be the custodian of your own fortune.
Conclusion
Money is the blood of society. If the money is bad, the society will be systemically sick. It is our time to choose the future of our species, by choosing how we transact. The actions of individuals are the seeds of the collective harvest. Nobody else is coming to save us; we are the ones we´ve been waiting for.
2 Responses
We agree. Have to come to the same conclusion.
Digital is the most practical. Good solution. Value determined by gold but paid w crypto.
Agreed. When the dollar stopped being tied to the gold standard and the gov started printing tons of bailout money, that put us in the predicament we are in now. Bring on the Bitcoin and other cryptocurrencies. Also agreed that Bitcoin is too volatile for mass adoption right now.