CBDC’s threat to freedom
When we talk about Central Bank Digital Currencies what we are really talking about is the most aggressive maneuver ever implemented across the globe to enforce central planning and thwart the “dangers” of the free economy. By implementing a highly centralized currency into the current inflationary economic systems of the world we are effectively allowing for individualized monetary policies and highly controlled economic tuning. When a Central Bank artificially manipulates interest rates and creates massive bubbles and wealth gaps driven by cheap credit, they conceal the true damage that was done by their own central planning and instead blame market participants and markets themselves for a currency demise. The truth is manipulation of interest rates, buying government debt, coordinating economic stimulus, and setting bank reserve requirements are all pieces of the same puzzle, that puzzle is central planning. Central planning is a core element of all tyrannical governments and inevitably ends in disaster proportional to the degree in which it is used. Whether it be the extreme examples of Stalin’s reckless delusions causing the Holodomor killing around four million to starvation because of a dictator’s demand to replace Ukraine’s small farms with state-run collectives or Mao Zedong’s similar inclination to collectivize farms and industrialization policies ultimately being responsible for some 45 million deaths, history is an autonomous vehicle which loses control when we touch the wheel.
It is in this frame of mind that we may dispel with the absurd notion present top us by the marionettes at the top who preach that the road to a better future is paved not by the ebbs and flow of a reality that is beyond our control but rather by a highly centralized and top down control structure which seeks to maximize the span of its control tentacles to all sectors of human life in order to provide us with a safe and prosperous future. It is in the tendency of humans to seek safety in times of great incertitude, and in times of great turbulence those who seek control and promise comfort draw in the crowds in droves. The reckless central banking policies imposed upon the United States and elsewhere (As all central banks core problem is exposed in the name) has led to an impending disaster, with deficit spending becoming to absurd to continue and inflation rising precipitously the United States Government and the Federal Reserve now face a situation in which they either drastically devalue their own currency in order to shrink Government debt obligations or they continue to raise interest rates and risk major financial breaks and overwhelming Government debt-service costs or they seek novel new ways to impose state control in all sectors of economic activity and radically alter the currency system domestically. With the Fed’s Jerome Powell Saying recently, “In light of the tremendous growth in crypto-assets and stablecoins, the Federal Reserve is examining whether a U.S. central bank digital currency (CBDC) would improve on an already safe and efficient domestic payments system. A U.S. CBDC could also potentially help maintain the dollar’s international standing,”. It is clearer than ever that the status of the dollar as a global reserve currency is in flux and attempts at massive economic intervention are underway using a highly centralized digital currency.
It is time we ask whether the mistakes of the past can continue to take precedence over the future, the stakes are becoming higher and the time is perhaps overdue to take back what man has tried to suppress. Stay safe, stay calm and stay reasonable, thank you.