“In every revolution, there are winners and losers. Every dystopia is a utopia for somebody else. It just depends where you are. Are you in the class that benefits, or are you in the class that's not?” – Ken Liu I’ve been thinking a lot about the Federal Reserve lately. After
Great little read! I strongly suggest reading Eric Townsend book on this very topic, Beyond Blockchain: The death of the Dollar and the rise of Digital Currency.
with or without Powell, any country not looking into CBDC's is reckless and will cede monetary power to those that do, to private corporations doing stablecoins, or I guess possibly crypto if they're morons like El Salvador's president. The threat to sovereignty and most of the monetary tools is too great to ignore (tether/usdc/libra/diem/etc)--- so much so that even the decade-behind-the-curve supranational groups are pushing them towards it. https://www.reuters.com/business/act-fast-or-miss-digital-payments-boat-bis-tells-central-banks-2021-09-10/
Fed coin would be a stable coin, backed by the dollar, not a new currency per se.
Absent legislative authority, as with PPP loans (or an amendment to FRA), Fed could not just deposit currency (Fed coin or otherwise) into private bank accounts.
You're absolutely right, every utopia is also somebody else's dystopia. Massive wealth inequality, free flowing misinformation at all hours of the day across social media monopolies controlled by private enterprise, hundreds of thousands of dead and dying slowly crushing a medical system past the point of collapse, from the sheer weight of their misinformation ridden minds. That to some might be a dystopia already. But why speak of the mysery of the now, when slippery slope hypotheticals can send us comfortably to bed, on the thought that any amount of government oversight could always make things worse?
Americans obsessed with freedom of speech tend to ignore the fact that absolute free speech is impossible, as the very existence of speech, by its tone, its volume, and its prevalence, will censor other forms of dissenting speech. That is simply the nature of how information dissemination works. People cannot pay equal attention to everything at once, and by simply speaking persuasively and repeatedly about anything at all, you are diminishing the time, energy, and inclination of audiences to go expose themselves to other speakers.
So at the end of the day, someone must police speech for the public good, or those who do not hold the public good in mind will police it for you. You don't ever get to be free of the structure of censorship. All you can do is pick what kind of censorship you'd want. In fact, the only reason you get to speak freely here and now is because people who hold power over what can and cannot be said are able to regulate this space, and make sure you're not drowned out by a million shills botposting how ivermectin will set you free.
So, who would you prefer to have the power to make certain speakers unpersons? Our Google overlords may be far from ideal, but we already live in a world where the alternative is letting the horse dewormer obsessed hate mobs who would endlessly hound immunologists into silence hold that very same power. And that too, I would say, is a dystopia.
For all of your elite-sanctioned purchases, there will be Fedcoin. For everything else, there is Pirate Chain(or whatever else the next great privacy coin may be.)
The end game of just about everything we’ve experienced in the last 18 months is CBDC dystopia. In this reality, we are all just obedient QR codes paid an allowance with strict rules on what and when that allowance can be deployed.
Digital ID first, Cash ban (next REAL pandemic) after, FEDCOIN = Mark of the Beast 666
Great little read! I strongly suggest reading Eric Townsend book on this very topic, Beyond Blockchain: The death of the Dollar and the rise of Digital Currency.
There's zero doubt in my mind that a panopticoin is coming: https://jaredabrock.substack.com/p/panopticoin
Everything Charles Lindbergh Sr. said about the FED has come true. The man was way ahead of his time.
with or without Powell, any country not looking into CBDC's is reckless and will cede monetary power to those that do, to private corporations doing stablecoins, or I guess possibly crypto if they're morons like El Salvador's president. The threat to sovereignty and most of the monetary tools is too great to ignore (tether/usdc/libra/diem/etc)--- so much so that even the decade-behind-the-curve supranational groups are pushing them towards it. https://www.reuters.com/business/act-fast-or-miss-digital-payments-boat-bis-tells-central-banks-2021-09-10/
Fed coin would be a stable coin, backed by the dollar, not a new currency per se.
Absent legislative authority, as with PPP loans (or an amendment to FRA), Fed could not just deposit currency (Fed coin or otherwise) into private bank accounts.
You're absolutely right, every utopia is also somebody else's dystopia. Massive wealth inequality, free flowing misinformation at all hours of the day across social media monopolies controlled by private enterprise, hundreds of thousands of dead and dying slowly crushing a medical system past the point of collapse, from the sheer weight of their misinformation ridden minds. That to some might be a dystopia already. But why speak of the mysery of the now, when slippery slope hypotheticals can send us comfortably to bed, on the thought that any amount of government oversight could always make things worse?
Americans obsessed with freedom of speech tend to ignore the fact that absolute free speech is impossible, as the very existence of speech, by its tone, its volume, and its prevalence, will censor other forms of dissenting speech. That is simply the nature of how information dissemination works. People cannot pay equal attention to everything at once, and by simply speaking persuasively and repeatedly about anything at all, you are diminishing the time, energy, and inclination of audiences to go expose themselves to other speakers.
So at the end of the day, someone must police speech for the public good, or those who do not hold the public good in mind will police it for you. You don't ever get to be free of the structure of censorship. All you can do is pick what kind of censorship you'd want. In fact, the only reason you get to speak freely here and now is because people who hold power over what can and cannot be said are able to regulate this space, and make sure you're not drowned out by a million shills botposting how ivermectin will set you free.
So, who would you prefer to have the power to make certain speakers unpersons? Our Google overlords may be far from ideal, but we already live in a world where the alternative is letting the horse dewormer obsessed hate mobs who would endlessly hound immunologists into silence hold that very same power. And that too, I would say, is a dystopia.
If shovel comes to push, then you can just pay me in SIlver Coins, and fuck off the NWO.
Workers of the world unite; you have nothing to lose but your Coins.
For all of your elite-sanctioned purchases, there will be Fedcoin. For everything else, there is Pirate Chain(or whatever else the next great privacy coin may be.)
Just ordered a couple My Pillows to help me through the dark times ahead.
First one not a typo, second one is. Good catch and thanks for reading!
Funny typo: "demonetization" Or was it an intended +/- pun ?
Also: "the path from them to you much is shorter than you can fathom." ?
The end game of just about everything we’ve experienced in the last 18 months is CBDC dystopia. In this reality, we are all just obedient QR codes paid an allowance with strict rules on what and when that allowance can be deployed.
I wonder what a digital bank run would look like.