What Is Money?
Most people take money for granted because they use it daily, but what is money? Fewer people even contemplate what money is and what is required to constitute good money.
Is money merely the dollar bills in your hand that you occasionally hold? Is it the digits in your bank account? Is it your monthly paycheck that you receive from your employer?
Store Of Energy And Value
Money is simply a tool of exchange of storing, exchanging and transacting value.
Money is a claim upon your time, energy, productivity, and value in the marketplace. Money is a form of stored energy or life.
Currency Form Has Changed Throughout History
There is no reason why currency must come from a central bank, like the Federal Reserve, or government dictate or fiat. Hence, the term fiat money. Money, more accurately called currency, has taken many different forms over human history.
In the past, people transacted using glass beads, cattle, chickens, stones, seashells, precious metals (silver and gold), and other commodities. Currency can be whatever is valued at that time.
Gold As Money
Gold has been the most long-lasting form of money in human history. It was no accident that gold became money. Gold did not become money because of a government decree from politicians. Gold became money because individuals throughout history subjectively arrived at the same conclusion that gold is money.
Gold has sound money qualities: durable, consistent, convenient, scarce, and is the “hardest” of all physical commodities.
Bitcoin Is Not Fiat Money
Bitcoin is a form of currency that people have chosen to adopt. That makes Bitcoin a free-market form of money. More than 180,000,000 people use Bitcoin as a currency in the world.
Similar to gold, Bitcoin does not have counterparty risk. It can not be inflated away like a fiat currency.
Intrinsic Value Is A Myth
Value is subjective. Individuals in society determine what does and does not have value. Intrinsic or inherent value is a myth. Individuals subjectively decide what provides value to them.
This value of subjective value applies to everything in the marketplace, from goods and services to the creator economy.
Value is subjective. It is dependent upon the individual.
Currency Crossroads
Central Bank Digital Currency (CBDC)
Individuals in society are entering a currency crossroads where it is up to them whether or not they want to accept a new government system that will have more control or adopt a new currency chosen by the people. The system seeks to introduce a Central Bank Digital Currency (CBDC). A CBDC will take away the remaining privacy that individuals have that the state already violates privacy with recorded NSA, CIA, and FBI Internet privacy violations through PRISM, which showed the agencies worked with social media companies, corporations tracking and listening to your conversation, and retailers who track you with artificial intelligence. A CBDC will introduce a Chinese-style social credit system to the American people.
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Central banks are a scam. In brief, central banks are a Ponzi scheme because the same microeconomic rules don’t apply to them on a macroeconomic scale and the Federal Reserve influences the financial markets. This is called the Cantillion Effect. The Federal Reserve debases the currency, which creates inflation. Central banks then charge interest on the debt. Debase the currency. Debase society.
You will be tracked, traced, and not allowed to make certain purchases if you speak out against the state or hold views that are not perceived as the current societal values. You can immediately be cut off from your bank account and lose access to your funds if you hold wrong views that are not politically correct and against the mainstream narrative.
Cryptocurrencies Are A Solution
Bitcoin and other cryptocurrencies that are not shit coins provide an alternative to a CBDC. Bitcoin is an updated form of gold for the twenty-first century. It is easier to transact. Bitcoin is mobile. It can easily cross borders. The people have chosen it as a new currency form. Individuals freely decided to adopt Bitcoin as a form of exchange. Individuals said that Bitcoin has value. It was not determined by a central authority that declared Bitcoin as legal tender. People freely made the decision.
Central Planners are attempting to hijack the problem that cryptocurrencies solve: getting rid of the banks and third parties (as long as you hold it in your hard wallet).
Barter As A Solution
Some areas could also go back to bartering and exchanging goods. That would likely happen more in rural areas less reliant upon infrastructure to operate smoothly, like in cities. People in these areas could barter services, precious metals, eggs, food, and whatever else may be needed if something happens to the dollar as we know it. It will also allow them to live outside the CBDC system if they do not want to participate.
Become a secure single.