Though out history when the money was defaced it has lost value and fallen into ruin and the issuing nations with them. Every fiat currency in the history of man has, as Voltaire stated, "All fiat currency returns to its intrinsic value, zero." Notice how Bitcoin has not returned to zero, yet its volatile swings indicates it is not a stable currency. However, that could change once all of the Bitcoin has been issued and there are no more. Perhaps then the volatile nature of Bitcoin will change. I am not against Bitcoin, I own a small amount and a few other crypto. I don't trade, or sell I simply hold onto to the products. Having been a record collector for years and over time selling vinyl I learned to hold onto to records rather than sell them for a quick buck. Bitcoin to me is more of a hedge against the Federal Reserve Note, That is my main reason for owning something other that dollars created into existence without any value standing behind it. People argue about Bitcoin value. I can't be bothered, I find that if I can't hold it in my hand and will not invest large amounts but am happy to own small amounts simply because governments seem to hate Bitcoin even when it is described by the SEC as a product.
I think most people who have little or no exposure to crypto will be happy to accept the push button CBDC currency. Modern Monetary Theory thinks of debt as a asset which is why student loan debt is the largest asset on the books of the US Government. Imagine students in debt is a asset. Um, that does not sound quite right to me. Many people think of their houses as asset but if you do not plan to sell it is not a asset it is a debt, Up keep, insurance, taxes, oh, the value goes up due to the decline in the value of the US Dollar but if the house was not improved how could the value go up? Via a weakening dollar.
This is not theory, that is fact. The Federal Reserve Notes (Corporation Currency) is nothing but debt. We work for debt, we buy goods with debt, we pay bills with debt. The entire system of a debt currency system is UPSIDE DOWN. Now the great push for ultimate fiat currency. CBDC. Digital Debt. Jefferson described fiat paper currency as the "ghost of money."
CBDC is a insult to the very idea of a free society. I will give you nothing and you will give me products. You have got to be kidding. People are saying its just another transfer mechanism. Really, you do not see a fraud. Worthless digits on a computer LEDGER have value. What value do the digital digits have? More debt? Think of a gold coin in your hand you paid for it. There is NO DEBT attached to it. Yet, your dollar in your pocket is a debt, I.O.U. Note.
That does not work for me. Even as little Bitcoin I have, I know it took energy to create the Bitcoin. Just as it takes energy to dig up gold and silver, and copper, and zinc and platinum and they have value for the work to extract them. What work is done by the BIS (Bank of International Settlements) or the IMF (International Monetary Fund) or the Central Banks to create money. They create a contract of debt and declare it will pay interest and that is sole basis of the work involved to create currency. No mining, no physical labor, just poof here is a piece of paper we declare is money. Yet over the last 110 years the US Dollar or Federal Reserve Note has lot 98% of it value. You US Dollar is worth exactly $0.02 each. That is not retaining wealth it is losing wealth.
So I bought a small amount of Bitcoin five years ago and it has tripled in value and lost triple its value and regained its value. The Federal Reserve Notes Continue to loose value year after year and never regaining any of the lost value.
Gold and silver, copper and zinc, continue to retain their value and climb in value.
CBDC is the ULTIMATE PONZI Scheme. Currency that only exist on a digital ledger, currency that expires, currency that is programmable so that what your are allowed to buy can be controlled and there is NO privacy. Every cent spent will be tracked and taxed. That does not work for me.
