From where I sit, people aren’t stupid. They may make dumb decisions but these [are] maximized thanks to the misaligned incentives of a corrupt monetary system. Absent consequences for dumb decisions, people will continue to make them until they can’t. And yet our feudal overlords [think] there is no limit to this.
Apparently the Chinese are considering a digital yuan with the lovely control possibilities inherent with that. As for misaligned incentives, it is possible for digital currency (without an ancillary physical component) to come with or have added in an expiration date SHMG to ensure that people will spend their “money” and keep money velocity high and stimulus stimming. Real hamster in a wheel incentives.
Compare and contrast with the U.S. approach which is to penalize saving with rock bottom interest rates and thereby force savers into risk on equities, hard assets, and all manner of misinvested fluff with a giant helping of inflation thanks to criminal congressional and Fed fiscal and monetary wrecking ball initiatives.
There’s no Chinese digital yuan expiration date as of breakfast this morning (or digital yuan that I know of for that matter) but there’s a boatload of monetary debasement going on in the U.S. The actual destruction of the very definition of money as, in part, a store of value has been decided upon by our New Aristrocrats who occupy the Olympian heights of knowing how to manage our lives. MMT, bitchez.
Mr. Luongo points out in his article that where money is concerned “betraying the trust of the people you govern at such a fundamental level is a breach that creates real, lasting change.” And more and more coercion is necessary to keep people down on the farm of acquiescence. In the debased moral and intellectual climate in which we subsist at the moment absolutely no one has the faintest clue how the forthcoming massive political upheaval is going to play out. The Norman Rockwell option is probably not in the minds of a whole lot of people and people who don’t know whether the moon is larger than the sun aren’t likely to be coming up with elegant political solutions of any kind. Just saying. As the Chinese expression goes, it’s easy to mount a tiger but somewhat more difficult to dismount. Or, more precisely, dismount and remain intact.
The unspeakable tragedy of the West is that its ruling elites came to pursue their own financial interests AND idiot social ideas rather than to govern with the interests of the people as their first priority. Now they have created a ticking time bomb of fury in the hearts of the deplorables. “Too clever by half” doesn’t begin to describe the damage they have caused. (Cue Hillary cackle.)
For decades the United States government has poured trillions of dollars into stupid wars to vindicate NO interest of the nation. It has poured trillions of dollars into creating and maintaining a dependent class that is a stellar source of crime and political and social pathology. The United States of Baltimore. When millions of Americans have been out of work or worked at two jobs or in nothingburger jobs with no future, it has assiduously labored to import millions of foreigners to steal jobs, start competing business, send billions in remittances to their home (sic) countries, distort our elections, bankrupt hospitals, populate our prisons, and otherwise become a welfare-consuming class of their own. The government has crippled industrial America, it has celebrated massive election theft, and transformed freedom of speech into a privilege revocable at the whim of anonymous soy boys and feminist freaks at war with nature itself. As I like to say, EVERY decision the government makes is precisely the WRONG decision. Days of Our Lives.
So this started out as an examination of the danger of fiddling with one basic measure of human life — the value of the money people have in their pocket. But, as with money, so with everything else. It’s as though an entire civilization chose to disregard any and all standards or turn every measuring stick into something made out of rubber but which shrinks when the temperature rises or the winds blow.
The aristocracy may have been slightly out of touch in 18th-century France but they were giants of insight in comparison to American “progressives” and race baiters.
Somewhere out there is a reasonable facsimile of Joan of Arc. I hate to hang my hopes on divine intervention but increasingly that looks like our remaining option. The women seem to have the greater insight and spirit these days according to my shallow perception. So my bet’s on the likes of Marjorie Taylor Green, Ann Coulter, Laura Loomer, Katie Hopkins, Whatsherface, Tulsi Gabbard, Kimberly Klacik, Candace Owens, Marine Le Pen, Melissa Carone, or Bronx Tina. Hand salute to some of the guys as well but the women really seem to stand out.
 “Luongo: The Digital Yuan, Proof Of Guns, & The Expiration Of Money.” By Tom Luongo, ZeroHedge, 4/16/21.