The Ukraine conflict isn't a proxy game nor are digital currencies a substitute for the security of gold. Currently, global bankers are striving to erase over forty years of mismanaged finances by introducing a novel cash model.
Everyday citizens will find themselves unprepared, adopting these new digital dollars with potentially devastating effects.
History offers some lessons here: central bankers often lack imagination and those with a craving for control tend to think along similar lines. American involvement in Vietnam provides a precedent – but this effect might encompass the entire planet.
Easy Money Kills
The U.S. poured funds into South Vietnam's defense, while French banks took their share.
Conversely, the USSR wasn't troubled by similar financial drains, as its currency wasn't desired. The American dollar, in contrast, was solid gold until de Gaulle's challenge to the New York gold exchange.
Bloodshed financing in Southeast Asia seemingly wasn't golden-worthy. Like Vietnam, the emergence of CBDCs parallels wartime urgencies; in Ukraine, debates become moot when conflict explodes, while the financial aftermath is an entirely different debate.
Ukraine isn't the only stage. Iraq, Afghanistan, and ongoing actions in Syria all contribute to an expanding tally.
Crisp American dollars finance this chaos, all vying for limited goods and services. A direct way to curb currency use lies in central bank dominion through digital currencies.
The Cash Bomb
The essence of money is scarcity. We value robust currencies because they mirror the labor that crafts goods and services under the constraints of limited time and resources.
Innovation deserves applause, but excessive spending without groundwork can lead to upheaval, similar to the U.S.'s extensive financial commitments in South Vietnam.
Instability festers when wealth spawns chaos, paving the way for conflict. With traditional cash sidelined, the newer currency forms, ostensibly offloading power to its users, might ultimately bolster central banking authority.
By February 2023, 114 nations are delving into CBDCs, with successful rollouts in 11 regions.
Since November 2022, the New York Federal Reserve has initiated a 12-week CBDC pilot in collaboration with major banks to trial system integration and transaction protocols using the new digital dollar.
Ownership of data privacy equates to power over the globe. Comprehensive financial surveillance is on the horizon.
China's digital currency venture is gradually picking up pace, aiming for vast geographic adoption and projecting $300 billion in transactions by 2023.
Yet, in China, dissidents face travel, economic, and educational restrictions, independent of CBDC involvement or influence.
Last year, Canada temporarily restricted accounts linked to peaceful convoy protesters, enabling banks to freeze personal and business finances allegedly used in supporting protests without judicial oversight.
CBDC Won’t Help
To encourage digital currency adoption, Nigerian officials imposed ATM cash withdrawal caps of $45. Despite these moves, Bitcoin fascinates the populace, as highlighted by Google Trends.
In Nigeria, gas prices soared 400% within three months, exacerbating shortages. Monetary changes haven't significantly countered the 18.5% inflation leap.
Nigeria was an early CBDC adopter, yet the eNaira digital wallet struggles with less than half a percent populace utilization.
A Darker Future
CBDCs promise unending expenditure options and enhanced societal regulation. In a digital currency regime where money can be instantly invalidated, dissent is quelled, and China's social oversight serves as a glimpse into a global rollout.
Imagine living in a world governed by digital currencies, where there's no voice against economic authorities, and individuals lose their economic autonomy to escape oppressive policies.
Investing in total war is reckless enough, but challenging a superpower developing hypersonic weaponry for regional conflicts is outright folly. Wars don't breed winners; the ensnared will inevitably suffer losses.
