Totalitarians love to be in charge of currencies because it allows them to cut off access to life's essentials to whomever they deem reprehensible. This was on full display in Canada a few weeks back when truckers were cut off from their bank accounts for the crime of wanting autonomy over their own bodies.
Considering that it took nothing more than a harmless flu to bring out the worst in the psychopaths in charge, it's hard to imagine a global electronic currency as anything but dystopian. The people at the top will turn switches for the slightest of reasons, and they will positively enjoy the rush of power that comes from this. The glee with which Trudeau and his buddies implemented sanctions against the unruly will pale in comparison to what will come from total control of all bank accounts and all transactions on the planet. However, this will never happen. The plot to subjugate us has already failed.
While it is true that most politicians are psychopaths, eager to control their subjects, they are also aware of the hierarchy of power. If they are not at the top, they don't want a top node, and the reason for this is now on full display.
Putin and his oligarch buddies are being shut off from transacting in dollars and euros, and must therefore find other ways to finance their operations. If it wasn't for the foresight of Putin in this matter, they would be forced to surrender at this point. However, Putin liquidated all dollar assets in June 2021, and Russia is today on a de facto gold standard.
Whatever reserves Russia accumulate is traded for gold. Russia runs a trade surplus with the world, and the state is lean compared to that of its adversaries. Taxation is therefore moderate.
Brazil, India and China are sympathetic to Russia's financial situation, while neutral as to Russia's motives in Ukraine. They will therefore continue to trade with Russia, and an age old solution for this presents itself. Anyone who wants to trade with Russia can do so with gold-backed letters of credit. If a trade surplus arises, gold is shipped between the trading partners, but for the most part, Russian products and commodities will be traded for other products and commodities.
If trade is balanced, no gold flows. Everything is taken care of through accounting, exactly the way trade was done in the olden days. Richard Cantillon wrote about this in his book. He considered it the only legitimate purpose of banking, and this is where we're heading.
In retrospect, we'll see our politicians' impulse to reach for the off buttons as our current banking system's death knell. Not only are ordinary people exposed to the whims of top level psychopaths. The same is true for top level politicians opposed to a one world order under the direct control of western bankers.
The rational response to this danger is to separate ourselves from it, and gold and silver is the logical response. Everyone are now aware of the dangers associated with modern banks, so there will be a migration out of savings accounts and into precious metals. Ordinary people will start doing what Putin did nine months ago, and from the look of it, this is already happening. Physical gold is becoming hard to find. A reprising looks imminent.
A centrally issued one world currency will not emerge. Instead, we're heading for a new gold standard where every bank note is a letter of credit, easily converted into physical gold.
And in case anyone wonders what's the big difference between a global gold standard and a global one world currency, we need only to remind people that it is God who issues gold, while unbacked currencies are issued by bankers. Who do we trust the most? The answer should be obvious.
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By Heritage Auctions for image, Mary Gillick for coin - Newman Numismatic Portal, Public Domain, Link
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