{"id":57469,"date":"2021-04-14T07:19:16","date_gmt":"2021-04-14T12:19:16","guid":{"rendered":"https:\/\/olduvai.ca\/?p=57469"},"modified":"2021-04-14T07:19:16","modified_gmt":"2021-04-14T12:19:16","slug":"war-on-cash-the-next-phase","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=57469","title":{"rendered":"War on Cash: The Next Phase"},"content":{"rendered":"
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War on Cash: The Next Phase<\/a><\/h3>\n

With so much news about an economic reopening, a border crisis, massive government spending and exploding deficits, it\u2019s easy to overlook the ongoing war on cash.<\/p>\n

That\u2019s a mistake because it has serious implications not only for your money, but for your privacy and personal freedom, as you\u2019ll see today.<\/p>\n

Cash prevents central banks from imposing negative interest rates because if they did, people would withdraw their cash from the banking system.<\/p>\n

If they stuff their cash in a mattress, they don\u2019t earn anything on it; that\u2019s true. But at least they\u2019re not losing anything on it.<\/p>\n

Once all money is digital, you won\u2019t have the option of withdrawing your cash and avoiding negative rates. You will be trapped in a digital pen with no way out.<\/p>\n

What about moving your money into cryptocurrencies like Bitcoin?<\/p>\n

Governments Won\u2019t Surrender Their Monopoly Over Money<\/b><\/p>\n

Let\u2019s first understand that governments enjoy a monopoly on money creation, and they\u2019re not about to surrender that monopoly to digital currencies like Bitcoin.<\/p>\n

Libertarian supporters of cryptos celebrate their decentralized nature and lack of government control. Yet, their belief in the sustainability of powerful systems outside government control is na\u00efve.<\/p>\n

Blockchain does not exist in the ether (despite the name of one cryptocurrency), and it does not reside on Mars.<\/p>\n

Blockchain depends on critical infrastructure, including servers, telecommunications networks, the banking system, and the power grid, all of which are subject to government control.<\/p>\n

But governments know they cannot stop the technology platforms on which cryptocurrencies are based. The technology has come too far to turn back now.<\/p>\n

So central governments don\u2019t want to kill the distributed ledger technology behind cryptos. They\u2019ve been patiently watching the technology develop and grow \u2014 so they could ultimately control it.<\/p>\n

Anyone who controls the money controls political power, the economy, and people\u2019s lives.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

War on Cash: The Next Phase With so much news about an economic reopening, a border crisis, massive government spending and exploding deficits, it\u2019s easy to overlook the ongoing war on cash. That\u2019s a mistake because it has serious implications not only for your money, but for your privacy and personal freedom, as you\u2019ll see […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[1035,124,11023,6334,17132,379,1013,536,5432,6189],"class_list":["post-57469","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-cash","tag-central-banks","tag-daily-reckoning","tag-digital-cash","tag-digital-money","tag-government","tag-jim-rickards","tag-money","tag-physical-cash","tag-physical-money"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57469"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57469\/revisions"}],"predecessor-version":[{"id":57470,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57469\/revisions\/57470"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}