{"id":59785,"date":"2021-10-10T06:49:07","date_gmt":"2021-10-10T11:49:07","guid":{"rendered":"https:\/\/olduvai.ca\/?p=59785"},"modified":"2021-10-10T06:49:07","modified_gmt":"2021-10-10T11:49:07","slug":"one-ring-to-rule-us-all-a-global-digital-fiat-currency","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=59785","title":{"rendered":"One Ring to Rule Us All: A Global Digital Fiat Currency"},"content":{"rendered":"

One Ring to Rule Us All: A Global Digital Fiat Currency<\/a><\/h3>\n
\"\"<\/a><\/div>\n

We\u2019ve written extensively about the \u201cwar on cash<\/a>.\u201d In a nutshell, governments would love to do away with cash in order to better track and control their citizens. There have been numerous moves closer to a cashless society in recent years, from\u00a0capping ATM withdrawals<\/a>\u00a0to\u00a0doing away with large-denomination bills<\/a>. Last year, China launched\u00a0a digital yuan pilot program<\/a>\u00a0and\u00a0the US has floated moving toward a digital dollar<\/a>.<\/span><\/p>\n

We got a first-hand look at what happens when governments restrict access to cash when\u00a0India plunged into a cash crisis<\/a>\u00a0after the country\u2019s government enacted\u00a0a\u00a0policy of demonetization<\/a>\u00a0in November 2016.<\/p>\n

It\u2019s bad enough that various countries are exploring ways to move toward cashlessness, but there\u2019s an even worse scenario \u2014 a global digital currency.<\/p>\n

Economist Thorsten Polleit compares it to the \u201cmaster ring\u201d in J.R.R. Tolkien\u2019s classic\u00a0Lord of the Rings<\/em>.<\/p>\n

\"\"<\/p>\n

The following article was\u00a0originally published by the Mises Wire<\/a>. The opinions expressed are the author\u2019s and do not necessarily reflect those of Peter Schiff or SchiffGold.<\/em><\/p>\n

1.<\/strong><\/h4>\n

Human history can be viewed from many angles. One of them is to see it as a struggle for power and domination, as a struggle for freedom and against oppression, as a struggle of good against evil.<\/p>\n

That is how Karl Marx (1818\u201383) saw it, and Ludwig von Mises (1881\u20131973) judged similarly. Mises wrote:<\/p>\n

The history of the West, from the age of the Greek Polis down to the present-day resistance to socialism, is essentially the history of the fight for liberty against the encroachments of the officeholders. (1}<\/p><\/blockquote>\n

But unlike Marx, Mises recognized that human history does not follow predetermined laws of societal development but ultimately depends on\u00a0ideas<\/em>\u00a0that drive human action.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

One Ring to Rule Us All: A Global Digital Fiat Currency We\u2019ve written extensively about the \u201cwar on cash.\u201d In a nutshell, governments would love to do away with cash in order to better track and control their citizens. There have been numerous moves closer to a cashless society in recent years, from\u00a0capping ATM withdrawals\u00a0to\u00a0doing […]<\/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":[1035,2299,4955,309,379,5570,536,12394,18779,4927],"class_list":["post-59785","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-cash","tag-control","tag-digital-currency","tag-fiat-currency","tag-government","tag-mass-surveillance","tag-money","tag-physical-currency","tag-schiffgold","tag-war-on-cash"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59785","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=59785"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59785\/revisions"}],"predecessor-version":[{"id":59786,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59785\/revisions\/59786"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}