Whether gold backed or not, CBDCs allow the system operator (government) to control the People. This is the major objection to them.
CDBCs by themselves do nothing regarding inflation. CBDCs can be based on metal, or fiat. Inflation is a product of monetary policy. Based on metal, inflation will be minimized. Fiat, no change from where we are now.
CDBCs can however be converted back to paper currency, gold-based or not, by getting rid of the CBDC system, or running a paper currency in parallel.
You can have gold backed paper currency; the US once had this. It was called 'gold certificates' or 'silver certificates.' Take it to the bank and get one ounce of gold (a US Eagle coin for example) for a $20 gold certificate.
Bottom line -- CBDC and gold vs fiat are independent of each other. Orthogonal.
Owning gold and silver is a tool to preserve wealth against runaway inflation. There are also other hedges against inflation based on other commodities. Basically things of intrinsic value, like oil and wheat.
What needs to happen, regardless of the rest, is to reduce the size and budget of government to the point (as it was before 1913) that an income tax is not required. Requiring a balanced budget is necessary. National debt owed to the Controllers, requiring an income tax to support the debt, is how the Controllers have stolen the wealth of the world. This must be undone.
The issue with BTC (in addition to your point of who owns it) is that today, it is an impractical medium for exchange. Extensive computations must be performed (by miners who are paid for it) to verify a transfer in the blockchain, and this takes many hours. It needs to be seconds max. Totally impractical for a worldwide means of exchange. Though perhaps BTC can be used to back a paper currency, like gold can. Good idea? Probably not if a bunch of SV geeks own 90% of it, if that indeed is the case.
Nobody runs Bitcoin. You’ve got to read the white paper and maybe read The Bitcoin Standard. I’m still researching but I don’t think you get it at all.
Whether gold backed or not, CBDCs allow the system operator (government) to control the People. This is the major objection to them.
CDBCs by themselves do nothing regarding inflation. CBDCs can be based on metal, or fiat. Inflation is a product of monetary policy. Based on metal, inflation will be minimized. Fiat, no change from where we are now.
CDBCs can however be converted back to paper currency, gold-based or not, by getting rid of the CBDC system, or running a paper currency in parallel.
You can have gold backed paper currency; the US once had this. It was called 'gold certificates' or 'silver certificates.' Take it to the bank and get one ounce of gold (a US Eagle coin for example) for a $20 gold certificate.
Bottom line -- CBDC and gold vs fiat are independent of each other. Orthogonal.
Owning gold and silver is a tool to preserve wealth against runaway inflation. There are also other hedges against inflation based on other commodities. Basically things of intrinsic value, like oil and wheat.
What needs to happen, regardless of the rest, is to reduce the size and budget of government to the point (as it was before 1913) that an income tax is not required. Requiring a balanced budget is necessary. National debt owed to the Controllers, requiring an income tax to support the debt, is how the Controllers have stolen the wealth of the world. This must be undone.
The issue with BTC (in addition to your point of who owns it) is that today, it is an impractical medium for exchange. Extensive computations must be performed (by miners who are paid for it) to verify a transfer in the blockchain, and this takes many hours. It needs to be seconds max. Totally impractical for a worldwide means of exchange. Though perhaps BTC can be used to back a paper currency, like gold can. Good idea? Probably not if a bunch of SV geeks own 90% of it, if that indeed is the case.
If you haven’t checked out Will Zoll “Prussiagate” https://prussiagate.substack.com/ All should. -@pgunnels dose a good job reading it. This episode talks about your topic today. https://rumble.com/v29zttk-prussiagate-this-might-be-my-favorite.html
Thanks for your work!
Thanks for your perspective. I was looking for an opposing viewpoint. And now that I've heard it, I think I'll stick with gold.
Nobody runs Bitcoin. You’ve got to read the white paper and maybe read The Bitcoin Standard. I’m still researching but I don’t think you get it at all.