Introduction
The EU is working fast and furiously to introduce their new digital Euro (see here). I have maintained since 2019 (see here) that the elites’ plan has always been to introduce a digital currency. Control of money is powerful, and issuing a centralised digital currency worldwide would take their power to a whole new level. With a centralised digital currency, it would be possible to confiscate digital money from people immediately. Imagine it aligned with a social credit score similar to that available in China; one wrong move, and whoops, account deleted!
Will they tell you about their ultimate strategy on day one, though? Oh no, no, no, of course they won’t! The powers that be will quietly introduce a digital currency as the solution to all of our problems, but the moment we are comfortable with it, things will change. If you watch history, you will notice this time and time again. To highlight this, I focus heavily on history in my newsletters. Understanding history allows us to see where we have been and analyse our mistakes. With this knowledge, hopefully, we can avoid similar pitfalls in the future.
Bitcoin vs the Legacy Financial System
In his white paper, Satoshi Nakamoto stated that he initially designed Bitcoin as a new form of digital cash. By being decentralised, Bitcoin has the potential to disrupt the elites’ centralised plans. I explain more about this in my book – Truth Decay – How Bitcoin Fixes This.
However, much of the current discussion involves using Bitcoin as a digital gold in the US strategic reserve to ‘back’ the dollar. As I will explain in this newsletter, this is unlikely to work and will likely backfire spectacularly.
Many champion the use of gold as the best form of money because people have used it as such for 3000 years. However, gold has not been the only source of money. In the 1600s and 1700s, silver was the primary currency in Europe, and part of the British Empire’s legacy was to change this from silver to gold. Indeed, as I have outlined in my previous newsletters, this strategy played a significant role in the British Empire obtaining its power.
Banking Networks
Groups of businessmen established banking networks during the 1800s, and trade became more efficient using paper contracts and banknotes. People learned to trust banks to store their wealth in gold and silver and use banknotes to trade. It took a long time for people to fully trust that their money was safe with the banks, though, so this was a gradual process. It took time to reassure the population that they wouldn’t lose their money by trusting the banks.
Nevertheless, some banking failures were inevitable. Bank failures devastated those who had stored their money with the banks, and this has been an ongoing political issue ever since.
In these circumstances, many turn to the government for justice. They want them to rectify the situation, as was observed most powerfully in the recent past with the 2008 financial crisis.
Bank Failures
During the 1800s, the British government formalised legislation concerning joint stock companies, which were the forerunners of our modern corporations (See Bitcoin and the Joint Stock Company). These laws made companies independent entities in their own right and created a structure whereby their owners were somewhat protected from liability if the individual companies failed. So, what identity did most of these banks have?
You guessed it, they were companies granted limited liability through these laws. Banking failures destroyed many livelihoods during this period, while their owners lived on relatively unscathed to try again another day.
Centralising the Banks
Nevertheless, the fallout from banking failures wounded a bank’s reputation, so it was best to avoid them if possible. To prevent this, banks increasingly cooperated, providing collateral behind the scenes when others were in trouble. This process was formalised by America when they introduced the Federal Reserve Act in 1913.
This cooperation of the banks made it easier for them to manipulate the money supply (number of banknotes in circulation) relative to the amount of gold held in the banks.
The strategy of manipulating the number of banknotes in circulation relative to the amount of gold in the bank had a successful historical precedent. Britain craftily won the Napoleonic Wars under the British Empire by manipulating the British pound against its gold holdings (see Bitcoin and inflation).
This newly formalised cooperation had a direct consequence when the First World War broke out. During the War, those who remembered how Britain succeeded in the Napoleonic Wars rapidly abandoned their gold standards to fund the Great War. A war with an unlimited budget led to profound devastation and huge problems with Europe’s currencies once the war was over.
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