“You have to choose (as a voter) between relying on the natural stability of gold and the natural stability of the honesty and intelligence of members of the Government. And, with due respect to these gentlemen, I advise them, while the capitalist system lasts, to vote for gold. George Bernard Shaw
Immersed in a second wave of the covid-19 which is expected to be extremely delicate, the agenda of the freedom fighters continues its course, inexorable. We are in the perfect social framework to increase restrictions: fear of an unknown agent that collapses the health system and with a non-negligible lethal capacity. Before the enemies were Al-Qaeda and ISIS (who remembers them today, despite those pornographic video clips of mass executions), now is the SARS-CoV-2. Against the former we shield the aircraft cabins and modify all the security measures at the airports; In many, such as those in Morocco, for example, baggage check-in and the first passenger check-up takes place outside the terminal, which can only be accessed by those with a boarding pass. Today it is not so much the fear of a bomb (which is still a major threat) as of a contagion the one that has emptied shops, restaurants, hotels, and all kinds of commercial premises. We are afraid, and the authorities legislate to protect us, increasing security levels for our own good.
Always for our own good, the PSOE presented a non-law proposal last June to, initially, limit cash payments (as proposed by the Treasury in 2019, as concerned about the collection as it is about the limitation of the individual’s freedom, reducing them to 1,000 euros from the current 2,500) until their complete elimination. The finding of a substantial increase in the proportion of card payments to the detriment of cash, even for small amounts, together with the famous fight against tax fraud, led the Government party, as concerned about us as any other, to request this measure. It is true that there is still some thinking head in the vicinity of the PSOE that should have warned them of the barbarity, so after fifteen days they corrected the proposal and only kept the part of limitation of cash payments.
Yes, of course I also use the card more than cash. It is comfortable, clean, contactless, perfect for the times of covid. And even more it is PayPal, Clear. But it is one thing to have payment options, and quite another to have none. Aware of the growing use of Bitcoin, central banks do not stop studying how they can continue to control the population. What is that of the competition between currencies, what is that of the sound money. Here it is about imposing by decree Gresham’s law, the one that inexorably shows how the weak currency always ends up expelling the good one. What is this freedom to choose, and to make mistakes.
The wave of cryptocurrencies
Thus, during this month of September, the five largest banks in the country (there are already four) will begin the test of the Central Bank Digital Currency, he euro digital the European Central Bank; was born to ride the wave of cryptocurrencies and not lose share in front of the projects, very advanced, from Russia and, of course, China, which leverages the Alipay experience (the PayPal Aliexpress) and Tencent, the owner of WeChat (the WhatsApp Chinese). And what is the problem if I have nothing to hide? And what is the problem, if we reduce fraud? The problem is not only philosophical, it is not only theoretical, it does not only have to do with the limitation of freedom that the reduction of options entails. The problem is multifaceted, presenting at least two essential fronts.
Then try to get that cash out. It will take you a week at least, and you will immediately be treated like a criminal
Surely many of you have received the magnificent news of having a pre-granted loan from your bank of 20,000, 40,000, even 50,000 euros. Click here and you will have the money in your account immediately. The magic of transforming air, nothingness, into money has these advantages. Of course, then try to get that money in cash. It will take you at least a week, and you will be immediately treated as a criminal, with internal alerts to the entity’s fraud control service and notices to the state prevention service. money laundering. No one doubts the importance of controlling the movements of capital used in illicit activities, but from there to considering every citizen suspicious for the mere fact of handling large amounts of cash goes a great step. But of course, if he has nothing to hide, write a check… Which will be immediately traced, as are all credit or debit card movements. Controlling what we do, where we go, where we buy, how much we buy, how much we spend and how we do it is, ultimately, the last link in the construction of the European China to which we are committed.
Move the economy
One of the major limitations on the negative rate policy applied by all central banks today is precisely the ability to choose of citizens. Several commercial entities already charge their clients for holding savings positions, in line with the financial repression imposed by the ECB. It is essential that people spend, that they do not think about the future, do not invest in productive projects, that they spend more, even more. We must move the economy, and prevent people from canceling debts, or, better still, from contracting more. We must maintain the banking business, obsolete today in its current version, and the price is the depositors, the savers. Today, if banks started charging us even more for deposits, for keeping our account, We could always demand our money and look for alternatives so as not to lose our savings, if we have anything left. Companies would emerge much cheaper than banks and as safe as them to store that cash, providing individuals with the same service that they provide today to businesses and, of course, to banks. But if they take away the possibility of physically transporting the paper, then there will be no escape.
It’s funny how that barbarian relic that said Keynes What was the gold has mutated to paper, in a process more typical of a central banker or a politician (figures, today, interchangeable) than of an alchemist. And as those of us who defend money, not credit, as an essential element of freedom, we have to brace ourselves to defend what we despise so much. As is the fact that the main drivers of the disappearance of cash in search of absolute control of civil society are, at the same time, who will give the final push to Bitcoin, Ethereum and the rest of cryptocurrencies that, today, and until the development of quantum computing, become the last refuge of freedom.
We have given up our freedom to choose out of laziness and fear. When we find out, it will be too late, and tears will no longer be worth it.