CBDC is Very Dangerous

CBDC is ultimately, a remote control with a universal adapter over everyone’s behavior.

“Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to become the means by which men deal with one another, then men become the tools of other men. Blood, whips and guns or dollars. Take your choice – there is no other.”

- Ayn Rand

Why MMT and CBDC Are Dangerous

Intro:

Given that CBDC is a growing topic among politicians, we thought this was as good a time as any to describe some basic beliefs about it and MMT adherents. Thank you in advance.

How CBDC Works:

CBDC will enable government to observe and control you from a distance. It is the device that will permit those who wish to exercise authority and control over others with no physical interface. It is the tool that enables the situation in the movie Elysium to happen. It is a technological re-imposition of caste system economics.

**CBDC is ultimately, a remote control with a universal adapter over everyone’s behavior. **

Return of Feudalism:

CBDC will restore the direct domination over men associated with feudalism, as opposed to indirect domination (which is what portable money created under capitalism) afforded us with physical money.

You eventually will not be able to leave your Lord's village¹ if it is adopted. This is what truly fictional money. You “own” it, but someone else controls it.

MMT and CBDC:

CBDC is the killer application of MMT. MMT believes money is not a store of value, but only a medium of exchange and unit of accountancy. But CBDC puts exchange control to the government. The unit of accountancy keeps tabs on you, not them.

It is very dangerous stuff. It is techno-feudalism.

Even Marx of all people, admitted that Capitalism was a far better situation than what came before it, feudalism:

Marx always emphasized that the exchange between worker and capitalist is “just” in the sense that workers (as a rule!) get paid the full value of their labor-power – there is no *direct* exploitation here. The workers are at least paid the full value of their exploitation by capitalists.

After receiving that, they are able to go and do as they want and be “exploited” elsewhere. Portable wealth ensured freedom from direct domination by authorities. Capitalism even Marx had to admit was an improvement over its predecessor, Feudalism.

So while, in a market economy, the worker remains de facto dependent, this dependency was at least enacted in the form of a Free market exchange between the worker and other persons, instead of the direct servitude or even physical coercion implemented in Feudal times- Source

Rand and Marx Agree:

The point of bringing Marx ² up is; he is saying the same thing Ayn Rand said up top; that relations between people assume the guise of relations among things. Without money as a physical portable intermediary, leeway is given for direct domination over another via blood, whips, and guns.

Take away the objectivity and universal neutrality that money affords and you guarantee physical coercion at some point.

Control, not Ownership Matters:

Everyone has what we used to call their “F* You money”— The money that allows them to not take anymore abuse and move somewhere else if pushed too hard. Take that away, or the ability for a man to ply his work elsewhere and take the money with him and you have indentured servitude, serfdom.

Marx said relationships between people manifest in the relationships among the things they use to interact with each other. So if you do not give a man money and the ability to take that money and go elsewhere.. you risk using and abusing the power that resulting control gives you…

Money, if this happens, will not be a store of value, it will be a medium of exchange only. And only a few will control distribution of that medium of exchange. That is too much concentration of power, and much too easily abused.

Take Your Pick:

So, ending where we started: You may take your pick.. Blood, guns, and whips, or physical money. Men will deal with each other using indirect, or direct tools of domination.

It will not be who owns the money that matters. It will be who controls it that matters. You will not control your CBDC money.

This video below was recorded as the author was completing his initial research on the topic.

Stalin Knew This as Well:

Joseph Stalin when asked if there would or would not be physical money in the coming communist utopia is said to have chuckled and replied:

There will be money, and there also will not be money, he said.

When pressed further for clarification he replied: Some will have money, and some will not have money.

This is what MMT and CBDC techno-feudalism will make happen that much easier. What are Gold and Silver worth in a world like that?

1. You will not “go off the reservation”, you will “stay on the plantation” as the less delicate would say

2. Marx: “relations between people assume the guise of relations among things”