Bitcoin to set us free, Libre to enslave us forever
The race for a new monetary system
In 1913 the Federal Reserve Act was signed by former President Woodrow Wilson, enabling the private banking cartel known as the federal reserve to monopolize the issuing of the US national currency, the USD.
From 1913 to 1944 the USD took over the USA.
From 1944 to 1971, the USD took over the USA, Japan, Europe, Australia, and Canada, after the US allies signed the Bretton Woods agreement, making the USD the global monetary standard in a gold exchange ratio of 35usd per ounce of gold. US allies were in fact financing the US debt.
From 1971, when the dollar was no longer exchangeable into gold, the USD took over the world with the PetroDollar deal, a deal between the USA and Saudi Arabia, setting the price for oil, needed by all nations, in USD. Again, this was a major advantage for the USA, as products were exported to the USA, and the fed only had to print or create USDs.
In doing so, a small cartel of not elected people had a grip on the whole world. Anyone who attempted to sell oil for another currency risked the consequences, often resulting in military interventionism in the Middle East.
Nevertheless, the end of the current monetary system, in which the USD is the dominant currency, is nearing its end and the race for a new monetary system is on.
Some people claim a return to a gold standard is ideal, but the current dominant player, the USA, does no longer have its former majority stake in this asset. SO they don’t like the idea of a gold standard.
China and Russia have been hoarding gold.
The IMF created the SDR, a basket of fiat currencies, this is not a viable option either, why would we replace fiat with a basket of fiat?
And now even the horrible privacy-violating Facebook is doing an attempt to replace the dollar with its brand new announced digital asset, the libre.
Then again, why would the new so powerful Chinese government allow a US company takeover, they’ll rather use their own monetary system.
Whatever the outcome is, it is extremely important that the new paradigm will not enslave us. We need to make sure that the new system doesn’t destroy the freedoms we’ve known for so long.
Therefore, libre is no longer a serious candidate, facebook’s history of legal troubles and the outsize influence made that clear already.
If I can make a suggestion, the one world currency, if it needs to be created at all, should equally be spread amongst humanity. One coin per person. Because if one nation starts with an advantage, the system is already a failure.