Here’s Some Food for Thought,
Well, Actually Just an Appetizer, …
What Does,
​
Uncle Sam,
Crypto & the Dollar,
and,
the-Elephant-in-the-Room,
​
Have To Do with Each Other?
ANSWER, . . .
Sorry, but, I’m gonna have to ask you two more questions first.
​
What is the National Debt? --
Answer, about $31.5 trillion -
“The elephant-in-the-room” !!!
And, does anyone have any sort of a solution
that is in any way, shape or form, reasonably achievable?
Answer, not a chance !!! Not now. It's too late.
In any “standard” economics world, the national debt and “servicing” that debt by any “regular” balance-sheet-‘slash’-business-model is
IMPOSSIBLE.!
It’s TOO LARGE.!
TOO OUTTA CONTROL.!
​
So,
whaddya do ???
WELL, YOU GET CREATIVE.!!!
YOU FINAGLE.!!!
You might even become OMNIPOTENT, and play God.
Or better yet, you play –
“Uncle Sam” !!!
​
Under the guise of,
“in the interest of, and the well-being of,
the people and the nation”,
we have to become ‘creative’ and ‘FIX’ this national debt dilemma.
IT HAS TO BE DONE.!!!
And,
WE CAN DO IT. It’s EASY.!!! (read, ‘facetiously’)
There are precedents for this kind of predicament.
Three historical actions come to mind ‘right off the bat’ –
-
the 1913 creation of the Federal Reserve System,
-
FDR’s confiscation of ALL the physical gold from all U.S. citizens,
-
and, Nixon’s ‘Shock’, - the decoupling of the dollar and gold – creating of course the “fiat” currency we all know and love (not).
​​
So, how do we implement a creative “fix” ?
We create a “parallel” world from the past.
-
We go ‘digital’,
and create a Central Bank Digital Currency – “CBDC.”.-
Thus creating a “new” Federal Reserve System,
we’ll call it “FRS3” – to match the new WEB3,
the crypto/blockchain web.
-
-
Then, Uncle Sam confiscates all physical paper dollars and replaces them w/ the new CBDC.
-
And just like FDR did with gold,
‘Uncle Sam’ will enact the “fait accompli” --
-
Uncle Sam will “decouple” the new CBDC from the “old” dollar price and “re-value” a new digital price “standard” – like “Nixon’s Shock”.
(FDR gave everyone $20.67 in new Federal Reserve dollars for each oz. of gold. And then promptly “re-established” the price of gold at $35 per oz. – thus reducing the buying power of everyone’s new money by 57%.)
And Voila.!!!
Done. Mission accomplished.
Somehow, this will all be done in a manner so as to reduce the $33T national debt to a number that “feels” and ‘seems’ reasonable.
“We can reduce and service that number” – say $330B, e.g.
That’s not the ‘elephant-in-the-room anymore’,
it’s just a very large ‘horse’!
“We can deal with ‘him’.”
“At least that ‘ginormous’ elephant is gone.!!!”
The 1913, 1933, & 1971 events happened. Not a bit of fiction,
no speculation nor opinion. No ‘conspiracy theories’.
Extrapolating them to a present-day model of some sort to fix a ‘ginormous’ national debt dilemma is not out-of-the-question.
(You have a better idea?)
Especially since
- cryptocurrencies and CBDCs already exist (in some countries),
- the “FEDNOW” program already exists,
- and Uncle Sam can decide to “play God”
in the interest of national security,
the country and its people,
by “re-evaluating” interest rates, AND,
therefore, why not “exchange rates”. ???
Might not be popular
(ya think),
but, how loud is anyone gonna scream???
And, can, or will they, do something about it???
That’s the subject for the next article!
Stay tuned.
p.s. this is happening as I write; the only question is, how it gets implemented and evolves.
p.p.s. this “food-for-thought”, this “appetizer”,
is just to put a bee in your bonnet,
no solutions, just a bee. {CBDC}
​
BSOT (be safe out there)
Best Regards,
Ian
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