What is being thrown around today aren’t new ideas.  They’re old ideas that have failed before, and will fail again.  Various measures might be talked about, but they’ve been long refuted.  Not only that, but have failed.  They are causing the collapse of the monetary system, and it will do the same to the system they come up with to replace it.  We can use the Nietzschean phrase “eternal recurrence.”  That’s not how he meant it, but it’s certainly apt here.

There’s absolutely no doubt the new monetary system will be called “dynamic” or something similar.  This will give the appearance that the old system is unchanging, and the new system is progressive.  It really depends on what they mean by “dynamic.”  Economic laws are unchanging, and what they mean is that these laws are dynamic and can be changed.  What entrepreneurs do is dynamic.  Economic laws aren’t.

There’s a big push to divorce money from value.  It’s not a social construct.  It doesn’t exist because everyone agreed to use it as a medium of exchange.  It originally had value.  It was a title to a real good.  The certificate to a real good could be exchanged later.  Central bank notes can’t.  Central bank digital currencies won’t be able to either.  It will make expanding credit and freezing assets easier.  There are no positives in this direction.

Expanding credit further will intensify the business cycle and make inflation worse.  Neither of those benefit the masses.  They do benefit the rulers in power.  The prosperity of the masses will be harmed.  You may think things are bad now.  It’ll be worse under a central bank currency.  Which they’ll try to make a world central bank currency.  That way, expanding credit will be easier.  No other country restraining their central bank would hold them back.

Everything will be pushed like it’ll be beneficial.  Don’t fall for it.  They aren’t new ideas.  They have failed before, and they will fail again.  The masses have been hurt by it and will be hurt by it when it comes to pass again.  Growth comes from savings, not spending.  Massive amount of credit expansion will basically force you to spend what you don’t want to.  You spend because you know the money will be worth less in the future, if not worthless.

Reference

Henry Hazlitt; The Failure of the “New Economics”