You may remember a while back when money was valuable and you could put it in a bank for safekeeping. Well, no longer. Money value is getting trashed right now, along with the formerly safe banks. The value decline started in 1913, with the dollar today worth around 4 cents in equivalent purchasing power. And now banks are suddenly collapsing. Where is this mess headed next?
Decentralized cryptocurrencies, like Bitcoin, are being seriously challenged today by rapidly developing, government-controlled, Central Bank Digital Currency (CBDC) technologies. 112 countries, representing over 95 percent of global GDP, are exploring a CBDC. This is a big problem, since any type of digital money is not money. Real money is very different. Do you know why?
These questions may seem completely unrelated, but they are not. Together, they address two of the most important processes that are shaping our world today. Money is essential to civilized life. But it is a concept, not a real thing. And, despite so much apparent disagreement around lately, the underlying agreement is far greater than you might imagine. How so?
