How Crypto Destroyed the World

The Dream Is Becoming a Nightmare [The Daily Reckoning] September 29, 2022 [WEBSITE]( | [UNSUBSCRIBE]( How Crypto Destroyed the World - Biden’s Executive Order 14067 isn’t some conspiracy theory… - Were lockdowns a trial run for a social control system?... - “Cryptocurrency was supposed to save the world, not destroy it”... [CUSTOMER SERVICE: We’re trying to reach you]( Your important customer care message can be [found here.]( You are by no means required to act on this opportunity. But I believe it’s in your best interest. This will be removed on Friday, September 30th at midnight. You have just days to act. [Please click here for more information.]( [LEARN MORE]( West Hartford, Connecticut September 29, 2022 Editor’s note: Jim Rickards has been warning about Biden’s Executive Order 14067, which calls for the development of a central bank-issued digital dollar. Today Jeffrey Tucker shows you how it can lead to a totalitarian social credit system and the end of financial privacy. [Jeffery Tucker] JEFFREY TUCKER Dear Reader, There are conspiracy theories. There are conspiracies. And then there are nefarious plans stated openly and frankly. Executive Order 14067 from the Biden administration turns theory into fact. They’re ready to go and we are being prepared now. They are embarking on a monetary reform that will bring about a fundamental change in the monetary system and the relationship of citizens to the state as it operates through the financial system. My colleague Jim Rickards has written about it extensively. The order states bluntly: “My administration places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC.” CBDC stands for central bank digital currency. Ever since governments stopped denouncing Bitcoin as a racket and Ponzi scheme, they have decided that they want their own version. The appeal of blockchain technology has nothing to do with why so many of us fell in love with it back in 2012 or so. It promised a new form of private money that could evade censorship by the state. It was a dream come true for many of us. Finally, we would have a form of money that was entirely controlled by the free market that governments could not get their hands on. Now that very technology has become a terrifying threat. It can become the basis of a new system of full citizen control through the financial system, something akin to China’s social credit system that controls the entire population based on political loyalty. Not Speculation I cannot underscore this enough: This is not speculation. This is precisely what the Biden administration has announced. It’s as plain as day. Barring heroic political efforts to stop it, it is in the cards. Maybe it takes a year. Maybe 10. Maybe more. Regardless, this is what is happening. Maybe you have wondered how and why the Fed and the U.S. Treasury let inflation get so wildly out of control. Was it really all an accident? Are they really so stupid as to believe that they can create $6.3 trillion in new dollars, put them hot on the street by delivering them to bank accounts directly and believe that this would have no effect? Perhaps it was all deliberate. It’s part of destroying one system to create a rationale for the introduction of a new system. [Stunning New Prediction for 2022]( You’re going to want to [see this]( America’s #1 futurist just came out with a stunning new prediction for what could happen in 2022. And surprise, it’s got nothing to do with Trump. Or trade wars. Or the ongoing gyrations on Wall Street. In fact, this could be your one chance to ignore all that upsetting “fake news”… and get back to the business of getting exceedingly rich instead. [It’s all in the forecast you’ll find at this link — click now.]( [LEARN MORE]( It All Comes Together For three years, we’ve lived in a state of confusion and chaos. The government went completely insane to control a virus. Nothing like this has ever happened. We were locked in our homes and hundreds of thousands of businesses were destroyed. Church was canceled. People were arrested for surfing or hanging out at a park. Or maybe it was all for a reason and not to control a virus. It was to see what they could get away with. Shock and awe. Prepare the population to live in a permanent state of demoralization. If they could get away with that, they would get away with anything. Crucially, none of the new regulations and laws was voted on by Congress. They were imposed by unelected bureaucrats responsible to no one, not even the courts. When courts finally came around and said this is going too far, the bureaucrats responded by denying that the law had any authority over them at all. Then the economic crisis hit. Savings were depleted. The dollar commenced a slow death in its domestic purchasing power. Big business got huge while small business was crushed. Then came the vaccine. It didn’t work. But it was imposed anyway. Then we had tests in cities like New York and Boston. To use public facilities, you had to show proof of vaccination. For many people, they had to get the shot or be fired. Later, this vaccine was proved not to stop infection or spread and carried terrifying side effects. Why did they do it? They needed a trial run of a universal digital ID system that would carry medical information — and any other information they needed to add. It’s true that the system flopped and has been mostly repealed. No matter. They’ll try again, having learned from their errors. Subscription Plan Think back to the early days of the vaccine rollout. The shot with one dose was quickly denounced and pulled from the market. That was the J&J shot. The others that survived required two shots and two visits to the clinic. Then came the booster. Then another booster. Soon, the FDA and CDC started talking not about getting vaccinated but staying “up to date” on your vaccines. They were putting us on a subscription plan. This is not only a financial advantage to the producers. It also creates a rationale for constant monitoring of the population for compliance. This model is extremely useful to totalitarians. Now we are seeing the financialization of the vaccine passport carried on your cellphone. It’s not here yet but it is getting closer. Even to close out a mortgage, banks are requiring that you sign up with Real ID, which is a private company on contract with the IRS to provide proof of income and tax compliance. In order to use them, you must give the company the right to control your phone via a downloadable application. [QUICK! Count how many pennies you see]( [This Simple Chart]( Here’s why: If you missed out on making a fortune with cryptocurrencies, the recent crash has finally given you your chance to scoop up cryptos for pennies on the dollar. Literally. Because there’s a cryptocurrency quietly preparing to conquer the marketplace… and it’s trading for 96% below its all-time high. In fact… … it’s trading for the number of pennies you counted above. Get your hands on this bargain crypto while you can. [Click here to find out how to make up to an 8,788% return with crypto by 2025](. [LEARN MORE]( Not Complying? Your Accounts Are Frozen The next round of monetary reform is coming now. It will be a central bank digital currency based on the Bitcoin model. It won’t be private. Just the opposite. The great technology called blockchain will be deployed to monitor every aspect of citizen behavior. Again, I’m not speculating here. It’s what the executive order says. For example, consider energy use. The order wants information on: “connections between distributed ledger technology and short-, medium- and long-term economic and energy transitions; the potential for these technologies to impede or advance efforts to tackle climate change at home and abroad.” How would that happen? Maybe a new money “could support monitoring or mitigating technologies to climate impacts, such as exchanging of liabilities for greenhouse gas emissions, water and other natural or environmental assets.” See how this works? The government can support gas rationing with this currency. It could support meat rationing. It could punish people for donations to causes of which the U.S. government does not approve. It could shut off the ability to spend, travel or even support a son or daughter in need. Everything you do with your money will become permission-only. Can They Do It? A feature of blockchains in the private sector is that they are very hard and expensive to build. This is a major reason why all the optimism of five years ago concerning their use in supply-chain management has not panned out as planned. Legacy systems might be technologically inferior but they work whereas blockchain systems require very expensive transitions. The government will face the same problem with this monetary reform. It will take longer than they expect. What’s crucial here is the aggressive statement of intention. The deep state is in love with China’s social credit system and wants to replicate it. That’s the goal. Now that we know, what will we do about it? We can fight it, to be sure, but mostly we must prepare. On a personal note: This entire project infuriates me. Cryptocurrency was supposed to save the world, not destroy it. Regards, [Jeffrey Tucker] Jeffrey Tucker for The Daily Reckoning Editor’s note: The beauty of physical gold (and silver) is that governments can’t create it out of thin air or use it to control you. It’s the money of freedom. Gold is real money. It’s private and secure and remains incredibly valuable today. It is also dirt-dirt-cheap… for now. When the bug really hits the windshield, gold will likely explode in value and quickly become out of reach for most investors. That's why we recommend the [Hard Assets Alliance.]( We love the Hard Assets Alliance so much, we entered into a partnership with them several years ago. Hard Assets Alliance allows you to buy and take delivery with exceptionally low costs. Or with a single click, you can buy and store your metal in your choice of five audited vaults worldwide. It’s the hands-down easiest way to get started with gold and silver. It’s FREE to sign up for an account. Once you’ve completed the short account-opening process, you’ll be able to shop for the types of gold bars and coins you want to buy right away. [Go here now to get started.]( Thank you for reading The Daily Reckoning! We greatly value your questions and comments. Please send all feedback to [feedback@dailyreckoning.com.](mailto:dr@dailyreckoning.com) [Jeffrey Tucker]( is an independent editorial consultant who served as Editorial Director for the American Institute for Economic Research. He is the author of many thousands of articles in the scholarly and popular press and eight books in 5 languages, most recently Liberty or Lockdown. He speaks widely on topics of economics, technology, social philosophy, and culture. [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( The Daily Reckoning is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your The Daily Reckoning e-mail subscription and associated external offers sent from The Daily Reckoning, feel free to [click here.]( Please read our [Privacy Statement](. 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