Who controls your virtual money
The big issue for you for the next five years is "who controls your share of virtual money".
There are two answers to that question. Our government and/or our central bank. If you are happy with either answer then you are probably very anxious about your future. Why? If the government is in control then you are part of a collective and you need to be "onboard" with the ideology, theology, or philosophy of the ruling public servants. Your share of virtual money will be determined, allotted, and delivered to you by those who control public sector spending [fiscal policy]. If the central bank is in control then you live inside a market-based digital system that focuses on sovereign risk. Inside this system you will earn your share of virtual money based on merit. If the central bank is in control of the velocity of virtual money then the movement towards adopting national digital currencies, Bitcoin commercial use, and gold-based settlements for international trade.
OK... So what does all that mush mean for you and me?
If your virtual money is controlled by the government then you must be, or become, tightly aligned to the rationale, "values, ideology, theology, or philosophy", for public spending. If you live inside the Euro virtual monetary, and fiscal system, you must be happy to pay for the salaries and pensions of Ukrainians. Do you care if part of your share of the virtual money pie is allocated to those who live in war zone that is all about global politics and not necessarily about you, your family, or your ability as an individual to increase your share. There is an interesting exception here. I live in the Czech Republic which is part of European Union but retains control of its own currency [Koruna]. The fact that the Czech Central bank retains control of the virtual money circulation through the local economy. This fact limits the role that the EU public servants play in allocating, redistributing, and spending virtual money in accord with what they call "our values".
If your virtual money is controlled by a market-based central bank then you must earn your share of it on merit. You must be good, exceptional, or best-of-breed in you economic contribution to a consumer, customer, government service, etc. Living inside this system you can rely on money [even in a cashless society] to accumulate in your bank in accordance with your individual needs not the collective wants of the incumbent government. You can build a business in your basement, one that stays in your basement, because big is no longer beautiful. Small, and local, is the recipe for success in a world where you can work all day long or just a few hours. In other words you can fashion a life that best fits your needs.
Over the next five years the world will shift on its axis due to the role of virtual money. Your government, or your central bank, is beginning to take control of your life through the use of virtual money. I can not predict what, exactly, will happen to you as these changes occur but I have tried to give you a simple map that you can use to better understand your future options as you strive to live you best life.
Richard.
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