Commentary: The Money Has Failed! (Part One)
Martin G. Collins
Given 10-Dec-16; 14 minutes
Martin Collins, claiming that economists often refer to Daniel Defoe's Robinson Crusoe because it portrays a lone man facing a scarcity in economic goods without any means of exchange of value, suggests that one in such a situation will prioritize his needs in a hierarchy of value. In a world of limited resources, a person should make decisions as to how to achieve his goals. What would we do if we had no money? When it comes to eating or starving, money has no value compared to food. During the famine in Egypt, the value of money had fallen to zero. When there is no bread, the one who has bread can buy anything of value with it. One will sell himself into slavery for a morsel of life-sustaining food. The Patriarch Joseph bought all land and resources for the Egyptian Pharaoh by exchanging food for other material resources. Grain became the new form of money. Whatever everybody wants is true money. Today, cash has value; next year that may not be. Kenneth Rogoff, Harvard economist and champion of the Federal Reserve System, has seriously proposed a phasing out of cash because of the lack of centralized control. Electronic cash would make taxation and confiscation easier, facilities 'progressive' authoritarian regimes have always loved. Some governments around the world, such as the Indian government, have started to phase out cash, instigating massive panics and riots at ATM machines. The price of gold immediately skyrocketed. The India government wants to move its citizenry to a cashless society so it can control every aspect of its peoples' lives by its chokehold on the digital banking system. Failed money is the same as unmarketable money. Digital currency severely limits freedom of movement and choices, tethering one to immense authoritarian government control by elite, unelected globalist brigands.
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