“Instead of state domination and control of resources, you are destined to see the privatization of almost all services governments now provide.
For inescapable reasons that we explore in this book, information technology will destroy the capacity of the state to charge more for its services than they are worth to you and other people who pay for them.”
– The Sovereign Individual, written by James Dale Davidson and Lord William Rees-Mogg
Written by Bryan Lutz, Editor at Dollacollapse.com:
A quiet revolution is happening.
Not because of Bitcoin, cryptocurrencies or blockchain technology necessarily, but because we have new ways to store wealth.
Innovation in storage of wealth are something we can trace through time…
Even from the very early days.
In hunter-gatherer tribes, the problem of storage was solved by accepting our capacity to carry things. People simply moved on to a new area where abundant resources could be found.
Wealth could remain in the land until…
In agrarian cultures, when men had an excess of resources they would build a bigger barns.
Or they would seek out others to barter for resources they could not acquire themselves, which led to industrial cultures.
In industrial cultures we developed cities, which naturally translated into the development of precious metals (gold and silver), shells, or bolts of cloth to store wealth, and then exchange later.
Then wealth accumulated by individuals in industrial cultures created the Aristocratic class, which eventually led to the assertion that a king might be a better ruler(I’m sorry, I feel like that statement is glazing over quite a lot. There is more to say, but not now).
Kings would become a store of wealth, and the first “banks” for nations, while some aristocracy still acted as lenders in the private sector.
Zooming in now…
The Riksbank in Sweden, was established in 1668. It was the first central bank system in Europe. Its origins trace back to the Stockholm Banco, founded in 1656.
Stockholm Banco was Sweden’s first bank and it introduced paper money to Europe. However, the bank faced problems because it issued too many banknotes without sufficient capital(gold) to cover them, leading to collapse.
So, the Riksbank was created by Swedish parliament to manage the currency and ensure stability for the nation. What this did was inextricably link the storage of wealth with the most current political regime.
You could picture it as close to a king storing much of a nation’s wealth except that the storage of wealth would now be politicized.
America’s Founding Fathers saw the problem with politicized currency and attempted warn against it as much as possible.
Thomas Jefferson, the 3rd President of the United States said:
“I believe that banking institutions are more dangerous to our liberties than standing armies.
Already they have raised up a money aristocracy that has set the government at defiance.
The issuing power should be taken from the banks, and restored to the people to whom it properly belongs.”
Unfortunately, that warning was not heeded.
After the American Civil War, through legislation of the Federalists, American banking slowly became centralized leading to the creation of the US Federal Reserve over thirty years later in 1913.
The Federal Reserve now effectively owns your currency, and by default of being the USD being the World’s Reserve Currency, manages the value stored in almost every nation in the world.
And that’s why most investors obsess over what the Federal Reserve is doing.
You, and me, and my mom’s retirement savings all want to know if we can afford groceries a year from now.
That’s the power of central banking…
Now this quiet revolution is changing everything.
It is a revolution in how we store wealth.
Yes, you can carry gold in your hands.
You can touch and feel it.
But you can only store and carry so much without buying several firearms, a vault, and an underground bunker to maintain immediate access to your wealth…
It’s just not practical.
What is practical is the self-custody of large amounts of wealth available to you in your pocket.
That’s what Bitcoin and some cryptocurrencies can do.
And with a second, or multiple passports you basically obtain the freedom of the hunter-gatherer society…
You can choose to go to whichever country makes resources most abundant for you and your family…potentially gaining the wealth of kings.
And if you’re worried about access…
If the internet gets shut down in your area, you won’t have access with your debit or credit card either.
At that time, gold and silver can work, but only for so long while you wait for your shipment from the vault.
Really, maintaining access to Bitcoin, your checking account, your crypto(if you want to) can be as simple as the prepping you may already be doing.
A satellite phone, Starlink, solar panels, a few jerry cans, and a generator…
The quiet “store of wealth” revolution is here, but…
Only for those willing to allocate 10% of their wealth.
10 percent…
Many already are allocated that on top of their gold.
As always, let me know what you think.
