Cash vs cashless is a false dichotomy within a broken system
Free Market Money vs Fed Money:
Liberty-minded individuals are rightly up in arms over the continuing financial censorship being implemented by ESG friendly and progressive policy compliant corporations, through the likes of banks, fintech companies, and other payment processing platforms.
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The last few years have indeed seen a dramatic acceleration in these platforms being more than willing to de-bank those who ideologically step out of line, serving as a disturbing onslaught against our individual rights. In recent days and weeks, that campaign has moved into overdrive.
The disturbing uptick in financial censorship has led to more and more freedom-oriented individuals rightly sounding the alarm about the problem.
And the proposed maneuvers to a Central Bank Digital Currency (we will elaborate more on this at a later date), which would further embolden the censorship regime, is undoubtedly troublesome.
But it needs to be restructured to the right paradigm. The specific cash versus cashless distinction isn’t actually as important as you may think.
Whether your dollars are deposited into a bank or buried in your backyard, your wealth remains on their monetary standard. Sure, carrying cash may allow for greater privacy and anonymity in conducting (small) transactions, but it is by no means a solution to this behemoth of a problem. And as these institutions scale up censorship, and the government more aggressively monitors transactions, deposits and withdrawals (see: the hiring of 87,000 IRS agents), holding cash is a hopeless long term strategy.
Putting aside the poor idea of physically storing significant amounts of rapidly depreciating physical cash, cash versus cashless isn’t the macro issue at hand.
The entire system is the issue.
Our money is controlled and manipulated by an unaccountable group of self-appointed rulers. We The People currently have no say over the production, debasement, and distribution of the U.S. Dollar.
What America and the world needs is a free market alternative.
Yes, I’m a Bitcoin advocate. No, Bitcoin is not a perfect money, but in my view, it is the only real, proven censorship-resistant, sound money alternative to this system of accelerating financial censorship.
The debate should center around Free Market Money versus Fed Money. Cash versus cashless is a false dilemma, because those on either side of the issue remain tethered to the same system.