Stan Szymanski
You may have never heard the term ‘expiring money’. Expiring money is basically money that comes with an expiration date. In other words, on a certain date in the future, it’s value will fall to zero.
According to the World Bank Blog (Part 1 and Part 2), expiring money is programmable money. It can transfer ownership, transfer value and be redeemable at a maturity date.
In ‘Expiring Money (Part 1)’ the authors Bossone and Faragallah expound on a few more of the applications of this utility:
…’Programmable money could eventually allow for far-reaching scenarios where the government limits access to scarce resources, applying dynamic fees on the use of, say, electricity or tolled roads, based on their usage or carbon emission measurements, and attaching pay-per-use systems to houses and cars, as discussed by Casey (2020).’…
One could also envision the powers that be using this technology to limit availability to buy food or to shut out certain persons from buying food altogether. After seeing people lose livelihoods because they refused to take the jab, it is not hyperbole to assume that access to food could be modified because an individual didn’t agree with the unilateral authoritarian control directive that would be enforced through an expiring monetary ‘smart contract’.
Use your imagination. From toll roads to electricity to housing availability, there is almost no end to the restrictions that a totalitarian authority could place on its populace through the application of ‘expiring money’.
The authors of the aforementioned World Bank Blog have said as much:
…’This could be very useful for central banks and governments distributing aid to people during severe recessions or events like pandemics or calamities, when higher uncertainty makes people spend less.’…
When economic and geo-political situations become insecure for the average person, they reduce their spending and save more because they are less assured of what tomorrow brings.
Author Mike Maloney has described this as an end game scenario of a dollar collapse in Episode 7 of his hit video series ‘The Hidden Secrets of Money’. Please consider watching the 1/2 hour video. For a synopsis of this concept you may watch minutes 22 to 28:30 in the video.
When the economy is unstable and the currency is weakening, the average person reduces their spending, even in the face of tax cuts and other policies that would put money in their pocket. They basically hold onto more of their money for longer (i.e. under the mattress). It is then that Uncle Sam will have to resort to drastic measures known as ‘helicopter money’ to print and give the populace enough money to get them to spend it in order to stimulate economic activity by increasing the velocity of money.
Before too long, everyone will realize that the money is literally worth nothing. Then they will spend all of the ‘expiring money’ as soon as it is received which will cause a hyperinflationary spiral of prices higher to levels that people will not be able to comprehend. Then, even the ‘expiring money’ will be worthless.
At that point they will concede that the game is over and the country will have to issue a currency based on something that is real. Something of value. A currency based on commodities that have real utility in the life of a person who must operate in a real world.
Unfortunately for the money printers in the US and the bloggers at the World Bank, someone is creating a currency based on commodities (like gold) that have value. They are called the BRICS (Brazil, Russia, India, China and South Africa) nations. It is not something that is coming in the future. It is something that is happening now.
Gold is the Nemesis of the PetroDollar.
The PetroDollar gets its name from Saudi Arabia (SA) agreeing to sell oil to the world denominated only in US Dollars and in return, SA received military protection from the US. After the messy exit of the US from Afghanistan in 2021 that deal basically came to a close.
When the BRICS nations roll out a gold-linked or a gold-backed world reserve currency, who will want dollar denominated assets?
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