Digital currency is debt. That’s the only way ownership of the bits can be validated.
This in contrast to paper currency, where the paper is imputed with actual value verified by simple possession.
“This in contrast to paper currency, where the paper is imputed with actual value verified by simple possession.”
Exactly. The ultimate totalitarian enslavement...digital. This socialist-induced debt fiasco is the vehicle used to take us there.
http://www.youtube.com/watch?v=7dFVFJ0iRRA
From the link above...
“How much of your wealth is allocated as zeroes ad ones on computer servers? How much is physical, in your possession and defensible?”
“If you can’t stand in front of it with an assault rifle and defend it...it’s not really yours.”
“It can be confiscated instantaneously.”
DIGITAL enslavement is the ultimate totalitarian tool. You won’t have an “assault rifle” or a bullet. The transaction will not be allowed. Your time of life/labor is the treasure of the totalitarian slavemaster.
“Socialism Is Legal Plunder” - Bastiat
BIG GOVERNMENT IS CRONY SOCIALISM a forewarning of TOTALITARIANISM
DEFUND/DISMANTLE domestic socialist collectives.
DEPOPULATE socialists from the body politic.
live - free - republic
Paper currency was imputed with actual value back when it said things like "Pay to the bearer on demand". Or, even more so when you could trade a dollar bill for 10 dimes that were each about 1/10th of an oz of silver at any bank.
But those days are long gone. All dollars whether printed Federal Reserve Notes or ones and zeros in your bank account represent debt. Dollars are created by banks as debt, that's the only mechanism of creation of money in America now, and the fact that the Treasury prints up a small fraction of the money in circulation as currency doesn't change that fact.
Or, at least that is my understanding. You seem to be making a different point, could you better explain what you mean?