The current monetary and financial system was established on August 15, 1971, by Richard Nixon in a unilateral and temporary decision... As is often the case with governments, the temporary becomes permanent.
Once the people are used to something unjust, governments figure it's easier to turn the temporary into the permanent.
In just over 50 years, this monetary and financial system has proven to be flawed as I explain in detail in “The Truth About Bitcoin.” This system benefits a minority of people at the expense of the vast majority who are enslaved. Since the flaws in this system benefit those who run it, it is obvious that this system is also not fixable.
Understanding this is not easy, as Westerners, whose living conditions are for the moment less affected by the flaws of this system than those of emerging countries, have a feeling of security with the current monetary and financial system.
The first step is to be aware of the flaws of the current system. Until you understand a problem, you cannot appreciate the solution. This is why many people in the West continue to ignore Bitcoin. For them, Bitcoin is not something useful. The current system is not perfect, but it is enough for them. These people are amid an illusion of comfort.
The awakening could be very painful.
Those who make the effort to look beyond their small Western comfort already see what is coming for Westerners. As the current system is headed for collapse, governments and central bankers are already preparing their response: Central Bank Digital Currencies (CBDCs).
These CBDCs will be issued directly by central banks to citizens. Private banks will potentially be the big losers with these CBDCs since they will no longer be able to charge you exorbitant fees on the fruits of your labor.
CBDCs are a digital version of fiat currencies. They will exist in unlimited quantities and can be printed out of thin air. Even worse, they bring with them the disadvantages of surveillance and censorship. The issuers of these CBDCs are already happily considering associating the units of these CBDCs with expiration dates to force citizens to spend the fruits of their labor within a defined period and in areas defined by the governments.
Let's imagine that domestic consumption needs to be revived in America. The Fed will simply force you to spend digital dollar units on consumer products within 3 months... It sounds dystopian, but that is what is in store for our future.
Western governments keep criticizing the CCP, but they will not hesitate to impose the same restrictions on your freedoms if you let them do so without reacting. Remember the temporary becoming permanent...
Some people hear about Bitcoin and understand the problem Bitcoin seeks to solve, but figure they'll have time to opt for the Bitcoin plan the day their governments impose their CBDCs by force. These people figure they can then use the fruits of their labor stored in bank accounts and their cash to buy Bitcoin.
This idea is being proven wrong in Nigeria.
Nigeria is a very interesting case study for what potentially awaits us in a more or less distant future in the West. As I already explained to you, Nigeria has been trying to force its eNaira, its CBDC, on the people for months. The government's goal is to dissuade Nigerians from using Bitcoin and cryptocurrencies.
The people of Nigeria have already said that they do not want to use this eNaira, but the government still insists. Since October 2021, 99.5% of Nigerians have refused to use the eNaira. Instead, Nigerians are using either Bitcoin and cryptocurrencies, which are banned in Nigeria, or cash.
Since the Nigerian government is not satisfied with what the people are doing, it has now been decided to impose further restrictions on the use of cash in Nigeria. Always the same ambition: to impose the eNaira on the people against their will.
The Central Bank of Nigeria has started exchanging the old bills of the local currency, the naira, for new ones, which has led to a shortage of bills. Because of the scarcity of new bills, banks in Nigeria have limited access to cash for withdrawals. Some businesses are now refusing to accept the old naira, causing huge queues, angering the people, and disrupting business in the country.
Riots broke out in Nigeria. Rioters have attacked ATMs and blocked roads in three Nigerian cities as anger rises in the streets over cash shortages just days before the country's general elections.
These rioters just want to enjoy the fruits of their labor. Nothing is more legitimate after all. They have worked hard and want to be able to use their money as they wish. But as you can see, this is impossible with a government that wants to force the people to use their CBDC.
I've read some people saying that Nigerians should just switch to a Bitcoin-based circular economy by sending the Banksters packing. It's tempting of course, but the problem is that those who couldn't buy Bitcoin in the past can't afford to exchange the fruits of their labor for Bitcoin to get into this circular economy.
So they potentially have to start from scratch. Hard to accept!
What is happening in Nigeria clearly shows Westerners that the race against time against these CBDCs and more generally the mass surveillance society that will be imposed on us in the future has begun. The longer you wait and think that you will be able to switch to Bitcoin later, the more you will put yourself at risk of the same thing happening to Nigerians.
One figure should convince you that these CBDCs will eventually come to your country: 95% of the countries in the world are now exploring the possibility of implementing their CBDCs. Sooner or later, you will be confronted with CBDC. That is a certainty.
And when your government imposes a CBDC with all the restrictions on the use of your cash, you may have eternal regrets that if you had known, you would have saved some of your money in the most secure decentralized system in the world: Bitcoin.
Those who have made this choice before the others will have enough money to enter directly into this circular economy that protects us from Banksters (central or private). The others will have to start from scratch. Nothing impossible of course, but a serious handicap and a major injustice to suffer.
You now know what awaits you in the future, it is up to you to take action to protect your future.
Don't take for granted the word of Bitcoiners who tell you that Bitcoin is an incredible monetary revolution, but verify it for yourself by developing the knowledge to build your truth about Bitcoin.
That's what I suggest you do in the book “The Truth About Bitcoin: Everything you need to build your truth about Bitcoin and stop trusting others without verifying.”
The book is available on various platforms:
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In P2P mode in PDF format or EPUB format with payment in BTC: contact me by email at [email protected]
