10 Terrifying Facts About Central Database Money
1. Central Bank Money evolved from gold and silver money, most of which was mined by slaves or poorly-treated workers
2. Bills and coins are dirty and covered with germs
3. Many bills are counterfeit and if you pass one on you could go to jail
4. Central Bank Money is created by authorities for free
5. No one knows how much Central Bank Money exists. Authorities provide an array of difficult-to-understand metrics like M1, M2, M2+, and M3. The definitions of these metrics vary by country
6. People cannot actually possess electronic Central Bank Money because it is owned and controlled by authorities whom people must trust
7. Central Bank Money is loaned to rich people at low interest and loaned to poor people at high interest
8. The creation rate of new Central Bank Money is decided by authorities in closed and undemocratic processes
9. Central Database Moneys have an average life span of 27 years, after which they become worthless
10. Central Database Moneys increase global inequality because owners of large money-networks like the US, Europe, and China can create far more new money than owners of small money-networks, like Peru and Kenya, without suffering devaluation
The author would like to thank Colin Neagle for inspiration. Here is a link to his bullshit article 10 scary facts about Bitcoin
