https://cryptonews.com.au/story/china-s-digital-yuan-comes-with-an-expiration-date-161413
Industrial civilization will lead to the rebirth of slavery: Belloc
A lot of people seem to be oblivious to the absolute nightmare that will be ushered in by digital currencies. It will lead to a degree of enslavement and servitude that would make Stalin blush.
The purpose of an expiration date is obvious. You will not be allowed to save or own anything. You will be forced to spend all your money. That means further consumption and investment in stocks and bonds.
It means more profits for corporations and higher stock prices for oligarchs. Do you want to save money for college, for a car, for a house? No can do.
You will either have to borrow the money or rent it. The vast majority of people rarely can amass such liquidity in hand. They are forced to either sell property or save up.
You will be forced to rent houses, rent cars, and borrow for college or to start a business. It means going deeper into debt and further fattening the banking cartels. Renting items instead of owning them is also quite lucrative for the rich.
If you own a car, you only have to pay for its maintenance. If your rent one, you have to pay for maintenance and a rent, a further avenue for income. More income for the rich via rents and interests, less safety nets for the population.
The more impoverished and cash strapped the population is, the more desperate they will be. Even if Amazon pays you 5 dollars an hour, you will be hesitant to quit the job, lest you starve. No savings means no security net, and permanent labor in search of sustenance.
The end result will be the transformation of 80-90% of the population into destitute wage slaves, who own nothing and permanently toil away for subsistence.
The handful of wealthy and bourgeois technocrat will benefit greatly however. Those who earn a large monthly income or already own substantial properties will be able to own anything, and will be able to further buy up properties from the masses.
Each economic depression will bring with it new opportunities to further consolidate property holdings into fewer and fewer hands. As we saw from the 2009 financial crisis, the rich only get richer during economic busts. The big banks grew 35% bigger after 2009.
The glorious future is fast coming to realization. You will own nothing, you will eat bugs, you will live in pods, you will work 16 hours a day, you will drink soy, the rich will fuck your wife, you will raise their kids, and you will be happy. Just watch netflix, drink soy and buy marvel toys, and all will be well.
[–]DragonerneJesus is white 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 1 fun4 insightful - 2 fun - (0 children)
[–]Nasser 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 1 fun3 insightful - 2 fun - (2 children)
[–]casparvoneverecBig tiddy respecter[S] 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 0 fun5 insightful - 1 fun - (0 children)
[–]send_nasty_stuffNational Socialist 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - (0 children)
[–]TheJamesRocket 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - (0 children)