The Threat of Digital Currency: There’s More | The Gold Standard 2231

The threat of a digital currency issued by the Fed impacts everyone. Our democracy and the freedoms we take for granted are in danger. The human experience, from the American perspective, is about being free.

The idea of sound money supports the fellowship of common responsibilities and interest in life, liberty, and the pursuit of happiness. Our money is an extension of that idea.

Biden’s Executive Order 14067, Ensuring Responsible Development of Digital Assets, needs discussion to establish some regulatory requirements for the emerging digital asset market. There must be a balance between privacy and the ability to gather surveillance. We focus on the possible threat to financial privacy that could become a by-product of Executive Order 14067.

Keep the Fourth Amendment in mind as you listen to our conversation. Remember that one? That’s the constitutional right requiring the government to obtain a warrant (upon showing probable cause) to access an individual’s person, house, papers, and effects. Effects should apply to individual financial records gathered by financial firms. While the order ultimately seeks answers, not action, there’s the concern that the act could lead to an economic system that robs law-abiding citizens of the freedom to engage in anonymous transactions.

The scenarios that Ken Russo illustrates are alarming. The temptation for government to control its citizens by controlling their money and how it is spent would be too great to resist. The fear of how the Fed could lord it over us is a form of tyranny of the mind.

Jefferson wrote the Declaration of Independence as an announcement of independence and democracy. Never before had a government instituted on the consent of the governed. The Declaration of Independence expresses the American idea, and its message speaks to us across time. It is up to us to listen, for it is the basis of our beliefs. It is what we stand for. Today, too many take for granted public schools, freedom of speech, and the freedom to live private lives.

We have been slowly conditioned to give up our privacy. New generations have never known the difference. Since the beginning of the last millennium, privacy violations have been pervasive. The mobile devices that we carry around help to keep us under surveillance. Younger generations have grown up in a world where cell phone providers can see where you’ve been, who you call, what websites you visit, and what things you buy using mobile apps.

Trends in American politics and society foreshadow George Orwell’s cautionary novel 1984. Probably because terms like “Big Brother” or “Thought Police” seem to be a part of the current conversation. Orwell’s dark story of a dystopian society warns of the dangers of totalitarianism, censorship, and government surveillance.

Doublespeak is the language that deliberately obscures, disguises, distorts, or reverses the meaning of words. Doublespeak leads to Doublethink. They can mean the opposite of what they say. Ignorance is strength. They mean slavery when they’re talking about freedom. If it’s called an Inflation Reduction Act, its effect will be inflation acceleration.

This purposefully ambiguous and confusing language restricts grammar and limits vocabulary to diminish the range of thought.

Instead of focusing on one particular bullion product, Ken Russo introduces us to the category of gold bullion bars. Gold is a private and reliable store of value. Owning physical gold is a hedge against inflation and provides a way to hold wealth without anyone else keeping tabs on it. Gold bullion bars are available in a wide range of sizes, from 1 gram to 1 kilogram.

Gold bars are ideal for those investors who want to invest in the value of gold rather than for any historical tradition or deal with the added premium that comes with minted bullion coins. All gold bars offered by the Midas Gold Group are 24-karat pure gold. The absolute purity of 24-karat gold gives the metal a rich royal yellow. Midas guarantees each bar to have no other metals mixed in with the gold.

Gold bars are inscribed with the weight, purity, metal content, and serial number (hallmark stamps) along with an identifying mint mark. Most gold bars come encased in an assay card, a certification from the producing mint that your gold bar is authentic. An assay card accompanies larger gold bars.

The Midas Gold group deals with the most reputable precious metals industry, such as Credit Suisse, PAMP Suisse, Valcambi, Canadian Royal Mint, and Australia’s Perth Mint.
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