The day is Monday, January 1st, 2101, the new calendar year brings in with it a new scope of what possibilities the following months could bring. The stock markets haven’t slept though, they never sleep anymore, not since the trading bots started making transactions for the traders. By using astute algorithms to predict the price through careful analysis of fundamentals and movements of other players, the inaccuracies and eccentricities of man proved too costly, too often and insubordinate, slowly becoming obsolete. Fiat currency is dead, it died a long time ago, along with face to face consumer transactions, physical labor, and liberalism. Credits are earned in the form of tokens created by the ‘Byzantium group’, of which a fraction of each returns to them, to the nations’ government and to the world AI council for every transaction made. These are the taxes of the 22nd century.
Seems like something out of a science fiction novel right? Indeed it could be, but the elements that shape the picture can be seen countless times throughout the history of money. From the Lydians who created the first metal coin ‘electrum stata’ from the shiny gold/silver alloy and stamping their seal onto it for mass consumption and recognition, to the introduction of taxation by the Lagashians in ancient Iraq, to the Medici family’s introduction of ‘loan payments and regulatory backed ‘IOU’s by the Medici bank in Italy, to the US dollar, whose worth, once backed by the federal reserve and their gold supply, is now not backed by anything, but merely a standalone paper and shiny sub worth metal currency. In fact, 99% of all currencies currently in circulation contain just a fraction of the precious material once giving them their worth. In a future destined to become cashless, how could these survive? Money has had many forms over the eras, but some things have stayed the same, those in control of it, have the power.
So here are ten steps to control society, it could be easier than you think:
1. Find something of worth
2. Generate interest
3. Create demand
4. Control the supply and tax it
5. Dilute and redistribute
6. Introduce negative balance
7. Remove original from circulation
8. Sell the fakes
9. Tax the fakes
10. Charge for ownership
So could this crazy ‘sci-fi’ future laid out initially come to pass? With all possibility, JP Morgan coin could be considered a landmark. Not for the benefit of the cryptocurrency space, but for the next cycle of economic control. Their token value is only retained through the eco-system of the JP Morgan transactional economy, what is it backed by? The dollar, apparently. But what will it be used for? Only time will tell, for all our benefits, let's hope the altruistic egalitarian nature of Bitcoin remains strong.
Please feel free to add further examples for each of the sections. I will also continue to add to these over time. Hopefully, before too long the message will be infallibly clear.