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11:00AM, 14 Jul 2018

Wendy McElroy: Does Your Money Serve the State or You? - Bitcoin News

The State, in short, subjects people, whereas Society associates them voluntarily. - Felix Morley Two simple litmus tests determine whether money serves the state (organized force) or whether it serves society (voluntary exchanges). Who issues it? State money is issued either by the state or by an authority controlled by it, who claims a monopoly. Can people choose to use it or not? State money is established by requiring people to accept it as legal tender. Cryptocurrency is privately issued, and no one is forced to use or to accept it. Crypto is a pure money of society—a public money, not one that serves rulers and elites. Indeed, many people use it to escape the corrupt central banking system and its domination of the global economy through fiat money. Control of the economy is the basis of social control. ...

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