Negative interest rates, expiring money.. today’s signal looks at the current popularity of yet another old idea that’s making a come back among the, ahem, less foresighted and more naive and/or megalomaniac policy and futures circles again.
Like many of its friends, UBI, personal carbon rations, social credits - it is now actually practically possible to enforce, thanks to global CBDC roll outs finally hitting the road.
And, like those same ideas, it sounds progressive too - no?
After all the problem most people have with money is that others have more of it than they do, and anything that sounds like it will take money from those who have it sounds good and fair!
The problem however is that it misses the point - the reason money is such an unfair game (and it is!) is not that interest rates (positive or negative) *exist* - it’s that the rules that define them are arbitrary. Money (the fiat money that runs our world anyway) is based on a rule BY law (arbitrary decree) system not a fair rules for all based rule of law constitution.
Therefore changing the rules without changing (or removing) the rule makers’ discretion to write and overwrite rules on a “me and my army” whim doesn’t change the outcome or winners - just how they happen to game the the incentive game next…
As always, in the policy advocacy game : keep your eyes on the prize, don’t get distracted by the means…
And let me know if you prefer a rule by or rule of law future.
Read more :
It all sounds so simple 🙄 : https://www.noemamag.com/what-if-money-expired/
It’s the economy, stupid! https://whatthefuturenow.com/2021/12/19/the-future-governments-edition/
Use it or lose it, loser