Texas Senate Bill 2334 is advocating for a Gold backed digital currency to replace the US dollar in the state of Texas. See this article below for more about that bill, click here to read more.
CBDC (central bank digital currency) is a reaction to fiat currency debasement, and a pending collapse of the monetary system. It is the government version, or the central bank version, of the next system after this one is closed down. Which is very soon! How did we get here? Is there a better system?
To answer the first question we have this chart below. 40 years in the US of both parties voting to raise the debt ceiling!:
Another reason the monetary system is not going to last, is the 10 year bond. It is rolling over again and will likely go the same direction it has since 1983, down!:
As bond yields drop pension plans, hedge funds, institutional investors have to move out the risk curve to overcome inflation which per shadow stats, is over 9%. 5% per CPI. This will eventually drive a lot of this investment to Bitcoin.
Then, government expenditures; interest payments skyrocketing to nearly $1 Trillion. How could $1 Trillion in interest expense be sustainable longterm? Keynsian economists say so. However, government expenses this high, on this trajectory. Cannot be sustainable:
That means the monetary system has to be brought down in a controlled demolition. Hence, the reason for the continuing rate hikes since January 2022. CBDC is the globalist narrative for the next system. BRICS appears to be the populist narrative for the next system. Of course, we want to go straight to Bitcoin only. However, 200 nations may not go along. Thus, a stopgap may be required. BRICS now has over 50% of the global population going in with the BRICS reserve currency. This is a Gold backed currency, Bitcoin for international settlements. It is in the strongest position to take over from the USD as global reserve currency:
Russia (Part of BRICS) is mining more Bitcoin, and adding institutions to mine as well as engage in Bitcoin used for international settlements. If Russia is taking Bitcoin this seriously, so is China!:
As this progresses all BRICS nations will be doing the same. This will lead to Bitcoinization Globally, this may take over a decade, but eventually, it’s inevitable. We are not financial advisors, and this is not financial advise. Bitcoin, and the avenues to facilitate Bitcoin, as the anecdote to CBDC, and Globalism. This is the direction all of this monetary demolition is heading. Those who research, and see this earlier, will be the winners! Don’t capitulate to Globalist CBDC, as the next system to adapt. That is a one way street to slavery!