We're in the midst of what many refer to as the "Summer doldrums"; a period of time where business slows down as people across all industries take some time to take a vacation with the family before the school year begins. Unfortunately for us, the Summer doldrums haven't stopped those who are dead set on cattle herding humanity into a dystopian hellscape with a highly regulated and granularly controlled financial system at the center of it. Over the last two weeks we've seen the emergence of two developments that are pushing us toward this horrid future; FedNow and Worldcoin.
FedNow was officially launched by the Federal Reserve and is a stepping stone toward a future in which a central bank digital currency is the dominant form of money in the world. Worldcoin was launched by the founder of OpenAI and a team of communists who believe their token is going to provide the world with a private sector token that will "drastically increase economic opportunity, scale a reliable solution for distinguishing between humans from AI online while preserving privacy, enable global democratic processes, and eventually show a potential path to AI-funded UBI." Pick your poison, freaks.
In all seriousness, these two "solutions" launching within a week of each other highlight the speed at which things are escalating. FedNow is an attempt for the Federal Reserve to better compete with competitors like bitcoin which have brought the world 24/7/365 instant settlement without counter-party risk. On top of this, FedNow sets the stage for the Fed being able to tightly control the flow of money throughout the banking system. Essentially determining who can spend their money and what they can buy as determined by the rules set forth within their network. This is made clear in the FedNow Service Readiness Guide.
Being able to move funds within the traditional banking system at all hours of the day may seem like a big improvement, and in a way it is, but do not be fooled. FedNow is setting the stage for a monetary and banking system that will be heavily monitored and tightly controlled by "applicable controls" that determine whether or not money that is trying to be sent by certain individuals will actually make it to its destination without a roadblock. At the end of the day, if FedNow represents anything, it is simply an upgrade of the dystopian banking system that already exists today. It's pretty trivial for banks to cut certain individuals out of the system already. FedNow will make it easier.
Worldcoin is a totally different type of monster. It leverages the affinity scam known as "blockchain technology", the embedded Cantillon effect provided by a token premine, and Orwellian bio-metric data collection in the form of an on-boarding orb that forces people to scan their irises in order to receive their Worldcoin identity and an allocation of the premine. While I do not think that Worldcoin has as good of a chance as the CBDC that will follow FedNow has at becoming the widely adopted currency of the future, I think, believe it or not, it is even more nefarious and seeped in communistic hubris than the CBDC.
Worldcoin is the brain child of Sam Altman, the founder and CEO of OpenAI. He believes that the power that he and others have unleashed with AI is set to completely disrupt the global economy and wipe out tens of millions of jobs around the world. Worldcoin is a solution that will solve multiple problems that are set to arise from the proliferation of AI throughout the global economy. It will help us distinguish between humans and artificial intelligence; Worldcoin can only be used by humans and the network assures this by only allocating tokens to individuals who allow the orb to scan their irises and hash them into the blockchain. It solves the governance problems that are sure to arise in the midst of economic disruptions that will materialize as AI rises by equipping individuals with a chain that bakes in "global democratic processes". Said another way, Worldcoin will enable some sort of direct democracy voting functionality that will enable Worldcoin holders to vote using their Worldcoin identity. And at some point Sam Altman is going to wave a wand and make people believe the concept of "AI-funded UBI" makes any sense whatsoever and begin airdropping tokens in people's wallets to make sure they can buy their daily soyslop rations.
It's important to understand that this is nothing more than a prototypical premined shitcoin scam with the most up to date brand of lipstick slapped on. The token comes with the venture capital vultures we've become accustomed to over the last six years backing the project and securing their share of the 20% premine that will inevitably be dumped on unsuspecting retail investors.
Unfortunately, it seems that the allure of a ~$50 allocation of the premine airdrop has people around the world lining up to submit their irises to the all-seeing orb.
This is the absolute state of things. The global economy is in such dire straits that people are standing in lines to submit themselves to a dystopian orb so that they can receive $50 worth of something that will take them months to figure out how to cash out. Luckily for us, the Worldcoin team isn't trying to hide their Communist intent. They are wearing it on their sleeve.
"The global economy belongs to everyone" is a line that comes out of the mouth of a college sophomore who has never worked a job and has been subjected to a year and a half of indoctrination by radical leftist professors who have never worked a real job in their lives. Modernity was brought to us via private property rights and capital accumulation by individuals. Everyone should be able to operate within the global economy, but it certainly doesn't belong to everyone. This is some pretty troubling messaging coming out of the Worldcoin project and something that shouldn't be taken lightly. When an adored technocrat from Silicon Valley tells you he intends to usher in a global communist system with his AI products and the shitcoin that is going to protect you from his AI products, you should take his words seriously. Sam Altman does not have good intentions. He wants to be the techno king of the future and Worldcoin is his ticket to the throne he envisions in his head.
This is why we bitcoin, freaks. Whether it's the Fed or Worldcoin, there are seriously demented people who are moving in haste to ensure that they have control over every aspect of your financial life. How you access money. When you can access money. And what you can do with that money. Control over all of these aspects of your financial life is made possible with CBDCs and/or Worldcoin. Do not cede that control to these psychopaths. Take agency over your wealth by adopting bitcoin as your money. The peer-to-peer nature of the network makes it so this type of dystopian control is impossible. Your bitcoin doesn't belong to everyone, it belongs to you and you alone get to decide what you do with your bitcoin. This is an extremely powerful tool in a world that is filled with people who are moving to make sure you are forced to do what they want you to do.
Feeling recharged and inspired.