Hello, Rebel capitalists hope you're well.

One of the things I have been doing for the last week

and over the weekend is thinking about how the plumbing of a central bank digital currency would work.

I've made the mistake of saying, oh, well, what would happen is all of the average Joe and Janes, the businesses in the real economy,

they would simply download the Fed app. They would have an account at the Fed,

and therefore the bank reserves would become legal tender.

The only difference is the bank reserves that they would have would be programmable or it would be, I think better said traceable and this is true but it is a massive once I start to really think about okay what happens first happens first, what happens next, what happens after that,

considering the Fed, the Central Banks, the Eurodollar system, the global monetary system,

the way it's currently set up, and the way it may differ under a Central Bank digital currency.

Considering all of these things, I tried to go through the step by step processes of how we would get from where we are today to where we might well be in the future

with a central bank digital currency.

So the first conclusion I came to is people and I don't think I would

say this about the rebel capitalist community in general but even people who are into gold or Bitcoin or even Keynesians.

You know, it doesn't matter.

The global monetary system is so esoteric that I've never seen anything in my life that confuses people more than money.

Never, not even close.

And it's not just people are confused by money, but they are so far, their view of money

is not just like 10% wrong. It's like 99.9% wrong and it's not their fault because who has

time to really geek out on this stuff. I'm sure everyone in this live stream right now is a job, has kids,

you got responsibilities, have you got stuff to do?

You can't sit there and try to think through.

And why I say money, I'm talking about the US dollar. You can't sit there and think through and why I say money I'm talking about the US dollar you can't sit there and think

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