Schectman and Fitts
March 22, 2026
Writes Bill Madden:
The video linked below is too long, confusing and tedious but it contains a fairly accurate predictor of our monetary future. Although the three disparaging adjectives in the previous sentence are accurate, the important points are clearly made in the video. In essence, using programmable money like the CBDC will transfer total control from the people to the super-rich elite controlling the government. The alternative monetary system, like a black market for money instead of goods, will use precious metals as media of exchange and, for the majority of the people without precious metal, barter will be the only alternative.
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As you might know, our dollar is fiat and Voltaire said that all fiat currencies return to their intrinsic value of zero as gold priced in dollars is telling us. J.P. Morgan said that only gold is money. Everything else is credit.
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Real money must contain a “store of value”. Many hosts and guests on TV business shows claim that the scarcity factor provides value to crypto currency which is B.S. Scarcity might modify value as in supply and demand but scarcity does not possess value. In an honest monetary system, every holder of fiat currency or digital accounts must be able exchange the fiat currency or digital accounts to the asset of value backing the monetary system. Backing the monetary system with oil or real estate, as an example, is not a good system.
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This is an article discussing the Genius Act and Stable Coins. You can Google the author with: “The Aaron Day Show” which is on Rumble. His site has valuable monetary information.
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Llewellyn H. Rockwell, Jr., former editorial assistant to Ludwig von Mises and congressional chief of staff to Ron Paul, is founder and chairman of the Mises Institute, executor for the estate of Murray N. Rothbard, and editor of LewRockwell.com. He is the author of Against the State and Against the Left. Follow him on Facebook and Twitter.
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