The End Of Hegemony will come when societies, structure, humanity, groups, awake from the boy who cried wolf. When they fully say no, and no thank you to the USD, to the petrol dollar, to the drugs, addiction, and seeds of hegemony.
Countries that first adopt this stance would the ones opening to restore the intrinsic value of their citizens. The intrinsic value of a citizen is not GDP. Is not salaries. Is not how many cars they own. Is not if they have Gucci. Is not if they have a Rolex watch. Is not their PPI, mortgage, amount insured.
It is when they are free from that. It is when that country decide to restore value to their currency. This could be done not quite radically, by pegging their currency with the value of bitcoin.
The only country currently in the world that says not to GDP addiction, GDP chasing, cancerous GDP growth greed, is Bhutan – by measuring their country using Gross Happiness Index. The happiness, freedom, comfort of their citizens. Not taxpayers. Tax and payer, has nothing to do with the true intrinsic value of a society. Get it?
We have been brainwashed to think and assume, taxpayer is good, obedient dog. No tax? Not a taxpayer? Bad dog. Bad boy. Evader. Evasion. Money laundering.
In Bhutan no such concept. People help each other. Neighbours are your family. You give happiness you gain even more. You respect the environment, the plants, the animals, you get respect in return. That respect and happiness cannot be bought with vile USD. Not even gold.
Even in this new age of travel tourism – business GDP generator – Bhutan embraces it with their own set of rules. No mass marketing. No destruction of nature or Bhutanese way of life to pave way for things westerners must have. Look at Bali or Bangkok. Everything is catered to pamper the people with USD and money, the root of all evil and polluting their culture. Must have pizza. Must have 4 types of towel, 4 types of spoons. Bathtub that consumes 5 times water usage. Amazingly worst is a special power socket for their shaver! Wow. Why only shaver have this special treatment?! A super rhetorical question.
Bhutan fix a “high value” for travelers. Your contribution is about $200 per day. Look at Bangkok and Melaka, so many western backpackers begging on the streets to fund their decadent prolonged vacation. They know how to take advantage of that.
When Bhutan starts the adoption of the bitcoin as a peg to the ngultrum, things will at first be laughed at. Some people are still laughing reading this article – simply they cannot accept that a country is NOT using GDP to measure themselves but instead using Happiness. So people will laugh. Post in their Fakebook. Make a joke. Check how many likes.
Then another nation will adopt it. Could be any nation. Small nation perhaps. Or nations with strong values in their economy. Nordic nations. Other candidates, small versatile ones like Qatar, Singapore, Hong Kong. Small yet they have lots of cash in their system. Lots of value.
Then FOMO will entice other nations to join in. Then before long, nobody wants to hold USD. Nobody wants to hold their debt. Look at China, pitifully holding US Dollar debt, yet being scolded all the time by USA policies. Who wants to be insulted this manner? How long can patience, the ultimate virtue in Asia last?
Make America Great Again. Nice motto.
Make China (replace with Asia, Asian, freedom, anarchist, libertarian) Great Again, is not merely a motto. It’s an inane spirit in not just the mainland, but the diaspora that is seen even in Jamaica, Indonesia, and some small Pacific Island nation.
Addendum: Australian Central Bank considering holding Bitcoins.