How Covid-19 Will End Paper Money - DolarUp

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How Covid-19 Will End Paper Money

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Based on a similar experience in history, I ask: "Is the money system changing again?".

Let's start the subject from history and start to bring it up to date. Get ready, we are making a little journey into the depths of history…

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Other contents about Covid-19:


Medieval Feudalism

In the middle ages, serfs in Europe, that is, slaves were the property of the landowner. The landowner would house these slaves on his land, surrounded by castles and fortifications, ensure life safety and, in return, employ them as unpaid agricultural workers. This is 'Feudality', a concept that we are all familiar with. Feudality is also a system of slavery, and although this system manifests differently in each geography and is called by different names, it basically always points to a single economic order. However, as a result of the 'big event' experienced in Europe during the Middle Ages, the slavery order we have mentioned has gradually declined and it has been replaced by the 'Wage Work Order'.

The Black Plague is Changing the Economic System!

This big event was the 'Black Plague'.

The Plague Epidemic started in China at the beginning of the 14th century. Although still uncertain today, the epidemic is thought to have been transmitted across Europe by the Mongolian army, which encircled a Genoese trade city in Crimea in 1347. The Mongolian army plague threw corpses on the city dwellers with catapults to surrender, causing the virus to spread. According to this scenario, the virus soon spread to the trade zone, and this spread to Italy, then Spain and France, and then to Europe, by the Genoese trade caravans. This plague killed poor and rich people; Queen Leanor, wife of Pedro IV, king of Aragon (a kingdom that ruled east of Spain at that time), died after the bride of the king of Castile (Spain's kingdom of Spain) the daughter of Alexander XI and Joan of England king Edward III. The Plague Outbreak caused the death of half of the population in northwest Europe between 1347 and 1350 and then repeated two more evolution in 1361 and 1369. 

Landowners had to transfer workers for high wages, as the Black Plague reduced the number of serfs to be run in northwest Europe by half. These workers were not slave status anymore. They were paid for their labor effort. In fact, the Kingdom of England passed two laws in 1349 and 1351 to limit the status of wage workers and the over-expensive in the labor market. These laws are:

1-The Ordinance of Labourers
2-The Statue of Labourers

The Black Plague thus initiated the chain of events leading to the emergence of today's capitalism and radically changed the economic order. Unlike slaves, 14th-century wage workers had the following rights:

1-Self-selection of the owner
2-Requesting a fee for labor effort
3-Changing the owner for better conditions

In the 21st century world, this paid work order has changed its basics and companies have replaced landowners. The economic order has been shaped according to this system and the socio-economic order has radically changed. However, there is a very important difference between the 14th century English worker and the 21st-century worker in terms of freedoms.

In the 600 years that passed, that is, the only new freedom given to humanity in the early 1900s: it was the freedom to comfortably spend the money it earned through cash and the advanced capitalist order. When the freedom of access to services and property within the capitalist order was combined with the freedom to spend the wage earned by the worker, a freer spending environment was created compared to previous periods. In addition, the ability of a central bank in charge of each country to print a local currency that can be converted to all other currencies strengthened the 'tradable' feature of money compared to previous periods. Cash, which is a part of the economic system in the 20th century has led to the development of inter-country trade and the ability of people to spend what they earn outside the control of any authority. The National Mint, which was established in the United States in 1792, minted the gold coins of 5, 10 and 20 US dollars until 1933, and the coins were used as payment instruments until that year. However, since there is no central bank, many different coins were used in different regions. Until 1933, 6000 kinds of banknotes were used in the lands of today's US borders. They could only see which of them was fake and which was real only with a stamp on which banker or private bank gave that banknote. This limited the ability of money to 'swap ability' and 'absolute reliability'. So someone in Florida couldn't spend his money in New York as comfortably and reliably as it is today. This shows the importance of cash in the 20th century.


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In short: Even though we did not like the advanced capitalism of the 20th century, it provided a freedom to humanity, unlike the 14th-century mankind and before.

However, it is useful to say that. Except for the minor liberties in itself, the current capitalist order has turned us, humans, into 'free slaves'.

No longer a Slave: We Are 'Free Slave'

If a Roman slave; If we asked, "You want to see yourself as a free person, how will it contribute your life quality?". He/she would say: ''I would work again to be full up, but I would decide where and under what conditions. For example, the following German landowners offered their slaves 2 meals and good opportunities. I would rather wish to be a slave there.''. Since there was no working class at that time and the slaves were not working with wages, the criterion would be the number of meals provided, not as it is today, and would have chosen to be 'slave again' in a better environment to survive.

There are three separate requests that the slave basically demands as a free person, unlike a non-free slave:

1-To determine where he will be a slave
2-Better nutrition opportunity
3-A better landowner

When we look at today's blue and white-collar employees, these are basically what they want. The difference will be apparent when we substitute the words ‘working’ instead of "slave" and ‘company’ instead of ‘landowner’. Are we really 'free slaves'?

Everyone may have a different answer, but when we examine the major changes in the history of humanity and interpret the data we obtain today, we face a different reality that we have to face.


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Cashless Society Project

It seems that the root of capitalism, which sprouted with an outbreak from China in the 14th century and which has developed in the 20th century, will fade away with an epidemic which is called 'Covid-19' from China. The 21st century is conceived in a brand new economic order. The cornerstone of this order is considered as the 'Cashless Society Project' and its purpose is; taking the last freedom in the hands of mankind whose the only difference from a free slave is to spend what he/she earns easily through cash, without centralized management. In other words, cash money has no place in the new global monetary system that will occur with the disappearance of capitalism.

We are already experiencing a preliminary stage of this order with the appearance of Paypal since 2002. Even though it has nothing to do with the new monetary system ahead, the process we have experienced since 2002 has enabled people to reduce their dependence on cash and to look hot on a digital cryptocurrency. If we consider that only 12% of the money circulating in the world today is cash, we can see how humanity is cut off from cash and prepared for something new.

No data in statistics is in vain.

With the upcoming new monetary system, humanity seems to miss even being a 'free slave'. Because now it is predicted that we will be the 'digital slaves' whose last freedom has been taken away.

You can read the post in which I explain first Turkish coin in detail in this link.

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