'For the War' bitcoin war
could be felt throughout the grocery aisle for the previous three years across meat, eggs, milk, bread, and more. Germany also differentiated rations by the individual . Unsurprisingly, the country also experienced a burgeoning free market of exchange.Fastforwarding ahead again, neither America, Europe, Russia, nor China have begun rationing food. But remember – history is an imperfect guide to the future.
Given there aren’t millions of men fighting on the battlefield who must be fed, I expect the shortages resulting from restricted exports and low farming yields will replace the more direct shortages incurred to feed soldiers during WWII. At this point, as Logan Roy so eloquently asked, “what is the price of a pint of milk”?
With that in mind, the best time to escape the jaws of wartime capital controls is before they are enacted. Remember that currently, your fiat net worth is zero, you are allowed to access your bank account, stock portfolio, and real estate at the discretion of the State. But when the State saysIn this digital age, we must be extremely thoughtful about what digital financial assets are fiat and what are true decentralised cryptos.
Furthermore, Bitcoin has no physical manifestation, and I can commit my Bitcoin private key to memory and spend funds whenever I like without anyone knowing. There are no outwardly visible cues as to how much Bitcoin I own. Of course, there is a very simple way they could gain your consent. An agent of the State armed with a blunt force object or gun could visit your residence and demand you sign a transaction transferring your Bitcoin to the State. You might protest that you “forgot your password”, causing the agent to apply truth serum in the form of “enhanced interrogation” techniques like breaking your knees or shooting you in a non-lethal manner.
Alternatively, there are always neutral flags in any conflict – and these neutral flags earn significant economic rewards by allowing both sides of a war to coexist within its borders. Switzerland did not participate in either world war, even though it is smack dab in the middle of Europe.
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