Austrian leader proposes enshrining the use of cash in country's constitution
What makes cash special is that compared to other assets, it puts a bit more power into the hands of the individual and a bit less power in the hands of the government.<p>To count or seize the individuals cash, the government has to make some fuzz. Aka send men with guns.<p>There seems to be some divide in our world between people who consider individual power a good thing and people who consider it unnecessary.<p>Here in Europe, I have the feeling the vast majority of people consider it unnecessary. The vibe I get is &quot;The system works, so why not let the government handle and control everything.&quot;.<p>I wouldn&#x27;t be surprised if that is a global phenomena and holds steady throughout time. For example, even when the US government seized their citizens gold in 1933, there was no resistance.<p>That people consider &quot;cash&quot; something they &quot;own&quot; is already a sign that people don&#x27;t understand and don&#x27;t care how they are gamed by the government. The government can take the value out of that cash however it pleases by printing more of it.<p>And no matter how much the government does that, nobody complains:<p><a href="https:&#x2F;&#x2F;fred.stlouisfed.org&#x2F;series&#x2F;BOGMBASE" rel="nofollow noreferrer">https:&#x2F;&#x2F;fred.stlouisfed.org&#x2F;series&#x2F;BOGMBASE</a><p>Governments on the other hand understand very well that money is a sham. Thats why they hold hundreds of billions of dollars in gold:<p><a href="https:&#x2F;&#x2F;www.madisontrust.com&#x2F;information-center&#x2F;which-world-countries-have-the-most-gold&#x2F;" rel="nofollow noreferrer">https:&#x2F;&#x2F;www.madisontrust.com&#x2F;information-center&#x2F;which-world-...</a><p>Way more than they hold foreign currency.<p>Gold is hard to pay with though. When Russia had their Dollars frozen last year, it was not like they said &quot;No prob, we&#x27;ll use gold then&quot;. Therefore I wouldn&#x27;t be surprised if countries will shift their reserves to Bitcoin in the coming decades. As it combines the durability of gold with the usability of money.