CBDCs: Ultimate Tool of Oppression, by Laura Dodsworth

Anytime you hear our overlords praising a great Chinese policy, you know you’re scheduled to lose yet another civil liberty. They were enamored of Chinese lockdowns, and we got locked down. Now they’re excited about Central Bank Digital Currencies and China’s social credit system. From Laura Dodsworth at brownstone.org:

money

If you want a picture of the future, imagine a boot stamping on a human face – for ever,’ said O’Brien, the grand inquisitor of the totalitarian regime in Orwell’s futuristic novel 1984.

Alternatively, you could imagine a sandal.

Last month I visited Sutton Hoo, the famous Anglo-Saxon burial site of a king and his ship in Suffolk. A gold coin pendant in the museum caught my eye. It depicted a triumphant Roman standing over a conquered barbarian, his sandalled foot placed firmly on the supine opponent’s chest.

Coin depicting Emperor Honorius at Sutton Hood museum. View a better image on the British Museum website.

The ship burial probably dates from 625 AD, long after the Romans had left. The gold could have been melted down by the Anglo-Saxons but instead it was fashioned into a pendant. Maybe it conferred the prestige of the Roman world onto the wearer, or was totemic of victory. Perhaps it was an ironic reminder that the Romans were gone and every empire has its day.

The Roman on this coin was the Emperor Honorius, who ruled between 395 and 423. Miserably for Honorius, he was emperor when the Visigoths captured and plundered Rome and when the British Isles slipped from Roman control. In fact, when Romano-British cities asked him for help against barbarian attacks he told them to look to their own defences. You would never know all this from the coin, which is a fine piece of reputational management.

Coins have always been more than lumps of precious metals; they are also a means of propaganda and control.

Early bronze coins depicted cattle, as the state property of Rome was originally comprised of herds of cattle. Then coins featured Roman deities such as Mars, the god of war, or symbols of the state such as the she-wolf with twins. Later in the Republic, images of politicians featured on coins. The first living man to be embossed on a coin was the powerful Julius Caesar. One silver denarius minted around 29 BC shows a Nile crocodile (the symbol of Egypt) with the inscription ‘Egypt conquered.’ And other coins also showed emperors defeating barbarians, gleaming with undistilled power.

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