I see a Second Civil War breaking out in America.
Now, I realize we’ve heard this before. And when I first uncovered this research, I almost dismissed it as sensationalist clickbait. But I’m glad I didn’t.
This Civil War won’t be a shooting war. We’re not going to have a war between the North and the South on the battlefields of Fort Sumter or Gettysburg. It’ll be an economic Civil War… One in which states could exert their financial independence.
And for the first time, we have the technology to make this possible.
Before I get to the technology, I want to say that all this deeply saddens me.
As a child in the United Kingdom foster care system, I had two dreams… I wanted to move to New York City and then get a job on Wall Street. I moved to New York when I was 16 and got a job at Lehman Brothers one month after my 18th birthday.
America far surpassed my dreams… It’s given me so much. I’ve found opportunity, mentors, love, and friendship here. I can’t convey in words how I feel about this country. It’s everything to me.
I don’t want this to happen. I don’t revel in telling you about this. But this is a huge event with implications that will affect every aspect of our lives.
Here’s the thing, Ideological differences have never been so dramatic. And the evidence is everywhere. You see it on television news shows… and hear it on talk radio.
I’m not the only one feeling this way.
According to a June 2018 Rasmussen poll, nearly one-third of Americans think a second Civil War will break out in the United States within the next five years.
The Pew Research Center found Democrats and Republicans are more ideologically divided than in the past.
And a Gallup Poll released on July 2—just two days before our Independence Day—found that a record-low number of Americans are proud of their country.
Parts of the country hate the other parts. The coastal elites hate the so-called flyover states. The red states hate the blue states.
This divide is widening, too. California wants to split into three states… They’ll be voting on that this November.
Friends can’t even have a healthy debate about politics anymore. And the political environment is about to get more polarized and more tense.
As I said, the Second Civil War won’t be a shooting war. It will be financial. And I think states will break away economically through the emergence of state-issued money.
Now, states won’t call this currency. The U.S. Constitution prohibits states from coining their own money. And the National Banking Act of 1863 bans state banks from issuing money, too.
But there’s a loophole in the law. States can issue bonds backed by revenue.
Right now, every state issues revenue bonds. These bonds typically trade in $1,000 increments. That could change.
With blockchain technology, states can issue bonds in increments of one cent or even smaller. People would be able to trade these bonds 24/7… So it would be similar to having cash.
Twelve of the wealthiest states in America are pushing through legislation that will allow them to create their own money.
And state lawmakers in California and New York are already pushing bills that would fund the study of state-issued cryptocurrencies.
These coins would be backed by state revenues, such as taxes.
So if you pull back and see where the trajectory is going… You could see things like Cali-coin in California, Weed-coin in Colorado, and Oil-coin in Texas.
This will give people an alternative money to invest in.
If you’re a large sovereign wealth fund and you’re looking for somewhere to park your money, you’ll choose U.S. Treasuries because they are the safest assets in the world.
But I think smart money managers will move their safe money from Treasuries to these cryptographic bonds.
What would you rather put your money in? Something backed by full faith and credit of the heavily indebted U.S. government… Or something backed by actual state tax revenue?
This will drain money away from U.S. Treasuries… And the ultimate result could well be the decline of the U.S. dollar. Its value will quickly erode if state-issued money catches on.
Regards,
Editor, The Palm Beach Letter and Palm Beach Confidential
And Official Cryptocurrency Expert to Townhall Media
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