Introducing Out of Control. There are all kinds of ways life might conspire to make other people’s experiences difficult for you to imagine. When I was a kid, my friends and I would spend hours at a time fighting off the Nazis who kept invading the abandoned forts of Point Pleasant Park in Halifax, Nova Scotia—decades after the end of World War II. It didn’t get funner than fighting Nazis. My grandmother, who lived through the Depression, saved wrapping paper, collected rubber bands, and washed aluminum foil. Weird.
Today, for all the anxiety about democratic society giving way to autocratic corruption in the United States—and all the general anxiety gripping democratic societies around the world—our frames of reference for life under dictatorship tend to be limited. The very idea that peacefully taking issue with your government might get you not just in trouble, or not just in jail, but completely wiped out financially, to the point of having no resources to keep yourself going or even feed your family—I mean, how does that happen? It’s a shocking concept.
By the way, what do you think about Bitcoin? I’ve read it’s a scam—just an inflated digital asset with no inherent value that people make money on by selling to greater fools. It’s super-volatile, vulnerable to price manipulation, and consumes a lot of energy, at that. “Crypto bros” are into it; make of that what you will. But now someone’s telling me Bitcoin is somehow indispensable to dissidents in autocratic states—a “freedom technology” for getting around dictatorial surveillance and confiscation. Not sure what to make of that.
I also just heard something about central banks across 98 percent of the global economy starting to work up their own digital currencies. China’s is apparently the big one—the digital yuan— enabling unprecedented government command over people’s money. Beijing can program it with expiration dates and monitor transactions through a centralized database of users’ financial activities, all while creating the largest repository of financial information in the world. Can you believe that? Seems incredible.
—John Jamesen Gould