The isolated chatter about central banks going digital has turned into a torrent. That probably means that it is going to happen. The media only runs with the approved narrative.
The plan is that as the paper fiats fail, so they will be replaced with electronic money – still run by the same central banks (CBs) geniuses who destroyed the paper system.
There is no doubt that eFiat can be successfully forced into circulation. The primary means will be the same part of the legal tender laws that forced paper fiat into circulation – the need to pay taxes in them. A fiat accompli – so to speak. So far, so good.
The problem will be the lack of cash. If every transaction is noted on the electronic ledger, then everything about everyone is recorded.
That is not going to happen. The need, often a necessity, in the economy to avoid not only government taxes, but government knowledge of the transaction, is ubiquitous and eternal. If the government does not provide a means for traceless transactions (cash), then the free market will.
Which means that as CB eFiat is almost upon us, so free market money is also almost upon us. The only question is: in what form will it present itself?
The answer could not be more obvious – silver. Backyard silver coin makers will be gearing up their new business. Seigniorage will be huge for the first in.