In Part 1 we noted that "money" is no more than a medium of exchange. If we cooperate in sufficient numbers, we could create an economy based upon an entirely voluntary monetary system. We don't need banks to control our exchange transactions and modern Distributed Ledger Technology (DLT) has made voluntary exchange on a global scale entirely feasible.

We contrasted the true nature of "money" with the proposed Central Bank Digital Currencies. CBDC is being rolled out across the world by a global public-private partnership . What we call money is actually fiat currency conjured out of thin air by central and commercial banks. Even so, CBDC is nothing like "money" as we currently understand it.

Prior to the pseudopandemic, fiat currency circulated in a split-monetary circuit. Only commercial banks could access a type of money called "central bank reserves" or "base money." In late 2019, the global financial institution BlackRock introduced a monetary plan that advocated "going direct" in order "to get central bank money directly in the hands of public and private sector spenders."