Officials call it a 'security upgrade,' but it effectively cut off millions from their own money overnight.

In Thailand, we've seen a similar push to tie financial and online activity to state-issued digital IDs.

Is this part of a coordinated global push toward centralized control through digital ID systems?

Doug Casey: Without doubt.

Money is a primary manifestation of personal freedom. Money isn't just an economic good; it's a moral good. It represents the hours of your life you spent earning it, and all that you hope to provide for yourself and others in the future. It is, in effect, congealed or crystallized life.

Those who want to control other people—collectivists, statists, Marxists, the Woke, socialists, and the like—naturally want to limit the uses and the value of money. Enforcing the use of fiat currencies issued by central banks is the ideal way of doing that. It amounts to a giant fraud. But the average person stupidly accepts it as part of the cosmic firmament.

People have been told that in a democracy, they're the rulers. In reality, democracy in today's world is just mob rule dressed up in a coat and tie. It amounts to a secular religion, where the State is a god, and politicians are its priests. When it comes to financial matters, the public has become accustomed to doing what they're told.

This is nothing new. Few remember that when Roosevelt confiscated gold in 1933, he used an Executive Order—the same vehicle that Trump uses for so many things today. You'd have thought that, almost a hundred years ago, Americans would have resisted the president's wholesale theft. But they were already used to the Federal Reserve issuing currency, and the government collecting income tax. When ordered to turn in their gold, they acted like obedient little lambs.

The average American is even more supine and indoctrinated now than he was then. So I expect little resistance to digital currency, which will be a final nail in the coffin of economic freedom.