Transcript of the above video:

As the title of this video suggests, we are discussing "slow growth", let's just dive into it. I thought of making this video after reading a recent article from the Nation, that is nationthailand.com, the article is titled: Thai economy poised for growth in 2024, fueled by tourism and export. Quoting directly: "The Thai economy is projected to grow by 2.4% this year and 3.2% in 2024. However, if the impact of the digital wallet scheme is taken into account, the growth rate in 2024 is expected to be around 3.8%, a decrease from the earlier estimate of 4.4%."

Well here is my issue with this whole thing. For those, if you are unaware, if you follow this channel, you probably know I am not the biggest fan of this so-called digital wallet, this digital money. It isn't really money, it's just designed to track and trace all of the transactions occurring in a given economy, there is no other definition for it other than that, that's what it appears to be designed to do. First of all I think it will have a massively detrimental, if anything deflationary impact on the economy because I don't think people are going to use it to the extent that these like economic banking wonks think it will. I just think people are people and they are going to say no. What is it? Gresham's Law? Good money or "bad money drives out good" as they say. People will just not use it, I expect. That said, the other thing that really gets to me is this notion that again as we have discussed, this "money" would be printed "digitally" and then digital chits or tokens would be given to the population to then use only in certain ways. As they discussed, there is a geographic proximity issue with this; certain products you can and cannot buy utilizing this "money". Again, I don't know how you call that money, it's certainly not a currency in any meaningful sense of the word. But that said, my big thing is and I said this before, money does not create economic benefit; money is a tool, currency is a tool used as if you will, a placeholder in place of bartering, in place of actual exchange of value and when you just print it out of thin air you are not creating any value, so the question then posed is "how can you have "growth" in an economy if you are not actually creating value. And what it comes down to is as we have discussed in other videos on this topic, basically the plan is they are going to create this so-called money, which isn't money, and then just sort of hand it out which I don't even like the notion of a handout particularly. It is the old saying "if you give a man a fish, you fed him for a day. If you teach a man to fish you fed him for a lifetime". When I think of handouts, it always just makes me uneasy, the whole notion of a handout but okay, let's lay that aside. Once this "money" is handed out, it can only be used this is a certain closed circle of the economy and then on top of that, it can only be used, well I should say it didn't create new value so it is just markers being moved around that allow for taxation on a more transparent level. It's just moving stuff around and the act of moving things around, allows for the Government to tax the transactions. That is all that is really occurring, no new value is created, okay? So that is my point when I say, when they talk about oh "growth" well how can you have growth just by printing something? You are not growing the economy, you are just printing more money and people are moving stuff around that they otherwise wouldn't have because quite honestly there wasn't the economic impetus, the natural economic impetus to do so without the inducement of the fake money and then the act of moving that stuff around just results in more taxable events. Again how is that growth? To my mind, that is kind of the antithesis of growth if anything. In a way it is extractive of the overall economy. 

So again that's just sort of one man's opinion but again I think it is worth noting, they keep talking about these words like 'value' and 'growth'; the economy will grow by X amount. Well is it really growing under that scenario?