Looks to me like the goal is to have no more physical cash that can not be tracked. Easily done. All they have to do is say that the circulating currency is worthless after a certain date and that all further transactions must be digital. You will have a chance to convert and a deadline after which possession of greenbacks will be illegal.
All your income will go into a digital wallet replacing your bank account. All your expenditures will be via your smartphone, card or other device. Everything will be trackable and ultimately subject to government approval....
Of course this digital currency is completely made up out of thin air. A fiat in the truest sense of the word. That's why other countries are moving into gold. They see the US$ is worthless.
Locally, we are already using silver, gold and other forms of real money and barter items to a limited extent. It will surely be illegal to conduct any "Off book" transactions like that.
Yeah I’ve been watching Lynnette Zang’s vlogs…she says they will simply convert our 401ks to CBDC. The only way you can spend it is to participate.
Using digital would freeze out half of the old people who can't even use a smart phone or computer and have no desire to learn.Some have a few bucks as well.
Hard to imagine that would happen but who knows.