Posted on 11/15/2022 8:57:13 AM PST by John Semmens
Fabio Panetta, an Executive Board Member of the European Central Bank (ECB), has proposed that users of the digital euro should only be allowed to spend €50 per transaction and have a maximum monthly spending limit of €1,000. "People spend too much on frivolous and unnecessary junk," Panetta said. "We can't do much about that when people have currency in their hands. With digital money, though, we can guide people to better choices by putting them on an 'allowance' so to speak. This will tamp down binge spending. The money saved can be deposited in a fund that could be used for what the government considers more important purposes."
German Minister of Finance Christian Lindner suggested that "even greater control could be achieved by making the digital euro programmable. This would enable us to specify that it can only be spent on government-approved merchandise or at government-approved businesses. It could also be programmed to expire within a certain amount of time. This 'use it or lose it' feature would discourage hoarding. If the push of a button could erase all of a person's wealth anti-government attitudes and actions could be quickly snuffed out."
While a poll found that 43% of respondents ranked privacy as their top concern with digital money, Christine Lagarde, President of the ECB rejected privacy "because it would contravene other public policy objectives such as ensuring compliance with anti-money laundering rules and combating the financing of terrorism. Rather than simply hoping that citizens would vote against the enemies of democracy as President Biden had to do in the recent American elections, their funds could simply be confiscated and the threat aborted before it can do any harm."
The United States has confirmed that its digital currency won't provide privacy. Secretary of the Treasury Janet Yellen said "the US digital dollar will be identity verified. We will know who owns each dollar and how it is spent. If any of this money is being used improperly it can be seized under our property forfeiture authority without having to go through the trouble of a trial and be thwarted by all that 'reasonable doubt' obstruction delaying essential action. The seized funds could then be used to attain a more equitable redistribution of society's scarce resources."
President Biden suggested that "converting to a digital currency will make it easier to ensure that our resources are being spent on our greatest needs. Take the proposal to build high-speed rail between Scranton--my boyhood home--and New York. Passenger revenues won't be enough to fund it. Getting a tax increase through Congress will be tough. But if we could directly seize money from the enemies of democracy we'd kill two birds with one stone."
If you missed any of the other Semi-News/Semi-Satire posts you can find them at...
https://www.gopbriefingroom.com/index.php/topic,484657.0.html
This is tyranny, if you can’t see that, then you are blind to the truth.
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