Posted on 06/24/2021 10:15:50 AM PDT by gattaca
The power this could give the govt over citizens is frightening.
It will be a race between total government and oligarch control over you, your labor and your money - and destruction of money and debt collapse of the USA.
I don’t know which wins.
What's a CBDC?
Define your acronyms, Journalism 101 people
Legal tender would be digitized. The implications are tremendous. Although, the emergence of a parallel black market exchange system might be encouraged if this is pushed too hard.
Ok..WTH is CBDC?
It is in the article: central bank-issued digital currency
I guess it is a crypto-currency that allows governments to inflate the value, which means it won’t be secure...
Central Bank Digital Currency
How is it different from US dollars just sent over by bank transfer or via electronic payment formats like paypal? it will be built on blockchain, showing "ownership" and also registering every transaction that dollar has made. The Federal Reserve will still have control over creation of money, but having total control and tracking over its movement, it will give them exponential power for their central-planning and government social-engineering.
the concepts are still being created, so this is merely my best guess of how it plays out.
CBCD - central bank digital currencies
Insanity.
CBDC is going to happen. Either the U.S. gets in early or we get left behind.
i.e. we have to to track your every transaction in order to keep you “free”.
It’s as safe as any other “investment” in a “Ponzi Scheme”
It doesn't go through commercial banks or commercial vendors like PayPal. Transactions are quicker.
The Federal Reserve will still have control over creation of money, but having total control and tracking over its movement, it will give them exponential power for their central-planning and government social-engineering.
Don't use CBDC and you won't have to worry.
Why is the song “Silver and Gold” stuck in my head right now?
“CBDC could provide the utilities and benefits associated with existing USD stable tokens without undermining the government’s control over monetary policy. “
Well, undermining government control over monetary policy is a feature, not a bug.
Right, it’s a Frankenstein’s monster patched together from the worst aspects of both fiat currency and digital currency.
I assume the ultimate goal is to offer the public no choice in the matter.
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