Posted on 08/13/2021 9:56:21 AM PDT by EBH
Why should Americans care? Well, partly because they have gotten used to a world in which the US dollar reigns supreme. But the rise of CBDCs could challenge that order, potentially threatening the status of the US dollar as the global reserve currency. Different countries will have a much easier time transacting with each other directly, removing the need for the US dollar or SWIFT, a global financial messaging system.
Digital currencies can be programmed to be spent in a certain way — say for food and medical supplies, but not for cigarettes or alcohol. Of course, many Americans would understandably be uncomfortable with the idea of the government knowing how your digital money is spent. And there is reason to fear that CBDCs will become a convenient way for authoritarian governments to monitor individual citizen transactions. But that doesn't have to become the dominant model.
The US could help set the standard by developing a digital currency that has privacy at its core. "If this is going to be the tech of the future, we want to make sure the US brings democratic values to bear," Chris Giancarlo, co-founder of the Digital Dollar Project, said in an interview with me.
A digital dollar should also be a tool for certain use cases, such as delivering government aid in the case of a pandemic, not an end all be all. It should not eliminate cash, which is still the most private form of money. Nor should it intend to replace non-government digital currencies like Bitcoin, dollar-pegged stablecoins or other cryptocurrencies that allow for more private transactions.
We may soon be living in a CBDC world. And if America stays on the sidelines, it could miss its chance to influence what that world looks like.
(Excerpt) Read more at cnn.com ...
silver&lead
They can also be “Turned Off’ completely.
Remember a few years back when all of the EBT cards got turned off and a lot of folks freaked out.
It’ll be like that, but this time, it’ll be hardworking, middle class Americans who just don’t seem to get in line with the program who get their government issue dcards turned off.
And your digital fortune could wiped out with the left click of a mouse.
Just ask of the local governments and companies that have been hacked and ransomed.
Government don’t like you? OOOPS, all you stuff is gone. Must have been the Russians.
A system that can be corrupted will be corrupted.
A privacy-focused digital currency is a Trojan horse. There would inevitably be "common-sense" limitations on freedom at the flip of a switch.
IF a Digital Currency is coming - you can bet your Obama it will be tied to your Digital Vaccination Passport.
No Vax? Sorry. You are not permitted to Digitally buy groceries. Report to the nearest Boxcar heading for the nearest Concentration Camp.
愚蠢的美國人。這一切都那麼容易！
Digital currency is not a currency at all. It is serfdom.
Digital currency coupled with the loss of the dollar as being the preferred monetary currency will make our savings worthless.
Newsflash: Most US dollars have long existed as virtual currency.
M1 currency is actual cash and coins, checkable deposits, and travelers checks or equivalent (gift cards) and it’s right now around $19 trillion.
M2 currency is savings deposits, money markets, CD’s, annuities, monetized debt instruments, funds in transit, and reserves and it right now stands around $111 trillion. (M2 + Borrowings)
Source: https://www.federalreserve.gov/releases/h6/Current/
After all if people would actually take the time to read the Bitcoin FAQ they would be in for quite a surprise :
"Bitcoin is not anonymous and cannot offer the same level of privacy as cash. "
Buy more TP.
“Digital currency coupled with the loss of the dollar as being the preferred monetary currency will make our savings worthless.”
Which is why I buy gold, silver, and copper coins. They’re a hedge against inflation and in the event of a loss of faith in the dollar they’re also fungible and recognizable to even dull people as money.
Bars are equally valuable but it is a smaller and more aware set of people who will recognize a quantity of
silver in bar form as having equal value to an equal quantity of silver in coin form.
“ Digital currency coupled with the loss of the dollar as being the preferred monetary currency will make our savings worthless.”
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If that’s the case, and it just might be, don’t save, spend it.
Give rid of savings, keep a small amount that’s it.
Buy Real Estate, rental properties, small businesses.
Screw gold and silver. It’s worthless to me although I have a some for people that think it has value.
Guns, ammo, and property are what you’ll need to weather a storm.
Keep some savings, cash and stock investments (people need to eat, grocery stores will always do well).
Other than that, don’t hoard cash/savings…..get something real with value, buy a farm. Doesn’t mean it needs to be a working farm right now.
Buy vacant land and build a house on it.
Yes the SWIFT system has to go. And soon.
"digital fortune"? What do you think your bank account is?
The crypotcurrencies expose just how far past the point where blood and bullets can prop up the fiat currencies of bankrupt governments.
And we will all be called conspiracy theorists by the dumbed down Dummies until we are right in the middle of it.. Even then they’ll probably still be in denial.
True. But I can go to the bank right now and withdraw cash.
Soon, if this happens, we won’t even be able to do that
No mention of the current creating of trillions out of thin air.
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