Posted on 09/24/2021 6:24:51 PM PDT by EBH
The future of money is here; will the Federal Reserve Board be authorized to use distributed ledger technology for the creation, distribution and “recordation” of all the transactions of a Digital Dollar?
On July 28, 2021, a new bill was introduced in the US House of Representatives. This bill, sponsored by Congressman Don Beyer,1) aims to regulate crypto-currencies. But it does more…
The bill is called the “Digital Asset Market Structure and Investor Protection Act”2) (“Digital Asset Bill”). And for the majority, it sets out future rules for crypto. However, hidden in this bill, changes to the foundation of the Dollar are proposed.
... After looking at what the FED is and isn’t allowed to do, we can look at how their authority is to be expanded. According to the Digital Asset Bill, section 11 of the Federal Reserve Act is to be amended to provide the Federal Reserve Board with new powers:
“(d) To supervise and regulate through the Secretary of the Treasury the issue and retirement of Federal Reserve notes (both physical and digital), except for the cancellation and destruction, and accounting with respect to such cancellation and destruction, of notes unfit for circulation, and to prescribe rules and regulations (including appropriate technology) under which such notes may be delivered by the Secretary of the Treasury to the Federal Reserve agents applying therefor.” 6) So far so good. But the next section, contains the real story. According to the Digital Asset bill, Federal Reserve notes will in the future also be issued digitally:
“Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized.
(Excerpt) Read more at decentralizedlegalsystem.com ...
The value of cryptocurrency is it can’t be manipulated by government.
Accepting a government cryptocurrency is the worst of all worlds.
They can track every penny you spend, and empty your account any time they please.
Great Reset
Social Credit Scores (see ESG Score - Environmental, Social Justice, Government aka are right wing?)
Yes, the Great Reset is upon us. Most people don’t know it yet because they haven’t even heard of it.
Just try to cash in those electrons.
But...but...I thought cryptocurrency is a tulip bulb...why would the fed reserve care about tulip bulbs?
Oh joy!!
Another Mark of the Beast component cometh..
You have just outlined why crypto was doomed from the beginning. Governments aren’t going to allow a currency outside of their influence to exist.
I don’t like it at all, but I’ll wait to get all worked up if it passes the House and Senate and be signed by Bite Me.
Then you will be too late to the party
p
The end of fungible money. Cash banned. Biden knows every cent you spend, where, when.
See post #2.
Crypto is going to change from an overpriced ephemeral “investment” into digital governmental fiat.
I live in the rural area between towns. We have a real dairy with a little store where we can buy fresh milk, local eggs, and more. Just last week they were told by their bank that they can no longer purchase so many quarters from the bank. What? Really, it’s a war on cash, push the customers to use plastic for their $3.25 milk? Sadly, the bank board is probably local pinhead politicians, too, and they want that land to build more hideous crackerbox houses since the RE developers fund their campaigns.
OTT It’s okay, we have JESUS - or He has us - so all of these moves have been expected. The rapture will not come until two things, the great falling away and that man of sin be revealed. (2Thess 2:3)
You may be right, in which case we are doomed to be government cryptoslaves.
And I don't think it should be trusted.
For me, it is encompassed in Natural Law by the concept of the "pursuit of happiness".
I have rights given to me by God. They are not rights given to me by Man.
That means that Man cannot take those rights from me. Only God can. If I agree that a Man or a Government gives me those rights, the corollary of that is that Man or Government can take them away from me.
At some level, I feel the same about wealth and property.
If I give complete control of access to my wealth or property to a Man or Government, they can take it away from me. If I have a gold coin in my hand, a Man or Government may make it difficult for me to have control of its value by denying me an avenue to convert it to food or shelter.
But it cannot have complete control of it.
With a cryptocurrency or a national/international digital currency they can control every single avenue of access to wealth with a click of a mouse.
It is certainly true I don't trust fiat currency, but...I can still hold a $20 in my hand and get something. That isn't the real value. The real value is that your transaction with that $20 is your own business. You can give it as a gift, pay for some freshly grown produce, pay for a bottle of whiskey or give it to a hooker if that is your thing. The Government has no say in that in an immediate and direct way, except in the actual value of that fiat currency.
But you can tell-the Statists are itching to get rid of physical currency. Itching. Their fingers are twitching just thinking of it.
For them, it is as close to the ultimate control of people as they can get.
When a Man or the Government tells you that "Your money is no good here" and they do it with a click of a button thousands of miles away, well...when you cannot buy food, shelter, or clothes in any way other Than bartering some physical or mental task or service you can render...that is pretty comprehensive control.
And they have demonstrated repeatedly, and in every way possible, that their goal is to obtain that level of control. It is why so many of them think the Communists are the Bee's Knees.
Let’s return to bartering.
you no have you die! maybe you die anyway.
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