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 ...
Absolutely
Not a coincidence
Sigh. I know of so many people who might read my post and say that it is overheated drama queen material.
I could almost see the conversation:
ME: What do you think of all this? Do you think it won't happen?
PERSON: No! It saves money not printing currency, it is convenient, you don't have dirty physical currency, it is more orderly, you have better record-keeping, you have access to your money all the time...
ME: Wait! What do you mean, "access to your money all the time"?
PERSON: I mean if you don't get to an ATM or a bank, you can still buy things, it...
ME: What if someone, for some reason, decides you shouldn't have access to your money?
PERSON: Everything isn't a conspiracy! There would be laws in place to protect people and their money. It would be against the law to deny someone access to their money without due process.
I feel like I would have to ask them if they had ever heard of Alexandr Solzhenitsyn or read his account of a heartless, lazy, bureaucratical, tyrannical government whose only national joy seemed to be plumbing ever deeper depths of injustice or faceless sadistic cruelty.
The fact that I can even conceive of this tyranny indicates to me it is inevitable. This is awful, because I just know that this is where they intend to take us. I feel it in my bones.
Yes. Prison planet.
How can we not shudder seeing these people who wish to control our lives?
Ooh, I think I’ll sell my bitcoin and buy tulip bulbs! Or maybe a Corvette...
Crypto regs
I am sure that the same rationalizations were made by people who got carted away to concentration camps and gulags, or just plain shot in the back of the head.
Laws? As an attorney, I understand very well how they are made, the theory behind them, how they should be enforced, etc. But as a human being who had a great grandfather murdered by the NKVD (when in his mid-70s and suffering from cancer, no less), and who had over 70 distant relatives murdered by Hitler’s thugs and their collaborators, I know that laws intended to protect rights only mean something if those with the power to enforce those laws decide that it is in their interest to do so; otherwise, they are tools of deception that are used against the complacent.
Besides, even paranoids have enemies. :>)
Think of it like this:
Government says, On this date all hard currency will be recalled and exchanged for digital currency. 60 days after this date hard currency will be worthless and illegal to possess.
Two years later the government says, digital currency is now worthless. All food, supplies, material, services, etc., will be issued through government logistics centres based solely on your social score.
Where are you?
Crypto-currency advocates would argue that security is enhanced because nobody can associate a crypto asset with an individual person. That's why fraudsters and criminal love crypto.
In truth, criminals are targeting people who participate in crypto social media forums. They view them as nice targets for phishing and scam campaigns.
Two Russians Charged in $17M Cryptocurrency Phishing Spree
The nice thing about banks is they have stopgap measures to protect your savings account. They also have a reputation to protect. And there's a federal law (FDIC) protecting accounts up to $200,000.
With crypto, all you've got is your password. And if you lose your password or somebody discovers it, say sayonara to your savings.
I was considering that long before everyone was saying it was an outside the government form of currency.
Government just let the ‘free market’ develop the currency and will take it over. Steal it, from the free market of ideas.
Everyone screaming about the $600 limit for bank accounts transacting in cash to be reported to the IRS, well that is just a step towards digital currency. Eventually cash will just become archaic. This whole scheme for the currency will come in bit by bit through legislation buried deep in these bills.
The reality is if you are not debt free and need to pay any major bills they are going to want to know where and how you got that cash to do so. The dollar is going away and those not wanting to transact in digital will have to figure out another way. But if you have to pay say a mortgage or rent, then you will need pay in digitaldollars.
Honestly, this is where I can see using silver coins comes back into fashion, because the paper dollar is being made worthless.
Probably at the beginning of the Tribulation.
Then at the Great Tribulation beginning 3-1/2 years later, all other forms of currency 💲💵💲💵💲💵💵 are declared illegal and useless.
Then it’s Mark of the Beast time.
Stock up on more tradable gold and silver. Gonna need it
bmg
Of course, Congressman Don Beyer is a DemocRAT.
They want all of our money.
I've been hearing this. Maybe it's time to pull out all of our money and bury it in the yard.
I’m really concerned by the “defeatist” attitudes.
This is just another notch in the DemocRATS belt of accomplishments AND to defeat this we must take away their power. Take back Congress.
They can track every penny you spend, and empty your account any time they please.
Then don't use the digital currency. Problem solved.
Yes, but only for good reason. /S
Australia looks like our future.
This insidious plan probably can’t be stopped.
And I agree the sheep will be easily corralled.
Maybe…the only wild card we can play is over 600 million firearms. Just gotta have the balls to organize.
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