Posted on 10/05/2021 6:19:51 PM PDT by RomanSoldier19
ONE major hacker would kill the entire USA economy.
Exactamundo! Its called Fed Coin and its the last thing in the world you want.
Yeah, but ours is better. It will have the same solid backing as our fiat currency does. Neener, neener.
The exact people who are unqualified to handle a cryptodollar wallet. Pure genius.
Or they could do a China and outlaw non-DigitalYuan crypto transactions and mining, then simply outlaw the non-state cryptocurrencies themselves while patterning the US CryptoDollar release along the lines of China's DigitalYuan rollout.
That would free up the blockchain resources for either Federal contract leasing or confiscation or both.
Gold is a horrible investment
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Government s have been buying RECORD amounts of gold. Hundred s of tons- why? If it is so worthless, why? They all know their paper money is worthless and are preparing for some event. Research china’s gold purchases, the US gold reserve is nothing compared to China’s. PREPARE for the much talked about “Great Reset”…..the world’s DEBT is now 300 trillion dollars- unplayable. The PBOC ( people’s bank of China) white papers state backing their cash less digital money by gold, same with Russia. Doubt me at your own peril.
How many decades have you gold bugs been saying that?
The world monetary supply is backed by debt - in the US it takes the form of bills, notes, and bonds (along with a whole host of other trash that they're now collecting).
What is debt? It is a claim on the future labor of whoever the debtor is - in our case, inhabitants of the US.
US dollars (Federal Reserve Notes) are backed by debt. Think of a dollar as: "a claim - on the claim of future labor(the debt that backs it)"
Now let's talk about your gold...
Gold can be held - but in the world monetary system it can be bought or sold for a certain amount of currency (let's say US dollars).
What does that make gold? It's a: "claim (gold) on a claim (US dollar) on a claim (bonds) of future labor".
When we cycle into deflation you will want to be as close to the labor claim as you can get (bonds - or at least dollars). Being three steps removed is perilous.
That's what gold bugs miss. They don't understand basic economics in our slave-based system.
I hope your gold investments go well - but they won't. I've been telling gold bugs this for over a decade - ever since they though gold would go to the moon in 2008.
Gold is and never has been an investment ( speculation). Gold is insurance while being a storage of wealth and has been around for more than 2,000 years. Name a paper or digital money that has that track record. ALL paper instruments in history have failed….which is why all sovereign nations own gold.
They began debt-based currency in Holland, in the mid-1600's. It then travelled to England in the late 1600's. Now - almost every country in the world has a monetary form backed by debt.
Debt is a promise of future labor. How many promises can be made? Answer: infinite - which is why the clowns in Washington have no problem increasing the debt ceiling until the cows come home.
I already know I won't change your mind - and you won't change mine.
Let's check in again in 5 years and you can show me how gold and silver have "sky rocketed". I actually expect silver to drop to around $14/oz - with gold hovering around $1,200.
Commodities (except oil because of politics) is a horrible investment right now - which includes gold and silver.
Hyper inflation would drive it very high - but do you really think our monetary masters are going to let monetary inflation happen - with the ability to pay off personal past debt with inflated dollars? Not going to happen.
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