Posted on 10/10/2021 7:50:01 AM PDT by Brookhaven
The war on cash’s endgame is here: money replaced by vouchers subject to complete state control.
For those who have never heard of them, “Central Bank Digital Currencies” (CBDCs) are exactly what they sound like, digitized versions of the pound/dollar/euro etc. issued by central banks.
Like bitcoin (and other crypto), the CBDC would be entirely digital, thus furthering the ongoing war on cash. However, unlike crypto, it would not have any encryption preserving anonymity. In fact, it would be totally the reverse, potentially ending the very idea of financial privacy.
The countries where the idea progressed the furthest are China and the UK.
Other countries, including New Zealand, Australia, South Africa and Malaysia, are not far behind.
The US is also researching the idea...
Most people wouldn’t like the idea of the government monitoring “all spending in real-time”, but that’s not the worst it.
By far the most dangerous idea is that any future digital currency should be “programmable”. Meaning the people issuing the money would have the power to control how it is spent.
An article in the Telegraph, back in June, was just as candid:
"Digital cash could be programmed to ensure it is only spent on essentials, or goods which an employer or Government deems to be sensible"
The article goes on to quote Tom Mutton, a director at the BoE:
"You could introduce programmability […] There could be some socially beneficial outcomes from that, preventing activity which is seen to be socially harmful in some way."
Governments and employers making sure the money they issue can only be used on “sensible” things, and not be used in “socially harmful” ways? It doesn’t take much imagination to see just how this system could evolve and re-shape society into a truly dystopian nightmare.
(Excerpt) Read more at nationandstate.com ...
Does this mean the end of drugs and illegals getting paid?
I have been thinking that we should put all of our money into the Mattress Bank of America.
Hide your money and your guns.
Spot on !
Everytime you go to the bank, withdraw $1,000 - 10,000 and keep it in your gunsafe. Cash will NEVER be useless, despite the world digital currrency crap. It’s always going to be fungible.
You see this with the large box stores. Walmart for example has the self checkout stations. The machines are equipped to handle cash, but they turn that option off and make it credit only. No reason for this and I swear its part of a conditioning process to move us away from cash. The older I get the more I believe what use to be nonsense is true.
Try to imagine any durable good that the “progressives” might want to ban some day, and stock up on a lifetime supply.
There are two kinds of folks in 2021:
Hoarders.
Fools.
Many years ago (pre-Internet) a Federal Reserve researcher was talking on a local radio show about one situation they did not have tools to handle was a deflationary recession. They could not have negative interest rates because people could retain cash rather than save it in banks or spend it. He discussed research they had done on currency with expiration dates to force it into banks or to be spent. Government issued digital currency appears to be the ultimate version of this.
How are they going to do that for those without cellphones?
“I swear its part of a conditioning process to move us away from cash”
I am skeptical of the whole coin shortage thing. If people are not spending cash, they are not getting coins back. If they spend cash, they will spend coins in the way they always would. If there is a shortage of coins, it is because they are being removed from circulation. They are forcing us to use credit cards exclusively.
Cash will NEVER be useless, despite the world digital currrency crap. It’s always going to be fungible.
Cash is merely government-issued paper.
Silver and gold retains value better, but already the U.S. has outlawed private possession of gold. However this was done with a highly popular President in office who had large majorities in both the House and Senate. Don’t know if Brandon could pull something like that off.
Not quite there yet. States could stil, fight back by seceding will they ? Not likely, but it’s stil, an option
Dream on. A few years back I went to England and took an old 50p coin that I had from a previous trip. A store wouldn't let me spend it so I went to a bank and they told me the deadline to trade it in for the new 50p coin had passed. It was useless, except in a museum perhaps.
Until banks declare it so. During transition to digital, they will allow you to deposit your cash up to a certain date, beyond which it will no longer be considered legal tender.
If, after that date, some folks want to use the notes in their position for barter purposes, I guess that's up to them.
“Cash will NEVER be useless”
What make you think that? What is to stop them from making us change all cash into digital currency? They can set a drop dead date after which cash is either worthless or it can’t be used at retail and you have to go to a police station and apply in person for an exchange. They changed all those currencies into euros 20 years ago, and they could do the same thing today with dollars.
Haha! The coin shortage😁 pulled up to the Burger King window and asked about the coin shortage. They said pay with a card or well round it up. So I payed in coins, nickels, dimes, and pennies.
Well that didn’t go as planned.
Was glad to assist in their time of need🤗
That is the whole point: devaluing money.
They aren’t conspiracy theories any more.
They’re spoilers.
There’s plenty of reason for it. Feeding change into the cash machine is expensive. And the things are prone to breaking, and scamable.
Looks folks. Cash is dying. Cash has been dying for a long time. Every aspect of cash sucks for businesses. And they want to get away from it. The tech is finally here to replace cash. That’s life. Get over it.
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