Posted on 03/10/2022 10:28:28 AM PST by bitt
A U.S. digital currency could be on the horizon.
The Biden administration is putting its support behind the research and development of a “U.S. Central Bank Digital Currency,” or CBDC.
The move is part of a sweeping executive order President Joe Biden signed Wednesday instructing the federal government to explore possible uses of and regulations for digital assets like cryptocurrencies.
"My Administration places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC," the executive order reads.
The order asks for a wide variety of agencies to begin research and submit reports on a variety of issues surrounding digital currencies, from design and security to financial and societal impacts.
“We know the implications of potentially issuing a digital dollar are profound. They’re extraordinarily wide-ranging,” a senior administration official told reporters on a call Tuesday.
Although a U.S. digital currency would not necessarily change much in terms of everyday experiences like buying goods and services, economists say it could transform central and commercial banking, as well as government sanctions, banking accessibility and taxes.
(Excerpt) Read more at nbcnews.com ...
p
(banking accessibility)
What could possibly go wrong?
Paving the way for hyper-inflation. You go, Joe.
The goal is a cashless country, where the feds can keep up with everything you do with your assets.
I refuse to patronize any establishment that will not take cash. They’re laying the groundwork for Big Brother.
Here’s Xo Biden. Trying to catch up with the Chinese and their plans for a National Crypto Crypto Currency.
They want absolute control over what we can buy and sell.
So they didn’t think they could get a constitutional amendment passed, obviously.
Gold and silver is the only short term solution. But even they will be at risk from these thieves.
One of my doctor’s offices has a new policy, that they don’t accept cash or checks any longer. They compel you to use a credit card or debit card.
Biden is fulfilling every loopy Schwabian communistic dream in a manner that is akin to throwing feces against the bars of the cage
Monkey see, monkey do.
unConstitutional.
not that that matters anymore.
They are up to many bad deeds while people watch Ukraine.
“They want absolute control over what we can buy and sell”.
When the Social Credit Scores kick in that will be their main tool to control our ability to buy or sell.
I don’t get the headlong rush to put my finances beyond my reach
I put everything on credit cards and pay them off every month.
I make about $600 a year in cash back doing that, plus 5% off gas during one quarter, 5% off other businesses in the other 3 quarters.
I keep some cash at home in case it’s needed but so far no need.
At the rate low IQ Joe is going there will be no Nov. elections.
Everything. But it is another step toward One World Government. And the destruction of America that the people demanded when they replaced President Trump with Lying Joe Biden in the Coup of 2020. So finally at long last, the voters get to reap what they sowed. That the sheep were to stupid to realize what they were doing is besides the point.
...hey, what works for elections...
...you know the thing...
There are only extraordinary bad things the government will be capable of inflicting on us serfs with digital currency. Some of them, but not limited to these are:
1. negative interest rates - they can just subtract the money without your consent
2. the government can kill any business by entering a code preventing currency from being capable of being used there
3. can prevent a specific product from being able to bought or sold whenever they want, or, where ever they want
4. can financially block a specific person (or ground of persons) from all transactions
5. can easily implement a “social credit score” to limit the activities of political opponents
There is NOTHING good for use serfs with digital currency, only negatives and severe risk.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.