Posted on 08/09/2022 4:48:49 PM PDT by RomanSoldier19
Lawmakers are pushing the Federal Reserve to move swiftly toward issuing a digital dollar, to combat steps from China and others they say could one day threaten the U.S. status as the global reserve currency.
The bipartisan group of lawmakers, including Reps. Maxine Waters (D., Calif.) and French Hill (R., Ark.), has sought for the U.S. to counter global competitors launching digital versions of their currencies. The House Financial Services Committee, which both serve on, might vote on related legislation as soon as next month.
Ms. Waters has framed competition over new forms of central-bank money as “a new digital assets space race.” The Biden administration and the Fed don’t share a sense of urgency.
(Excerpt) Read more at wsj.com ...
Yeah. No.
China my ass, they want to track every transaction.
and if the system crashes and you can only pay with cash and there’s no cash ,D’oh
If we want to complete with China it is probably best to follow Trump’s advice. He said to end the Fed at CPAC. That’s quite different than what is being proposed. Plus, if Maxine Waters has anything to do with it you know it is not good for America.
Don’t do it.
Stop spending money! At what point is the debt unfeasible? We have reached it long ago. Digital currency will not be implemented. Why? Because that will prevent the "Federal" reserve from monetizing the debt by printing dollars. All the foreign US dollars in circulation, will they suddenly be void? Not quite.
We already have a digital dollar, backed up by nothing but our military might and economic reputation. We have a rep for economic stability. We do have a world wide reputation as an economic safe haven to invest in, and buy US Treasuries from. Economic stability, yes, compared to 95% of other nations.
Are they referring to a new block chain digital dollar? I must suppose so.
And the left will use it against us
>>Yeah. No.<<
Lol...I agree with the sentiment, but we all better get used to the idea cuz i’zz gonna happen. Likely sooner than later.
87,000 more IRS keystone cops a comin, you can bet your sweet patookas they’ll want a way to track every dollar transacted for the possible tax burden to fund this monumental federal fiscal mismanagement.
It’s a coming.
That’s why they need 87,000 more IRS agents
>>At what point is the debt unfeasible?<<
I’d say we’re pretty much there. Incidentally, I go out and look at the national debt clock realtime often. Two things I noticed.
A couple of months ago, the national debt was $34.6 Trillion. The debt clock now shows $30.6 Trillion.
Secondly, unfunded liabilities clocked in at $162 Trillion a couple of months ago, it now shows $170.7 Trillion.
The feds are manipulating the national debt clock. I truly believe it is because they were forced to raise interest rates which in turn causes the national debt to rise because of the service to the debt by rising interest rates.
Take a gander.
https://usdebtclock.org/
Where’s that Tracy Morgan no gif at
It’s nothing but another power grab.
When your wealth is digital they can shut you down and cancel you out in exactly the same way that social media shuts down people who post things that the arrogant snobs working behind the curtain disagree with.
Who runs bartetown?
Keeping up with the Xianses.
Well that will save on paper. Not to mention total oversight of every single transaction made. Heck you wouldn’t need another 87K IRS agents, you wouldn’t need any, just let HAL the computer run algorithms. Hmmm, maybe that should be Al Gore rhythms, though I doubt he has any rhythm.
Commentators have long predicted the cashless society and the end of the power of the US dollar will sink us
.
Another history note from the First Civil War:
Greenback is a slang term for U.S. dollars. The first greenbacks were printed to finance the civil war and were called as such because their backs were printed in green. Because they were not fully backed by gold, greenbacks lost value and caused inflation in the northern economy.
////////////////////////////////
Folk song revived as a hit by the New Christy Minstrels
was Greenback Dollar (I substitute digital here....)
Now that I’m a grown man
I’ve traveled here and there
I’ve learned that a bottle of brandy and a song
The only ones who ever care, poor boy
The only ones who ever care
And I don’t give a damn about a digital dollar
Spend it fast as I can
For a whalin’ song and a good guitar
The only things that I understand, poor boy
The only things that I understand
Some people say I’m a no-’count
Others say I’m no good
But I’m just a natural-born travelin’ man
Doin’ what I think I should, oh yeah
Doin’ what I think I should
and here it comes
Well, what the heck else are they going to do at the IRS with 87,000 new employees and $20 Billion in cash-sit on their thumbs?
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