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Gotta get rid of physical cash. So they create a digital currency, and inflate the dollar.
The terrible part about this (among many!) is that the new currency will just be another inflationary coin too.
My chances of being a billionaire seem to be increasing.
I thought the Fed was already creating imaginary currency out of thin air.
“plans to publish a research paper on the subject.”
Only after a research team consisting of people of a diverse mix has been assembled and mathematics is not a requirement.
They want to be able to tax every transaction. Digital currency is how they will do it.
A clear effort to bring digitals under their power.
They have been looking at doing this for quite a while now. It is nothing new. I was posting about it a number of months back.
A digital currency linked to global economy via the central banking system.
They have got to do something as China is going to require everyone use THEIR digital currency during the Olympics. China is far, far ahead of us on this. From digital currency to social scores.
I warned the crypto fanboys this was absolutely coming. Within two years bitcoin will be dead or a zombie. It is a hobbyist developed coin that has severe deficiencies for widescale use.
ya...already have one...its called the USD....its traded electronically...and no one has to sit down and build a back door into it to pretend its has “privacy” and “anonymity”
Dems sure do love Ponsi schemes.
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They think they are going to bring in Fed coin.
That’s horrible. A Federal Reserve digital will be used to track purchases, can be evaporated away anytime the government wants, and will be inflated wildly.
Awww he!! NO!!!
Then elimination of cash, then government has full access to all accounts and all transactions. Then government takes what it wants from your accounts and transactions. Then we’re communist without the name.
Here it comes...
Digital currency will bring about an phase out of physical cash. As soon as that happens there will be an expiration date on digital currency (Spend it or lose it).
They really want to force consumer spending as part of their ability to control the economy. The Fed can screw around with Reserve Requirements and interest rates... but by golly they would love to tell consumers “That $1000 you have in your bank account will be worth only $900 in 30 days.”
Right now if they did that people would withdraw cash.
“The US Federal Reserve begins looking into its own digital currency”
what for? it’s already got one: it’s called the “dollar” ...