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.
It’s all about the tracking and control.
Past-due child support? All access to funds blocked
IRS? All access to funds blocked
Bank garnishment by creditors? All access to funds blocked
Conservative? All access to funds blocked
I suppose digital currency is “modern”, or even “post modern”. Absolutely a fiat currency, it makes the problem of confiscation of one’s entire net value as simple as a keyboard stroke, or even to plunge any person into complete penury upon the whim of any tyrant or just plain thief who has the necessary means to access individual accounts. But this is already possible using the credit card system we currently have, which has been an imminently vulnerable asset subject to attack. It just goes to a higher level.
“The terrible part about this (among many!) is that the new currency will just be another inflationary coin too.”
Amen! And it will cost the power to transfer it each time it changes computers. Hands not required. But it will save printing checks and will be instant determination of lack of funds in the account if you can afford the debit card.
wy69