"Federal Reserve Digital Dollar"... is this a bad idea?

Just what we NEED. The feds sticking their nose further into our daily lives, I guess the 30thousand IRS agents they plan on hiring isn't enough.
Semper Fi

 

Log in or Sign up to hide this ad.

My wife and I have been using our VISA card for any and all purchases. I finally got my wife to use her VISA and now she goes great guns. I wonder if she thinks it's not real money. Luckily, I can look at my bank accounts each morning to make sure there isn't some idiot trying to take control of our accounts. We bank with our State Employees Credit Union and there are great deals with them. As long as we pay our balances each month we don't have to pay interest. So far, we are out of debt and don't buy any large ticket items (or at least she doesn't know the gold that I bought. The state hasn't given us a COL for several years. This year, they have gotten a new way of giving us a break. This month, they are giving us 2% of our annual retirement. They will probably get it back with their Hospitalization plan.

 

There'll always be ways and means and a little cash for the favored and useful, but run-of-the-mill stiffs will have little if any contact with any other mode of exchange than their handy dandy vaccine passport/electronic banking ID cards.
To make the transition friendly and smooth, we'll be called upon to help build our own prison, a little at a time, when we say: "Sure, if it helps to make us all safer, and eliminates corruption, I'll sure let them turn my vaccine record card into an electronic, chip-enabled Passport that lets me go nearly almost anywhere, that I can use for solid ID when I get stopped at a security checkpoint and that I can use as a way to conveniently and securely pay for my groceries at the foodstore, or when I want to buy a lottery ticket or check my bank account! Gosh, it'll even tell me exactly how much I owe the Post Office, if I underestimated the amount I had to pay for postage when I sold something on eBay, and exactly how much sales tax they debited from my bank account!"* When we smile and nod when they tell us that a pilot program will be run in our sweet, little town of New Scuba, NM, to evaluate the feasibility of going cashless, town-wide during the upcoming holiday season, we'll be holding the cell bars in place for them, so they can be welded up, nice and straight.
Having the means to use the threat of revoking or suspending ones' "banking privileges" in a strictly digital, no-cash economy will be a huge societal enforcement tool envisioned and coveted by those who wish to be in charge (not necessarily elected) in our not-too-distant future. When this aim is realized, they will have gained the threshold of securing a compliant society where they get to call off all the elections and re-write all of our rules. But first they must do away with each individual's personal financial liquidity and privacy, which means they'll need to find some way to separate us permanently from our cash.
Job One for us: Squeal like stuck pigs, and raise bloody hell at the first and most insignificant sign of this most portentous, ominous and most dangerous event; no matter how sweetened with aspartame and coated with vaseline it may appear!!
Refuse to do business with any son-of-a-bitch who won't accept your cash and make it as plain as day to him. "If you won't take my cash, by Thunder, I'll do business with someone who will!!", and make your actions correspond to your cusswords! If he's got a smidgin of sense, he won't be able to tolerate the sight of his traffic and custom's backsides, heading for the door.
Their show will only succeed if we file in and sit in the seats they've designated for us.

* It'll also tell you when you have to report to your nearest Drug Fair and roll up your sleeve for your mandatory nineteenth booster shot, but that's a rant for some other time; we're talking about more serious stuff here.

Forgive me, if I have foamed at the mouth some and taken up your time. I truly love my current state of threadbare freedom, where I can be whatever sort of fool or ass hat I choose. I am scared sh--less, for what kind of world my kid will inherit, because there could be no freedom in it, at all.

 

You wanna tell us how you really feel?

 

I've made you feel a little uncomfortable, sport? Ideas have a way of doing just that. Instead of sarcastic pushback, which is available from any pimply, thirteen y.o. kid, what reaction do you have to one day possibly waking up to discover they've changed the deal without having consulted you first?

 

Not me.

 

Right. Sleep on it.

 

It's kind of sad how widespread the distrust of our governmental and societal institutions has spread in American society. Historically we do see high levels of distrust when wealth and income inequality hit Gilded Age levels, as they have now, but anyway, I don't have any current interest in digital currencies, but one of my adult kids has a lot of profits on paper (hah, "on paper") in them. I stay out of it, lol, for me my 401(k) is where I invest, and I have a small brokerage account for speculating on stocks - I am interested in solar, battery technology, software services and pharmaceuticals. Coins are a cheap hobby I can share with my son (for me), I don't know how you guys in the business do it - I really admire that.

I think it makes sense that the US Government (and probably other nations) would want to provide an option in the digital currency realm, and if I was interested, that would be the one I'd go with (if and when it exists), as it's backed by us US taxpayers, rather than just faith in intangibles, but again, I haven't researched digital currencies, so I don't have an informed opinion. I just find it all kind of interesting.

 

Making it a digital dollar defeats the entire purpose of the crytos your son has invested in. A crypto from the government would likely be mediocre at best. The whole point is to be in something that isnt tied to the inflation of a government currency. A digital dollar doesnt make much sense since we have them already its called debit and credit cards. Eventually cash will be phased out, itll be several generations at least though before that does happen but until then the cashless stuff that gets kicked around is way overblown