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This is interesting
This article implies that the CBDC ( Central Bank Digital Currency ) which we all assume would do away with cash and render all of us at the mercy of Political “leaders” like the Canadian Turd will have cash like certificates circulating .
If so then what do we have to worry about ?
In fact the implication is these notes unlike Federal Reserve Notes in the US ( which are supposed to be backed by the full faith of the US Government …which is worth shit at the moment) will actually be backed by something more tangible
albeit a crypto digit created by the CB
This article claims this is similar to the old Treasury Bills which were backed by Gold.
Thoughts ?
https://www.coinworld.com/news/paper-money/cryptobills-could-become-alternative-currency
Thanks Joel…food for thought
Seems like a lot of double speak. Likely trojan horse to make people comfortable with CBDC’s. After a period of time they would fade away and you are left with just electronic accounts that are centrally controlled and can be turned off if you don’t comply.
They can’t get away with solo digital in a country with four hundred million guns – and thanks to the great and historic Justices Alito and Thomas – many of them will be carried.
What does guns have to do with it? You can not like it if they shut down your account. You can go and shoot someone over it and you will either get shot by the police or sent to jail. Guns may stop someone from coming into your house. They aren’t going to do anything to stop a CBDC from controlling people.
Why not gold or silver coins for offline transactions?
A penny (US/CDN) weighs about 5g. 5 grams of silver right now is about $3.50 USD or $4.50 CDN.
Or nickel coins. In fact, at current prices, a Uranium “penny” would be worth about 50 cents US. That would work, too. Especially if we all had home nuclear reactors.
But seriously, Crypto for anywhere electronic web connected transactions are possible and precious metal coins as an independent non-digital system for whatever else might be needed (like buying stolen goods!).
The answer to sound money problems has already been answered: precious metals. Cryptos are just a digital version that allows for digital exchange and instant world-wide transfer in any amount. The crypto bills are just the old fiat, debt-coupons.
Crypto makes banks and any other middle man (ie. govt) unnecessary and can be held in a digital token. Real coin money can do the same thing. Both have inherent value which is independent of any other authority.