Loading ...CBDC questions
I too believe this is coming and for ordinary people there wont be a way out for everyday transactions. While I have G & S it cannot be used at Safeway so I guess they convert your bank accounts? I read a lot of newsletters and their recommendation, like buying property in Argentina or buying numinastic coins is either not feasible or you cannot use numinastic coins for everyday stuff and if you sell them – what do you get – cash? CBDCs? What are people doing to prepare? Of course I am getting ready to retire so this sucks…Thanks for any input. GLG
You are correct about no way out for everyday transactions. You will use your CBDC account for food, gas etc. etc. But as some writers have pointed out if they want to force people to buy electric vehicles they could prevent you from buying gas. Or maybe at first they limit the amount of gas per month. If they want to limit or end the purchase of beef they could quota the amount of beef or prevent it altogether. Again, it is all about control and mandatory compliance of whatever they want you to do. Where gold and silver comes in is that blackmarkets for anything and everything you might want, beef, alcohol, ivermectin, etc. you can buy in underground black markets but only if you have physical gold and silver.
So true, I have spent a lot of time in communist Cuba. 80% of their economy is now cash basis only. A bank account is like having an auditor watching every thing you do.
Just an example, my friend Sergei has a Peugeot with a modified diesel engine in it from a tractor. The car was rolled by hurricane Sandy and poorly rebuilt; and, while I was there someone offered to buy his car from him for the equivalent of 14 thousand US, cash.
What all they are doing to us will bring a very bad future.
Well there you go Alki…Even in Communist Cuba they can’t and won’t ban cash !
If they could they would…thats what communists do
Thank you – what a friggin nightmare – is there any way to stop it – big Red win in the Fall?
As I commented in a post below, December seems correct for introduction as they won’t introduce before the election and they have to do it before the new Congress gets sworn in in January. The only hope is a Republican Congress tries to stop it or slow down introduction. The one thing that can neuter a CBDC is if the new Congress stops a removal of cash. If the existing cash is allowed to stay in circulation and Trump or Desantis get elected in 2024 there is hope that most of this Biden/Dem agenda gets rolled back.
IMHO…NOWAY this is remotely ready
They just started to begin to asses this recently
China has been developing this for years and still only implemented as a pilot.
Rickards is a fear mongerer IMO. Nothing he has ever said has happened.
He holds himself to be some sort of insider.
They will NOT just ban cash out of the Blue .
The pushback would be Monumental
People would NOT comply…The Mainstream Economy would disappear
This would be a nightmare to try to implement.
Barter would make a comeback. Local Currencies would flourish. Innovations you cannot even think of .
They may start by making a pilot program voluntarily and coerce it’s use with UBI for those who are willing to sell their soul
BUT there will be a parallel system for eons IMO
Get a grip everyone
What the F**K…do you think they will now do away with the banking System in 4 months ?
CBDC means NO Banks …except for administrative purposes perhaps !
What do you think the various Mafias would think of this ?
There would be a lot of High lever “Masters” murdered IMO
Not to mention Hackers destroying the system by hitting it constantly
Recently we had Rogers Communications down here for a day and it was CHAOS
Cash ONLY
How naive do you have to be to believe this BULLSHIT.
sheesh
No period of study or introduction is necessary. You either implement it or you don’t. China will but they will do it when it makes sense for them. It has been ready to go for years. It is when they want to do it. I bet your response would have been the same if someone told you about Covid months or years before. What about Trudope and the Emergency powers and what happened with the Truckers and bank accounts. Once again, my friend, you are naive if you think this can’t happen just because it is so outrageous and you don’t want it to happen. I don’t either, but it is reality.Did you think they could flip the election by stopping the count and hours later say the other guy won? Nothing that has happened in the last three years was conceivable before it happened. This is just the next step in their plan.
We agree to disagree
How come only One Guy…Rickerds knows about this launch date ?
I am not saying there won’t be CBDCs…But it won’t happen this fast and it won’t be all IN for everybody right NOW and cash will NOT be Banned on Dec 13 2022
Wanna Bet >?
$1,000 US Cash only in the mail !!!
There will be a parallel economy. Organized crime and the Gangs like their cash only transactions for starters.
They are not about to disappear just because the CBDCs come in.
Something this radical will need a test. A region or some “volunteers” to try it out. May take years to work out the bugs.
In the interim, if the WEF types keep telling us about eating bugs, only driving electric vehicles and other implausible concepts, too many people will protest. If their CBDC tries to force the population into their view of what we can do and buy, they could be in for a rude awakening.
Heavy equipment could not run on electric unless tethered to a supply source. Not likely to happen. Diesel and gas pack more energy per equal volume. We will need to mine vast quantities of these metals. We are years away from a switchover to electric. The inadequate power grid is a huge obstacle in itself.
Try telling people they can’t eat meat. How is that going to go over?
Try telling people they can’t fly to visit family. Some of the most committed Branchies that I know, are the worst offenders of consuming Carbon based fuels. They fly all over and eat whatever they want. No bugs for them. I can see a huge pushback from this crowd. They are hypocrites.
After seeing that the Vax Passport was a punishment method, I believe most will realize the potential for abuse with CBDCs. It’s all about control using carbon credits and punishment. They don’t care about the Climate.
Oh, they will try it.
Agree Columbia
With Covid the cretins had a large willing scared part of the populace …with banning cash and controlling everyone’s accounts…they have maybe 10% support ( welfare recipients)
None of my thoughts or comments has anything to do with Rickards. I don’t read or follow him. I am not betting on timing but December makes sense for the reasons I stated in my comments. There are a lot more reasons why it should be sooner rather than later. I hope it gets delayed and the new Congress can stop it but I won’t be surprised if they try to roll it out in December.
If I were the one in charge of implementing this (even though I am against it) I would introduce the CBDC in December. Let people get used to using it and slowly remove cash over time. We have heard reports over the years of getting rid of $100 bills with the excuse to stop money laundering and drug dealers etc. That could be the second step some months later. Then, at some futher point down the road you eliminate cash. They may even give people plenty of warning as to a future date that the currency needs to be turned in for CBDC dollars credited to your account. They can make it innoculous to minimize fear and maximize compliance.
Can’t use your paper 20 or 50 pound notes in the UK after 9/30 – new ones are polymer and I’m sure chipped…
I dont see how they can track individuals with chipped bills
Our bills in Canada have been “chipped” for years
It’s just for preventing counterfeits
If they have an RFID chip (I don’t know if they do or not) they can track using GPS like a cell phone.
I could get one from a friend – how can we find out if its RFID?
I guess the Brits are not getting rid of their cash – paper or polymer, anytime soon otherwise why go through this hassle…