Loading ...Digital Currency: The Fed Moves toward Monetary Totalitarianism
The Federal Reserve is sowing the seeds for its central bank digital currency (CBDC). It may seem that the purpose of a CBDC is to facilitate transactions and enhance economic activity, but CBDCs are mainly about more government control over individuals. If a CBDC were implemented, the central bank would have access to all transactions in addition to being capable of freezing accounts.
It may seem dystopian—something that only totalitarian governments would do—but there have been recent cases of asset freezing in Canada and Brazil. Moreover, a CBDC would give the government the power to determine how much a person can spend, establish expiration dates for deposits, and even penalize people who saved money.
The war on cash is also a reason why governments want to implement CBDCs. The end of cash would mean less privacy for individuals and would allow central banks to maintain a monetary policy of negative interest rates with greater ease (since individuals would be unable to withdraw money commercial banks to avoid losses).
https://mises.org/wire/digital-currency-fed-moves-toward-monetary-totalitarianism
ALL these articles IMPLY that WE collectively would agree to this .
We won’t !!
This is pie in the sky IMHO.
It’s obvious what “They” Want
But Not obvious at all that they get what they want
Soooo many roadblocks will be placed ….This will blow up in their faces
In this regard, I have faith in Americans. In Canadians and Europeans, not so much!
To explain, I think government digital money will be issued by all governments , but I don’t think Americans will allow cash to be outlawed. In fact, it may be the attempt to outlaw cash that will unleash the anger of the American public, and bring about the end of these pathetic totalitarian dreams.
You may be correct that the people don’t want this, but when in the last few years have the people not wanting something matter? Did the people want to be lockedown, forced to wear masks and be vaxed? Did the people in Canada want all the totalitarian things that the Turd and his minions force upon you? You can keep saying the people don’t want it but if the leaders put a CBDC in place there is little you can do. Yes, you don’t have to use it UNTIL you do, because they take away the cash. Even if you refuse to turn yours in you are just cutting off your nose to spite your face because after a certain date it won’t be accepted and merchants will be ordered to confiscate it if you show up with some, much like cutting up a fraudulent or expired credit card. I completely agree with your not wanting it, I don’t want it either and we have to impress on our legislators we don’t want the removal of cash, but when the time comes Biden or whoever is in the White House at that time, will just do an executive order and it will be a fait accompli. Much the way most of our rights have been taken away, illegally and unconstitutionally.
Well said CM!
They can stick it where the sun don’t shine.