Loading ...CBDC and the end of FIAT
To continue a bit to CM’s post yesterday, I agree with most that FIAT isn’t dead anytime soon. The closest it will get to “dying” is the transition to CBDC. But I think people are lost on what a CBDC actually is, in comparison to traditional FIAT. Simply, CBDC puts serial numbers back into transactions, which is what the banks and government lost when we slowly moved to digital dollars from hard cash dollars.
What does this really mean? It just means there are far better means for tracking “cashflows” and where “dollars” exist than they can today with the systems they cobbled together as the internet slowly evolved cash transactions to digital. They just see an opportunity to reset, in a way, how money is transacted and tracked, to how it is today.
None of this is me saying I am on board with this, I think this goes against all of the foundations of our westernized countries. BUT, I really don’t think there is a nefarious group behind the scenes orchestrating this big transition. There are likely several powerful people looking to sway policies and governance to suit their financial wealth, but not some closed door society.
Over the years in my line of work I have dealt with people high in federal government positions, and by no means are those, in those roles, masterminding anything, at all.
“dealt with people high in federal government positions, and by no means are those, in those roles, masterminding anything, at all.”
Absolutely correct.
Same at the Fed.
They are simply folks doing more or less what they are told, through channels.
I know, as I was there, at several of those positions, working with those at the still higher political levels (SES and above). Personally, I refused to cross that line despite invitations to do so. At the non political level, I was still permitted to call em as I saw em. I forced them to squirm if they wanted to bypass my conclusions. From SES on up, you were simply a mercenary at their behest.
Those running the show in reality, are names very few will ever know.
Thanks for your take Gus …and pedro
I tend to agree this CBDC thing is bad but not the end of our financial freedom as long as we keep an eye on them.. but the jury is still out and we must be vigilant.
pedro what is SES ?
SES is Senior Executive Service … ie, political appointees in practice.
No civil service protection for them. But conduits to “permanent” staff.
In Canada the SES is roughly equivalent to the ADM and DG levels as best as I think they can be lined up. Essentially the C-suite of the various federal departments if you think of the appointed ministers as Chairmen and/or CEOs.
Sir Gus your overall comments make sense and in of itself CBDC’s while threatening are only part of the dangerous equation. It is when you remove cash (alternatives for how one chooses to conduct transactions) that it becomes totalitarian. Without that alternative(or physical gold and silver in black markets) one loses all freedom of choice and protection from possibly being cancelled.
Fully – Completely agree, the jury is still out, and it remains to be seen exactly how they will be implemented with what controls and data storage on transactions. It worries me just how little the average person knows the potential ramifications of what they can do when implemented.
CM – 100%, if they are implemented with ability to track and/or decline use based on the point of sale type or location, that spells disaster for what little freedom we have left. The example that scares me is being turned down for a loaf of bread, because you already bought your allotted loaf of bread for the week…