I would contend that the idea to depreciate the value of cash vs. digital currency would backfire as cash would be in huge demand and trade at a premium
Bonus of spending in cash is added upside value prop of digging through the change for the elusive 90% (copper pennies too!) current strategy is spend minimum to keep tradelines open while moving as close as possible to 100% cash payments across the board. Good luck team!
Many people are willing to sacrifice privacy for “convenience” and are too myopic to understand what a world without cash would look like in the long run. It’s truly game over for any level of privacy and freedom in society. Everything will be tracked and I have no faith that any due process will exist when government wants to pull levers on citizens who will be like puppets.
Capital allocation will be altered but more importantly, CBDCs will enable tyranny through suppression of the people, with proper due process easily cast aside. Canada already crossed the Rubicon when it comes to cutting off bank accounts, with nothing we would recognize as "due process" in the United States, when it came to protests the government did not like. They simply shut off the bank accounts of an entire group - not of individuals convicted of crimes in a court of law. I've read that this "cannot happen" in the U.S., but Canada is supposedly a liberal democracy. At the time of this action, they still had access to physical cash. Probably that will not be the case a decade from now.
Spot on
I love how everything they want is always treated as inevitable progress and the only matter ever up for consideration is whether “it’s time.”
Your substack will be read in 100 years like the prophecies of Nostradamus.
"Truly frightening" is appropriate
Well there ARE a few things going on
1) Sen. Cruz introduced a bill about DBCS
2) Rep Emmer introduced one too
3) DeSantis has a proposal to "just say no"
At least, it seems SOME are willing to step up just wish there were more.
Check out qortal.org white paper
Call it what it is: digital slavery.
I try to be subtle.
I would contend that the idea to depreciate the value of cash vs. digital currency would backfire as cash would be in huge demand and trade at a premium
Bonus of spending in cash is added upside value prop of digging through the change for the elusive 90% (copper pennies too!) current strategy is spend minimum to keep tradelines open while moving as close as possible to 100% cash payments across the board. Good luck team!
Many people are willing to sacrifice privacy for “convenience” and are too myopic to understand what a world without cash would look like in the long run. It’s truly game over for any level of privacy and freedom in society. Everything will be tracked and I have no faith that any due process will exist when government wants to pull levers on citizens who will be like puppets.
Capital allocation will be altered but more importantly, CBDCs will enable tyranny through suppression of the people, with proper due process easily cast aside. Canada already crossed the Rubicon when it comes to cutting off bank accounts, with nothing we would recognize as "due process" in the United States, when it came to protests the government did not like. They simply shut off the bank accounts of an entire group - not of individuals convicted of crimes in a court of law. I've read that this "cannot happen" in the U.S., but Canada is supposedly a liberal democracy. At the time of this action, they still had access to physical cash. Probably that will not be the case a decade from now.
https://twitter.com/TorontoStar/status/1493353550394626048
Truly frightening.
I've been trying to warn about this for years.
With preface:
The Fed Proposes A 4th Function Of Money: Means Of Social Control
https://www.2ndsmartestguyintheworld.com/p/the-fed-proposes-a-4th-function-of
Awesome. You're up earlier than me :)
We need to wake people up to this threat.
been warning for quite some time; to wit:
How Technocommunism Will Institute The CBDC: The Central Bank Game Plan In Under 3 Minutes
https://www.2ndsmartestguyintheworld.com/p/how-technocommunism-will-institute
I really hope ths can be stopped. We need to strip central banks of power, not make them omnipotent.
Bravo!