Who died and made them Mammon?!
Let's guess:
1. By law?
2. By behind the scenes regulations?
3. By collusion with banks and business leaders?
4. All of the above?
Like everything else government does, it starts small and innocuous, with a sweet-sounding name. I don’t care who’s the president. This will happen no matter who’s president.
In 2 years it becomes accepted at all federal agencies.
In 2.1 years it’s used for EBT cards.
In 2.5 years it’s accepted at all state agencies.
In 3 years it’s accepted at Starbucks.
In 5 years it’s accepted at most businesses.
In 6 years your pay is in Fedcoin.
In 6.5 years, your taxes must be paid in Fedcoin.
In 10 years, it becomes mandatory for all transactions, except those of the ruling elite, with penalties ranging from life in prison to death for use of cash.
In 10.005 years everyone finds out that the government has been monitoring all transactions, and will use the information to determine what your salary and taxes will be. They will just take the taxes out of your money. No need to file a tax return. Convenient, eh?
Only usable inside the United States. That’s exactly the way it was with the old Russian ruble non-convertible outside the USSR.
Any questions who the bad guys are these days here in the USSA?
It’s unconstitutional. The constitution only gives the federal government the power to coin money (not to make coins). And the states are prohibited from making anything but gold or silver legal tender (i.e. money).
Our government has been ignoring this constitutional mandate for far too many decades, and now we see the result.
Time for Americans to oppose government using cyber cash (and paper) in place of actual money.
I realize that returning to a gold or silver standard will create huge problems — but nothing like the problems we will face if US government created cyber money becomes the only legal tender.
Cheaper to (not) print, no government controls, automating the Mint eliminating jobs, currency control, trace every dollar in and out, eliminated money laundering, diminish tax cheating except for bartering, etc. Eventually , no dual currency.
How do I buy a “Proof Electron”?
Fedcoin is not a good idea.
Unless someone wants to control all aspects of your life.
5.56mm
Because the dollar isn't yet phoney enough and prone to as much manipulation as they would like.
Is this their response to Bitcoin???
Why does our government need a crypto currency, if they already have regular currency, if I can is that term??
As so many of us do online banking and transfer funds, using debit cards and electronic transfer, why is the government seeing a need for a crypto currency?? Isn’t the whole point of Bitcoin that it is outside the control of any governmental control???
:)
Ping.
No drug money, no money for hostile regimes, no money laundering, oh no!
The whole point of blockchain currencies is they can’t be manipulated or confiscated by a government.
This currency would be designed to make sure the government could manipulate/confiscate it.
No sale.
Got FedCoin?
"Federal Reserve to Launch Its Own E-currency: Fedcoin"
FR: Never Accept the Premise of Your Opponent’s Argument
Noting that Pres. Trump favors the gold standard, please consider the following.
Trump Favors Returning To The Gold Standard
Regardless what the Federal Reserve wants, unconstitutional Fedcoin in this example, not only does Pres. Trump favor returning to the gold standard, but consider the following concerning the constitutionally undefined Federal Reserve.
Let's start by considering that Thomas Jefferson had noted that the state delegates to the Constitutional Convention had decided not to give the feds the specific power to regulate banking. So regardless that the Federal Reserve is argued to be a private entity, it remains that Pres. Wilson wrongly ignored state sovereignty by signing the Federal Reserve Act into law imo.
“A proposition was made to them to authorize Congress to open canals, and an amendatory one to empower them to incorporate. But the whole was rejected, and one of the reasons for rejection urged in debate was, that then they would have a power to erect a bank, which would render the great cities, where there were prejudices and jealousies on the subject, adverse to the reception of the Constitution [emphasis added].” —Jefferson’s Opinion on the Constitutionality of a National Bank : 1791.
Next, when socialist FDR confiscated gold with unconstitutional (imo) Executive Order 6102, he wrongly ignored that the Founding States had decided that the states would use only gold and silver coin as legal tender.
"Article I, Section 10, Clause 1: No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts [emphasis added]; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
Finally, consider that the Founding States make the first numbered clauses in the Constitution, Sections 1-3 of Article I, evidently a good place to hide these clauses from Congress (sarc), to clarify that all federal legislative powers are vested in the elected members of Congress, not in the executive or judicial branches, or in the non-elected “private” entities running the constitutionally undefined Federal Reserve.
So it can be argued that the Reserve is just another way for career lawmakers to protect their voting records where Congress's constitutional Article I, Section 8, Clause 5 power to regulate the value of coin money is concerned imo.
"Article I, Section 8, Clause 5: To coin Money, regulate the Value thereof [emphasis added], and of foreign Coin, and fix the Standard of Weights and Measures;"
Corrections, insights welcome.
Changing the emphasis of this thread to gold standard-supporting Pres. Trump, consider that although Trump is accomplishing a LOT as president, it remains that since the state sovereignty-ignoring Congress wants to get rid of him that his first two years in office are arguably for practice. That being said ...
Drain the swamp sewer! Drain the sewer!
Remember in November 2018 !
Since corrupt Congress is the biggest part of the sewer (imo) that Trump wants to drain, it is actually up to us patriots to drain the sewer in the 2018 elections, patriots supporting Trump by electing as many new members of Congress as they can who will support Trump.
In the meanwhile, patriots need to make sure that there are plenty of Trump-supporting candidates on the primary ballots.
Patriots need to qualify candidates by asking them why the Founding States made the Constitution’s Section 8 of Article I; to limit (cripple) the federal government’s powers.
Patriots also need to make sure that candidates are knowledgeable of the Supreme Court's clarifications of the federal government’s limited powers listed here.
“Congress is not empowered to tax for those purposes which are within the exclusive province of the States.” Justice John Marshall, Gibbons v. Ogden, 1824.
"State inspection laws, health laws, and laws for regulating the internal commerce of a State, and those which respect turnpike roads, ferries, &c. are not within the power granted to Congress [emphases added]." —Gibbons v. Ogden, 1824.
”From the accepted doctrine that the United States is a government of delegated powers, it follows that those not expressly granted, or reasonably to be implied from such as are conferred, are reserved to the states, or to the people. To forestall any suggestion to the contrary, the Tenth Amendment was adopted. The same proposition, otherwise stated, is that powers not granted are prohibited [emphasis added].” —United States v. Butler, 1936.
Also, unlike career members of Congress who wrongly remained silent while misguided state officials abridged the constitutionally enumerated rights of citizens during the lawless Obama Administration, patriots need to make sure that candidates on the 2018 primary ballots commit to the following.
Candidates need to commit to making and enforcing 14th Amendment-related laws to prosecute misguided state officials who use state powers to abridge constitutionally enumerated protections, 1st Amendment-protected religious expression and free speech for example, such actions prohibited by Section 1 of the 14th Amendment.
”14th Amendment, Section 1: All persons born or naturalized in the United States and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside. No State shall make or enforce any law which shall abridge the privileges or immunities of citizens of the United States [emphasis added]; nor shall any State deprive any person of life, liberty, or property, without due process of law; nor deny to any person within its jurisdiction the equal protection of the laws.”
Again, drain the sewer! Drain the sewer!
Oh goodie. This will surely turn out well.
Now they don’t even have to use paper and ink to create trillions in worthless fiat. Just a few electrons.
Well, at least it will save on bearing replacement on the presses that have been running overtime for the last 20 (+) years
http://www.nasdaq.com/article/fedcoin-could-replace-the-dollar-as-we-know-it-cm774260
Reputable discussion on concept
Government crypto-currency is an oxymoron. The whole point of cryptocurrency is privacy from the government.
I had to check to see if this was dated April 1 or not. Lol.