Posted on 01/21/2022 9:12:45 AM PST by EBH
A digital currency run by the Federal Reserve. So much for privacy. Every transaction will be monitored, and this will end the dollar as the reserve currency.
https://reason.com/2021/06/10/the-feds-digital-dollar-would-be-nightmareville-for-privacy/
“The Reserve and the Treasury announced today a devaluation of the currency by 10% to take place immediately. The accounts Swamp Denizens and Friends will not be affected by this move.”
No.
First they create a digital currency. They they invalidate cash. Then they go into your accounts and take what they want.
Plus, we’ll have the added benefits of them just being able to help themselves to tax increases right out of your account. And we’ll be protected because, for example, if the government determines that some group you want to give money to engages in “misinformation” or “hate,” they’ll just block them from receiving dontations, and you from giving them money. Sounds great! What could go wrong
That changes nothing about what I said. What can it do that we can’t already do with our existing currency scheme? its about reducing the independence of the common person. Its about the government taking as much as possible out of every single transaction, even those between individuals.
Its about LESS freedom, not MORE.
Recently, I bought a steer and had it slaughtered to fill my freezer. I bought it with cash (which i paid income tax on) from my neighbor, who raised the steer in part on grass that was harvested from my property. The government has NO business being in the middle of this transaction, yet they certainly want to be so they can take their share.
This is the behavior of the mafia. Their cut.
Digital currency, even as “complimentary” or co-existing is a step in the direction where you cannot avoid being forced into paying that cut. In no way, shape, or form, should this be allowed.
“dollar-linked stablecoins”
A non-sequitur.
A “coin” attached to a fiat dollar that is being inflated into oblivion... and that supposedly makes it “stable”. Retarded.
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And most of all, that it is not centrally controlled. This is going to be blended to your social credit score and they will be able to turn your money off and on at a whim. They can skim a percentage of your money away when they think inflation is happening. It will support different price structures for different races by varying your money’s value.
This is slavery.
He was kind of a wack job but McAfee warned that it would be the end of the benefits of crypto currency when governments got involved.
A huge step in controlling and monitoring ever move Americans make. Just like their Covid passports people will soon have to have a special ID to make any financial transaction. Possibly the mark of the beast.
Please add me to the Crypto Ping List. Thank you.
y’all go ahead and play with your electronic bitbucket stuff, i’ll stay with the stuff you can hear go clink!
CBDC Benefits, Risks, and Policy Considerations
Enter your comments below (5,000 character maximum per question):
1. What additional potential benefits, policy considerations, or risks of a CBDC may exist that have not been raised in this paper?
2. Could some or all of the potential benefits of a CBDC be better achieved in a different way?
3. Could a CBDC affect financial inclusion? Would the net effect be positive or negative for inclusion?
4. How might a U.S. CBDC affect the Federal Reserve’s ability to effectively implement monetary policy in the pursuit of its maximum-employment and price-stability goals?
5. How could a CBDC affect financial stability? Would the net effect be positive or negative for stability?
6. Could a CBDC adversely affect the financial sector? How might a CBDC affect the financial sector differently from stablecoins or other nonbank money?
7. What tools could be considered to mitigate any adverse impact of CBDC on the financial sector? Would some of these tools diminish the potential benefits of a CBDC?
8. If cash usage declines, is it important to preserve the general public’s access to a form of central bank money that can be used widely for payments?
9. How might domestic and cross-border digital payments evolve in the absence of a U.S. CBDC?
10. How should decisions by other large economy nations to issue CBDCs influence the decision whether the United States should do so?
11. Are there additional ways to manage potential risks associated with CBDC that were not raised in this paper?
12. How could a CBDC provide privacy to consumers without providing complete anonymity and facilitating illicit financial activity?
13. How could a CBDC be designed to foster operational and cyber resiliency? What operational or cyber risks might be unavoidable?
14. Should a CBDC be legal tender?
CBDC Design
15. Should a CBDC pay interest? If so, why and how? If not, why not?
16. Should the amount of CBDC held by a single end-user be subject to quantity limits?
17. What types of firms should serve as intermediaries for CBDC? What should be the role and regulatory structure for these intermediaries?
18. Should a CBDC have “offline” capabilities? If so, how might that be achieved?
19. Should a CBDC be designed to maximize ease of use and acceptance at the point of sale? If so, how?
20. How could a CBDC be designed to achieve transferability across multiple payment platforms? Would new technology or technical standards be needed?
21. How might future technological innovations affect design and policy choices related to CBDC?
22. Are there additional design principles that should be considered? Are there tradeoffs around any of the identified design principles, especially in trying to achieve the potential benefits of a CBDC?
If it’s on a computer it can be hacked, and will be.
It won’t be secure.
Memo to: THE FED
Take it, shove it down your pie hole; shove it up your lyin’ posterior; or burn it. You’ve NOT done such a whamO job on the current mandate, why should any of WTP expect you to do an even better job on the next? You, the entire criminal gang, deserve to be behind bars, talking to no one and expecting no one to talk to you. You’ll find NO SYMPATHY from this direction. Suck it up and here’s hoping you choke on it.
Never again will this citizen be conned as you have done for the last 70 years. You are not to be trusted say those that know your agenda.
Simple, if the Biden Admin is in favor of it, that’s a good indicator that I am probably against it.
Life, liberty, and the pursuit of happiness....
You're so right! We just never learn do we?
From reading history in 1913 the U.S. Government instituted what was supposed to be a temporary tax called an "Income Tax"... which was designed to simply HELP PAY for the cost of World War One.
Americans were told, "Don't worry".. it would "Go Away" 2 or 3 years after it was initiated.
It's now 108 years later and "what could go wrong?".. did go VERY WRONG.
ANYTHING the Government enters into 99% of the time will NOT benefit the American taxpayer.. you can bet on that.
Done!
A CBDC is FascistCoin. We absolutely do not want it.
Any and all efforts to get away from paper money must be fought. We don’t want the government being able to track our every purchase. We do not want the government to be able to inflate the currency at nothing more than a keystroke.....or simply turn off your money until you obey like a good little slave.
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