The main plot point of the TV series "Burn Notice" was the control the government was able to exercise over a target, who even had intel tradecraft, when the were able to seize their assets, access to credit, etc.
On Sun, Jan 30, 2022, 9:56 AM grarpamp <[email protected]> wrote: > War On Cash: The Digital Dollar > > https://schiffgold.com/key-gold-news/war-on-cash-the-digital-dollar/ > https://mises.org/wire/dangers-lurking-behind-digital-euro > https://www.federalreserve.gov/newsevents/pressreleases/other20220120a.htm > > https://schiffgold.com/guest-commentaries/why-should-we-care-about-negative-interest-rates/ > > https://schiffgold.com/key-gold-news/creepy-imf-paper-teaches-governments-wage-war-cash/ > > Last week, the Federal Reserve released a “discussion paper” examing > the pros and cons of a potential US central bank digital dollar. > According to the Federal Reserve press release, the central bank hopes > to get public feedback on the idea. > > “We look forward to engaging with the public, elected > representatives, and a broad range of stakeholders as we examine the > positives and negatives of a central bank digital currency in the > United States,” Federal Reserve Chair Jerome H. Powell said. > > Government-issued digital currencies are sold on their promise of > convenience and security. But there is a darker side – the promise of > control. > > Digital dollars would be similar to bitcoin and other > cryptocurrencies. They would exist as virtual banknotes or coins held > in a digital wallet on your computer or smartphone. The difference > between a government digital currency and bitcoin is the value of the > digital currency is backed and controlled by the state, just like > traditional fiat currency. > > The digital dollar could ultimately replace physical cash. Proponents > tout its convenience and security. A Business Insider article gushed > over the idea. > > A Fed-backed digital dollar would then provide many of the > benefits touted by cryptocurrencies without their wild price swings > and usage fees. In theory, a CBDC would meld the best aspects of > physical and digital currencies for the average American.” > > Last year, China launched a digital yuan pilot program. The Chinese > government-backed digital currency got a boost when the country’s > biggest online retailer announced the first virtual platform to accept > the Chinese digital currency. China isn’t the only government > exploring the possibility of digital money. Sweden has developed a > digital currency of its own. The European Central Bank is pushing for > a digital euro. And Russian central bank governor Elvira Nabiullina > told CNBC that digital currency is “the future of our financial > system.” > > Ultimately, it would take a congressional act to establish a digital > dollar as legal tender. > > US officials toyed with the possibility of a digital dollar at the > height of the pandemic. A Democratic proposal for stimulus payments in > the wake of the coronavirus pandemic featured digital currency > deposited into digital wallets. > > Government digital currency is sold to the public as a safe and > convenient alternative to physical cash. We’re also told it will help > stop dangerous criminals who like the intractability of cash. > > But at the root of the move toward government digital currency is “the > war on cash.” Fundamentally, it’s about control. > > The elimination of cash creates the potential for the government to > track and even control consumer spending, and it would make it even > easier for central banks to engage in manipulative monetary policy > such as negative interest rates. > > Imagine if there was no cash. It would be impossible to hide even the > smallest transaction from government eyes. Something as simple as your > morning trip to Starbucks wouldn’t be a secret from government > officials. As Bloomberg put it in an article published when China > launched its digital yuan pilot program, digital currency “offers > China’s authorities a degree of control never possible with physical > money.” > > The government could even “turn off” an individual’s ability to make > purchases. Bloomberg describes just how much control a digital > currency could give Chinese officials. > > The PBOC has also indicated that it could put limits on the sizes > of some transactions, or even require an appointment to make large > ones. Some observers wonder whether payments could be linked to the > emerging social-credit system, wherein citizens with exemplary > behavior are ‘whitelisted’ for privileges, while those with criminal > and other infractions find themselves left out. ‘China’s goal is not > to make payments more convenient but to replace cash, so it can keep > closer tabs on people than it already does,’ argues Aaron Brown, a > crypto investor who writes for Bloomberg Opinion.” > > Economist Thorsten Polleit outlined the potential for Big Brother-like > government control with the advent of a digital euro in an article > published by the Mises Wire. As he put it, “the path to becoming a > surveillance state regime will accelerate considerably” if and when a > digital currency is issued. > > Governments around the world have quietly waged a war on cash for > years. Back in 2017, the IMF published a creepy paper offering > governments suggestions on how to move toward a cashless society even > in the face of strong public opposition. > > As with most things the government does, you should be wary of the > digital dollar. It has a dark side you can be sure the mainstream will > mostly ignore. >
