VIDEO What is your plan for the Digital Dollar?

Samuel Adams

Samuel Adams

Has No Life - Lives on TB
Literally ?


Leave me alone on my humble spread and we’ll call it even.


Try to force me in any fashion to partake of their imposition and there will be a different set of rules.

Nothing in the constitution or my Bible about being inherently subject to the trappings of space age commerce….especially if you read the fine print.
 
West

West

Senior
Some states have recently added state laws to recognize minted gold and silver as legal tender.

States Where Gold and Silver Have Become Legal Tender | Investor Education

An encouraging victory for sound money has just taken place in West Virginia where they have now. . . .Anthony Allen Anderson
www.mintstategold.com www.mintstategold.com

Interesting piece...
diannemarshallreport.com

STATES MAKING THEIR OWN LEGAL TENDER - SILVER AND GOLD THE NEW STANDARD! - The Marshall Report

Can states make and distribute their own form of currency? Yes. As long as it is in silver and gold!
diannemarshallreport.com diannemarshallreport.com
 
Raggedyman

Raggedyman

Res ipsa loquitur
I'm recalling that I once had an investment or two that the IRS deemed had produced for me this magical thing known as . . . "PHANTOM INCOME" . . . despite the fact that I had realized no ACTUAL RETURN on the investment(s), through some form of legalistic IRS mumbo jumbo I was deemed responsible for additional income tax. when I offered to pay them with PHANTOM FRNS they didn't appreciate my humor.

I can imagine we're all about to get bent over . . . AGAIN . . . as per usual - do NOT expect to be kissed first. word is there will be NO FOREPLAY
 
packyderms_wife

packyderms_wife

Neither here nor there.
West said:
Some states have recently added state laws to recognize minted gold and silver as legal tender.

States Where Gold and Silver Have Become Legal Tender | Investor Education

An encouraging victory for sound money has just taken place in West Virginia where they have now. . . .Anthony Allen Anderson
www.mintstategold.com www.mintstategold.com

Interesting piece...
diannemarshallreport.com

STATES MAKING THEIR OWN LEGAL TENDER - SILVER AND GOLD THE NEW STANDARD! - The Marshall Report

Can states make and distribute their own form of currency? Yes. As long as it is in silver and gold!
diannemarshallreport.com diannemarshallreport.com
Click to expand...

Cool, now whatcha gonna do about the idiots who don't know what silver or gold is, let alone how to count back change!
 
TammyinWI

TammyinWI

Talk is cheap
Nope, this is something we do not want. Money has to stay, and I believe that these delusional thieves will not get thier way. There will be too much pushback on so many levels.

They don't get to pick and tell us what to do and control us in that way. Dang diabolical evil control killer freaks.

Yes, I am p.o.ed at the prospect, couldn't tell, huh?
 
packyderms_wife

packyderms_wife

Neither here nor there.
West said:
It's going to be like the school of hard knocks, for many.
Click to expand...

The youngsters and desperate parents will embrace the digital currency with open arms, it's us gen Xers and older that will suffer the most. When I try to explain a social credit score to anyone over 50 their eyes just glaze over, and it doesn't matter which side of the political fence they sit on, and yet it's coming!
 
FNFAL1958

FNFAL1958

Senior Member
We are already well into a Digital money system, there is far more digital money created than paper money. My Social Security is Digitally added to my Checking account each month, and I pay my bills with my cell phone using that same digital money, we are far closer than most want to believe.

And to those that say they won't play, please by all means tell me how you plan on getting by without money
 
Great Northwet

Great Northwet

Veteran Member
A digital currency-like Bitcoin-where every transaction is recorded on a blockchain like system keeps honest people honest. It's creation discourages the implementation or continuation of black/gray markets and bartering, yet actually will foster their creation and continuation because people want not to be hindered by .gov or any other force.

The more they try to regulate and pry, the worse it will get-Capitalism wins every time-It's human nature to want to profit!

Carl Marx said in his book "Das Capital" that capitalism kills competition because it creates monopolies. He was wrong. Capitalism spurs competition because somebody always finds a better way to make a profit in the long run. BTW, Marx was a 1%er the son of wealthy parents.

IMHO, this will be all about control. If you let yourself be controlled, you will. Yet many-especially in the USA will not be controlled-this is the same kind of sh*t that led to a confrontation on a bridge in 1775.
 
BassMan

BassMan

Veteran Member
I think its a great idea!
  • It is programable, with a finite lifetime possible, so I am inspired to spend it!
  • Its value can be tied to my ESG score, so I'll want to be even MORE woke!
  • It can be turned off if I get on the "naughty list", so I will be inspired to be a better person!
Me sarcastic?! Naaa....
 
West

West

Senior
D

Dozdoats

On TB every waking moment
Interesting - thanks for posting.

Spent the afternoon doing bank stuff at my mom's behest. The CBDC stuff finally registered with her ...
 
Sammy55

Sammy55

Veteran Member
db cooper said:
Digital currency is just not on my top 10 list of things to worry about.
Click to expand...
I'm inclined to agree with you. I think that there will be a massive event (or several) that will have to take place first before people will "willingly" give up their paper money and coins for digital dollars. There is too much distrust of the g o v right now among many/most people. There would need to be a massive event that would either wipe out everyone's fears of the g o v as they deal with the fear of whatever the event(s) would be. And it is these "events" that we should be worried about first, if we are worried about them.

Me? I'm not too worried. Well...yes, I am, in a way. But I know that God will be with me every step, every minute, and He will give me the guidance, strength, hope and help to get through whatever is coming.

That said...whatever the event(s) are, I'm sure they will be planted, fostered, facilitated, managed, directed, used, taken advantage. Never let a good crisis go to waste, and all that rot.
 
von Koehler

von Koehler

Has No Life - Lives on TB
Cash will still have some value, even if cancelled.

One of the main advantages of the US dollar is that it has never been previously cancelled or declared obsolete. This is a very common practice in most of the rest of the world. The authorities announce that the existing currency will become worthless after a certain date, to force cash holders to publicly reveal their holdings, pay taxes, and accept a new currency. The US dollar is popular for this reason. About 70 percent of US dollars are held overseas. The $100 bill is the most important.

Americans recognize the US dollar and it is widely used. A black market will quickly spring up for the underground economy if .fedgov tried to eliminate it. Cash hedges against digital or electrical breakdowns or if banks suddenly close down. If you own silver or gold, it would be best to use and get rid of paper cash first. Their are very few actual physical cash dollars in domestic circulation right now. So my guess is that they would have some scarcity value, at least in the beginning.

Next step would be the growing acceptance of goods for barter. Booze, cigarettes, coffee etc.
The possible trade goods are nearly unlimited.

After the festivities start, and .fedgov collapses, yes the old paper money will drastically fall in value. Eventually gold and silver will re-emerge as money.

I see paper cash money as a temporary bridge between the past economy and whatever is going to come. You are going to need as many options as you can think of to cover all the possibilities.

Just converting excess funds to storable food is becoming a great inflation hedge. Just make sure of the expiration dates, and you buy a balance of food items you will actually need and use.
 
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D

Dozdoats

On TB every waking moment

Executive Order 14067—Ensuring Responsible Development of Digital Assets | The American Presidency Project

www.presidency.ucsb.edu www.presidency.ucsb.edu

JOSEPH R. BIDEN
46th President of the United States: 2021 ‐ present
Executive Order 14067—Ensuring Responsible Development of Digital Assets
March 09, 2022
By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows:

Section 1. Policy. Advances in digital and distributed ledger technology for financial services have led to dramatic growth in markets for digital assets, with profound implications for the protection of consumers, investors, and businesses, including data privacy and security; financial stability and systemic risk; crime; national security; the ability to exercise human rights; financial inclusion and equity; and energy demand and climate change. In November 2021, non-state issued digital assets reached a combined market capitalization of $3 trillion, up from approximately $14 billion in early November 2016. Monetary authorities globally are also exploring, and in some cases introducing, central bank digital currencies (CBDCs).
/snip
 
marsh

marsh

On TB every waking moment
California recently gave a gas subsidy payment to tax payers. When they have your bank account number, they just automatically deposit it. I filed, but made too little to pay, so they sent me a card loaded with the amount. No privacy there and if you didn't use it all, it disappears.

I think those of us on SS and public pensions will have no choice with CBDC. It is how we will get our monthly payments. I can see them dropping them all to a common flat basic income payment when the treasury note goes tits up. I can see them also eventually programming what food you can purchase based on your demographics and medical history.
 
R

raven

TB Fanatic
I googled the phrase "percentage of transactions in US made with currency"

The first item returned was from the FED - which is probably an authoritative source - maybe.
www.federalreserve.gov

Money and Payments: The U.S. Dollar in the Age of Digital Transformation

The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov

Money and Payments: The U.S. Dollar in the Age of Digital Transformation​

This paper is the first step in a public discussion between the Federal Reserve and stakeholders about central bank digital currencies (CBDCs).

Long article - suffice it to say the article is about CBDCs.

"According to a 2020 survey, U.S. consumers used cash for 19 percent of total transactions (6 percent by value)"
I notice that they do not actually have "data" on transactions - which they should have - they used a survey.

"In some jurisdictions, however, digital payments have rapidly supplanted cash. While cash use in the United States fell from 40 percent of transactions in 2012 (12 percent by value) to 19 percent in 2020, other countries have seen more rapid declines.23 In Sweden, for example, the proportion of cash payments fell from 33 percent to less than 10 percent over the same period.24 In China, 50 percent of point-of-sale (POS) payments are made with a mobile wallet or app, while cash accounts for just 13 percent of POS payments."

Note that while 19% of "transactions" were cash, only 6% of "dollars spent" were cash.

We are so close to all digital currency that implementation only requires someone to develop a technique (because the tech is already existing) to capture cash based transactions for things like garage sales, tips, purchases of MD-20/20, Colt 45, and Menthol Kools, Pan Handlers that spit on your windshield, and donations to Political Candidates.
 
M

mecoastie

Veteran Member
raven said:
I googled the phrase "percentage of transactions in US made with currency"

The first item returned was from the FED - which is probably an authoritative source - maybe.
www.federalreserve.gov

Money and Payments: The U.S. Dollar in the Age of Digital Transformation

The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov

Money and Payments: The U.S. Dollar in the Age of Digital Transformation​

This paper is the first step in a public discussion between the Federal Reserve and stakeholders about central bank digital currencies (CBDCs).

Long article - suffice it to say the article is about CBDCs.

"According to a 2020 survey, U.S. consumers used cash for 19 percent of total transactions (6 percent by value)"
I notice that they do not actually have "data" on transactions - which they should have - they used a survey.

"In some jurisdictions, however, digital payments have rapidly supplanted cash. While cash use in the United States fell from 40 percent of transactions in 2012 (12 percent by value) to 19 percent in 2020, other countries have seen more rapid declines.23 In Sweden, for example, the proportion of cash payments fell from 33 percent to less than 10 percent over the same period.24 In China, 50 percent of point-of-sale (POS) payments are made with a mobile wallet or app, while cash accounts for just 13 percent of POS payments."

Note that while 19% of "transactions" were cash, only 6% of "dollars spent" were cash.

We are so close to all digital currency that implementation only requires someone to develop a technique (because the tech is already existing) to capture cash based transactions for things like garage sales, tips, purchases of MD-20/20, Colt 45, and Menthol Kools, Pan Handlers that spit on your windshield, and donations to Political Candidates.
Click to expand...
With Venmo garage sales etc would be covered. I see more and more yard sales advertised that accept Venmo.
 
B

billet

Veteran Member
Well, since participation will require the use of a smartphone, and since I don't own a phone (and no intention of ever owning one) I'm out.
 
West

West

Senior
billet said:
Well, since participation will require the use of a smartphone, and since I don't own a phone (and no intention of ever owning one) I'm out.
Click to expand...

Hopefully the government doesn't force us into the up and coming so called work camps or end of life pods.

I have a phone but will resist the mark. Even if it means smashing my phone up in grinder then acid, then burn it, then pan the heavy metals, then smelt the precious into tiny bars...
 
C

custom2006

Senior Member
TammyinWI said:
Nope, this is something we do not want. Money has to stay, and I believe that these delusional thieves will not get thier way. There will be too much pushback on so many levels.

They don't get to pick and tell us what to do and control us in that way. Dang diabolical evil control killer freaks.

Yes, I am p.o.ed at the prospect, couldn't tell, huh?
Click to expand...

All while pretending to be our "servants" ...
 
West

West

Senior
Samuel Adams said:
What if I pay by assuring my consenting seller that I’ll drop a five gallon jug of home spun apple cider vinegar by….in the morning ?
Click to expand...
Bad move.

You gotta know a guy that knows a guy, that will put the cider in that old treestump on the side of farmer Jones pastured hill side.

Tell the seller to take the cider but replace product in said stump.

If he rips you off a good attitude adjustment may be in store, wait until he's consumed the cider.

:D
 
Samuel Adams

Samuel Adams

Has No Life - Lives on TB
West said:
I have a phone but will resist the mark. Even if it means smashing my phone up in grinder then acid, then burn it, then pan the heavy metals, then smelt the precious into tiny bars...
Click to expand...
West said:
Bad move.

You gotta know a guy that knows a guy, that will put the cider in that old treestump on the side of farmer Jones pastured hill side.

Tell the seller to take the cider but replace product in said stump.

If he rips you off a good attitude adjustment may be in store, wait until he's consumed the cider.

:D
Click to expand...

You sure do make life complicated.



:gaah::bhd::gaah::bhd::gaah::bhd::gaah:
 
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