Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Points and Figures (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Digital US Dollars

% of readers think this story is Fact. Add your two cents.


Fed Chair Jerome Powell has come out in favor of developing a digital US dollar.  I am not in favor of it.  The cool thing about cryptocurrency is it is programmable.  I don’t want my fiat-backed US currency to be programmable.  I am a huge fan of cryptos that enable innovation, like Helium ($HNT.X) or Filecoin.  The dollar is already sort of digital already.

There are so many things wrong with this digitization idea as it pertains to freedom and liberty I don’t know where to begin.

Imagine if you went to your doctor and were marked as obese.  Further, imagine socialized medicine which the Democrats desperately want to institute in the US.  Suppose you went to the store to buy some food and your digital dollars were turned off for food that wasn’t approved for you by the government.

Yes, it can happen and anyone that was paying attention during the last fifteen months ought to realize it.

Suppose you wanted to make an investment.  But, suppose the government didn’t want you to invest in that sort of thing.  Maybe it’s an oil well or something like that but it could be anything.  The government could “turn off” those dollars when it came to that sort of investment.

Maybe the government thinks you have enough money and shouldn’t be able to invest.  Maybe the government decides politically you aren’t aligned with it and you shouldn’t be able to invest but lets cronies who are politically aligned invest.

You should be able to dream up some ideas where the government having control of the currency you earned and it being electronic so they can turn it on or off will do great harm to you and society.  It’s one of the reasons China is actively developing a digital yuan.  If you can’t think of anything, read George Orwell’s 1984, Ayn Rand’s Atlas Shrugged, Aldous Huxley’s Brave New World, and Ray Bradbury’s Fahrenheit 451.  Then, start imagining.  Remember, they are not “how to” manuals.

Certainly, there are efficiencies that can be gained in back offices, money transfer and other areas of our financial system through the use of blockchain and cryptocurrencies.  However, sometimes we have to look at the opportunity costs of those frictions as it relates to freedom and liberty.  We may have to tolerate some friction in order to preserve our liberty.

The post Digital US Dollars first appeared on Points and Figures.



Source: http://pointsandfigures.com/2021/05/21/digital-us-dollars/?utm_source=rss&utm_medium=rss&utm_campaign=digital-us-dollars


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

MOST RECENT
Load more ...

SignUp

Login

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.