Musicinventor
Jedi
Please correct me if I’m wrong… the U.S. treasury doesn’t have a tin can to pee in let alone a pot, isn’t this just another form of fiat currency, one that is as we’re aware, designed to be controlled by the PTB?
Role of Crypto/Cybercurrencies in the PTB's loss of control?
- Thread starter Ryan
- Start date
axj
The Living Force
Catherine Austin-Fitts thinks that the US wants to let other countries launch CBDCs first and then learn from their experience and mistakes in order to then set up a "near perfect" CBDC system in the US. Currently the state of CBDC development in the US is surprisingly far behind many other countries.
axj
The Living Force
Of course, except CBDCs allow even more intricate control of each individual - they are "programmable" and can be connected with a social credit score, CO2 wallet, limit what you are allowed to buy or even where you can buy (eg. only within 10 miles of your home).
Much of it could be done with the existing fiat currencies too, though it is far easier with a CBDC. The real danger comes from restricting or banning cash - if cash survives, they cannot fully implement their totalitarian CBDC fantasies.
BHelmet
The Living Force
My guess is they are ready to implement and the story about wait-and-see/US-is-lagging is just that: a story.
When they do pull the trigger and allow the system to dump, there is a chance the remaining cash in circulation could still retain a value in a parallel barter economy at least partially because of simple scarcity.
The key to this thread is if bitcoin is a bastard creation of the deep state or not. And then also the on-ramp/off-ramp issue. That could be part of the “bridge to nowhere” comment. So you have a bunch of bitcoin, then peer-to-peer transfers become key. I would assume the legal path for bitcoin will be into CBDC only as the avenue of exchange. One other thing I would bet on is the creation and maintenance of a crypto vehicle for dark money transfers between fat cats and the big power brokers while the CBDC is for the rest of us schlubs. Monero may already be that rich kids plaything.
On the third hand, what does it matter if the grim reaper and his comets are waiting in the wings? Ah well, still gotta play the game like it’s never going to end.
When they do pull the trigger and allow the system to dump, there is a chance the remaining cash in circulation could still retain a value in a parallel barter economy at least partially because of simple scarcity.
The key to this thread is if bitcoin is a bastard creation of the deep state or not. And then also the on-ramp/off-ramp issue. That could be part of the “bridge to nowhere” comment. So you have a bunch of bitcoin, then peer-to-peer transfers become key. I would assume the legal path for bitcoin will be into CBDC only as the avenue of exchange. One other thing I would bet on is the creation and maintenance of a crypto vehicle for dark money transfers between fat cats and the big power brokers while the CBDC is for the rest of us schlubs. Monero may already be that rich kids plaything.
On the third hand, what does it matter if the grim reaper and his comets are waiting in the wings? Ah well, still gotta play the game like it’s never going to end.
Musicinventor
Jedi
India tried that back in 2016 and it failed miserably. People in local areas shunned the digital currency and continued to use cash. Is it possible we might see a replay?
Love of cash hinders India's move to digital economy
India's dependency on cash may slow the country's transition to digital payments despite large numbers of internet and mobile phone users. Sudhir Shinde, a farmer from Satara district in India's western state of Maharashtra says he withdraws more money from his bank than required as the money...
axj
The Living Force
The CBDC in Nigeria also failed miserably more recently. It is of course likely that "they" will learn from their mistakes, though I am still sceptical that the CBDC plans will work. It might actually be one of those things where they try to go too far and wake up even more people.
