We're hearing a lot about U.S. White house (on twitter) and the Govt. addressing alleged LBGTQ discrimination saying "we have your back" to children in the community...but I wonder why we aren't hearing about this new government issued digital currency? Do you think it's true? It's probably not true.
I am not a financial advisor. That said, I’ll sometimes swim outside of my professional lane because there's a lot of interesting topics to study out there AND everything is correlated to mental health so here goes - I'm swimming out of my lane. Let's talk about this shiny new digital currency that nobody is talking about. Did you know this was happening? If so, when did you hear about it? Leave a comment with a date and, who knows - this may all be a bunch of jibber jabber nonsense (let's hope!).
Certainly, the Government issuing a new digital dollar would be a huge announcement, right? If it’s valid, how was there no official announcement? Maybe it's not a thing and I'm being fed some conspiracy crap - I don't know but am willing and open to listen if this is way out in left field. I'll even make an accountability video on it if I'm way off. Am I way off? Ok, that said - I'm typically pretty early with stuff like this so give it a year from now before you want me to make a video saying I was completely off the mark. I hope I’m wrong!
Here's what I understand so far. The #CBDC (Central Bank Digital Currency) is a digital form of government issued money that's a lot like our money today - it isn't backed by a physical commodity (Gold/Silver) and can be created out of thin air at the whim of the Government. There are also some differences, the main one being - it's programmable. Another difference is that it’s CENTRALIZED meaning it will be controlled by the Banks/Government.
Pls let me know if I'm way off but isn't this a controllable cryptocurrency? It’s just like #bitcoin and all the other digital currencies out there built on #blockchain technology with the exception that the CBDC will be programmable. Not only can it track your spending (BTC can be tracked), the #CBDC will be programmed to only allow you to spend on what the Central Bank allows. I wonder if it’ll be some type of fiscal allotment.
My wife and I can control how my kids spend their allowance (or financial earnings). If I didn’t, we'd have Oreo's and donuts for breakfast, lunch and dinner. With the CBDC, the Government would be the "parent" and we'd be the "kid". Again, let me know if I'm off base on this. I actually WANT to be wrong about this.
Here’s a quick run-through of the basics. Bitcoin is “DE-centralized” meaning there is no main authority (which is why it's called "the people's coin"). It's a digital currency that can't be controlled or governed by one entity meaning we the kids, would be able to spend money on whatever we pleased and nobody could keep us from stocking up on Oreos! "Centralized" means that there's central authority - in this case, controlled by Mom and/or Dad (aka: the Government).
From what I'm reading and hearing, this is happening. In fact, (again, please tell me I'm incorrect) it’s being implemented and a lot of people are talking about it openly...including Gary Gensler, chair of the U.S. securities and exchange commission (appointed by Pres. Biden). Non-coincidentally, mommy and daddy are very much against the idea of BTC and have been for a very long time.
It is June 20th, 2023 at the time of writing this article. Did this all turn out to be a hoax? If not, when did you find out about the CBDC? Are you JUST seeing it? Let me know in the comments when you heard about this HISTORIC change in the financial system known as the CBDC (Central Bank Digital Dollar).
Hopefully I'm way off, though. But if I'm not, I imagine the CBDC 'pitch' will be packaged with a lot of perceived positives. Having ultimate control of every financial exchange would have it's benefits. It'd be very helpful in the fight against basically everything illegal including dealing drugs, gangs, immigration, human trafficking and that's just off the top of my head. There will likely be a lengthy list of pro's...in fact, you’d be crazy to NOT want this new innovation to be implemented immediately and with no need to look any closer. And for those that do want to look closer, a nice shame ticket and an all new way to divide the U.S. Citizens. But maybe I’m being crazy.
Hopefully none of this is accurate but if it IS - citizens will have to pay taxes on anything sold if the total exceeds 600.00 a year. This would include everything from old shoes to pricey automobiles. Let's hope my kids lawn mowing business doesn't make too much.
Maybe ALL transaction of funds will include a tax. With a centralized 'programmable' digital currency, anything is possible for the entity in control. Maybe this is why the IRS is planning to hire 30,000 to 87,000 new employees in 2023 (depending on the news source).
Here's the big question and the main point of this article. What if this 'racial divide' and LBGTQ angst just a huge misdirect that's being used to distract us from what seems to be a financial coup against U.S. Citizens??
Worry not. It will be ok - it will be even okay...er when you remember the 4 A's.
Appropriate - Action - Alleviates – Anxiety.
Special thanks to #AltcoinDaily for the info and until next time.
Jed Thorpe, CMHC