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The Federal Reserve Bank of Boston and MIT completed a
study on the implementation of a central bank digital
currency (CBDC). This was known as Project Hamilton
and the initial report was completed back in December.
The ostensible reasoning behind the CBDC was to
facilitate interbank transfers and other financial
transactions. It may be initiated this summer.
However, I strongly suspect it is the precursor to a
cashless economy/society.
Once the CBDC is implemented and exercising to get the
bugs out of it, I suspect that a cashless economy will
be implemented. All forms of currency will be
surrendered within a short time before they are
declared void.
Large segments of our "underground" economy will have
to convert to make certain all transactions are
accounted for and taxed as required. Criminal activity
will be curtailed until the crooks find work arounds as
the always do.
Next will come imbedded personal identification - RFID
chips like our pets carry. These will be necessary to
validate transactions. It will also mean big brother
will be watching our every move. Property crime will
take a drastic reduction. But so will privacy.
When the federal government finally learns about your
wealth and taxes it, they will go after gold and silver
holdings. Confiscating them as FDR did. Once that is
complete - just like with FDR that will be followed by
a major upward price reset.
Wealth accumulation for heirs will come to an end.
While it may still be possible to acquire luxury
properties -a mansion, jewelry and artwork, these too
will come under attack.
This is the sort of stuff that causes revolutions. If
they try to implement a cashless society, things will
get ugly pretty quick. Liberals think folks will just
accept it as a way to make life better and fairer for
everyone. Their vision of a utopia. This is the same
crowd that is pushing the lies of "wokeness". Where
white supremacy is the root of all evil.
They don't want to remember that it cost our country
lives of nearly 1 million (on both sides of the civil
war) to end slavery in the United States. They
misrepresent history by stating that America was built
on the backs of slave labor. While that may have been
true for some parts of the South, most of our
industrial revolution and associated infrastructure was
built on cheap immigrant labor - particularly white
Irishmen.
Personally, I believe President Biden is too beholden
to our liberal elites to come to his senses and put a
stop to it. I sincerely hope this posting does not
become prophetic. But a major economic crisis may push
it that way.
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jpdell33
05-16-2023 @ 11:49 AM