Authored by Robert Aro via The Mises Institute,
A cashless society would be the nail in the coffin for liberty and freedom, offering centralization, the likes of which Marx could only dream.
The existence of a government backdoor or spyware becomes a real possibility, and given the State’s track record, a real likelihood.
Then, of course, the ability to track, freeze, and even set expiry dates on money, will be marketed as “features” to protect the public.
From Birch Gold Group
It certainly appears that central bank controlled digital currency is gaining even more popularity.
These “Fedcoins,” according to The Economist, “are a new incarnation of money. They promise to make finance work better but also to shift power from individuals to the state, alter geopolitics and change how capital is allocated.”
The same piece also reveals the increased level of support for digital money: “Over 50 monetary authorities, representing the bulk of global GDP, are exploring digital currencies.”
Continue reading ““Fedcoin,” Dollar Abandonment May Signal the End of Global Reserve Status”
Guest Post by Ron Paul
If some Congress members get their way, the Federal Reserve may soon be able to track many of your purchases in real time and share that information with government agencies. This is just one of the problems with the proposed “digital dollar” or “fedcoin.”
Fedcoin was initially included in the first coronavirus spending bill. While the proposal was dropped from the final version of the bill, there is still great interest in fedcoin on Capitol Hill. Some progressives have embraced fedcoin as a way to provide Americans with a “universal basic income.”
Both the Senate Banking Committee and the House Financial Services Committee held hearings on fedcoin in June. This is the first step toward making fedcoin a reality.
Continue reading “Fedcoin: A New Scheme for Tyranny and Poverty”