A quick post
Well not so much. It used to be that you could grab something from a page - screenshot it - and write your two cents on what you think about the topic.
But that is not the case any longer. You get some of the words and then images are just eliminated and replaced by black outlined boxes. The frustration is intentional so that one might get discouraged and give up trying to share or comment on wide-spread ideas.
Not this guy. I spend the time to take my one screen shot and cut it into several pieces, save images that were eliminated and reassemble all of it so that you can see what I was seeing when I decided to post this. The result is what you have below.
So let me answer the glaring question The Federal Reserve poses (and pretends to answer) in this twitter post.
CBDC (Central Bank Digital Currency) is anything but digital cash. It is more useless than a coupon because it can expire any time with no warning. You might head to the store with your card, chip, or phone thinking that you have a certain spendable balance but when you select the things you need to buy, certain items or the entire purchase may be rejected due to your most recent post on twitter or even something you said to your psychologist the other day.
CBDC is the Youtube of money. You can spend it on anything you like as long as you do not make any waves.
I am sure some of you have heard of people who have been rejected for a new job due to something they tweeted years ago. There have even been some people who were fired after someone found that old tweet that has somehow become "politically incorrect" in the last year or so.
We have all heard of food stamps or whatever they are called today. They are a kind of money that you can only spend on essentials that do not appear on a cannot buy list. Only food items, health items, and diapers can be purchased. Well known and established norms that apply to every person who carries one, no matter what you tweet or post on youtube.
A person who goes to the store with food stamps knows what they can and cannot buy before they leave home. It is predefined and designed to help people who may not have a job or stable income. If said person needs a new table, they will have to earn cash to buy that item.
Now imagine a world where there is no cash that you can pull out and buy that table. Sure you could buy a table with your CBDC balance but what if someone somewhere in an office sees that you have already bought two tables this year and decides to keep you from getting that third one. They think you should be taking better care of your tables!
The big difference between food stamps and CBDCs is that food stamps are a form of welfare but CBDCs will be a means of exchange for people earn and spend them. CBDCs eliminate any other option for purchasing things.
Food stamps are legislated so that a certain portion of tax payer dollars be given others who are less fortunate. We do not want starving people out there, or worse, their starving children. Food stamps should be limited to food and diapers only.
Our currency has to be a free means of exchange or else it becomes a means of coercion. I know there will not be people sitting at desks reading people's purchasing records and deciding who can or cannot buy things. There will be algorithms at work that can be tweaked every so often in order to coerce people toward or away from unwanted behavior.
The Wanter
I know I just made up a word. But we need to know who is defining the wanted behaviors or the unwanted ones. So what would happen if the who changes in the future.
We have recently seen a change in power in the U.S. of E.F.
One guy wanted the border closed and secure. The next guy wanted it open without even a covid test in order to be waved on through. What if, instead of a border policy, we are talking about a flip-flop in the definition of approved purchases.
What if the new guy comes in and orders the A.I. to disallow all donations to opposing party's candidates?
What if a pro-life candidate comes in and orders the A.I. to reject all payments to abortion clinics, and closes the CBDC accounts of Planned Parenthood?
Those are extreme examples but there are people in power already who are salivating over the power they will soon wield. Just look at the example of protestors in Canada. Geo-location places certain people in Ottawa at the horn honking fest and bank accounts were seized on a massive scale previously unheard of.
We only need look to the Chinese Social Credit Score and how that works. Then we know that none of this is far fetched. Their system profiles every citizen and their government gives no mercy to offenders.
The Solution
Once imposed, there is no solution except abject rebellion against it, which I will be part of.
I have not read what they have to say in their documents. I will not play the "debate the lies" game. The same people who completely mismanaged the paper dollar into oblivion, want me hand them control over the next currency? No thank you.
Take a look at their statement in the image above. A CBDC is a digital form of central bank money...
Great. I have no problem with that. If it is one form of many forms of money then I will continue using the others. But they are going to make this the only form that can be used for purchases. So the word "a" is put there to misinform you and give you the idea that this CBDC will be one option out of many currency options that you will be able to use. False. We cannot even get past the image they created without being misled. Why would I read their FAQ? My mind would begin to sort through the lies and separate them from the known facts.
One more example of their misuse of words - I did not check, but am sure it is there - is the use of the words "the blockchain". The companies that never use even "a blockchain" to secure their customer's funds like to use the words "the blockchain" elude their services are secure like bitcoin. After all, it is on the blockchain. I have noticed this for many years now. Everyone talks as if there is only one blockchain and they love to run in and claim the security record of bitcoin's blockchain just because their coin or product is on a (completely different) blockchain of their own design.
If you have a centrally controlled blockchain, you may as well just use a paper ledger and a pencil with a huge eraser to make your entries. You can still call it a blockchain if you want, but when my money is there one minute and gone the next, it is nothing like the original bitcoin blockchain or the original litecoin blockchain. We could talk about the other 15,000 or so blockchains, mesh networks, or ring signature structures, all of which, are completely distinct and individually secured by their nodes and miners.
The above paragraph would likely provide more actual knowledge than the entire Federal Reserve FAQ.
What can you do now?
You can change any savings you have into gold or crypto.
You can purchase assets which you actually possess (and possibly sell/trade in the future).
You can express your opinion on all of this, which is what the Fed is asking for right now.
You can encourage local markets and stores to take crypto (it is much easier than you think).
They will likely give away 1000 CBDCs at first so that everyone has a wallet. They will likely make it function like paper dollars, allowing donations to any candidate at first. Later, they will then train up the A.I. and finally cut off the ability to use it on certain items.
If we accept this system of payment, it should not be attached to our identities. (Like dollars)
I would definitely avoid holding any significant balance in CBDC, which is exactly how I treat banks right now. They only see a balance sufficient to pay the up coming bills that I can foresee.
I plan to reject payment in CBDC for any work that I do or service I provide.
I plan to use crypto or gold when the paper currency is demonetized. That is why I am currently making large purchases using bitcoin or one of its brothers. I am paying for things with anonymous gift cards that I buy using common crypto currencies. This is a fight for our right to self determination, freedom of association, and our own pursuit of happiness.
This was written off the top of my head as a reaction to this official announcement from the Federal Reserve regarding CBDCs, something I foresaw coming long ago. They could easily adopt a current form of crypto like El Salvador did. But they do not want that. They want one that can be printed, inflated, tracked, controlled, and manipulated. We will not stand for that.