CBDC’s and The War on Cash

Some states are pushing back on the Federal Government’s plan to implement Central Bank Digital Currency.  If you aren’t keeping up on this you probably should make an attempt to understand it.  The Bible says the world will eventually have a cashless system and we are running headfirst into that becoming a reality.  Remember, we are the first generation to have the technology to make this possible.  When it happens, the powers who control that currency will be able to control everything that is bought or sold.

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 Governments sell the idea of CBDC by promising to provide a safe, convenient, and more secure alternative to physical cash. We’re also told it will help stop dangerous criminals who like the intractability of cash. But there is a darker side – the promise of control.

At the root of the move toward government digital currency is “the war on cash.” The elimination of cash creates the potential for the government to track and even control consumer spending.

Imagine that all cash disappeared this morning and all that was left was a government-controlled digital currency. You would be forced into doing all business electronically with this government money. It would be impossible to hide even the smallest transaction from the government’s eyes. Something as simple as your morning trip to Dunkin would be known by government functionaries. As Bloomberg put it in an article published when China launched a digital yuan pilot program in 2020, digital currency “offers China’s authorities a degree of control never possible with physical money.”

Governments could even “turn off” your ability to make purchases. Bloomberg described the level of control a digital currency could give Chinese officials.

The PBOC (People's Bank of China) has also indicated that it could put limits on the sizes of some transactions, or even require an appointment to make large ones. Some observers wonder whether payments could be linked to the emerging social-credit system, wherein citizens with exemplary behavior are ‘whitelisted’ for privileges, while those with criminal and other infractions find themselves left out. ‘China’s goal is not to make payments more convenient but to replace cash, so it can keep closer tabs on people than it already does,’ argues Aaron Brown, a crypto investor who writes for Bloomberg Opinion.

https://www.zerohedge.com/political/several-states-take-steps-block-central-bank-digital-currency