A Hitchhiker’s View of the Digital Currency Threat
The inevitability of a centralized, digital monetary system was all but made certain when Bitcoin and other cryptocurrencies came into being. What seemed like innovation to rescue us from the poorly managed policies and control mechanisms our current monetary systems/governments are infamous for, has put us all at risk via unintended circumstances.
With virtually every country that matters launching centralized digital monetary system pilot programs, there will be plenty of case studies and data available in which to work out the kinks over the next couple years. Granted, we’re kind of already there with credit cards and such, but physical currency, although worthless in form, still represents value and provides an anonymous mechanism in which to trade for products, services, as well as personal business, charity, and pleasure transactions without authorities in the know.
Cryptocurrency tech has provided the bankers with a way to track each and every transaction, and potentially control every transaction. Nothing can be done under the table, there will be no “cash prices”, and no hiding stacks of cash under your mattress in case of emergencies. The government will undoubtedly have access to your account and that means the IRS will too.
Without cash on hand for such emergencies, Uncle Karl (not Sam) will be able to put a hold on your digital assets or (God forbid) siphon from it at will – should you owe taxes on property, inheritance, or other situations such as governmentally-guaranteed school loans.
Many small businesses are cash businesses. Small, family owned, culture-specific restaurants are cash driven, as are bodegas, and local bars. They survive by the skin of their teeth and some of that is in the avoidance of credit card usage and the cost involved. There is a high likelihood of a “charge” per transaction on a digital currency as in a credit card charge, because processing has to be paid to some third party processor. That third party processor will likely also have to be indemnified by the government should there be a data breach when digital accounts are potentially wiped out.
The abolishment of paper money means every nickel will be accounted for. No amount of “criminal” activity will be possible. Mom and Pop stores will suffer, but so will human traffickers, drug dealers and cartels until they figure out workarounds and laundering tactics. Uncle Karl will be watching your weapons and ammo purchases and unless all transactions are somehow deemed private by law, nothing is stopping the authorities from knocking on your door when a red flag transaction is triggered.
Those being born in the next few years will never know the difference. They’ll never know the freedom a citizen in a free society feels when there is only one hand in their pocket or purse by having cash. Government’s diabolical temptation to control credit disbursement, prevent free movement, and control a citizen’s livelihood is one that China for example, is already engrossed in. This is the same country caging in citizens in Covid affected areas, and basically preventing anything that even remotely resembles freedom – from being a way of life.
In 2016, India, without notice, declared cash was illegal. Almost immediately the economy collapsed and 70% of the economy crashed. They attempted to become a cashless society but it essentially became cryptocurrency, and in the hands of big tech and its algorithms, according to Vandana Shiva, they will do what they did in China, and inevitably, create a new caste society. One of the main tenets of the great reset is that no one will own anything in the future – except the powers that be. According to Shiva, if ever there was a time to act…this is it.
In closing, India’s big tax evaders and corrupt individuals of high value weren’t hoarding billions in black market cash. The windfall the geniuses advising the Indian Prime MInister promised they’d be delivered, delivered the exact opposite. The wealthy had most of their money invested in property, gold and in Swiss Bank Accounts. The middle-class and lower class here in the USA won’t be so lucky. Gold is now the hedge not only against inflation, but the great reset as well.
Citations: Vandana Shiva @VandanaShivaMovie Author Deepa Krishnan / What Happened After India Eliminated Cash/ Strategy-Business.com 12/7/2019 Kelly Kleinman/Blogger/The Last Hitchhiker