Feds looking into digital currency.

WildmanWilson

If you want to know what a power grab looks like this is it. I’m sure some of you will think it’s great since you’re  told to think that. It’s probably going to happen at some point. 

https://thepulse.one/2022/10/03/the-federal-reserve-is-looking-very-closely-at-issuing-central-bank-digital-currency-cbdc/

nolaegghead

Thanks.  I'll just ignore this.

Legume

Again with the fear.  When someone is so afraid of progress and change, the good ‘ol days they glorify and pine for would’ve been scary to them as well because there has always been progress.  Status quo doesn’t work as a survival strategy.

Legume

I’m sure actual wolves get scared too.

dmchicago

Legume said:

I’m sure actual wolves get scared too.

It's really hard to keep up with all the things these "wolves" are afraid of.

WildmanWilson

The thing we are afraid of is seeing the woke snowflake too stupid to see they are being taken to the slaughterhouse. You truly are clueless to what’s going on under your noses. Like I’ve repeatedly said. No matter what your puppet masters tell you, you follow with full obedience. 

Legume

Yes.  Totally agree. It’s just a massive conspiracy that conspiracy theory touting whackos are pedaling conspiracies. They even told you to stop and take a deep breath early in that article, subtly letting you know you’re supposed be pissed off, thereby ensuring you reach for the gun and the tinfoil hat.

FlyOverCountry

dbCooper

@WildmanWilson

Those fearful items discussed in the opinion piece you linked to, are not all of them also possible with the physical fiat currency in use in the US?

Perhaps you should be advocating for a private banking system completely divorced from the federal government?  You might consider pegging the $ value to the gold standard.

nolaegghead

Paging Wildman William McKinley - please resurrect the gold standard so conspiracy people will shut up

fishlessman

If only we could go back to the old days where trading a chicken could get you the things.......

Legume

dbCooper said:

@WildmanWilson

Those fearful items discussed in the opinion piece you linked to, are not all of them also possible with the physical fiat currency in use in the US?

Perhaps you should be advocating for a private banking system completely divorced from the federal government?  You might consider pegging the $ value to the gold standard.

Any change is a reason to assume the double-secret baby-eating cabal is going to enslave him.

Maybe he and @billt01can work on a safe and patriotic crypto scheme.  I think a three wolf moon coin could become very popular.

Legume

WildmanWilson

A gold standard would be nice but there’s not enough gold to back the spending appetite of our government. They have taken in over 4 trillion in taxes yet still outspend what they take. 31 trillion in debt and counting. Just think, a trillion seconds ago was over 31,000 years ago. 

So other than just being argumentative, you honestly don’t see the danger of our government going digital? You can’t think of any downsides? 

Had I posted this and defended them going digital you sheep would automatically taken the opposite view. That’s how it all works with you. You aren’t very smart but you are consistent. 

nolaegghead

Mr anti-government extremist is irate.

Legume

I think we agree on more than you realize.  We agree the sky is falling and we agree the stuff you post is evidence of it.

HeavyG

How many of those folks that are worried about a federally backed digital currency cuz...reasons... never use a credit card or write a check and do all their economic activities in cold hard cash?

WolfBoy strikes me as one of those cranks that takes in a wagon full of pennies to pay their water bill.

WildmanWilson

HeavyG said:

How many of those folks that are worried about a federally backed digital currency cuz...reasons... never use a credit card or write a check and do all their economic activities in cold hard cash?

WolfBoy strikes me as one of those cranks that takes in a wagon full of pennies to pay their water bill.

You can’t be that dumb. Is that what you think a government digital currency means? 

I’m not even going to try and convince you because you people are clueless. How about you actually research the dangers that come with it. How they will have total control over every aspect of your life. That they will have a record of your every move. That you can be punished if you don’t comply. Don’t forget all the people that do side hustles to make a few buck or money grandma gives you over the years. On top of that, if you own crypto they will probably outlaw any competition to theirs. 

Legume

WildmanWilson said:

HeavyG said:

How many of those folks that are worried about a federally backed digital currency cuz...reasons... never use a credit card or write a check and do all their economic activities in cold hard cash?

WolfBoy strikes me as one of those cranks that takes in a wagon full of pennies to pay their water bill.

You can’t be that dumb. Is that what you think a government digital currency means? 

I’m not even going to try and convince you because you people are clueless. How about you actually research the dangers that come with it. How they will have total control over every aspect of your life. That they will have a record of your every move. That you can be punished if you don’t comply. Don’t forget all the people that do side hustles to make a few buck or money grandma gives you over the years. On top of that, if you own crypto they will probably outlaw any competition to theirs. 

And take your guns and make you have babies.

This is what happens when you’re entrenched in the maga mindset, any new idea triggers fear because your brain is projecting what someone like Bannon or Trump or DeSantis or Abbott would do.  What the actual F are you afraid of all the time?

FlyOverCountry

dmchicago

FlyOverCountry said:

I pictured you differently. 

HeavyG

WildmanWilson said:

HeavyG said:

How many of those folks that are worried about a federally backed digital currency cuz...reasons... never use a credit card or write a check and do all their economic activities in cold hard cash?

WolfBoy strikes me as one of those cranks that takes in a wagon full of pennies to pay their water bill.

You can’t be that dumb. Is that what you think a government digital currency means? 

I’m not even going to try and convince you because you people are clueless. How about you actually research the dangers that come with it. How they will have total control over every aspect of your life. That they will have a record of your every move. That you can be punished if you don’t comply. Don’t forget all the people that do side hustles to make a few buck or money grandma gives you over the years. On top of that, if you own crypto they will probably outlaw any competition to theirs. 

Don't ever underestimate how dumb I can be!

I think I have a pretty good understanding of what a CBDC is and how it operates and how it differs from a private cryptocurrency and the current commercial banking systems. However, I'll be the first to admit there are probably gaps in my knowledge. And I have no doubt that a learned person such as yourself can elucidate the dangers of a CBDC vs privet crypto currencies vs existing digital transfers of money in our everyday lives/commerce.

Are the feds really going to know more about us than private companies we all deal with via credit cards for instance? Amazon is going to know in intimate detail everything about every item I purchase whereas the fed/CDBC is just going to know I'm transferring "$xx" to a vendor.

No doubt there are potential dangers with a move to a CBDC but I don't think Biden's executive order of a few months ago to study developing a CBDC is a real harbinger of doom some seem to think.

fishlessman

Maybe as an olive branch the feds, senate, political leaders and their families go govt crypto first and the public can watch the transfers for maybe ten years. They should have done that with healthcare....