Digital Currency

[pkveazey]

Hmmm........ We all have been hearing little tidbits about shifting to a Digital Currency. My ear is tuned to listen on the NEWS about anything concerning Digital Currency. There has been hardly a peep out of them. Well, the Federal Reserve announced that they intend to implement Digital Currency in July of 2023. You can bet the farm that that's all you're going to hear about it until right before it happens. Every time in the past that they have made changes to our monetary system, they have not oughtlawed the current money but they do eventually stop you from using it or they take it out of circulation whenever it gets back to a bank. Anybody remember the Silver Certificates? Yep they let you use them for a while and then put a deadline on them. Oh, and before that there were Goldbacks and they stopped you from using them also. The average "Fool On The Street" will think nothing of it and even think its more convenient. Damn! How dumb can a person be? Every transaction will be recorded. Hmm.... Want to buy some Ammo? No problem, except Big Brother will know What you bought, Where you bought it, How much of it you bought, and How much you paid for it. I personally will stay in cash for as long as I can and then switch to Precious metals and then use their damn digital system for things that I don't mind them knowing about.

[Nemo]

Looks like a hoard cash for the foreseeable future.

Nemo

[Felix]

I've a "Grand Total" of a whopping 1k laying cash on safe.
In today's inflationary environment (but it'll only be "temporary", riiiiight...), how much cash is to be exposed to loss of spending power?     Even though other instruments like bonds and stocks may take a beating, at least they _do_ earn a small return.
Perhaps timing is of the essence, going from investments to cash being a matter of .

If not now, when?
Shoot for good AND lucky?

[Jackalope]

    Due to the current state of the economy, I think tangibles are better than cash.  Cash is just paper if the economy goes belly up.  Precious metals, guns, and ammo are probably among the best investments today.  After tonight's speech by Lyin' Biden, we'll probably be one step closer to civil war.  Once a hot civil war occurs, I would expect the dollar to become worthless and the implementation of digital currency would be somewhat delayed. 

    People are already unhappy with the government, how would the shifting to a digital currency effect the populace?   

[pkveazey]

Jackalope, you have no idea how much I want to agree with you. Well, Hell, I do agree with you but think about this. Right now, idiots are using their Credit Cards for everything, they also are using their Debit Cards. They are swiping that damned Cell Phone under scanners to make purchases, and last but not least, here's one that nobody thinks about. People sign up for CLUB CARDS like Paneras, Lowes, Walgreens, Food Lion, etc. Hmmm..... When you use cash at one of those stores and paid cash for your purchase, you just flipped out that Club Card and "BAM", that purchase became a recorded purchase. Damn! They even get you when you don't even know it. The dumbass public just keep falling for it and make all their purchases as recorded transactions. I'm also depending on Trade items. Hell, The wife and I are 77 YO but I have all kinds of stuff stockpiled that we will never use or need. I even have several cheap Pregnancy test kits. You can bet that somebody at sometime is going to want to trade something for them. I've got enough Shampoo and Body Wash stockpiled to supply all my neighbors (MAG Members) for at least a year. Hmmm..... Do you think I should add to my stock of an overload of Toothbrushes and Toothpaste. 60 or 70 of those disposable shaving razors should last quite a while. I'm getting more and more pissed off with every passing day.

[JohnyMac]

I have been leaving my cell phone home more and more. It worries me though as MrsMac can't get ahold of me if she needs me. 

I am thinking about buying a flip phone from the Dollar General with cash. Resupplying the phone with minutes if needed, again with cash. A very minimal number of people will have the number, like only MrsMac. If she calls me with an emergency, I will deal with the emergency then throw away the phone and buy a new one. So use it once and then discard.

The same if I needed help. Use the flip phone once and then discard.

Thoughts?

I use NO loyalty cards, with the exception of our local grocery store. Ya' have to, to benefit on the sale prices. 

With that written, I still use debit and credit cards. I know that I need to break the habit though.

 

[pkveazey]

JohnnyMac, I have a home phone and the wife and I both have Tracfons. I had to get new ones a couple of months ago because they were going to 5G and my old ones were going to be obsolete. The new ones cost me $10 each and are smart phones. I turned off the locator on every app in it and loaded all my contacts in it and didn't tell anyone what the phone numbers were. I carry it with me everywhere but rarely use it. Each phone averages about $7 a month. If things get heated up, I'll turn it off and wrap it in aluminum foil while its in my carrying case.

[Nemo]

Rather than foil you might try something like this.  Or it could be just a signal magnifier too.

Nemo

https://smile.amazon.com/gp/product/B09MLMNJX2/ref=ox_sc_saved_title_7