CBDC Happened Last Wednesday

[JohnyMac]

While most of us were preparing for Thanksgiving weekend, our NY Federal Reserve bank rolled out CBDC (Central Bank Digital Currency) on Wednesday November 23rd. They did this with the help of Citigroup, Mastercard, and Wells Fargo banks.

Now this is just a beta rollout in order to work out the kinks mind you. An estimation is that if all goes well and just a few items need to be tweaked, your new digital currency will be ready to go in six months.

Have you had a voice in this decision? 

?The 12-week PoC will test a version of the RLN design that operates exclusively in U.S. dollars where commercial banks issue simulated digital money or ?tokens? ? representing the deposits of their own customers ? and settle through simulated central bank reserves on a shared multi-entity distributed ledger,? according to a press release.

?The PoC will also test the feasibility of a programmable digital money design that is potentially extensible to other digital assets, as well as the viability of the proposed system within existing laws and regulations,? the press release notes." - BPR Business & Politics

The article is a easy three-minute read. Read it and pass it along.

[pkveazey]

When it comes to CBDC, we are screwed. I've tried to make people understand that using Debit Cards, Credit Cards, and swiping that damned Cell Phone under a scanner is falling into the trap of allowing someone else to have control of their money. They all nod their heads like a Bobble Head in the back window of a car and they continue to use those things. I've come to the conclusion that I'll just have to do what I do and let the fools do what they do. The problem is that their actions or lack of actions are going to affect me in a negative way. They just don't understand that the push of a button can and will lock down their funds and cause the total loss of all privacy. Its almost as bad as the guy who was about to hung and he said, "Here, let me help you with that". and he put the rope around his own neck.

[JohnyMac]

I truly do not know how to get around digital currency once it becomes the law of the land. Maybe barter, e.g. goods, and labor as an example. Maybe PM's specifically silver.

I have a sneaky suspicion that like in June 1933, this will happen once we go digital.

Here we go ESG scores! And people called me paranoid.

Any thoughts are welcome.

 

[Nemo]

OF course you are paranoid.  Accurate also.  Its just there should be no problems with only electronic funds and ESG scores.  Everybody knows that already.  When that happens we won't need guns either so think of all the lives saved.

Nemo

[pkveazey]

Initially, we will be allowed to continue using that worthless toilet paper that we call currency. They will phase it out slowly like they have always done in the past. The Sheeple don't understand that when its only CBDC, and they try to buy a firearm or some ammo, the transaction will not be allowed. The fools don't understand that you can't fix a broken lightbulb. Now, as for ESG scores, that's a whole different ballgame. The first thing that we must realize is that ENVIRONMENTALISM is not an idea, it is a RELIGION. Now, that's not to say that being environmentally aware is a bad thing. Its the environmental whackos that want to control every aspect of our lives. Well, I'm not having any of it. Mankind cannot destroy the world. We can screw it up pretty good, but in the end, the Earth(Mother Nature) can and will kick our ass. I hate to say it, but if we all stopped watching TV, using Smart Phones, and stopped using the Internet, they would lose control of the brainwashing that's going on 24/7. We preppers are coming closest to being able to survive the new world. We try to be as self sufficient as possible and divorce ourselves from the Government. We will fail, but we will be the last to fail.