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Started By
Message
Federal reserve launches digital dollar initiative
Posted on 11/16/22 at 6:41 am
Posted on 11/16/22 at 6:41 am
Just days after FTX go’s under. Interesting timing I would say. Very interesting.
9
Posted on 11/16/22 at 6:47 am to Bamafig
I wish the common person understood the implications of this.
All your buying freedom can and will be taken away.
All your buying freedom can and will be taken away.
Posted on 11/16/22 at 7:16 am to I Love Bama
quote:
All your buying freedom can and will be taken away.
Idiotic comment, this has zero implications on your “buying freedom”
Posted on 11/16/22 at 7:26 am to I Love Bama
quote:
All your buying freedom can and will be taken away.
Been watching the Chinese social credit score videos, and how controlling down to what you can do at what times of day things are getting.
Wait for the green light, now you can buy some meat.
Posted on 11/16/22 at 7:29 am to Fox McCloud
quote:
Idiotic comment
Ahh the irony.
Posted on 11/16/22 at 7:30 am to Fox McCloud
quote:
Idiotic comment, this has zero implications on your “buying freedom”
You have much to learn.
Despite what people say, "crypto" technology has a number of highly useful uses. Some of which can be turned against you.
If you can separate the scams, memes, and jpegs, there is real meat in the space.
Posted on 11/16/22 at 7:30 am to Meauxjeaux
quote:
Been watching the Chinese social credit score videos, and how controlling down to what you can do at what times of day things are getting.
Wait for the green light, now you can buy some meat.
Yup.
Posted on 11/16/22 at 7:32 am to JayDeerTay84
(no message)
This post was edited on 4/3/23 at 4:08 pm
Posted on 11/16/22 at 7:33 am to msutiger
quote:
Every benefit of crypto currency immediately flies out the window when it is produced by the federal reserve
That was my point. It can be structured in a way to "take out" the good and replace with control.
People like that guy are so clueless, the government just need good marketing and people are suckered into "new ways" to help them...
It would be useful, whether you trade crypto or not, to learn what it does/did before any government ever touched it.
This post was edited on 11/16/22 at 7:35 am
Posted on 11/16/22 at 8:11 am to I Love Bama
quote:
I wish the common person understood the implications of this. All your buying freedom can and will be taken away.
They can control the US dollar just as easy as they could control a digital asset. All they have to do is tell the consumer the $100 bill is no longer going to be used and it needs to be cashed in at the bank asap.
India did this back in 2016.
Posted on 11/16/22 at 8:21 am to Bamafig
The Fed will be as good at controlling the money supply and inflation as they will a CBDC
Posted on 11/16/22 at 8:30 am to I Love Bama
quote:
All your freedom can and will be taken away.
FIFY.
CBDCs will truly be the end of freedom as we know it. I wish our populace would resist it, but 90% of the people I encounter couldn't live without their smartphones. They will embrace this and not even realize the consequences.
Posted on 11/16/22 at 9:21 am to Bamafig
Here's a thought I came up with.
What if?
In pursuit of equity, the dollar will be replaced with the digital dollar. But, there will be colors assigned to the value of the dollar. The value of the dollar is determined by how much income you earn annually.
Green dollar=120% of current value. Making less than 10K.
Blue dollar=110% of current value. Making less than 45K.
Yellow dollar=100% of current value. Making less 92K.
Purple dollar=90% of current value. Making < than 175K.
Orange dollar=80% of current value. Making < than 220K.
Red dollar=70% of current value. Making less than 550K.
A person with green dollars making less than 10K a year's purchasing power is much more than the (privileged) person making over 550K red dollars can buy.
Also, your 401Ks, savings/investments, can be converted to colored dollars according to amount.
<20K green dollars
<50 blue dollars
And so on to where the red bracket loses 30% of the current value of the dollar.
You can only hold dollars in one color. The color assigned to your income/wealth status.
All transactions will be done digitally, so the system can keep up with the color of dollars you pay with.
You see how perfect the digital dollar can make the US?
The poor can achieve equity with the rich over night! What a great time to be alive!!
What if?
In pursuit of equity, the dollar will be replaced with the digital dollar. But, there will be colors assigned to the value of the dollar. The value of the dollar is determined by how much income you earn annually.
Green dollar=120% of current value. Making less than 10K.
Blue dollar=110% of current value. Making less than 45K.
Yellow dollar=100% of current value. Making less 92K.
Purple dollar=90% of current value. Making < than 175K.
Orange dollar=80% of current value. Making < than 220K.
Red dollar=70% of current value. Making less than 550K.
A person with green dollars making less than 10K a year's purchasing power is much more than the (privileged) person making over 550K red dollars can buy.
Also, your 401Ks, savings/investments, can be converted to colored dollars according to amount.
<20K green dollars
<50 blue dollars
And so on to where the red bracket loses 30% of the current value of the dollar.
You can only hold dollars in one color. The color assigned to your income/wealth status.
All transactions will be done digitally, so the system can keep up with the color of dollars you pay with.
You see how perfect the digital dollar can make the US?
The poor can achieve equity with the rich over night! What a great time to be alive!!
Posted on 11/16/22 at 9:28 am to Bamafig
Somebody correct me if I'm wrong, but wouldn't a legit USD crypto really hurt credit card companies?
*ETA: the processing end, not the credit part.
*ETA: the processing end, not the credit part.
This post was edited on 11/16/22 at 9:28 am
Posted on 11/16/22 at 9:41 am to SlowFlowPro
quote:
Somebody correct me if I'm wrong, but wouldn't a legit USD crypto really hurt credit card companies?
I'm sure the credit card companies will do enough lobbying to make sure they're still in on it.
Posted on 11/16/22 at 9:45 am to BottomlandBrew
But there's no way that a crypto would have a 3% transaction fee 
Posted on 11/16/22 at 9:47 am to SlowFlowPro
Good point. One can expect them to spend a lot of money lobbying to make sure this does not happen.
One of the few times the end consumer will benefit from lobbies.
One of the few times the end consumer will benefit from lobbies.
Posted on 11/16/22 at 10:08 am to Bamafig
CBDC is exactly how they get to “You Will own nothing.”
ESG was step 1.
Capitalism is already dead but most don’t realize it yet.
Kanye’s favorite tribe is about to show everyone who owns it all.
ESG was step 1.
Capitalism is already dead but most don’t realize it yet.
Kanye’s favorite tribe is about to show everyone who owns it all.
Posted on 11/16/22 at 10:40 am to Bamafig
I'd love for the efficient well intentioned government to have control of my money
Posted on 11/16/22 at 11:24 am to Fox McCloud
quote:
Idiotic comment, this has zero implications on your “buying freedom”
people upvoting this simply lack enough imagination to see where this road ends IMO
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