Fedcoin digital money

Digital Dollar is Inevitable – Giving Government Total Control – If We Let It

We are in essence already (sort of) on a digital dollar. Direct Deposit / Paychecks. Credit Cards. Debit Cards. PayPal. Venmo. Apple Pay. Etc..

So, why would we need a Digital Dollar?

What we experience today are dollars that move digitally. Not a “digital dollar”. Not a dollar that has been issued digitally. Yet… However it is an inevitability that we will see the Fed bring out Fedcoin (or whatever they call it). When? I’ll bet it will be sooner than many think…

A Dollar That Has Been Issued Digitally

Why inevitable? The issuance of currency in electronic form is their “Holy Grail”. Invoking monetary / fiscal policy, being able to do it from core software rather than physical money and its management thereof.

Tax collection? Gamechanger. A centralized system that will monitor / track all transactions.

A political tool. Instant access to “wallets” and money supply of nations, businesses, individuals. The ability to “incentivize” or, shut it off in an instant.

To monitor every, single, dollar, transaction, period. By doing that they can instantly invoke fiscal monetary policy (and whatever other incentivized policies).

Sound terrifying? Well, it does sound that way to me. Digital currency means Total Control.

This particularly appeals to the Peoples Bank of China, which is why they are leading the way right now with the digital yuan. It’s perfect for the CCP. However this does not really align with American values of liberty and freedom (or what we would like them to be).

Digital Dollar Privacy Protection Laws

The government will potentially know everything about you. To protect us, laws will need to be carefully crafted in this regard. But how will that turn out? We’ll see I guess…

The money supply has matured throughout the timeframe of technology. Over the last 10,000 years, the material form that money has taken has changed considerably—from barter, cattle and cowrie shells to coins, paper money, and today’s electronic currency. Is this just the next evolutionary step?

( Investopedia – History of Money )

KITCO News

Here’s Michelle Makori, editor-in-chief of KITCO News, interviewing Cameron Chell, executive chairman of CurrencyWorks.

Digital, state-issued currency is the “inevitable” next step of our economic evolution, says Chell, who concedes it can be a “scary proposition.”

He said that digital dollars, which fundamentally function differently a dollar that is digital, will eventually be adopted by governments.

“Ultimately, it is much more convenient for people to use it as well, so I think adoption is going to become inevitable as well, but if we are not careful with our policies and our laws, we are in for a controlled society,”. 

Why post this? I said I wouldn’t post about politically-charged articles. Well, yes, a digital dollar will certainly go through an implementation phase which includes political issues surrounding our American ideals.

I post this because I run and administer a preparedness site. And the digital dollar appears to be coming. How can we prepare for a Fed digital currency? A time when there is no longer any physical federal currency.

Well, that’s the question isn’t it… I suppose one will either have to accept its implementation, or (somehow) survive outside of the system (seemingly nearly impossible).

Food for thought.

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45 Comments

  1. The Chinese are already doing some of this; I think several of us here saw articles about their digital currency credits with expiration dates to keep people spending rather than saving.

    This could arrive here quickly if the Fed goes ahead with their digital currency.

    I think every economy has sprouted work-arounds. Barter, trading, metals and other valued items in lieu of currency… that sort of thing. I have given a lot of thought to what would work in this environment, and I think these sort of alternatives are key. Acquire skills and trade-worthy items.

  2. A digital American currency would be a major mistake. The Chinese will attack our currency in mass and destroy our country. Prepare against a rise in cyber attacks.
    Gold.
    Silver.
    Barter items (a long list).
    Ammunition.
    Food, water and medicines.
    US Dollar

  3. Digital Dollar.
    Another in the Death by a Thousand Cuts of our Country.

    Control the Food
    Control the Money
    You Control the People

    We lose the Country without a single shot fired. “They” don’t need to take guns or anything else away. They win by sure default.
    Who here seriously does not think this Covid and the Death Jab is not just a trial run?
    As soon as They convert to Digital Dollars it’s all over but the “What the hell happened”?????

  4. Convenient way for the feds to devalue any savings one might have. Anything in the bank will be automatically converted; cash will have to be traded in for digital credits. It seems like the wisest thing to do would be to spend as much as possible on supplies and barter items ASAP.

  5. And given the “See something, Say something” Karen culture our Media-Gov.com has created EXPECT that you’ll have to hide and/or set up misdirecting sacrificial “Horded Supplies” as they will call them.

    If you don’t hold AND Protect them, you don’t own them. Best protection from a thieving Government is misdirection, disinformation and hiding/setting up sacrificial supplies.

    Worked in the former Soviet Union, That’s how folks survived the Ukrainian Holodomor (look it up). Worked in Venezuela. Everybody on this list should know the history of Socialism, nuff said.

    Control and population reduction. In my 60+ years I’ve never seen so much effort on the part of my Government to “Protect” me from ANYTHING.

    They want to “Protect Me” from a bad flu “Plague” (with a less than 2% death rate) with Emergency Use ONLY Jabs.

    They want to “Protect Me” from using “dirty virus laden Paper Money” and Protect me from Fraud via FED Coin or such.

    Chipmunk is correct, E-Dollars are the EASY way to Re-Value (read rob ya) the Money you happen to have and your salaries-pensions.

    Soon enough today will be the “Good Old Days”

    1. Sadly Ken nobody knows. It’s been a working legislation for several years. I heard of it during Obama’s time in office. Quashed by Republicans as the Too Big To Fail Banks saw no profit in it for them.

      Now the Fed has gotten behind it. I am watching for the Big Banks to chime in once Congress makes it profitable for them.

      The Democrats have a oddly fractious Majority and a surprising amount of Resistance from the Moderate Democrats. Senator Manchin from WV has been MORE a Conservative Republican than anybody else in the Senate.

      I expect some sort of Crisis to dump this into law. Never let a Crisis go to waste And if needed create that Crisis said Obama’s right hand man.

    2. Ken J.
      Not sure if that was an open question but here’s my 2cents worth.
      It’s already here.
      Bitcoin and the likes, it’s just in the private sector for now. So it’s a proven possibility.
      As far as the .gov mandating the DD.
      Depends on if the Dems win 2022. DD could be in full swing within 5 years.
      Remembering it will take awhile to “cash-out” the people.
      AND there will be a LOT of resistance within the private sector.
      BUT then it happens Gold & Sliver will 100 fold it’s value.
      Seriously people like to hold their money in their hands. aka Paper or Metals.
      As you mentioned a LOT of money transactions are already electronic, for a lot it will make no differance at all.
      1. Work get paid via Direct Deposit
      2. Use Credit Cards to buy and pay with.
      3. Use computer to transfer assets with.
      4. Zero “Money” ever gets handled.
      5. Gov takes over Banks and has 100% control over the population.

      Simple as that.

      1. NRP
        Your 2cents worth!
        Is that digital 2cents or actual physical 2 copper pennies?
        Hehe

        1. Sam Smada:
          That 2cents worth should be paid in Sliver or an agreeable amount of food…
          Please remember the is a Preparedness site HAHAHA

          1. NRP & Blue,
            That 2 cents in silver ($25/ Troy oz) is about one 10# shot pellet. For what it’s worth.lol.

          2. Ditto
            I’ll take it!
            Even if it is a BB size. Physical silver is physical silver. We just can’t get too crazy and spend it all in one place. Hehe

    3. Ken, we already have a make believe currency. All they have to do get rid of the paper and bingo, electronic currency. But, the movers and shakers are doing everything they can to introduce crypto currency for mega profits and tax avoidance. The big question is, what will win out, the yuan, the dollar, bitcoin, ….. world currency????

  6. Ah the power of Digital Money you don’t have to Lop off extra zeros from your money when you Re-value it like Venezuela announced this week.

    Zero Hedge Venezuela To Chop Off Six Zeros From Bolivar In 3rd Currency Redenomination In 13 Years

    Snip: For example a single 1 million bolívar note would not currently be enough to buy a single cup of coffee, as a million bolivars is worth just over $0.32 US. The vast majority of working class people still need cash for daily transactions, including for public transit or local grocery and goods stores.

    And now the next iteration of an attempted “solution” to the ongoing crisis is a fresh currency redenomination, which will mark no less than the third one in 13 years. This time it will simply involve chopping off a lot of zeros to make things practically easier for cash transactions, as Bloomberg reports, “Venezuela is preparing once again to eliminate zeros from the national currency, in order to simplify daily transactions that hardly fit on a calculator or that require swiping the Credit Card several times to complete a purchase.”

    Starting in August the central bank will cut six zeros from the bolivar, thus a single dollar would cost 3.2 bolivars instead of the current whopping 3,219,000.

    The central bank move to delete a bunch of zeros is beginning to appear a semi-regular intervention given that stemming back to 2008 a total of eight zeros have been progressively removed.

    Socialism and uncontrolled money printing but I repeat myself…..

    Digital Dollars would make this even easier as you’d not have to print New Money every few months-years…

    And THUS the unpayable promises to Social Security and Retirement plans and and and can be paid for legally with worthless dollars.

    Yep it’s coming, what are you DOING about it friends?

  7. My paycheck is already electronically deposited. I’ll admit that I pay for almost everything with a credit card (then pay it off each month). That’s all electronic. Today I happened across a garage sale while walking my dog. I bought something with CASH. I’ve heard people say that we’ll have to always have some cash for transactions with each other, but it’s easier than ever for everyday people to exchange money with an app on their phone. The problem is that you have to have a smart phone. I have purposefully never gotten one of those. To “survive” in the new digital world, a smart phone is now a necessity. A necessity I don’t want.

    1. Wendy ,,,,,,,,,there is a attentive ,,,,to use silver ,i think we will see the day come when silver barter becomes common again ,we have been using silver in our trading post for 30 years ,how it works is we set a price on things based on the pre 1964 silver dollar or silver rounds. ,,today that’s 25 FRNs to one silver dollar , we don’t recognise c c as money in our community,, we have a exchange to trade FRNs for silver that’s separate from the trading post ,again no c cndthe hardest thing for most is to think in silver. ,,,,,,,,
      We have banned smartphones in the valley our community is in ,and I have blocked any cell towers on my land that surrounds the valley. ,my oh my how do we live with out that ????? Very well thank you ,,, we do have a private land line system and three Sat phones , we get skip radio at night from salt lake for news ,,,,yes you can live that way,,
      Because of business commitments some of us live out side of the valley , but knowing it there any time. Makes it home
      Tea and chocolate

      1. OH not to be argumentative BUT even if Your Trading Post accepts silver barter UNLESS your Suppliers of those goods accepts Silver as payment you still at some point have to EXCHANGE it for the Coin of the Realm, US Dollars or maybe Bitcoin or….

          1. KEN ,,,,,,,,a person has to stand for principals. And what you believe in , And do the right thing ,, we will not feed the beast,,

          2. All I’m saying is, I am surprised the IRS hasn’t caught up with you – that situation. Especially given that you’ve been pretty outspoken about it in the past. I would keep my mouth shut, if I were you (just some friendly advice)…

          3. KEN ,,,,,been dealing with the IRS for 55 years must be doing something right ,

          4. OH,
            I never knew the IRS allows buying and selling at a “trading post” with silver without issue. Do you pay your taxes in silver? (grin)
            ——-
            Don’t get me wrong, I love precious metals. But to say that silver is the only accepted currency at your business makes me wonder how you handle all that with the IRS. It would seem to me they would take quite an interest in not using “dollars” for transactions.

            Most people I know who “barter” (buy and sell) outside “the dollar”, or, via “cash only” do it quietly. Certainly not mentioning it on the internet!

          5. KEN ,,,,,,,,first rule never ‘make ‘ money. Run at a loss ,,, second. Be willing to pay tax accountant ,a pre 64 silver coin is legal tender at face value , , bullon rounds are a commodity just as is a jar of peaches is a commodity ,just a even trade ,IRS IS not a problem ,idaho sales tax is ,or can be ,, the only real problem we have had was a couple of years ago when we banned Amazon ,some people made noise and government types came for a look see , but that wasn’t a tax issue ,those people were cut off at the trading post and had to drive 200miles + for supplies.
            I need to get back to work ,

    2. The hard part of not having a cell phone for me is the inconvenience for other people. Usually if they require a cell phone I can just walk away (for example, parties or get-togethers where you have to pay in advance with venmo) but I hate it when I have to do something or get information that’s only available through an app and I have to call someone else to get it for me.

      I’m holding out for now, and I hope never to truly need one, but more and more employers require them for employment, restaurants for reservations or takeout, etc. Dad wanted Chinese a few weeks ago and they didn’t want to take walkins. You had to order on their app.

      We’ve sold our souls for convenience, and the sad part is that most people realize it and just go along because “everyone else is doing it.”

      1. Our ‘phone’ is 12 years old and flips with no camera, but thinking of diving in with a upgrade………the kids seem to only respond to text, most of the time sigh……

    3. no its not a necessity. we lived for years without one. just refuse to get one. at and t had a stroke when i did not pay on go phone for 20 days,, was not convenient to do so. sent 3 messages to pay for their service. intentionally delayed. turned off all data for the thrives to steal dollars. stopped the steal.

  8. NPR says there will be a LOT of resistance from the private sector, Wrong! Hate to give my age away, but I remember going to the pay window on Friday and getting paid in Cash, then they went to Pay Checks and you had to get a bank account or pay a fee to get your check cashed, then they went to Direct Deposit, and every time they made a change, people were glad to jump on board, they said it was just so convenient, they never resisted in the least. Very few people now use cash, Every hear the saying “If you don’t use it you lose it” if people only used cash instead of credit cards, cash would still be King. Go digital dollars, and no vac no service, wonder what could be next. Maybe a Mark! Trekker Out

    1. When I went to Germany many years ago there was a kerfluffle going on. Seems the .gov had decided to get rid of coins altogether, and in rebellion people started paying ONLY with coins. I thought that was entertaining.

  9. It is partially here
    Direct deposits and credit cards/Venmo
    But the stimulus checks came that way and no one complained
    The EBT “food stamps” is on a card and amount that is applicable gets deducted ( if it is deemed that EBT can’t be used it tally up that difference and then person has to use another form to pay) so yes the government already implemented a form- probably refining the kinks as we speak
    In Germany cash is king! Their culture wants it that way and that’s what people do- they pay for pretty much everything in Euros/cash. I never exchanged money when I visit- the relatives would go to pay with cash and I just put on credit card and they gave me cash instead😉

  10. So in Germany
    It’s all part of their culture/ upbringing
    Due to the panic of 1873 (a European depression ) the need to have a tangible form of money was ingrained- then add the WWII era where you had surveillance/monitoring by government and people (sounds familiar right/ we now call it see something say something) and the practical nature of Germans ( debt is to be avoided)
    They refuse to give up on cash – some places don’t even accept credit cards (gasp)
    no matter how inconvenient it is to carry around all those coins/ bills- credit cards are truly used if there’s no choice ( last resort not first line)

    1. Fireswamp,
      While I understand your point and appreciate your examples, that is yesterday and today, but may not hold up in the near future.

      Small businesses are being crushed. The big box and online giants would immediately adopt acceptance of the new digital currency. In fact, I can picture the gov working with a short list of mega businesses (We all know the names) to roll out processing the new digital currency. The rest of businesses will either get on board or eventually be locked out of the flow of the majority of transactions.

      Yes, I believe some small businesses will always thrive through trading, black market sort of commerce, but that will be crumbs compared to the economy as a whole. Set a redemption date for existing currency (maybe with a sweetener to make it seem like a win to many people) and soon you have lines of people giving up their fiat currency and getting digital credits to spend at all the big name companies. It gets rolled out, then the net tightens making it harder and harder to work around the system. Leaving 2 economies, the vast majority digital, the minority underground. The groundwork for this is already in place.

      1. SCG, it’s already creeping in. My DS who has a side hustle as a musician just told me people are tipping him in crypto, and he is set up to accept it. Just blew me away, I feel old.

  11. Local feed store doesn’t do digital…cash or check only…I’m guessing two reasons…to avoid the credit card surcharge, and hide a little from the IRS…same is true for a coupla local owned cafes.

    Trade…swapping what you have for what someone else has at an agreed to exchange rate…could be five dozen eggs for a half ham, a day’s labor for 3 square meals, or an ounce of gold for a tandem disc….currency…digital or paper…just widens the market place with ease of transporting it.

    I go to the grocery store…see a T-bone steak for $25…I ain’t giving $25 for one stinkin’ steak…but as long as enough folks will, that exchange rate ain’t coming down….if no one will, then everyone in the chain that brought that steak to the shelf must make the decision whether they can keep producing steaks for market for less dollars.

    1. Dennis,
      We have a butcher who also accepts no electronic payment methods. If it gets to a point where checks are gone and paper currency eliminated or abolished in some way he will have to make a choice. He may decide it’s not worth it to keep a retail business running In the shadows or by trade, or he could decide he needs the income and gives in. Time will tell.

      Our fiat currency and reserve currency status are being eroded from both within and from outside forces. I believe that unless something or someone manages to stop this momentum, we are almost certain to be facing digital currency. It may be national, or even international, but I don’t think we the public can stop this. Especially since so many people do not recognize this as the threat it is; far too many think it’s convenient, or just plain inevitable.

      1. SCG,,,,,,,,tell your butcher friend up in the redout there’s work , And he would be payed in silver if he so wants ,there’s a waiting list in some cases five months long for cut and wrap ,the underground is alive and well ,,lily on SB had a interesting comment about having to butcher live stock because of the lack of hay this year,
        Tea and chocolate

    2. I took my niece to a rock fair yesterday and her mother was very careful to remind her to get a price under the money she had so she could pay the taxes. Apparently they’d already discussed this. First purchase, she didn’t question the price — $5 even. Second one, she put down 6$ when the woman asked for $5 and the woman explained that there were no taxes with cash sales. : )

      1. Lauren,
        Now it’s up to you to explain to her how to “haggle” with those old hairy-eared rock hounds!

        1. This is the first time I took her with me. And she LOVED it! One lesson at a time.

          I was so proud of her. On the way there (she’s 9) she was telling me why it’s a bad idea to get the vaccine. : ) Amazing little sponge, and developing into a clear thinker as well.

  12. There are advertisements on TV now for a card for children/teens. States that parents have control over the amount deposited and is supposed to teach children how to handle finances! Humans will be born, are being born, who will never have put their hands on greenbacks or coin of the realm.

  13. Digital currency.
    So much easier/convenient for the .gov trackers to follow the individual(s).

    Follow the money?
    Yeah, they are playing the same game with us.
    Have a friend, who bought a house. They asked for a down payment.
    He had cash that he saved for this purchase. The loaning bank did not accept his cash….no paper trail.

    1. Joe c
      Reason I saved our deposit saving account data. If we ever had to prove where it came from I have that paper work-jic.
      We went through the same thing when we gave one of the niece’s money for her down payment. We had to prove it came from the saving account(put the $$ back in ), then wrote her a check.
      Lending institutions are worried it is drug $$$$…so you have to prove where it came from before they will accept it. Only for us poor little peons do those rules apply.🙄🤐

  14. There isnt much business that is not conducted digitally now days, its all electronic transfers, chip cards and stuff like Paypal, honestly you would have to live in a total vacuum to not be doing at least some stuff digitally. Payrolls, government benefits, automatic deposits and payments, for the moment its convenient, theres always some boogeyman thats going to get us, been seeing a pattern with some of this stuff, some of us got to keep on keepin on, we dont have the option of being total hermits, no offense Hermit,,,

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