Texas SOT

Y'all ready for FedCoin™?

The #1 community for Gun Owners in Texas

Member Benefits:

  • Fewer Ads!
  • Discuss all aspects of firearm ownership
  • Discuss anti-gun legislation
  • Buy, sell, and trade in the classified section
  • Chat with Local gun shops, ranges, trainers & other businesses
  • Discover free outdoor shooting areas
  • View up to date on firearm-related events
  • Share photos & video with other members
  • ...and so much more!
  • TheDan

    deplorable malcontent scofflaw
    Rating - 100%
    8   0   0
    Nov 11, 2008
    27,551
    96
    Austin - Rockdale
    "Fed’s Brainard Says US Can’t Not Have a CBDC in a World in Which Others Have Them"

    So Bretton Woods v3.0, or whatever they call the current monetary system, is definitely coming to an end. The IMF even said at the end of last year we're facing a "new Bretton Woods moment", whatever the hell that means. I suspect they are going to switch to a central bank digital currency either when or right before we start to see hyper inflation. All the other bullshit going on right now is a great distraction, too.

    What is really sinister about this, other than they'll be fixing the exchange rate from the old currency to the new and not in your favor, is that it'll weaponize all the positive features of existing crypto currencies by centralizing the control. They will have a permanent ledger of all your transactions big or small, and they could limit what you can spend currency on, or even set things like stimulus or tax refunds to expire to force you into spending. Every single transaction could be taxed in realtime.

    There's still a lot of questions about how they would roll it out, but I do think it's coming. Will cash be outlawed, or will you just be branded a right wing extremist for using it? Maybe cash will be declared a public health hazard? Would everyone get a FedWallet™, or would your bank issue digital wallets, and then those tie back to the central ledger through your bank? Superficial difference, really...

    There are some positives like eliminating the need for payment processors like PayPal. Should cut down on merchant fees, too. Of course these are things we could do with existing decentralized crypto currencies, so we don't need a government mandate for that...

    If anyone thinks this no big deal, the 15sec of Elizabeth Warren talking in this video should be enough for you.
    Venture Surplus ad
     

    TheDan

    deplorable malcontent scofflaw
    Rating - 100%
    8   0   0
    Nov 11, 2008
    27,551
    96
    Austin - Rockdale
    And this is why I stay with decentralized cryptos. I don't trust the Fed.
    Unfortunately I think this will reduce the use of decentralized currencies as a CBDC would have all the ease of use features of crypto plus you'll be able to pay your mortgage and taxes with it. All the normies will think you're weird for not using it.

    Good example is 90% junk silver. There's no reason people couldn't have kept using it while FRNs inflated their value away, but us weirdo silver collectors just horde them.
     

    Grumps21

    TGT Addict
    TGT Supporter
    Rating - 100%
    1   0   0
    Apr 28, 2021
    4,032
    96
    Houston
    I just want to be left the fuk alone. They need to stop screwing with shit. I don’t want lane assist on my cars, I don’t want electric cars, I don’t want solar or wind anything, I don’t want the fool in govt tellimg me what I can and cannot do for my own good, and I sure as hell dont need a Fuking digital currency.
     

    TheDan

    deplorable malcontent scofflaw
    Rating - 100%
    8   0   0
    Nov 11, 2008
    27,551
    96
    Austin - Rockdale
    Just the tip of a very ugly iceberg.
    This isn't really directed at you, but comments like this are a big underestimation of what's going on with our monetary system and how we're controlled. We have a hundred threads about the stupid virus or kneeling athletes, and it's all just a distraction.

    What happens with the next monetary system directly determines our level of freedom.

    I just want to be left the fuk alone.
    Me, too. What are some strategies we can employ to keep our business our own?
     

    popper

    TGT Addict
    Rating - 0%
    0   0   0
    Apr 23, 2013
    3,000
    96
    "they'll be fixing the exchange rate from the old currency to the new and not in your favor,"
    Exactly what the EU did with the Euro. Exactly what the Fed and Gov. want. Italy and Greece got screwed in the re-alignment and Eu refused to help when they almost went bust.
     

    Grumps21

    TGT Addict
    TGT Supporter
    Rating - 100%
    1   0   0
    Apr 28, 2021
    4,032
    96
    Houston
    "they'll be fixing the exchange rate from the old currency to the new and not in your favor,"
    Exactly what the EU did with the Euro. Exactly what the Fed and Gov. want. Italy and Greece got screwed in the re-alignment and Eu refused to help when they almost went bust.
    Yep, wife is Greek and I heard all about it. Wasn’t pretty either. You know the Greeks with the super loud yelling and flailing of hands when they are emotional . Left the conversation with three black eyes. Believe me, it is possible with the Greeks, LOL. I love her though, black eyes and all, and agree that they got royally screwed.
     

    TheDan

    deplorable malcontent scofflaw
    Rating - 100%
    8   0   0
    Nov 11, 2008
    27,551
    96
    Austin - Rockdale
    Biden's nominee for Comptroller of the Currency published a proposal titled "The People's Ledger" on how the Federal Reserve should be able to deposit stimulus funds directly into the accounts of people they deem should get it, as well as directly deducting funds from accounts in order to contract money supply.

    Another inch closer...

     

    Sasquatch

    TGT Addict
    Rating - 100%
    3   0   0
    Apr 20, 2020
    6,590
    96
    Magnolia
    Biden's nominee for Comptroller of the Currency published a proposal titled "The People's Ledger" on how the Federal Reserve should be able to deposit stimulus funds directly into the accounts of people they deem should get it, as well as directly deducting funds from accounts in order to contract money supply.

    Another inch closer...


    That sounds communist as hell. "The People's Ledger" sounds like something from Russia or Red China.

    I don't want my money "democratized" - I want my money to be left the hell alone, and in a form that allows privacy and stability.

    I don't want the government having access to every transaction I make. I don't want any bank or bureaucrat freezing a transaction because it doesn't comform to their beliefs or whims.

    Barter is going to be big among those who seek to avoid the prying eyes of the communists, or using alternate forms of money - non-government controlled cryptocurrency, precious metals, jewels - whatever. The problem is going to be that to exist in any form other than packing up and moving into the wilds - you have to participate in their system. If gas stations no longer take cash - you'll have no choice but to pay by whatever the new money is. Same with grocery stores, clothing stores, etc.

    The *only* potential upside to a centralized digital currency - they could fire 90% of tax agents because taxes could be collected instantly as money is moved. No more need to file a tax return every year, the money gets split off as employers pay employees, or you make any retail purchase, etc. The remaining tax agents would be there to audit anomalies. But that's a pipe dream, and I don't like the trade offs even IF they fired all the bastards.
     
    Top Bottom