Death of the dollar

[myosin]

I hear you... I think you will start to find more offering services to give you cash for your BTC for a fee.

BTC ATM's would also be a way as well.

 

[captaincaveman]

“About the FedNow Service:
The Federal Reserve Banks are developing the FedNow Service to facilitate nationwide reach of instant payment services by financial institutions — regardless of size or geographic location — around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments at any time of day, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Access will be provided through the Federal Reserve's FedLine network, which serves more than 10,000 financial institutions directly or through their agents. For more information, visit FedNowExplorer.org”

Surely we all see the danger of this. It is amazing what people will sacrifice for convenience.
Instant purchase information - where, when, how much.
Patterned purchase information - where, when, how much, how long between purchases

(They already do this with credit and debit cards. Cash and currency alternatives throw a wrench in the data.)

With a single digital currency and the data provided by its use, predictive analytics and AI will be able to, for example, create false shortages and study the reactions of consumers without their knowledge. Where do people go in an area when they can't get gas at their usually spot? Where do they get chicken when they can't get it at the usual spot? How far are they willing to travel to get (1) items they want and (2) items they need.

The average American will gladly give them all this information and control after about 3 days of no food and water.
That is why, in my humble opinion, not average people are being allowed in to the USA. Their idea of freedom is very different than ours.

 

[Lil Ed]

First, I love some decentralization and anonymity. BUT - Unless strictly peer to peer (1 to 1), all cryptos need an "on ramp" and "off ramp" to exchange into currency to use in the real world. (Read about how cryptos must be exchanged into legal tender before one can buy property)

The Restrict Act (that purports to ban Tik Tok) can be twisted to make BTC and other crypto use "a danger to the stability of the United States" and made illegal. The Fed sees BTC as an attack on its hold on the economy.

Tread carefully in this area. The EYE ARE S is tracking this closely.

Hey CC, you got a pretty good track record of predicting FED decisions on the rates ?

 

[captaincaveman]

Hey CC, you got a pretty good track record of predicting FED decisions on the rates ?

I think the consensus is they will raise one more time (maybe .25) and pull back hard later in the year when the economy (real estate) starts to fall apart.

The repatriation of dollars into our economy after the weaponization AND the BRICS moves will cause an increase in inflations simply due to the number of dollars returning from foreign treasuries. The Fed is in a tough spot.

This is the danger of connecting our economy so intricately with economies and nations that do not have the same value for human life as we do, or share the same definition of freedom as we do. "Free" to many around the world is working for almost nothing, living in a tent, and having no hope of improving their lives. The USA cannot hook ourselves to these countries without ourselves being pulled down. This is basic economic law and human nature that NAFTA and GATT, etc. ignore on purpose.

My .02.

 

[Swiper]

It would be nice if we had free market capitalism in the USA. the interest rate would be set by free market forces not a few people sitting in a room deciding with the price of money should be. the free market should decide the interest rates.

 

[Tuffoldman]

First, I love some decentralization and anonymity. BUT - Unless strictly peer to peer (1 to 1), all cryptos need an "on ramp" and "off ramp" to exchange into currency to use in the real world. (Read about how cryptos must be exchanged into legal tender before one can buy property)

The Restrict Act (that purports to ban Tik Tok) can be twisted to make BTC and other crypto use "a danger to the stability of the United States" and made illegal. The Fed sees BTC as an attack on its hold on the economy.

Tread carefully in this area. The EYE ARE S is tracking this closely.

So easy even a caveman can explain it

 

[Swiper]

This is very informative.


If you have any cash savings buy gold bars.

 

[myosin]

Russia will be implementing a digital currency. That too will “expire” if you don’t spend it.

 

[myosin]

Since the new digital currency will be issued by the Central Bank of Russia, it means that:

• accounts of all individuals and companies will be on the Central Bank's server;
• Federal Security Service (FSB), financial monitoring, and tax authorities will have access to this data;
• authorities will be able to monitor any transaction;
• authorities will be able to see where and on what money is spent;
• a digital ruble can be programmed so that it can be used only in a certain location.

Who will have to make the transition to the digital ruble:

• state employees;
• social payments (which means millions of people).

Shelf life of the digital ruble:


There is a possibility that the new currency

 

[myosin]

Shelf life of the digital ruble:


There is a possibility that the new currency will have a shelf life. After its expiry, the money will vanish. That is, Russians will not be able to save and withdraw money. And it will also have to be spent before the expiry


date.


The digital ruble is a new and convenient way of control by the Russian authorities. It will make them able to restrict financial transactions, encourage the purchase of certain goods and forbid others with a single button.


Such a rapid introduction of the digital ruble might suggest that the Central Bank is preparing for a shortage of cash.

 

[myosin]

This is very informative.


If you have any cash savings buy gold bars.

I’m more of a silver guy but I REALLY KICK MYSELF for not buying a bunch of gold when it went down to $1600 several months ago.