War on Cash - the Next Phase
War on Cash - the Next PhaseFollow @KnightsTempOrg
Governments and central banks hate cash. When you can pay in cash, your transactions are anonymous, impossible to trace and difficult to tax. Cash gives people freedom, and makes it impossible for the banks to charge people for holding their money - because the answer to their so-called negative interest rates is simply to draw your money out and hold cash. This is why these professional crooks are so keen to use every excuse to abolish cash.
And they are making progress. The Federal Reserve is working with scientists at the Massachusetts Institute of Technology to develop a dollar form of digital currency - a move that would advance their long-running war on cash to a frightening degree.
Their big new weapon in the war on cash is central bank digital currency, known as CBDC. Unlike cryptos, CBCDs aren’t new currencies. They’ll still be dollars, euros, yen or yuan, just as they are today. But these currencies will only be digital; there won’t be any paper money or cash allowed.
Balances can be held in digital wallets or digital vaults without the use of traditional banks. Their advocates stress the convenience, security and cheapness for customers, but that's not why Communist China is leading the way with CBDCs. The real driving force behind the Chinese CBDC is surveillance. China already uses facial recognition software, mobile phone GPS tracking and the purchase of plane or train tickets to track their citizens. This surveillance can be used to detect anti-state activities and to arrest dissidents or anyone who doesn’t strictly follow government orders.
If cash is gone, there is only one way to escape digital surveillance of wealth — physical gold. And only one way to avoid it in your daily life - the use of fully private crypto-currencies.