Centralized Digital Dollar Communism Is Coming To America: U.S. Central Bank Digital Currency (CBDC) Project is set to launch! – May 3, 2021,

Imagine the government had the ability to shut your money down, imagine there was a kill switch to your bank account, and imagine a Bernie Sanders or an Alexandria Ocasio-Cortez type became your president. Imagine their political slogan was “it’s time we make the Rich Pay Their fair share” based on the history of democracies, it’s very likely that the right radical politician could confiscate what they perceive to be the wealth of any citizen they want.

Not only has America created a central bank, that was never supposed to happen to begin with, now there is a pilot project funded by Accenture Plc and the Digital Dollar Foundation to promote research into a U.S. central bank digital currency (CBDC). Now, we all know this research is going to come back with positive data because without positive data Accenture and the Digital Dollar Foundation will cease to exist.

What this digital dollar is all about is further confiscation of private property rights, liberty, and freedom. I never questioned cryptocurrencies’ right to existence, but its success is what’s fueling this idea that the central banks of the world should be the issuer of currency.

Because of all the financial nonsense that’s occurring in the world today, my mind keeps drifting back to Nineteen Eighty-Four. There’s only one reason why the price of Bitcoin continues to climb and it’s that the U.S Federal Reserve can’t raise interest rates. The other day when Bitcoin temporarily dipped below $50,000 I wrote that I thought Bitcoin found a new bottom.

I genuinely believe that unless interest rates are raised, Bitcoin will go to $1 million possibly within the next 5 years. This Bitcoin boom will help to fuel the idea that Central Banks should have a centralized Digital Dollar, furthermore, a centralized digital dollar facilitates the socialist believers in an equitable economy because now all they need is Socialist Politician with the ‘Bravery’ to confiscate property from people and entities the socialist government deems as rich.

Now, the reality of the situation is that the confiscation of wealth, won’t have to be overt, in America Joe Biden has already promised to increase the amount of IS agents who will harass America’s private sector, so let’s say there’s a digital dollar that we’re all FORCED to use, and the IRS deems you to be a tax cheat, which equates to you being a criminal, under this digital dollar scenario they could freeze your digital dollars.

There have already been attempts to freeze people’s Bitcoins, in India (THE LARGEST DEMOCRACY IN THE WORLD) you can go to jail for having Bitcoin. People in the West think it can’t happen here, but it doesn’t have to happen overtly and if the entire economy is digitized you’ll have no escape.

Already there are companies that don’t accept cash, the killing of small businesses via these draconian lockdown measures during COVID-19 is accelerating the idea of a cashless society. Although I’m not against people voluntarily using digital dollars, being forced to use digital dollars is something entirely different.

How a centralized digital dollar will destroy Bitcoin

I keep reading about people saying Bitcoin is digital gold, well, Gold as money has pretty much been regulated out of existence, if the governments as well as the private sectors, weren’t manipulating the price of Gold, there’s no telling where the price would be. It’s hard for most people to grasp that central banks can click a mouse and purchase tons of gold, the actual problem central banks have with Gold is where to store it.

It’s regulations that stymie gold and will be regulations that destroy Bitcoin, the mining process for bitcoin, I’ve always argued is silly, it might sound crazy now, but all Leftists have to do is go on a campaign demonizing Bitcoin, because it’s not like everyone is getting rich with Bitcoin, one of the reasons it was so easy to get rid of a gold standard is that most people weren’t benefitting from it.

In a democracy, it’s mob rule, and if people aren’t benefiting from Bitcoin, what will most likely happen in digital dollar scenario is that people who don’t have Bitcoin, will stay silent when it’s regulated out of existence and as I’ve stated in the past the way to stop bitcoin is at the point of sale.

 

Meaning that if you were to accept Bitcoin as a form of payment, you could be hit with a tax and also have your taxes complicated via audit and other big-government measures. Even in the modern era, gold coins are considered something the affluent purchase. I can see a similar fate awaiting Bitcoin as using it for day-to-day purchases becomes too much of a headache.

To those of you thinking that digital currency communism can’t happen here, it’s already here and you’d better take it seriously.

Digital Dollar Project to launch five U.S. central bank digital currency pilots | reuters.com

 

Interesting times ahead!