The US is in the second phase of developing a CBDC as a way to control the people’s assets, actions, and possibly even act as a sort of “social credit score”.
The big idea behind these digital currencies is that they could “decentralize” financial transactions between people and eliminate the need for “centralized” banking.
Taken at face value, decentralized financial transactions are a great idea because it means nobody can shut down the network, payments can be made voluntarily between any two parties, and transaction costs can be minimized.
All good, in theory, until the U.S. government sinks its hooks in and ruins it…
The Chinese government has already begun to ruin “decentralized” transactions by creating a centralized digital currency. This has further emboldened the CCP’s control of its citizens through its social credit system.
The higher your score in the social credit system, the “better citizen” you are, and the more services you have access to. Sounds a bit dystopian, but the same thing could be coming to America.
In the United States, the Federal Reserve is exploring the same centralized digital currency idea that China has already implemented. The Fed calls it the U.S. central bank digital currency, or CBDC for short.
Fed Chairman Jerome Powell’s official statement on the CBDC as of January 2022 reads like it won’t happen anytime soon: “We look forward to engaging with the public, elected representatives, and a broad range of stakeholders as we examine the positives and negatives of a central bank digital currency in the United States.”
But like most things that politically appointed bankers say, it should be taken with a grain of salt. Here’s why…
Project “Hamilton” Enters Phase 2
You might think that if what Powell said above was true, it would be many months or even years before any sort of CBDC would be implemented in the U.S.
But Project Hamilton has moved past phase one (it was completed), and has recently moved into phase two according to journalist Corey Lynn.
Which means, this process is not just getting started; rather, it’s been in the works for quite some time.
And here’s the scary part:
Congressman Tom Emmer said that a CBDC would leave any American’s financial privacy “vulnerable to attack,” but would also “be used as a surveillance tool” and “would put the Fed on an insidious path akin to China’s digital authoritarianism.”
Lynn wrote that the Fed has even developed its own payment structure, which they plan to launch next year: “Laying the foundation for their CBDC program, the Fed has developed ‘a new instant payment infrastructure’ known as FedNow.”
Laying a foundation is something you do when you’re getting ready to build the whole thing, not something you do when you’re just “exploring an idea.”
Translation: The Fed is trying to take the United States into dangerous new territory.
“There’s No Limit to Tyranny Under CBDCs!”
According to the CBDC tracker, more than 100 countries are “on board” with this idea, and some have even started a pilot program.
That means quite a few countries are going to “go live” with a means of tracking every purchase you make and who you support politically (among other things).
Independent rapper and cultural commentator Zuby (who also holds a degree in computer science) has issued a dire warning:
“This is a very dangerous technology, these technologies can be used to enslave people. […] There’s no limit to how a potentially authoritarian or even tyrannical government could control and limit and monitor your behavior.”
The bottom line is, most people like the idea of Bitcoin, which frees people from centralized banking systems.
But a CBDC would enslave you to the central banks – the exact opposite of what blockchain technology was intended to do.
Move Your Financial Assets to a Safe Place (Before You Can’t)
The CBDC represents a huge threat to both your privacy and your wealth. That’s why I strongly recommend you hide your money before everything you do with it is tracked.
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To live freely is divine,
Location Independent Entrepreneur
P.S. The U.S. economy could become “cashless and tracked” at any moment. That’s a great reason to have some of your assets tucked away in a safe place. And I wrote a report that can help you do just that…