Is digital currency being forced upon us in name of c19? Sep 9 2020 03:57PM more by 2small4porn
Tags: Random
Just heard a bit of Joe Rogan podcast w Adam Curry, supposedly the OG of podcasting. What’s interesting is that his guest theorizes that part of the reason why the latest stimulus checks was held up was because govt/big bankers wants to force digital currency upon the masses. Supposedly the govt has already created Federal digital currency accounts for everyone and linked it w SSN or equivalent . In lieu of sending everyone checks, bankers/govt wants to send everyone w SSN a federal debit card associated w SSN.
Why would govt want to force everyone to switch to essentially a federal debit card for all transactions? Ans. More control. Unlike paper currency, we can stash our cash under our mattress to spend as we please in the future. With digital currency, if you’re accused of wrong doing, The govt can turn off your Federal debit card like turning off tap water. Additionally govt can keep track of your whereabouts and transactions. Imagine if you had to tip your favorite Spearmint Rhino gal with traceable digital currency?
At first I listened to this new conspiracy theory out of novelty and disbelief. Then, ironically, I stopped by Rancho Cucamonga at a Ranch 99 supermarket for a quick bobba and learned that the supermarket is no longer accepting cash transactions, but only credit or debit card transactions!
Now I’m not so sure how far fetched this conspiracy theory is?
The pandemic provides them with perfect excuse too, how convenient.
The govt needs to get on it before Silicon Valley does.
Privacy is a thing of the past.
I doubt they could or would force that upon this capitalist market. The "rich" that likes to hide their money to off-shore accounts would be to easy to trace and tax. The banking and finance lobbyist would put a stop to any legislation hinting at anything the government can put a trace on all monetary and financial transactions. The banks would lose "wealthy" customers wanting to hide their riches from being traced and taxed. We are a long way off from that ever becoming a reality.
it is their money not ours. We foolishly just all accept it and give it value. When they decide to take their currency digital, they will.
C19 advanced many agendas. They will need 80% of the population to go along with a no cash/ digital currency.. The younger people being accustomed to using bank cards and digital transaction it will be easy for them to accept it in the future as the older generation dies off. Ask yourself ,how much your transactions do you do digitally already?
As for the so called rich people hiding their money. They might be perceived as rich to us who see ourselves as middle class but they are lower middle class to the true financial wealth holders of the world. The owners of the banks want to have their political arms to be allowed to tax every transaction and have an unobfuscated accounting of their subjects wealth.
Walmart's self checkouts are no longer accepting cash. So l started going to the cashier again but they only have one or two registers open and the line is long.
How long of a grace period would we have to redeem our currency?
That’s interesting to hear about Walmart not taking cash w self checkout machines. I think there is a concerted effort to phase out cash.
My first observation was months ago with Bank of America closing some many of its branches and curtailing the remaining branches’ hours. The lines for a live person teller is so long that you’re almost being badgered with the long wait to use the ATM machines, which for some businesses isn’t conducive.
I think just last week, Chase bank has started consolidating branches and limiting branch hours. Hence, this further ushers people more to digital banking.
I know these banks are trying to cut overheads in this recession but I think banks are also pushing the masses into automated/ATM/Phone app transactions.
I think the middle and low socioeconomic status people have already bought in. Most of my friends are using credit and debit cards to do all their purchases for rewards points. The lower Socioeconomic class have for years been issued EBT cards.
I read that FaceBook has partnered up again with those 2 rich twins that sued and won a settlement with FB that they helped found FB. These Harvard twins invested heavily into bitcoin and more importantly the blockchain crypto-currency technology. Facebook reached out to their former foes to leverage the twins’ expertise to develop a Facebook cryptocurrency. I bet there’s more FB members than there are citizens in most countries. Imagine if FB had its own digital currency? A Facebook digital currency could theoretically rival the US Dollar, the Chinese Yuan to the point FB can manipulate the market.
I used to think FB was just a glorified MySpace but it’s virtually it’s own digital nation-state.
I think the toughest group to get buyIn for 100% digital currency may be the upper class, who has the most money to hide.
Walmart's self-check out are still accepting cash. They might have limited it because of the coin shortages and they would not be able to give you exact change.
A lot of places will still take cash if you have exact change.
That is an awful idea and the citizens should riot in the streets like they do in France over this.
Do you like the idea of your every single financial move tracked?
I don't want anyone to know about how much booze I buy or when I go to the Dispensaries or when I see someone from HX. All of these transactions are handled in CASH.
Cash gives us some form of privacy in this over connected data mining dystopia we live in today.
With the pandemic, practically nobody wanted to be handling (dirty) cash. The fact that the lockdowns went on for so long it kind of proved that we could operate as a society without real cash. I have already seen a few stores that state that they no longer take cash, under no duress yet from the gov to do so. No doubt the IRS is jumping for joy in that they can literally track any electronic transfer now but I think the seed for this thinking is from much farther back. It has been known for quite a long time now that our currency probably costs more to produce than what its face value is.
and of course the gov's response to the people who are up in arms about it will be; "If you are doing nothing wrong, you have nothing to fear!" I'm not particularly thrilled about it either, but it does appear to be a natural evolution of things. Thank God gift cards and burner phones are so ubiquitous.
The amount of physical currency in circulation will shrink as years pass. But this not driven by the government. Business and customers have modernize.
BTW there are plenty of business that still want to accept cash when VISA & American Express charge high transaction fees.
Not accepting cash is actually a federal crime. Right on the bill it says: "This note is legal tender for all debts private and public." Of course, the intended recipient could simply refuse to provide the goods or services.
Absolutely ridiculous lol. Banks are not coughing up all this information unless the government specifically asks for it, and with millions of people in the country, who's asking for yours? You're not that important, give me a break. Any cybersecurity expert worth his salt will tell the best way to not get tracked is to do what everyone else is doing, but if you're THAT worried, why don't you just buy a bunch of prepaid debit cards or "wash" your money in crypto?
You're worried that big government is going to hire someone to follow you around just because you're using credit cards, yet you're using sites like HX. Be honest, you don't really give a shit lol
Joe Rogan and Adam Curry? We are basing the future of cash on a the opining of a comedian who made people eat bugs on tv and a MTV VJ with poofy hair who became podcasters?
I am not worried about anyone "following me around" and yes I am not that interesting.
However, you must consider that this info could easily go to your health insurance provider who will jack your costs or deny coverage because they think you do too many vices. There are other examples of this but I digress.
If you don't care that's fine, but don't advocate for the fall of the last bastion of financial privacy we have.
Spare me the crypto crap, crypto is not private and not untraceable, that has been proven time and again. Also, until crypto is as frictionless as cash or CC's it will never go mainstream.
Whether you like it or not, we are moving toward a cashless society, because
it is more efficient way of conducting business. The battle will be over the level of
tranparency in regards to all transactions. The government is watching us but we
are the government and should be allowed to know where the government spends
our money.
I don't know if it is a case of being "forced" as much as a natural evolution as more stores move to non-cash transactions. Except for the 1%-2% fees they pay for credit card transactions, cashless payment systems have a lot of benefits (reduced "skimming", cleaner from a pathogen standpoint, instant accounting, and yes - traceability, etc.) The gov is eventually going to ask "why are we making paper money and coins if nobody is using them?" Especially when you take into account the cost of making that money, transporting to the point of use, disposing of old bills, and chasing down counterfeiters. I see the move to a cashless society as just a natural evolution in currency. And I don't think the gov is going to be too sympathetic in taking into account the need for paper and coinage money when the time comes that it's primary use is in illegal activities.
We won't be able to fight this evolution so you might as well start planning on how you are going to deal with it when the time comes.
PS - I carry 500 in cash on me at all times, and the ONLY time I have used it in the past 2 years is for my special "extracurricular" activities. I actually like the cashless system - but I do feel sorry for you married guys! But don't worry, necessity is the mother of invention. We will come up with something.
