Is Biden admin pushing for the 666 mark?

[nc735]

What are CBDCs and could the Federal Reserve create one?

100% centralized digital money of course mean a huge step towards fascism and mark of the beast. Money is supposed to be decentralized.

"Specifically, he encouraged the Federal Reserve to continue researching the creation of a U.S. Central Bank Digital Currency, or CBDC.


“My Administration places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC,” Biden said in his executive order. "

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Have no idea what 666 means here. Just wanted a short topic. Mod can change to "mark of the beast" if mod wants to"

 

[danieldemol]

The superstitions the wealthy try to push on the poor in order to help the rich evade taxes just get more bizarre and less coherent all the time.

In my opinion.

 

[exchemist]

No, there is little to fear here.

It would just be a digital dollar, behaving like a paper dollar except that it could be transacted more easily and thus faster and more cheaply. Most central banks are now exploring digital versions of their currency, including the Bank of England.

It's nothing like a crypto currency, which is a speculative asset with a wildly fluctuating value. This would be a dollar, worth, er, a dollar, at all times.

But clearly it would be a big step, so the central banks want to make sure they have really understood the security issues and any other pitfalls, before taking the plunge.

 

[Debater Slayer]

It's certainly going to be hard to do the math when paying with $666 bills. I'll need to carry more change when Satan shows up.

 

[nc735]

No, there is little to fear here.

It would just be a digital dollar, behaving like a paper dollar except that it could be transacted more easily and thus faster and more cheaply. Most central banks are now exploring digital versions of their currency, including the Bank of England.

It's nothing like a crypto currency, which is a speculative asset with a wildly fluctuating value. This would be a dollar, worth, er, a dollar, at all times.

But clearly it would be a big step, so the central banks want to make sure they have really understood the security issues and any other pitfalls, before taking the plunge.

Together with the authoritarian Covid politics etc i can see where this would lead.

In such a society people become scared to say what they think because their money and life can be erased in a minute. Democracy then die and we become China. China have already rolled out their CBDC. Earlier this year i think.

 

[exchemist]

Together with the authoritarian Covid politics etc i can see where this would lead.

In such a society people become scared to say what they think because their money and life can be erased in a minute. Democracy then die and we become China. China have already rolled out their CBDC. Earlier this year i think.

Don't be absurd. What makes you think your money - let alone your life eek:!) - could be "erased in a minute", just because there is digital version of the currency you already entrust to your bank.

This is pure paranoia on your part.

 

[Secret Chief]

I love this forum.

 

[nc735]

Don't be absurd. What makes you think your money - let alone your life eek:!) - could be "erased in a minute", just because there is digital version of the currency you already entrust to your bank.

This is pure paranoia on your part.

Ask a Chinese if he/she please can write something negative about their government online. I don´t think they want their social credit score to plummet. Or disappear.

They now have a CBDC and massive surveillance. It does not happen overnight.

Next time they have a major economic crisis like 1929 the government may take extreme measures to survive. Even kill or steal if they get away with it. That is almost natural law i suppose.

You are being boiled slowly.

 

[exchemist]

Ask a Chinese if he/she please can write something negative about their government online. I don´t think they want their social credit score to plummet.

They now have a CBDC and massive surveillance. It does not happen overnight.

You are being boiled slowly.

OK, I agree of course that China is a surveillance society. It has been so for some years now. No doubt in such a society, with none of the checks we have in a western democracy, a digital currency (which China is only now piloting) would give them an extra surveillance tool over their citizens.

However in a modern democracy it is well understood that the state must not abuse personal privacy. This will be one of the issues that the task force will have to study and report on, before any decision to introduce a digital currency is made.

Furthermore a digital version of the dollar will not replace the conventional version: it will sit alongside it as an option. So any citizen nervous about it will not need to have anything to do with it. That makes it pretty useless as a state surveillance tool, even if there were to be no safeguards against abuse, which there will be.

 

[nc735]

OK, I agree of course that China is a surveillance society. It has been so for some years now. No doubt in such a society, with none of the checks we have in a western democracy, a digital currency (which China is only now piloting) would give them an extra surveillance tool over their citizens.

However in a modern democracy it is well understood that the state must not abuse personal privacy. This will be one of the issues that the task force will have to study and report on, before any decision to introduce a digital currency is made.

Furthermore a digital version of the dollar will not replace the conventional version: it will sit alongside it as an option. So any citizen nervous about it will not need to have anything to do with it. That makes it pretty useless as a state surveillance tool, even if there were to be no safeguards against abuse, which there will be.

Yes sure but i think many leaders during the so called pandemic proved quite well that democracy is not that important to them. Forced injections, nazi passports and Covid camps does not belong in a democracy.

 

[Brickjectivity]

I tentatively support this search for a digital currency. Here is why:

• It is difficult to buy or sell without a credit card, and its not free.
  
• Credit card companies are hard on small businesses
• Small businesses are getting squeezed too many ways right now and are dying
• Small business is the only way to support the middle class
• I am in or would like to be in the middle class and don't like policies against my class

 

[Revoltingest]

No, there is little to fear here.

I don't know about that. With government controlled
digital money there would be vulnerabilities...
- Total loss of anonymity for all transactions.
- Comprehensive surveillance of all transactions.
- Government could seize assets more easily & quickly.

 

[Guitar's Cry]

Yes sure but i think many leaders during the so called pandemic proved quite well that democracy is not that important to them. Forced injections, nazi passports and Covid camps does not belong in a democracy.

All leaders are sometimes forced to act against the will of the group. That's as true for a manager at McDonald's as a President of a country.

Also, has anything of those things occurred in the US in which no choice was available?

 

[metis]

We have already experienced what having too little fiscal regulation could result in. Just because something may be more convenient doesn't mean that it will all work out in the long run.

 

[Father Heathen]

Fundies could make an alternative cryptocurrency called "Christcoin."

 

[Father Heathen]

I don't know about that. With government controlled
digital money there would be vulnerabilities...
- Total loss of anonymity for all transactions.
- Comprehensive surveillance of all transactions.
- Government could seize assets more easily & quickly.

Which makes actual crypto look more appealing.

 

[exchemist]

Yes sure but i think many leaders during the so called pandemic proved quite well that democracy is not that important to them. Forced injections, nazi passports and Covid camps does not belong in a democracy.

No they didn't.

There have been no forced injections anywhere.

There have been no "nazi" passports.

There have been no "covid camps".

 

[nc735]

No they didn't.

There have been no forced injections anywhere.

There have been no "nazi" passports.

There have been no "covid camps".

Are you kidding?

Covid camps in Australia. Perhaps in other places to.
The nazis forced jews to carry "health passports".

Such a passport is a type of forced injection. In many countries they wanted to punish those who did not want to take the injections. Even prison.

 

[Heyo]

What are CBDCs and could the Federal Reserve create one?

100% centralized digital money of course mean a huge step towards fascism and the mark. Money is supposed to be decentralized.

"Specifically, he encouraged the Federal Reserve to continue researching the creation of a U.S. Central Bank Digital Currency, or CBDC.


“My Administration places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC,” Biden said in his executive order. "

If ever the €uro becomes digital-only, I'm going to print my own money and expect it to be widely successful.
Local currency - Wikipedia

 

[We Never Know]

Don't be absurd. What makes you think your money - let alone your life eek:!) - could be "erased in a minute", just because there is digital version of the currency you already entrust to your bank.

This is pure paranoia on your part.

Digital money...yes. It can be stolen by hackers.

"Hackers Steal Bitcoin, Crypto Worth $36 Million from Retirement Accounts"

https://www-thestreet-com.cdn.amppr...pto-worth-36-million-from-retirement-accounts