The Dollar Completely going digital

[epic is back]

  Some talk about the "virus" and things being shut down as a major problem, but what about the biggest problem.?

other than other people of course. Policing  themselves. hating everyone, not following , "rules" mask -up!! wear your mask you selfish person!!


not even that

its about cashless currency isnt it? 
the big problem isnt going to be this "virus" or businesses folding

its taking currency completely digital

this will be the nail in the coffin for the common people.

you havent been paying attention? coin shortage first

10 trillion has changed hands in 5 months. but not your hands. 10 trillion. think about it.

then things inflate so much you cannot carry 3 grand in your wallet to do simple shopping and errands

simple fix  go digital!!

then your money is gone. any time you disagree with the wrong person or policy. gone wiped out. or "withheld" just as it states in your tax info each year.

it will be "witheld"

from you

virus?  lol thats nothing to worry about

[Kwon]

Nail in the coffin for old people for sure, my generation doesn't like it, and the older generation definitely doesn't.

Last week i saw an old lady (maybe 10 years older than me) having trouble at the Supermarket.

She didn't understand how to pay with a card and the employees didn't help either (all arabs).

She had to scream "HELP ME! I NEED HELP!".

[epic is back]

yeah i know.

i dont like digital at all

i want to have hoards of cash in my house or safe,  in retirement 10 years away

but if no one accepts it,  not good

[Humble Narcissist]

The government definitely has more control over you id everything is digital.  It's like the people begging for government run healthcare.  They actually think having only one option (run by government bureaucrats) is a good thing.

[Marty Champions]

Credit cards bra

[SOMEPARTS]

#1 Buy rural land/move to the country. They can tax land but it will be the very last thing to be confiscated. Plant a garden and get your life grounded in reality.

#2 Buy real stuff and always be turning over your cash here and there to keep up with inflation. I flip a couple cars a year and it returns more than a savings account would, plus I always have access to that money rather than begging the bank for it out of my own account. Try to get 5 grand out of the bank cash and they act like you're Pablo Escobar.

#3 Speculate in stocks, crypto or anything else that you have no direct control over at your own peril. Yeah, it's easy but are things really the same as they were? NOPE.

[Marty Champions]

#1 Buy rural land/move to the country. They can tax land but it will be the very last thing to be confiscated. Plant a garden and get your life grounded in reality.

#2 Buy real stuff and always be turning over your cash here and there to keep up with inflation. I flip a couple cars a year and it returns more than a savings account would, plus I always have access to that money rather than begging the bank for it out of my own account. Try to get 5 grand out of the bank cash and they act like you're Pablo Escobar.

#3 Speculate in stocks, crypto or anything else that you have no direct control over at your own peril. Yeah, it's easy but are things really the same as they were? NOPE.

good advice. But its just endless cycycle of gov pissing people off it never ends,...our only hedge is to work hard and be self employed or work for 'them' 'they'

[epic is back]

Maybe goodgums has the right idea

Buy a tin trailer as a house so you can just hitch it up to your 1996 Jeep Cherokee And tow it off the land you arent allowed to ever own

Then sink all your cash into bitcoin the currency of the criminals on the dark interwewbs

[escrima]

Nail in the coffin for old people for sure, my generation doesn't like it, and the older generation definitely doesn't.

Last week i saw an old lady (maybe 10 years older than me) having trouble at the Supermarket.

She didn't understand how to pay with a card and the employees didn't help either (all arabs).

She had to scream "HELP ME! I NEED HELP!".

now i understand why you are a moron on here
I will be kinder to you

[Hypertrophy]

now i understand why you are a moron on here
I will be kinder to you

Eat shit. Kwon is one of the best posters on here. You are like a tick on the ass of the board.

[OneMoreRep]

  Some talk about the "virus" and things being shut down as a major problem, but what about the biggest problem.?

other than other people of course. Policing  themselves. hating everyone, not following , "rules" mask -up!! wear your mask you selfish person!!


not even that

its about cashless currency isnt it? 
the big problem isnt going to be this "virus" or businesses folding

its taking currency completely digital

this will be the nail in the coffin for the common people.

you havent been paying attention? coin shortage first

10 trillion has changed hands in 5 months. but not your hands. 10 trillion. think about it.

then things inflate so much you cannot carry 3 grand in your wallet to do simple shopping and errands

simple fix  go digital!!

then your money is gone. any time you disagree with the wrong person or policy. gone wiped out. or "withheld" just as it states in your tax info each year.

it will be "witheld"

from you

virus?  lol thats nothing to worry about

Any proof or merely speculation based on current events?

Also, a cashless society to what end? Our FIAT currency has really had no true intrinsic value for quite some time given that gold isn’t the standard anymore. Short of the government's imposed and assumed value on our currency, what real value does it have? Value in a broader sense I mean, as the true value of the dollar varies by decade and inflationary influence (compare value of the dollar from the 1960's vs 1990's and it's pretty drastic). Plus, given the incessant need to flood our economy with more money via stimulus packages + money printing, the value will undoubtedly drop in due time by way of hyperinflation (see: 1929).

What I believe we are heading towards is another great depression. This debt bubble could very well burst very soon and rapid deleveraging will ensue. Our government has already placed certain measures in place to slow down and ideally stop the process, but history tends to repeat itself given human nature. Not to mention that the coronavirus pandemic, the high unemployment that ensued and these stimulus packages x 2, have fast forwarded events into play.

"1"

[OneMoreRep]

Also, I ask because much of our currency is already digital in practice (debit + credit cards, wiring money, paying bills online, direct deposit, crypto etc).

It's this digitized approach to currency use that helps in our ability to have fractional reserve banking (where only a third of our cash supply is ever readily needed at any bank).

Or are you somehow leaning into the the stateless, cashless and classless society that falls more into the realm of communism?

"1"

[Jizmonkey]

Also, I ask because much of our currency is already digital in practice (debit + credit cards, wiring money, paying bills online, direct deposit, crypto etc).

It's this digitized approach to currency use that helps in our ability to have fractional reserve banking (where only a third of our cash supply is ever readily needed at any bank).

"1"

Yeah this is nothing new. There are many benefits from getting rid of cash. People are always trying to find a conspiracy theory’s.

They are even doing facial recognition payments now. 
https://www.latimes.com/business/technology/story/2020-08-14/facial-recognition-payment-technology?_amp=true&__twitter_impression=true
 

[OneMoreRep]

Yeah this is nothing new. There are many benefits from getting rid of cash. People are always trying to find a conspiracy theory’s.

They are even doing facial recognition payments now. 
https://www.latimes.com/business/technology/story/2020-08-14/facial-recognition-payment-technology?_amp=true&__twitter_impression=true

I get the convenience of having a cashless society in some ways, but we already participate in that. I can't tell you the last time I carried more than $5 in my wallet. I also have never purchased real estate, cars or major goods with hard cash, it's always been digital transactions.

What my question to Epic was is "a cashless society to what end?"

Because he wrote:

its taking currency completely digital

this will be the nail in the coffin for the common people.

then your money is gone. any time you disagree with the wrong person or policy. gone wiped out. or "withheld" just as it states in your tax info each year.

it will be "witheld"

from you

virus?  lol thats nothing to worry about

In other words, what dystopian society is he envisioning where our currency (hard or digital) will be withheld due to disagreements in our personal views of society?

Moreover, in my previous post above (after you quoted it), I even asked him if he was leaning on a communistic society as the direction he sees our country taking.

"1"

[Mayday]

What I believe we are heading towards is another great depression. This debt bubble could very well burst very soon and rapid deleveraging will ensue. Our government has already placed certain measures in place to slow down and ideally stop the process.

They are trying like crazy to avoid it. Banks are holding record levels of deposits, credit cards were being paid down en masse. That signals an unwinding of the leverage which is why all the QE. If a trillion unwinds and a trillion goes in, you haven't gone anywhere. The inflation hasn't started.

The direct creation of digital currency tells me they are concerned about velocity of money to the pockets of consumers. They want to make it as speedy as possible.

This is a very good move.

[IroNat]

Paper money is just a promise to pay.

It only has value because of the stability and strength of the government that backs it.

[Mr Anabolic]

Anyone who says this is a good idea is a fucking moron.

Government wants to be able to trace, track and tax everything.

The dollar will be rendered completely worthless at some point over the next decade.

BTW, Warren Buffet just bought a gold stock.  He's always hated gold.  FOMO Warren?  lol

[pellius]

Eat shit. Kwon is one of the best posters on here. You are like a tick on the ass of the board.

Both he and his gimmick Roast Beef Pecs. Imagine how desperate and lonely his life must be that he has to hang out on a board where everyone despises him.

[pellius]

They are trying like crazy to avoid it. Banks are holding record levels of deposits, credit cards were being paid down en masse. That signals an unwinding of the leverage which is why all the QE. If a trillion unwinds and a trillion goes in, you haven't gone anywhere. The inflation hasn't started.

The direct creation of digital currency tells me they are concerned about velocity of money to the pockets of consumers. They want to make it as speedy as possible.

This is a very good move.

What kind of work do you do? Your posts on various threads regarding this subject has caught my eye. You seem to have a very deep and thorough insight on the very complex subject of monetary policy.

Generally speaking, what do you see in the future. Is all this doom and gloom and inevitable collapse valid?

[Matt]

  Some talk about the "virus" and things being shut down as a major problem, but what about the biggest problem.?

other than other people of course. Policing  themselves. hating everyone, not following , "rules" mask -up!! wear your mask you selfish person!!


not even that

its about cashless currency isnt it? 
the big problem isnt going to be this "virus" or businesses folding

its taking currency completely digital

this will be the nail in the coffin for the common people.

you havent been paying attention? coin shortage first

10 trillion has changed hands in 5 months. but not your hands. 10 trillion. think about it.

then things inflate so much you cannot carry 3 grand in your wallet to do simple shopping and errands

simple fix  go digital!!

then your money is gone. any time you disagree with the wrong person or policy. gone wiped out. or "withheld" just as it states in your tax info each year.

it will be "witheld"

from you

virus?  lol thats nothing to worry about

Agreed - especially on your last point.

I feel like your posts are going to age very well, epic.

As not bright as I consider the average Canadian [or average person anywhere, for that matter], I would not have believed we would be in the current state we are in as of today, 2020-08-15, had you told me this in February/March.

But here we are...

It's odd to me - it's like people will go along with anything.  You'd think the powers that be would just implement communism, given how easy it is to herd the sheep.

[epic is back]

I think there was a collapse in the financial sector last fall

Not public but those who issue currency were realizing there is not enough debt to create more

Meaning they the issuers were holding something that couod no longer be of value

Debt creates money , and the usual big borrowers  couldn’t take on more debt

So they created or rather latched onto the virus as a reason to destroy people

In the markets , or in the private sectors , and ran small business into the ground  With the lockdown


PPE  was newly created debt loaned out so therefore the issuers again could offload more currency again And not get caught

The whole thing is broken

Now we go back up , hyperinflation is the only and last resort till it’s over for the issuers

[Mr Anabolic]

I think there was a collapse in the financial sector last fall

Not public but those who issue currency were realizing there is not enough debt to create more

Meaning they the issuers were holding something that couod no longer be of value

Debt creates money , and the usual big borrowers  couldn’t take on more debt

So they created or rather latched onto the virus as a reason to destroy people

In the markets , or in the private sectors , and ran small business into the ground  With the lockdown


PPE  was newly created debt loaned out so therefore the issuers again could offload more currency again And not get caught

The whole thing is broken

Now we go back up , hyperinflation is the only and last resort till it’s over for the issuers

Very good.

Overnight repo market was the beginning.  100's of billions poured in starting in Sept 2019.  Courtesy of the Fed's funny money machine.

It's all so fucking fake.  The final crash will be stupendous.

Got gold and silver?... you better.

[epic is back]

I’m not the only one who noticed

Lots of people especially those in finance know what happened

Most keep quiet to keep playing the game


Only problem is if we “ cash” out and go off into the sunset To play

If no one accepts our cash then there’s a big problem

This is why they want digital

[Campeon Del Mundo]

   The shutdown of the economy was a deliberate engineered event.  So the Federal Reserve can step in and
issue trillions in debt and kill the dollar.  Then the digital dollar will be revealed..

[Dieter]

HERE'S WHAT NO CASH ACTUALLY MEANS:

A cashless society means no cash. Zero. It doesn’t mean mostly cashless and you can still use a ‘wee bit of cash here & there’. Cashless means fully digital, fully traceable, fully controlled. I think those who support a cashless society aren’t fully aware of what they are asking for.

A cashless society means:
* If you are struggling with your mortgage on a particular month, you can’t do an odd job to get you through.
* Your child can’t go & help the local farmer to earn a bit of summer cash.
* No more cash slipped into the hands of a child as a good luck charm or from their grandparent when going on holidays.
* No more money in birthday cards.
* No more piggy banks for your child to collect pocket money & to learn about the value of earning.
* No more cash for a rainy day fund or for that something special you have been putting $20 a week away for.
* No more little jobs on the side because your wages barely cover the bills or put food on the table.
* No more charity collections.
* No more selling bits & pieces from your home that you no longer want/need for a bit of cash in return.
* No more cash gifts from relatives or loved ones.

What a cashless society does guarantee:
* Banks have full control of every single penny you own.
* Every transaction you make is recorded.
* All your movements & actions are traceable.
* Access to your money can be blocked at the click of a button when/if banks need ‘clarification’ from you which will take about 3 weeks, a thousand questions answered & five thousand passwords.
* You will have no choice but to declare & be taxed on every dollar in your possession.
* The government WILL decide what you can & cannot purchase.
* If your transactions are deemed in any way questionable, by those who create the questions, your money will be frozen, ‘for your own good’.

Forget about cash being dirty. Stop being so easily led. Cash has been around for a very, very, very long time & it gives you control over how you trade with the world. It gives you independence.

I heard a story where a man supposedly contracted Covid because of a $20 bill he had handled. There is the same chance of Covid being on a card as being on cash. If you cannot see how utterly ridiculous this assumption is then there is little hope.

If you are a customer, pay with cash. If you are a shop owner, remove those ridiculous signs that ask people to pay by card. Cash is a legal tender, it is our right to pay with cash. Banks are making it increasingly difficult to lodge cash & that has nothing to do with a virus, nor has this ‘dirty money’ trend.

Please open your eyes. Please stop believing everything you are being told. Almost every single topic in today’s world is tainted with corruption & hidden agendas.

Please stop telling me & others like me that we are what’s wrong with the world when you hail the most corrupt members of society as your heroes. Politics & greed is what is wrong with the world; not those who are trying to alert you to the reality in which you are blindly floating along whilst being immobilised by irrational fear. Fear created to keep you doing & believing in exactly what you are complacently doing.