The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...
They do say gold will crash in a liquidity crunch However, many of those holding precious metals are preparing for such an event. So they are unlikely to be forced sellers. The paper market would tank and hopefully collapse.
Hearing from an experienced investor who has survived adversity and prevailed is always motivating. It may be frightening when your portfolio goes from green to red, but if you have invested in strong firms, you should maintain growing them and stick to your goal.
Sharon Lee Peoples is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
erock33, Trouble is cash is only debt-based fiat currency which will soon have no value. The only solution is to awaken the people to the necessity of returning to intrinsic value currency because there is no other way out.
Digital money run by the government would probably make tracking and seizing your assets even easier! Perhaps at some point in time simply having cash will become a crime.
Buy Bitcoin, put it on a cold storage wallet, and thank me later. Also go read Edward Snowden’s Substack article titled Your Money AND Your Life to learn more about Central Bank Digital Currencies. It’s free and exposes how CBDC’s are actually fully programmable money.
Yes, imagine all of the digital dollars being programmed and programmed to have a negative interest rate. Then, it's either you spend or your savings goes down.
The main reason for doing this is to track money easier. Every penny you spend, what it's spent on and exactly how much money you take in will be known to the federal gov't at all times.
The fed will turn off your credit if the government doesn't agree with your political views. They will also know every single person you give money to. Their will be no ambiguity and we will truly become slaves to the government.
@@Yoshi92 Monero (XMR), Pirate Chain (ARRR), Haven (XHV) and other privacy cryptocurrencies. Bitcoin (BTC) is very traceable thanks to blockchain analysis that private firms heavily developed since Bitcoin's inception in 2009.
I think this will lead to the ability to cut off your access to finances altogether if they wish to. Right now, you can grab some cash and buy whatever you need from the store but in the future if there’s something you don’t comply with you’ll just get cut off and have no way of surviving.
@@alanlineberger6133there's no enlightening you if you don't have enough common sense to not invest 100% of your trust in a government that has been trying to desperately keep us imprisoned for two years. Tell me why they would not want to have full control of how you spend your money. They're already monitoring 600.00+ YEARLY purchases on cash apps to tax us more. It's not about being paranoid. It's about being realistic
@@TheLuci915 I live in Ecuador. If you haven't read the news in the past 20 years The drug War has spread like wild fire through Latin America. If you are looking at the monitoring of these electronic payments as tyranny, imagine when the drug dealer in the next town to me is receiving Daily payments of $1000 how thta makes everyone else feel. I apologize You are not paranoid you are rude and self centered
Why are you worried about it being tracked? If you have nothing to hide there is nothing to worry about. But yea I really don’t like the expiration date thing.
No retirement or even emergency savings. Complete enslavement until death. I imagine they will have to wipe away assets you currently own so everyone starts at the same amount. Can't have some people sidestepping the communism that have 401Ks and stocks already. "You will own nothing".. that includes the old people.
Politicians? The fed said they will do it without congress. Remember your money isn’t governed by politicians. It’s ran by the federal reserve. And there is nothing federal about them.
"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a moneyed aristocracy that has set the Government at defiance. The issuing power should be taken from the banks and restored to the people to whom it properly belongs." Thomas Jefferson
@@johnlee750 try to appreciate the quote because it is 100% correct. Also, who cares? You don’t take the timeframe into consideration, that(slavery) has been normalized since the beginning of mankind.
We need to inform the masses quicker lol.. cuz it seems this alone might be enough to convince the average person who knows little to nothing about crypto
The mark of the beast. If you don't have cash, you can be banned from buying and selling. It is like the no mask no entry. No mark, no purchase. Don't be fooled, this is the reason for the locktowns.
@@nathanaelbartholomew I think mark of the beast will be after we get used to this digital dollar in our phones for years. Then it will be on our hands in forehead
@@goalazo93 time is not enough. Things will happen by force. Just like this vazine thing was forced and rushed. You will see the same pattern. This age is coming to an end quickly. Don't relax. They have already installed 5g. Most of their equipment is in order. Watch out! Once they change the way people identify themselves. That will be the serious move.
@@nathanaelbartholomew the book of revelations was not ment to be prophetic, when referring to the mark of the beast they are actually referring to Emperor Nero. The people who wrote the book of revelations had a personal vendetta against Nero, and had to conceal it when writing the book of revelations. Now I don't mean to undermine you, its good to be cautious of what the government is doing but I would not correlate it to "end of the world shenanigans".
@@oldcountryman2795 what if want to buy a dresser 1000$ from a local. Am i gonna get taxed for that to. With paper money i can buy it without getting taxed
Maybe you'll realize and demand your gold out of your safe, and who are you going to call if the government or some unscrupulous character turns off your digital wallet are you going to take a pic of your phone with another phone
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A digital US dollar means: 1) The government has complete control over what you spend money on 2) You completely lose anonymity This is a terrible idea
it doesn’t mean that they have complete control over what you spend money on. they can already freeze your assets if they have reason. they have said it is meant to compliment cash (I’m with you though they probably want to phase cash out). we don’t have anonymity now so what anonymity is there to lose? it is perhaps a terrible idea for avg joe on the surface but under the surface it gives FED tools to have better control of price stability and liquidity. and for your avg joe that means avoiding societal collapse. so… maybe not the best idea in the world but give it some merit for what it’s trying to accomplish
People have been signing off their anonymity for decades. the fact that you are on youtube, is a sign that you have personally reduced your anonymity to a point that was unimaginable even 40 years ago.
This happen in texas like last winter remember even with CASH you couldn't pay for anything cause no register work. So didn't matter if you had cash/Silver/credit/debit card. If the store register don't work then it doesn't matter. In texas most people just gave people free food and then wrote down what they owe and hope the customer pay later
Yes for example I went to a store to get my gas but it had problems connecting I waited same problem after spending 15 min I went to another store after and it said problems connecting. Thankfully I had cash. It gave me the thought that if all goes down what is there to fall back on
It would give the government complete control over what you buy and when you buy it. If they want people to spend more, they could set an expiration date to force people to spend their money within a certain time frame. Government doesn't like it when people save. They could also limit you to buying a certain amount of goods or services, like limiting how much gas or food you can buy.
And when they impose the digital dollar upon the American public like the Federal Reserve wants, that will be a complete and total loss of freedom. So if the U.S. Federal Reserve controls YOUR money, they will control you. This is coming from a U.S. Federal government that has put the country trillions of dollars in debt and cannot control and waste billions of dollars in spending every year.
As I learn more about finance, I understand more and more about why people hate the government, specifically the FED 😌. Power hungry elders who can never have enough. It’s sad to see this and then see a poor man who’s truly content with the little things in life. I’d like to think that the world would be better once I’m gone and time has past… Truth is my kids and grandkids will have to deal with these same BS government authorities.
There real reason is to take : in God we trust off the $ ...period. just like on the quarter; they reversed the direction on George Washington face to state we ain't looking towards God. But away from God....come Jesus come
They did this in Nigeria and only 0.5 percent of the populace signed up. So what did they do... just created a physical cash shortage and forced people onto the system. They were literally starving children to death to force parents to comply.
They might make an acception and somehow, get it implemented faster than we expect. They will probably bend the rules and do whatever it takes to make it happen.
They'll crash the economy with hyperinflation and force everyone to switch or make themselves like the hero coming in to save day with debt forgiveness. Just hand over your freedom and assets and let government take care of everything 🤮
"PROGRAMMED TO EXPIRE AFTER A CERTAIN TIME TO ENCOURAGE SPENDING?!!" Seriously. Yes, encourage spending, and discourage saving. Brilliant plan, government! We will be back to serfdom in no time! 👏🏼.... 👏🏼..... 👏🏼.... 👏🏼.... Edit: that was at 4:02 for reference
@@price3216 I already invest in stable assets, as well as some crypto. I just think it's absurd that people in our government would even consider the notion of a currency that EXPIRES if you don't spend it in time. Currency isn't a coupon. This whole thing is a massive scam by the government and the fed.
@@CMDR.Gonzo.von.Richthofen It's been a scam from the start. Inflation is just a tool with it's downsides and pros, same with expiration, both are similar.
Cash is suddenly "slow an costly for businesses"?!? Pending transactions, frozen assets, delayed deposits, power outages, down for maintenance, hacking all that's OK 👍
@@GoodBoy-qs9we It already exists with google, facebook, etc. Their services are going to be a big part of it. And yes the ccp actually does already have a AI judge who can even send you to jail for corruption.
👉🏽“Whether the money should be restricted to specific transactions, or programed to expire after a certain time period to encourage spending.” Yikes! I’m very surprised that nobody has commented on that statement around 5:50 yet! 😨This is the problem! The federal government would theoretically be able to have total control over our money should they so choose. If that statement does not disturb you, then I don’t know what will!
money that expires....illegal. What a crock...making money basically worthless. . forcing you to spend before your dollar goes away! If you got to spend it just unload your digital wallet and buy gold ... or bitcoin. So they want to discourage saving... and then they'll complain that the savings rate is low.
I'm very deeply disturbed by this. Slapping an expiration date on currency makes having any of it on that digital wallet utterly pointless. Nobody can save and we all stay as broke as a joke.
"experts say these alternative currencies expose the risk of money and payments circulating outside the watchful eyes of central banks..." that's the real reason 4:37
Yes? Is that wrong? Terror financing, corruption, inflation. Everything can be dodged by some of these currencies. Not a good thing. If you have a normal income and does not have the need to hide stuff from the government.
Control is why. They see decentralized crypto as a threat so they are hoping their centralized surveillance coin will be equally popular. Sadly, they will probably be successful.
@@Casyfill are you crazy??? the sole act of tracking it is breaking into our privacy, not only that, but they could add a social credit system with it and boom! usa is the new china
@@Casyfill You might as well be saying “remind me again why we shouldn’t have our papers in order for the gestapo.” firstly, government has a long history of devaluing currencies which exacerbates the income gap between the haves and have-nots (because the haves get out of the currency and into other assets). Secondly, government currency is not yours; it is the property of the government and they can take it away from you. Thirdly, privacy. Governments are now monitoring their own citizens and if they fully control your finances, they fully control you.
Make no mistake about the intentions of a digital currency, it's all about having control of you, tracking your spending and turning off your money if you do things they don't like. Think "green credits" are only for big companies? If this goes through they will be able to turn off your buying power if they determine you've generated to much carbon this month etc. Digital currency should be avoided at all costs! This is directly in like and brought to you by the folks over at the World Economic Form (WEF). Educate yourself on the organization if you haven't already.
This actually could be use for something like "Democracy Dollars", whereby every American is given $100 to use as donation money to their voting candidates. This diminish the political influence of wealthy donors and corporations. Pretty cool concept. "Democracy Dollars" can only be used for political donation, and it's either use it or lose it in any election cycle, so that's where the ability to expire money could be useful.
WSJ & Fed's understanding of Bitcoin's Appeal: "It's a computer thing, right? We can do that too!" Which, of course, is exactly the opposite of the point of Bitcoin.
Problem is that Bitcoin will never be a massive part of the day to day spending for a country like the US. It has two fundamental issues. 1) it’s a deflationary currency. The value increases due to limited supply and therefore rational people hold on to it like other not real spendable currencies like gold. 2) no government in their right mind would ever allow a currency like this to become part of their system if they had any choice. Look what happened to Greece due to being on the Euro. That’s WITH the monetary body being on their side but having other priorities. No one is stupid enough to let bitcoins be used as more than a token part of the economy unless they’re desperate like Lebanon. The block chain technology is the part of Bitcoin that should truly survive the test of time. Like it or not (I don’t particularly) we are going to this model and it will be under government control
just used a check to transfer funds fom one bank to another because i tried to do a mobile atm withdrawand was declined...i cant tell you how many times ive been declined digitally.
Please I need someone to help me trade or invest the forex or crypto market because I'm tired of trading in losses myself. I've blown my account twice and it's frustrating.
India has a solution where you don't even need the internet to wire money from one person/business to another. Something similar would work well in rural America
Does it have a name? I haven’t heard of this! While I think a digital usd would be quite convenient I would still prefer for it to have a similar level of privacy as my physical wallet has where my cash and my purchases are almost always only seen by me
The FED will do this. They want to track all your money more taxation. I like how they make it seem easy and “free,” we all know everything has a cost. This video is Misleading!
After what happened to FTX, I'm really not for digital currency. There are just to many corrupt people in this world, and all someone would have to do is go in and make it all $0. What do we do when that happens and we have no proof of your savings? And don't tell me that won't happen because banks, and big businesses, are hacked all the time.
The Fed is literally trying to kick out the middle man to be the middleman, Anyways I came here to learn how to trade after hearing on the radio about the importance of investing and how one man gained $340,000 in just two months after investing $150,000. Somehow, this video has helped clarify some points, but I'm perplexed, I'm a novice, and I'm open to suggestions.
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US Govt has never been good at money and managing anything. Can you imagine the waste and abuse that would come from this. Terrible idea. If the Govt suddenly feels like you’re spending too much or not buying the right things they can just turn off your wallet.
Back in the 90's a bank teller wrote a program that would add a half a Penney to a bogus account every time the Bank computer made a transaction. The only way they caught him, was when he closed out the account.
Interest rates should be zero. It may be deflationary. Otherwise we are slaves in the shackles of debt. Interest is criminal theft from people, but the crime is not the stolen money, it is the lack of education of the people. “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” ― Henry Ford
Digital RMB has set up test areas in Shenzhen, Shanghai and Beijing. Now if you are Chinese citizen and long living in Beijing, after the verification you will have a ¥200 pack in digital only from Beijing city govt.
This is a pro-CBDC commercial. Nothing is stated about the privacy of transactions which is absolute with cash. The idea that I would be forced to spend it or lose is offensive to me as a senior who need savings for future medical or other expenses. The right to privacy enshrined in the USA Constitution could easily be lost if the Central Bank via a CBDC can control what you spend, what items you can/or cannot buy, or simply suspend your account because your ‘social score’ akin to China’s slave system, is not high enough. Potential abuses are unlimited. What if they don’t like your religion or your vaxx status or anything else? Suddenly you have no money?
If they're dumb enough to make CBDCs an actual thing then I imagine they would say that paper money stays but slowly get rid of it anyway. CBDCs would benefit them more than physical money
What about all your money in the bank how would that work if you have digital currency going cashless would be the worst mistake in history the government control your device they can't track cash
the number one economic financial issue we have in America the national debt. This smacks of two things 1) to fix our economical issues we don’t want lay blame where it should go and address that. instead let’s pave a new road away from the problem ( out sight, out of mind). 2) who in their right mind feels better leaving the entirety of their money to sit in the hands and complete control of a private bank ( the fed is a private bank) where there would be absolutely no oversight or accountability? This is monetary madness with polished surface.
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The reason for the success of digital currencies is that it can be used as a medium to transact bypassing the government channels. Also digital currencies have a technological backbone that controls it's quantity under circulation (it won't inflate like ordinary currencies). CBDC's looks like printed currency in digital form.
The success of digital currencies comes from criminals and speculation, we aren't even close to feeling any sort of effects concerning stuff like quantity under circulation. There just aren't enough real products in the crypto space to talk about any real business being done with those mediums. Maybe in 20 years, when we have God knows what tech and government control, might crypto currencies become something that could be useful, but we could just as well see a worldwide crackdown, especially after a big enough crypto crash.
@@CeoLogJM Trump was also saying the same thing until he started raising campaign funds with his sale of NFT, traded obviously in Ethereum. People like you are gonna be the first victims of the CBDCs if you don't catch up to innovation
CBDC = Central Bank Digital. The only way forward is with sound money. ( aka - decentralized and limited digital currencies ). Centralized banks are the ones that are devaluing the dollar by constantly printing more money.
Imagine they get into controlling which transactions go through and which don't. E.g., man convicted of DUI can make ordinary purchases, but Fed won't permit them at stores that sell alcohol. Surprise! Some grocery stores sell alcohol. There are so many ways government could screw this up. I hope they stay out of it.
@@Ibn_Abdulaziz that is a perfect example of what I am talking about. People with my private info may judge me when it’s not their business. I drink alcohol now and then, and I gather that you do not. I respect your choice for you, but enjoy my freedom to choose. I do not wish to impose my judgement or choices on others.
they should not even be talking about money that potentially expires. that should not even be a subject of discussion. its difficult enough to try to earn a living as it is, with people having to live with roommates or work multiple jobs to make ends meet, money that expires on top of all the existing difficulties is just beyond words and filled with expletives at just the thought of it being considered.
Average American has $400 saved, meaning that banks aren't getting rich off our savings, but off the fractional system and our interest payments on thin air loans. Also, the point of real money that expires is draconian as it forces bogus transactions and profitless investments, as the seller knows you are forced to spend, and the rich will crush the middle class and lower class investor.
banks get rich by loans, and every American i know has some sort of loan or credit card debt, saving aint going to help much . The banks reserve ratio is zero for deposits now so they can print as much as they want
UPI is still based on cash. It replaces Visa and MasterCard but still requires bank account. CBDC you don't need bank account. You have direct account with central bank. Also CBDC can work offline without internet connection. UPI is restricted to payment .But CBDC has benefits beyond payment.
With CBDC-s a system like UPI is unnecessary, you don't need a way to transfer money between n x n payment platforms if everyone can just have an account at central bank.
bro this is completely different stop spamming upi everywhere, like it is a invemntion Chinese has it long back before we do, cbdc is different i would suggest book on digital currencies if you want to read it explains all about it- the future of money- eswar s prasad
Great! Let’s digitized the dollar and still do the same dumb shat we did with the bills; destroy its purchasing power. Even easier now since there’ll be no longer a need to go through the hassle of paper, ink, printing presses, and staff. With the digital dollar, the government can create more with a mere push of a button and will be able of tracking our every transaction. AWESOME!
@@cea2135 of course not. I’m merely implying that a centralized monetary system, such as fiat currencies that currently dominate will always be subjected to corruption. Unlike decentralized means such as what Bitcoin offers. I’ve made millions with it since mid-2009. Meanwhile, all along the way, people disputed and blatantly rejected it as the dollar actively depreciates in value. That’s all. I’d never go on to suggest something so grossly out of line as to say government entities and human-run financials systems would do something so noble and morally sound as to not devalue or corrupt it.
I'm glad Texas is legislating a gold backed currency that is going to give us an option. I will not conform to this beast system. F CBDC and F Brandon. 🐑
FED : China marginalized economy is prove that alternative payment is a risk of an ongoing and monopolization of ecosystem Also FED : imma digitize your pocket wether you like it or not 🗿
