Fed Reserve Floats More “Digital Dollar” Plans
Stefan Gleason | Jul 16, 2021 11:04AM ET
By Mike Gleasonh2 More investors eyeing tangible, non-digitized means of holding wealth/h2
Last week, the Federal Reserve launched another barb in the brewing currency war. Fed Chairman Jerome Powell said a central bank digital currency could render cryptocurrencies, such as Bitcoin, useless.
Those comments come on the heels of an announcement last month by the U.S. Treasury that it could soon force businesses receiving more than $10,000 in crypto payments from a customer to file an IRS report on the transaction.
Meanwhile, as WallStreetSilver community and outlined some of the disturbing implications of the Fed’s agenda.
Robert Barnes: "Well, what's our ultimate objective? In the court of public opinion, it's to awaken a lot more people that we have this secretive organization of a private clique of bankers, that are determining and dictating and running economic policy for everybody in the world. And that their agenda and their objectives get a lot worse and a lot darker than even where they've been.
"I think there's internal documentation about their intention to do not only a digital currency, but for it to be a chip. And what else will be on that chip is medical records information, vaccine delivery information, the ability to remotely access it. They've been designing chips that have that capacity."
It sounds like something out of a dystopian science fiction novel. Just a couple years ago, it may have been easy to dismiss warnings of central bank microchips that store financial and medical data on everybody as baseless fear mongering by conspiracy theorists.
But since the COVID outbreak, authorities have become emboldened to pursue measures that track and control public behavior like never before. As a result, personal freedoms are under threat like never before.
Unfortunately, there is no silver bullet for defeating tyranny. But silver and gold bullion do provide some measure of financial freedom. Physical metal exists completely outside the controlled banking system. Hard money offers true independence from the U.S. dollar and other fiat currency regimes.
Even amid a Brave New World of central bank digital currency, tangible wealth cannot be extinguished by decree. Precious metals will continue to be sought after as they provide protection from inflation and digital privacy incursions.
A bullion coin can always be held outside of the banking system, off the blockchain, and beyond the reach of electronic tracking systems.
Even if you value the convenience of e-commerce and electronic transactions, setting aside a portion of your wealth to be physically impervious to digital threats provides peace of mind. And that, at the end of the day, is priceless.
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