DEADSKINS GIANT "FLAT EARTH" PRESENTATION AND DISCUSSION....

[DKG]

Ted Cruz introduced a bill Tuesday aimed at preventing the Federal Reserve from following the lead of totalitarian regimes like China in establishing a central bank digital currency. The legislation (S.887), co-sponsored by Sens. Mike Braun (R-Ind.) and Chuck Grassley (R-Iowa), cites as cause the eventuality that a CBDC would be used as a "financial surveillance tool by the federal government."



Policymakers would be able to set negative interest rates, thereby forcing spending by causing people to lose money.



In addition to a loss of transparency and the ability to force spending, the government would also be put in a position where it could prohibit people from buying certain goods (e.g., alcohol).



Cruz's Tuesday statement advanced another concern raised in the CATO study: A CBDC would leave Americans' financial information vulnerable to attack. The study noted recent IRS data breaches have evidenced the fallout that might occur in the event that hundreds of millions of Americans' sensitive financial information was centralized, then breached.

[deadskinmask]

they "presented a bill".... well.... that certainly has me breathing great big sighs of relief.... i'm sure there were several pieces of legislation that prevented the government from putting law-abiding citizens under house arrest arbitrarily as well.... what happened there? but as i said before.... idiots make bad decisions.... and the idiots have us outnumbered....

[Shen Li]

China wants digital cash because it's another tool to monitor citizen behavior. However, even more important than that is China is scared to death their of a mass currency exodus out of capital.



Singapore, being the financial hub of Asia feels they need it as at least one form of currency to do business with countries like China.

[Odinson]

Cashless society means that the government can starve you out of resources with a push of a button.



As happened in Canada a year ago.

[Shen Li]

Cashless society means that the government can starve you out of resources with a push of a button.



As happened in Canada a year ago.

That had nothing to do with a digital currency.

[Odinson]

Cashless society means that the government can starve you out of resources with a push of a button.



As happened in Canada a year ago.

That had nothing to do with a digital currency.

Oh...?

[Shen Li]

That had nothing to do with a digital currency.

Oh...?

They froze the protesters' bank accounts. If you had've told my parents in the 90's that the Canadian government could and would do that, we would not have immigrated to this overtaxed, authoritarian, frozen hole.

[Odinson]

Oh...?

They froze the protesters' bank accounts. If you had've told my parents in the 90's that the Canadian government could and would do that, we would not have immigrated to this overtaxed, authoritarian, frozen hole.

The currency exists in digital form... Its digital currency.



And the people werent able to act because nobody carries cash anymore.





In the 90´s, peeps had a shitload of cash in their wallets.

[Shen Li]

They froze the protesters' bank accounts. If you had've told my parents in the 90's that the Canadian government could and would do that, we would not have immigrated to this overtaxed, authoritarian, frozen hole.

The currency exists in digital form... Its digital currency.



And the people werent able to act because nobody carries cash anymore.





In the 90´s, peeps had a shitload of cash in their wallets.

I thought you meant actual blockchain technology. It was just regular Canadian currency sitting in accounts that True Dope froze.

[Odinson]

The currency exists in digital form... Its digital currency.



And the people werent able to act because nobody carries cash anymore.





In the 90´s, peeps had a shitload of cash in their wallets.

I thought you meant actual blockchain technology. It was just regular Canadian currency sitting in accounts that True Dope froze.

Your debit/credit card is digital currency.



Its easier to control, track than cash.





Justin Trudeau was able to starve protests he didnt like because nobody carries cash... Not in significant amounts.

[Herman]

I thought you meant actual blockchain technology. It was just regular Canadian currency sitting in accounts that True Dope froze.

Your debit/credit card is digital currency.



Its easier to control, track than cash.





Justin Trudeau was able to starve protests he didnt like because nobody carries cash... Not in significant amounts.

No, they aint. Bank cards have been around for forty years or more. Argentina froze accounts in the eighties during one of their many financial meltdowns. All that takes is a government to declare an emergency.

[Shen Li]

I thought you meant actual blockchain technology. It was just regular Canadian currency sitting in accounts that True Dope froze.

Your debit/credit card is digital currency.



Its easier to control, track than cash.





Justin Trudeau was able to starve protests he didnt like because nobody carries cash... Not in significant amounts.

The Euros in your online bank account are not digital money because they take on a physical form when you withdraw them from an ATM.

[formosan]

Herman, there is some truth in what DSM is saying. Canadians have been lulled into a false sense of security by Ottawa. Our banks are stable, by global standards. But, the Canadian Deposit Insurance Company(CDIC) only insures $100,000 per account. That could be $100,000 in savings, $100,000 in TFSA, $100,000 in RRSP's. $100,000 in GIC's, $100,000 in RESP's for a total of $500,000 insured. The safest course of action in Canada is not to put all your eggs in one account basket or one bank.



By contrast, SVB accounts were insured up to $250,000 per account. But, the SVB was reliant on one risky industry.

The maximum insured amount for each account is one hundred thousand dollars?

 

[jeannie]

ofc a flat earth thread morphed onto an apocalypse thread lol



ammunition will be currency

[caskur]

The Bible says the world is round and hangs upon nothing...