Something just dawned on me with Central Bank Digital Currency

a reply to: anonentity

I don't see how gold will ever be used to barter. Maybe on big purchases like land, house or car. I understand the industrial use for gold, especially in space related projects, but if we see 1929 play out again, the government will just confiscate it and redistribute.

Even in best case scenario where you can sell your gold for CBDC, it will be time stamped like others have mentioned. You'll have to spend that money in 30 days or whatever they pick. That being said, you won't be able to load up on food or ammo as those will definately have some limit, especially ammo if it's not outright illegal to buy at that point. Plus the fact they could limit how much you can sell. Ooops sold too much gold this month, sorry!

As another poster mentioned there may also be two economies running side by side. CBDC and the black market. I think this has a lot of merit as hard drugs will most likely be not available to purchase. They could also ban the sale of alcohol and ciggarettes. A black market will pop up instantly on these things but you won't be trading a gold coin/bar for a 12'ver of Miller Lite. I think silver might be the better play in a black market scenario.

originally posted by: Timber13
I really want to watch it all burn now. To embers. All of it.

You and me both mate.

It would be most satisfying to see the whole Babylonian construct and it's current controllers, destroyed, beyond repair.

a reply to: litterbaux
Interesting idea. Manipulate people to voluntarily give up cash as well as manipulate markets to provide only what the controllers decide. We're all just commodities now.

originally posted by: teapot
a reply to: litterbaux
Interesting idea. Manipulate people to voluntarily give up cash as well as manipulate markets to provide only what the controllers decide. We're all just commodities now.

While simultaneously getting rid of banks and credit card companies. What would you need a bank for anymore? Maybe that arm of the financial system would just be used for home, car and business loans. Even that could be absorbed into the CBDC. Can you imagine the central bank salivating over the fact they could finance home loans and have all of that property listed on their balance sheet?

Credit cards would have no use at all in this system.

How could a credit card company function if everyone gets time stamped CBDC? They won't be using a credit card to go out to eat if that is the flavor of the month. Or how would people pay back their reckless spending on a fixed budget of UBI? Especially when you consider you can just go negative on your CBDC account and be charged interest just like a credit card.

*tin foil hat on*

You are a commodity, that's why your name is spelled in all caps on your birth certificate, like a corporation.

*hat off*

I just like talking about this crazy stuff to get an idea of how to get ahead of it.

a reply to: litterbaux

Are you asking why previous monetary systems failed? I fail to understand the point you're trying to make. Please enlighten me.

Any system is only as good as the people involved. It don't matter how rock solid any system is, when there are a bunch of pirates running it, they will find a weak spot.