MCViewPoint

Opinion from a Libertarian ViewPoint

Posts Tagged ‘digital currency’

BRICS Announces New World Reserve Currency as America Commits Economic Suicide

Posted by M. C. on July 1, 2022

America is being mass-murdered by our own Federal Government.

And the emerging, new globalized economy will let it happen.

Unless Americans take back control of their own government, America will soon end.

By Alexandra Bruce
Forbidden Knowledge TV

China has recently invited Indonesia, Malaysia, Iran, Egypt and several other countries to join BRICS, a growing alliance, led by Brazil, Russia, India, China and South Africa.

While some are reporting that BRICS is somehow challenging the Globalists, this is demonstrably false.

The original concept for BRICS was proposed by the chief economist for Goldman-Sachs. BRICS’ new development bank is staffed by known players of the IMF and World Bank.

And BRICS has repeatedly affirmed their commitment t the United Nations’ Agenda 2030.

Aside from Brazil’s President Bolsonaro, all of BRICS’ nation-states have pushed the COVID-19 lockdowns and experimental shots.

And China recently announced five more years of their brutal “Zero-COVID” lockdowns.

BRICS is also pushing a digital currency and has launched a vaccine research and development center for member states.

BRICS is clearly not anti-Globalist.

Even the CCP’s state-run media explains how BRICS now leads the globalization mission.

But they are all turning against the United States and its allies.

Xi Jinping accused the US of weaponizing the financial system with their sanctions against Russia, which has caused the average person to suffer worldwide.

And Vladimir Putin suggested that BRICS could provide a new world reserve currency.

See the rest here

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Digital Tyranny: Beware of the Government’s Push for a Digital Currency

Posted by M. C. on March 16, 2022

For instance, three weeks before the Biden Administration made headlines with its support for a government-issued digital currency, the FBI and the Justice Department quietly moved ahead with plans for a cryptocurrency enforcement team (translation: digital money cops),

Short of returning to a pre-technological, Luddite age, there’s really no way to pull this horse back now that it’s left the gate. To our detriment, we have virtually no control over who accesses our private information, how it is stored, or how it is used. And in terms of our bargaining power over digital privacy rights, we have been reduced to a pitiful, unenviable position in which we can only hope and trust that those in power will treat our information with respect.

At a minimum, before any kind of digital currency is adopted, we need stricter laws on data privacy and an Electronic Bill of Rights that protects “we the people” from predatory surveillance and data-mining business practices by the government and its corporate partners.

https://www.rutherford.org/publications_resources/john_whiteheads_commentary/digital_tyranny_beware_of_the_governments_push_for_a_digital_currency

By John W. Whitehead & Nisha Whitehead

“The greatest tyrannies are always perpetrated in the name of the noblest causes.”—Thomas Paine

The government wants your money.

It will beg, steal or borrow if necessary, but it wants your money any way it can get it.

The government’s schemes to swindle, cheat, scam, and generally defraud taxpayers of their hard-earned dollars have run the gamut from wasteful pork barrel legislation, cronyism and graft to asset forfeiture, costly stimulus packages, and a national security complex that continues to undermine our freedoms while failing to making us any safer.

Americans have also been made to pay through the nose for the government’s endless wars, subsidization of foreign nations, military empire, welfare state, roads to nowhere, bloated workforce, secret agencies, fusion centers, private prisons, biometric databases, invasive technologies, arsenal of weapons, and every other budgetary line item that is contributing to the fast-growing wealth of the corporate elite at the expense of those who are barely making ends meet—that is, we the taxpayers.

This is what comes of those $1.5 trillion spending bills: someone’s got to foot the bill.

Because the government’s voracious appetite for money, power and control has grown out of control, its agents have devised other means of funding its excesses and adding to its largesse through taxes disguised as fines, taxes disguised as fees, and taxes disguised as tolls, tickets and penalties.

No matter how much money the government pulls in, it’s never enough, so the government has come up with a new plan to make it even easier for its agents to seize Americans’ bank accounts.

Make way for the digital dollar.

In an Executive Order issued on March 9, 2022, President Biden called for the federal government to consider establishing a “U.S. Central Bank Digital Currency (CBDC).”

Similar to cryptocurrencies such as Bitcoin, CBDCs would also be a form of digital money, but there the resemblance ends. If adopted, CBDCs would be issued by the Federal Reserve, the central banking system for the U.S. government. One CBDC digital dollar would equal the value of a physical dollar. And like the physical dollar, which ceased to be backed by gold more than 50 years ago, the CBDC would be considered a government-issued fiat currency that is backed by the strength and credit of the U.S. government. (Of course, that’s not saying much considering that much of the time, the U.S. government operates in the red.)

Although government agencies have six months to weigh in on the advantages and disadvantages of a centralized digital currency, it’s as good as a done deal.

For instance, three weeks before the Biden Administration made headlines with its support for a government-issued digital currency, the FBI and the Justice Department quietly moved ahead with plans for a cryptocurrency enforcement team (translation: digital money cops), a virtual asset exploitation unit tasked with investigating crypto crimes and seizing virtual assets, and a crypto czar to oversee it all.

No surprises here, of course.

This is how the government operates: by giving us tools to make our lives “easier” while, in the process, making it easier for the government to track, control and punish the citizenry.

See the rest here

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Rep. Emmer: “Financial privacy is the definition of freedom”

Posted by M. C. on February 10, 2022

This year Congressman Emmer proposed a bill to limit the Fed’s ability to issue its own digital currency. He says that a CBDC is an Orwellian surveillance tool, and that we should not be trying to emulate China. He has been an outspoken advocate for financial privacy, and so we chatted to him about cryptocurrencies, and whether the SEC and Fed are taking us down a dangerous path.

https://emmer.house.gov/2022/1/emmer-…

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EconomicPolicyJournal.com: WARNING: Central Bank Digital Currency Will Be 100% Trackable Currency

Posted by M. C. on May 7, 2021

2. And this is not fully appreciated at all. Once a CBDC is established and becomes the method of general exchange, it will be very easy for governments to block any kinds of exchanges it desires to block. In other words, it provides the opportunity for cancel culture and authoritarianism at an entirely new level.

https://www.economicpolicyjournal.com/2021/05/warning-central-bank-digital-currency.html

The Financial Times reports:

What CBDC [Central Bank Digital Currency] research and experimentation appears to be showing is that it will be nigh on impossible to issue such currencies outside of a comprehensive national digital ID management system. Meaning: CBDCs will likely be tied to personal accounts that include personal data, credit history and other forms of relevant information.

There are two very important implications here:

1. Central banks will have to kill off private sector cryptocurrencies.

There is just no way that CBs are going to allow private crypto that can provide an end-run around CBDC.

2. And this is not fully appreciated at all. Once a CBDC is established and becomes the method of general exchange, it will be very easy for governments to block any kinds of exchanges it desires to block. In other words, it provides the opportunity for cancel culture and authoritarianism at an entirely new level.

Bottom line: It is not clear why bitcoin was originally created or by whom but may lead to being one of the worst inventions ever created by man.

 –RW

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A New World Monetary Order Is Coming – Activist Post

Posted by M. C. on October 28, 2020

Making your life an open book.

Shutting you and access to your assets off with the flick of a switch.

https://www.activistpost.com/2020/10/a-new-world-monetary-order-is-coming.html

By Stefan Gleason

The global coronavirus pandemic has accelerated several troubling trends already in force. Among them are exponential debt growth, rising dependency on government, and scaled-up central bank interventions into markets and the economy.

Central bankers now appear poised to embark on their biggest power play ever.

Federal Reserve Chairman Jerome Powell, in coordination with the European Central Bank and International Monetary Fund (IMF), is preparing to roll out central bank digital currencies.

The globalist IMF recently called for a new “Bretton Woods Moment” to address the loss of trillions of dollars in global economic output due to the coronavirus….

Under a central bank digital currency, direct credits and debits could replace stimulus checks and taxes. It would be the vehicle through which modern monetary theory could be fully implemented – with the central bank becoming tax collector and funder of all government operations.

If depreciating the value of the currency through the inflation tax wasn’t enough, the Fed could also stick dollar-holders with a direct tax in the form of negative interest rates. Once paper notes are phased out, holding cash itself would no longer be a way for individuals to escape negative rates.

The only escape hatches would be volatile alternative digital currencies (such as Bitcoin) or hard money (gold and silver).

Under a monetary order where electronic digits representing currency can be created out of thin air in unlimited quantities, the best hedge is the opposite – tangible, scarce, untraceable wealth held off the financial grid.

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Digital Currency Will Take Away the Independence of Every American – LewRockwell

Posted by M. C. on September 25, 2020

https://www.lewrockwell.com/2020/09/no_author/digital-technocracy-trumps-paper-money-democracy/

It Isn’t About BLM, Or Face Masks, Or Lockdowns, Or Even Vaccination – – It Is About A Digital Currency That Will Take Away The Independence Of Every American

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EconomicPolicyJournal.com: China’s Crypto Is All About Tracing — and Power

Posted by M. C. on May 24, 2020

It is known that the Federal Reserve is quietly working in the
background on an eFed digital coin. This coin must be aggressively
fought and not allowed to be introduced.

The introduction of a government-controlled digital currency would be a
very immediate danger to liberty and only grow over time.

https://www.economicpolicyjournal.com/2020/05/chinas-crypto-is-all-about-tracing-and.html

This is very disturbing.

Bloomberg reports:

The coronavirus has disrupted the world in very large ways. While that battle has been waged, however, another event has almost been missed: the birth of a new kind of fiat currency, which could forever reshape the relationship between money, economic power and geopolitical clout.

An official Chinese digital yuan, more than five years in the making, is now in pilot runs to slowly start replacing the physical legal tender. If the experiment succeeds, this new cash, valued the same as the familiar banknotes bearing Mao Zedong’s image, will become the world’s first sovereign token to reside exclusively in the ether…

According to media reports, half the May transport subsidy for Suzhou municipal employees will be in the form of digital currency electronic payment, or DCEP, as it’s being called in the absence of a catchier moniker. The pilot plan in Xiong’an, a satellite city of Beijing, includes coffee shops, fast food, retailers, theaters and bookstores, Goldman Sachs Group Inc. has noted. The other trials are reserved for Chengdu and Shenzhen… the anonymity of cash will no longer exist. Authorities can look under the hood of pseudonymous transactions for unwanted activity, an outcome far removed from the vision that drove libertarians (and money launderers) to cryptocurrencies in the first place.

I early on warned of the dangers of digital currencies and how highly traceable they were, so although some libertarians have cheered on digital currencies not all have and it is an error to not make that distinction clear. There is nothing inherently libertarian about digital currencies.

But more significant, I don’t believe most understand the biggest danger of such currencies. While tracing transactions that are made is horrific, if a country adopts an all-digital currency format it will mean the government can censor any book, any magazine or any other good it wants since it will have near real-time information on who might be violating such a ban.

It is known that the Federal Reserve is quietly working in the background on an eFed digital coin. This coin must be aggressively fought and not allowed to be introduced.

The introduction of a government-controlled digital currency would be a very immediate danger to liberty and only grow over time.

RW

(ht Chris Barcelo)

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The Rutherford Institute :: COVID-19 and the War on Cash: What Is Behind the Push for a Cashless Society? | By John W. Whitehead |

Posted by M. C. on April 15, 2020

According to economist Steve Forbes, “The real reason for this war on cash—start with the big bills and then work your way down—is an ugly power grab by Big Government. People will have less privacy: Electronic commerce makes it easier for Big Brother to see what we’re doing, thereby making it simpler to bar activities it doesn’t like, such as purchasing salt, sugar, big bottles of soda and Big Macs.”

Add to that firearms, ammunition, publications and blogs that deviate from the program…

Much like the war on drugs and the war on terror, this so-called “war on cash” is being sold to the public as a means of fighting terrorists, drug dealers, tax evaders and now COVID-19 germs.

Digital currency provides the government and its corporate partners with the ultimate method to track, control you and punish you.

https://www.rutherford.org/publications_resources/john_whiteheads_commentary/covid_19_and_the_war_on_cash_what_is_behind_the_push_for_a_cashless_society

By John W. Whitehead

“The fact is that the government, like a highwayman, says to a man: Your money, or your life. And many, if not most, taxes are paid under the compulsion of that threat. The government does not, indeed, waylay a man in a lonely place, spring upon him from the road side, and, holding a pistol to his head, proceed to rifle his pockets. But the robbery is none the less a robbery on that account; and it is far more dastardly and shameful.”—Lysander Spooner, American abolitionist and legal theorist

Cash may well become a casualty of the COVID-19 pandemic.

As these COVID-19 lockdowns drag out, more and more individuals and businesses are going cashless (for convenience and in a so-called effort to avoid spreading coronavirus germs), engaging in online commerce or using digital forms of currency (bank cards, digital wallets, etc.). As a result, physical cash is no longer king.

Yet there are other, more devious, reasons for this re-engineering of society away from physical cash: a cashless society—easily monitored, controlled, manipulated, weaponized and locked down—would play right into the hands of the government (and its corporate partners).

To this end, the government and its corporate partners-in-crime have been waging a subtle war on cash for some time now.

What is this war on cash?

It’s a concerted campaign to shift consumers towards a digital mode of commerce that can easily be monitored, tracked, tabulated, mined for data, hacked, hijacked and confiscated when convenient.

According to economist Steve Forbes, “The real reason for this war on cash—start with the big bills and then work your way down—is an ugly power grab by Big Government. People will have less privacy: Electronic commerce makes it easier for Big Brother to see what we’re doing, thereby making it simpler to bar activities it doesn’t like, such as purchasing salt, sugar, big bottles of soda and Big Macs.”

Much like the war on drugs and the war on terror, this so-called “war on cash” is being sold to the public as a means of fighting terrorists, drug dealers, tax evaders and now COVID-19 germs.

Digital currency provides the government and its corporate partners with the ultimate method to track, control you and punish you.

In recent years, just the mere possession of significant amounts of cash could implicate you in suspicious activity and label you a criminal. The rationale (by police) is that cash is the currency for illegal transactions given that it’s harder to track, can be used to pay illegal immigrants, and denies the government its share of the “take,” so doing away with paper money will help law enforcement fight crime and help the government realize more revenue.

Despite what we know about the government and its history of corruption, bumbling, fumbling and data breaches, not to mention how easily technology can be used against us, the campaign to do away with cash is really not a hard sell.

It’s not a hard sell, that is, if you know the right buttons to push, and the government has become a grand master in the art of getting the citizenry to do exactly what it wants. Remember, this is the same government that plans to use behavioral science tactics to “nudge” citizens to comply with the government’s public policy and program initiatives.

It’s also not a hard sell if you belong to the Digital Generation, that segment of the population for whom technology is second nature and “the first generation born into a world that has never not known digital life.”

And it’s certainly not a hard sell if you belong to the growing class of Americans who use their cell phones to pay bills, purchase goods, and transfer funds.

In much the same way that Americans have opted into government surveillance through the convenience of GPS devices and cell phones, digital cash—the means of paying with one’s debit card, credit card or cell phone—is becoming the de facto commerce of the American police state.

Not too long ago, it was estimated that smart phones would replace cash and credit cards altogether by 2020. Right on schedule, a growing number of businesses are adopting no-cash policies, including certain airlines, hotels, rental car companies, restaurants and retail stores. In Sweden, even the homeless and churches accept digital cash.

Making the case for “never, ever carrying cash” in lieu of a digital wallet, journalist Lisa Rabasca Roepe argues that cash is inconvenient, ATM access is costly, and it’s now possible to reimburse people using digital apps such as Venmo. Thus, there’s no longer a need for cash. “More and more retailers and grocery stores are embracing Apple Pay, Google Wallet, Samsung Pay, and Android Pay,” notes Roepe. “PayPal’s app is now accepted at many chain stores including Barnes & Noble, Foot Locker, Home Depot, and Office Depot. Walmart and CVS have both developed their own payment apps while their competitors Target and RiteAid are working on their own apps.”

It’s not just cash that is going digital, either.

A growing number of states are looking to adopt digital driver’s licenses that would reside on your mobile phone. These licenses would include all of the information contained on your printed license, along with a few “extras” such as real-time data downloaded directly from your state’s Department of Motor Vehicles.

Of course, reading between the lines, having a digital driver’s license will open you up to much the same jeopardy as digital cash: it will make it possible for the government to better track your movements, monitor your activities and communications and ultimately shut you down.

So what’s the deal here?

Despite all of the advantages that go along with living in a digital age—namely, convenience—it’s hard to imagine how a cashless world navigated by way of a digital wallet doesn’t signal the beginning of the end for what little privacy we have left and leave us vulnerable to the likes of government thieves and data hackers.

First, when I say privacy, I’m not just referring to the things that you don’t want people to know about, those little things you do behind closed doors that are neither illegal nor harmful but embarrassing or intimate. I am also referring to the things that are deeply personal and which no one need know about, certainly not the government and its constabulary of busybodies, nannies, Peeping Toms, jail wardens and petty bureaucrats.

Second, we’re already witnessing how easy it will be for government agents to manipulate digital wallets for their own gain. For example, civil asset forfeiture schemes are becoming even more profitable for police agencies thanks to ERAD (Electronic Recovery and Access to Data) devices supplied by the Department of Homeland Security that allow police to not only determine the balance of any magnetic-stripe card (i.e., debit, credit and gift cards) but also freeze and seize any funds on pre-paid money cards. In fact, the Eighth Circuit Court of Appeals ruled that it does not violate the Fourth Amendment for police to scan or swipe your credit card.

Third, as commentator Paul Craig Roberts observed, while Americans have been distracted by the government’s costly war on terror, “the financial system, working hand-in-hand with policymakers, has done more damage to Americans than terrorists could possibly inflict.” Ultimately, as Roberts—who served as Assistant Secretary of the Treasury for Economic Policy under Ronald Reagan—makes clear, the war on cash is about giving the government the ultimate control of the economy and complete access to the citizenry’s pocketbook.

Fourth, if there’s a will, there’s a way. So far, every technological convenience that has made our lives easier has also become our Achilles’ heel, opening us up to greater vulnerabilities from hackers and government agents alike. In recent years, the U.S. government has been repeatedly hacked. In 2015, the Office of Personnel Management had more than 20 million personnel files stolen, everything from Social Security numbers to birth dates and fingerprint records. In 2014, it was the White House, the State Department, the Post Office and other government agencies, along with a host of financial institutions, retailers and entertainment giants that had their files breached. And these are the people in charge of protecting our sensitive information?

Fifth, if there’s one entity that will not stop using cash for its own nefarious purposes, it’s the U.S. government. Cash is the currency used by the government to pay off its foreign “associates.” For instance, the Obama administration flew more than $400 million in cash to Iran, reportedly as part of a financial settlement with the country. Critics claim the money was ransom paid for the return of American hostages. And then there was the $12 billion in shrink-wrapped $100 bills that the U.S. flew to Iraq only to claim it had no record of what happened to the money. It just disappeared, we were told. So when government economists tell you that two-thirds of all $100 bills in circulation are overseas—more than half a trillion dollars’ worth—it’s a pretty good bet that the government played a significant part in their export.

Sixth, this drive to do away with cash is part of a larger global trend driven by international financial institutions and the United Nations that is transforming nations of all sizes, from the smallest nation to the biggest, most advanced economies.

Finally, short of returning to a pre-technological, Luddite age, there’s really no way to pull this horse back now that it’s left the gate. While doing so is near impossible, it would also mean doing without the many conveniences and advantages that are the better angels, if you will, of technology’s totalitarian tendencies: the internet, medical advances, etc.

To our detriment, we have virtually no control over who accesses our private information, how it is stored, or how it is used. Whether we ever had much control remains up for debate. However, in terms of our bargaining power over digital privacy rights, we have been reduced to a pitiful, unenviable position in which we can only hope and trust that those in power will treat our information with respect.

Clearly, as I make clear in my book Battlefield America: The War on the American People, we have come full circle, back to a pre-revolutionary era of taxation without any real representation.

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5 Best Off-Grid Currencies That Don’t Require Electricity | The Daily Bell

Posted by M. C. on August 11, 2017

http://www.thedailybell.com/uncategorized/5-best-off-grid-currencies-that-dont-require-electricity/

When zombies attack or when the electric grid is taken down by an EMP or solar flare, trade must go on.

Currently, about 90% of U.S. dollars exist only digitally. Even if fiat cash remained valuable post-apocalypse, it would be pretty hard to come by.

Bitcoin and other cryptocurrencies are great, but still rely on electricity and the internet to function.

So what are the best off the grid currencies for a worst case scenario? Read the rest of this entry »

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