Digital currency is being adopted around the world. Does this forebode the Biblical “Mark” of a cashless society? Photo courtesy LibertyNation.com.
My most insane pet peeve today?
You have seen me write in this forum about my disgust with the abuse of certain English words, where the context is in sharp disagreement with the dictionary definition of the word so used. The word most often abused as described above is “insane” which is now frequently used in the place of some superlative.
All that said, the talking heads are now floating a truly INSANE idea to have the USA adopt a “virtual currency” called CBDC that would be crypto-nothing controlled directly by the Treasury Department. This new non substance being touted as a CBDC, is supposed to confuse you into being impressed. That acronym is for Central Bank Digital Currency.
Virtual currency is coming, but is it wise? Photo courtesy Businessworld
I have pointed out many times “block-chain” is nothing more than a fancy accounting system. When block-chain is used to count nothing, the value of the block-chain and what ever it is counting is also nothing. As Jethro Bodine wisely observed on the Beverly Hillbillies, when called upon to cypher “Naught, plus naught is equal to naught.”
That is an excellent definition of Bitcoin; naught, plus naught, is always and forever more naught and not one cent more. Not ever!
Abandoning what little is left of our constitutional monetary system is simply an insane idea. For the edification of the younger generation, when I say anything is insane, I am conveying a very specific opinion that anyone who agrees with that idea needs to be locked up in a sanatorium for the criminally insane.
The United States does not have a central bank the way many other countries do. We have a series of twelve regional Federal Reserve Banks. These banks are not owned by the federal government. They have three classes of stockholders, designated either A, B, or C.
The class A stock in each Federal Reserve Bank is owned by the large banks in that geographical region. Class B stock is owned by the small banks in the region, and ownership of the class C stock remains, at least officially, a secret, because the Federal Reserve has never been audited since it was created in 1913.
Congressman Henry B. Gonzalez, a liberal Democrat from Texas’ 20th District (San Antonio) served in congress
Congressman Ron Paul called for an audit of the Federal Reserve and even wrote a book about it. Photo courtesy ArkansasGopWingblogspot.
48 consecutive years and regularly introduced bills calling for an audit of the Federal Reserve Bank. They were referred to committees where they died.
It is widely assumed that Class C stock is owned by foreign central banks. Without an audit, it is impossible to know. Congressman Ron Paul, a Texas Republican, also tried unsuccessfully to have the Federal Reserve Banks audited.
Once the USA replaces the Federal Reserve System with something much worse, that government owned central bank, using blockchain technology, can very easily track your every purchase. Not only that, they can electronically turn off and on what items you may purchase with your CBDC credits.
Perhaps the party in power decides you do not need to own more than ten bullets? They can simply stop the card you use to access your electronic CBDC from being able to purchase firearms and ammunition.
Some left-wing judge can say, while you have a constitutional right to keep and bear arms; the constitution does not guarantee you any right to buy more firearms. Don’t think you will be able to rally in Washington, DC to protest that decision.
The Constitution says you have the right to peacefully assemble and petition the government for redress of grievances. Once again, some lefty judge can rule that does not include any right to purchase gasoline, or operate vehicles fueled by gasoline. The ‘Green New Deal’ plans for you to be riding a mule everywhere, just like Festus Hagan on Gunsmoke!
Do the politicians need a few dozen, trillion, dollars for some well meaning boondoggle? No sweat, they can simply enter the needed amount to be appropriated into their stock of CBDCs.
As Barney Fife once sagaciously observed, what we need to do here, with these CBDC’s, is to nip it in the bud. It is an idea that really is completely insane!
Dean Allen is a decorated Vietnam veteran, book author and former Secretary of the Anderson (SC) GOP.
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I agree that the “International Central Bank’s Digital Currency” being accepted by the US Treasury is a bad idea. But on the other hand, if digital currency is allowed to be used in the United States economy, then every penny must be created and authorized by the US Treasury, not created and authorized by enemies of the United States through “International Central Banks.”
This is not a new idea. The fake digital US dollars, created by foreign banks, have been an integral part of our economy since 1994. This was when President Clinton signed into law the Riegle-Neal Interstate Banking and Branching Efficiency Act which allowed any international bank to wire into our country an unlimited amount of unbacked “fake digital US dollars.”.
As most of us know, many of our federal and state governments were occupied by the Chinese Communist Party and their criminal allies during the 2020 election. Nineteen super computers from China flipped 5 swing states. This occupation of the US Government was completely funded by the “terrorist’s fake US digital dollars.”
Our economy is based on these fake digital dollars. The US Federal Reserve Bank reports that there are only 2 trillion printed US dollars, and coins, circulating in the entire world.
Yet the terrorist Chinese Communist Party’s bank wired into the United States Treasury over 1 trillion of their fake US digital dollars to buy US Treasury Bonds. There were never any real US dollars transferred. Other international banks wired into the US Treasury almost 29 trillion of their “fake digital US dollars” to buy our US Treasury Bonds and fund our national debt.
In 2011 one bank alone, the international Bank of America, claimed in FDIC losses that they lost $75 trillion fake US dollars.
I believe that we can not take our country back from these terrorists until we stop their ability to create unlimited “international fake digital US dollars.” These fake US digital dollars are being used as weapons to destroy the United States and its economy.
One way to stop this enemy attack is to only allow digital dollars, which were authorized and created by the US Treasury, to circulate within the US. This would be done through US Treasury supercomputers and block chain technology. Do you have any other suggestions?
Dean Allen is a decorated Vietnam veteran, book author and former Secretary of the Anderson (SC) GOP.
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I agree that the “International Central Bank’s Digital Currency” being accepted by the US Treasury is a bad idea. But on the other hand, if digital currency is allowed to be used in the United States economy, then every penny must be created and authorized by the US Treasury, not created and authorized by enemies of the United States through “International Central Banks.”
This is not a new idea. The fake digital US dollars, created by foreign banks, have been an integral part of our economy since 1994. This was when President Clinton signed into law the Riegle-Neal Interstate Banking and Branching Efficiency Act which allowed any international bank to wire into our country an unlimited amount of unbacked “fake digital US dollars.”.
As most of us know, many of our federal and state governments were occupied by the Chinese Communist Party and their criminal allies during the 2020 election. Nineteen super computers from China flipped 5 swing states. This occupation of the US Government was completely funded by the “terrorist’s fake US digital dollars.”
Our economy is based on these fake digital dollars. The US Federal Reserve Bank reports that there are only 2 trillion printed US dollars, and coins, circulating in the entire world.
Yet the terrorist Chinese Communist Party’s bank wired into the United States Treasury over 1 trillion of their fake US digital dollars to buy US Treasury Bonds. There were never any real US dollars transferred. Other international banks wired into the US Treasury almost 29 trillion of their “fake digital US dollars” to buy our US Treasury Bonds and fund our national debt.
In 2011 one bank alone, the international Bank of America, claimed in FDIC losses that they lost $75 trillion fake US dollars.
I believe that we can not take our country back from these terrorists until we stop their ability to create unlimited “international fake digital US dollars.” These fake US digital dollars are being used as weapons to destroy the United States and its economy.
One way to stop this enemy attack is to only allow digital dollars, which were authorized and created by the US Treasury, to circulate within the US. This would be done through US Treasury supercomputers and block chain technology. Do you have any other suggestions?