Agree but I fear that the knowledge is fading. At least 2 generations of school kids in the US have never seen the text of the constitution. It was removed from textbooks more than 30 years ago. Instead they are told "what it means" and as one might guess the "interpretation" is reflects a political view rather than an accurate reading of the words. The institutionalized ignorance is a powerful thing and IMO a key reason why so many people seem to accept that which is clearly absurd. They've been trained not to think about it except in an approved way. This is more than your average con, it is the ultimate long game.
Both our Liberty and our Rights come from God, not a corrupt government.
The man of lawlessness has been busy, but by no means does that mean we are to surrender our liberty or forfeit our rights.
There's definitely a reason they've decimated our military and broken our system of law enforcement.
As you said, there's not enough of them to reach their objective. To do so, they've got to turn us on each other.
They've miscalculated, thinking they've brainwashed enough of us into believing that culture dictates truth.
When this fracas comes to a head, it ain't gonna be pretty.
Fate favors the prepared. Always has, always will.
Make no mistake, the true Messiah is coming.
" They will wage war against the Lamb, but the Lamb will triumph over them because he is Lord of lords and King of kings—and with him will be his called, chosen and faithful followers.”
Revelation 17:14
Until then, I believe I'll stand on the side of true liberty and freedom.
To your way of thinking, either way, under a Constitutional Democracy, one side has the power to subjugate the other.
This is not accurate.
In a Constitutional Democracy, we have a Constitution and a Bill of Rights.
All people are created equal.
Et cetera, et cetera.
That is the underpinning of everything.
Very simple.
If a law gets passed, by the actual majority, and that law is seen to be discriminatory against a minority, there is a means to petition redress.
Slavery, denial of voting rights due to race and gender and previous national origin, denial of health care due to gender and even race.
So many bad ideas.
Made into bad laws.
Denied rights of the few by the votes of the many.
Clearly, the zealots were behaving un-Constitutionally.
Happens often, alas.
All overturned later, by people of a more evolved and aware sentiment.
There are a sizeable number of people who don't want other people to have their Rights.
People of the Majority, and people of the Minority.
Someone, somewhere, is plotting and scheming to put their foot on someone else's neck.
All the time.
Some people don't even want their own freedoms, and they will see to it that other people can't have theirs either.
They will not be content to live their own lives as robots (Czech word for slave), they must control and restrict other people's lives as they would restrict their own.
And allow others to do to them.
The Unelected Beaurocracy.
Always correct about everything, everywhere.
The Omnipotent Class.
Two bit public servants, with delusions of grandeur.
They are content to live in little boxes, physical, mental, ideological.
And that is OK.
That is their choice:
To have no choice.
If one day, they decide to step outside of that sad little box, I believe that they have that choice.
No one has any business interfering with that.
That is what the US Constitution is about.
Other countries have their own Constitution.
That reflects their image of how they want their government to serve them.
It all evolves.
Of for and by the People.
One individual at a time.
Choice. Freedom.
You don't want it for yourself.
That's OK.
I won't try to interfere with your individual self.
I expect the same courtesy in return.
It is the decent thing to do.
I expect a better life for myself.
I have seen the other way, and it is unacceptable.
The implement to stop it is right there in the Constitution and it always has been. It's called The "Militia of the Several States" = the fourth branch of gov't, the enforcement branch.
Great speech. Who is actually going to take the risk and action of stopping them though? I have yet to see this counter movement. Substacks and comments are clearly not enough. Psychopaths only understand Force
That’s a huge ruling class. You have to understand. These cunts have fabricated our entire history. Salem witch trials fake same with Lizzie Borden murders. Her father owned a bank. And is related to chase. All these crypto Jews own the banks they marry within families and they run everything. All of Hollywood related. Finance related. Judges governors. Related. They run everything. They all need to die but the web is expansive.
It's a fait accompli, no matter what laws states pass to try to ban it, the crisis they engineer will get everyone begging for it, like the dummies begged for the vaccine "cure." FedNow will be the settlements system (blockchain without transparency). FedCoin will be the "currency" that is a weapon of mass enslavement. The plandmic octopus always had a CBDC as the last arm. That's why they trialed UBI "relief checks." The rest of the world already knows Bretton Woods is dead because global reserve currencies never last a century, but as usual Americans will be the last to figure it.
Except blank check Joe's digital currency isn't using blockchain. Reading comprehension skills are important before you opine about what is or is not finished, spanky.
Yes I know it's not using block chain and you think "Joe" can even fathom well then....
they are making it up as they go anyway
Yes, Central Bank Digital Currencies (CBDCs) can be used with blockchain technology, but it is important to consider the type of blockchain being used and its performance, scalability and cross-chain interoperability requirements.
There's no way they use blockchain. International bankers will never offer transparency through an immutable ledger. And no blockchain could support speed and scalability needed for tens of millions of transactions a second. People aren't going to stand around waiting ten minutes for block confirmations on their Slurpee and Twinkie purchase. Plus they couldn't loot the people's worthless money with a ledger, which is all they know how to do. But every wallet will be programmed, and monitored 24-7 so the IRS will know every Slurpee you bought.
So we should all be idiots and get EVs so the corporate state that controls energy grids can control our movements? Teslas like vaccines and masks are an IQ test. It's a public display of low IQ.
No my point was that those people that own TESLA's wait what at least an hour to drive their car. So if they are willing to wait for that what else are they willing to wait for?
Part of the problem with CBDC and spreading the real message is some of the uninformed crap you hear from people trying to get the word out. I was listening to a reasonably well-known and well-informed truther in UK just the other day and she was ranting on about how all of our financial info would be on “the” (yes, there’s only one!) blockchain and digital ID would be stored and traded as NFT’s. No, and no! Why on earth would a central bank issued currency be implemented using a blockchain - the clue is in the name “central”. Not exactly the best use case for an inherently permissionless, immutable, decentralised, and poorly performing infrastructure. Doesn’t help with the credibility, does it?
Why would they want it? If the central bank is issuing currency directly to Joe-public (which I’m not convinced it would be at first) then doesn’t it mean the end for commercial banks?
If the banks can’t create “money” then they’re screwed - they could be our best hope 😂😉
(The UK House of Lords actually described CBDC as a solution in search of a problem!)
They won't issue it directly to Joe Public. They'll issue it to bank connected Fed wallets. Banks will still be servicers and profiteers of peoples debt- Mortgages, autoloans, student loans. The central banks don't want to manage the debt slaves' debt. But there will only be a handful of banks by the end of the decade.
While the United States contemplates its role in the development of a future electronic money and the global financial system, any CBDC rollout should preserve the critical role of community banks as economic engines of the U.S. economy.
Qortal: All the buzzwords of Web 3.0 with buzz graphics. Gamification of attention with levels for minting instead of creating a unique consensus mechanism using proprietary algos that run behind the curtain and don't turn it into a speculative whore house with people chasing tokens instead of useful communication and information. Close but no cigar. Though, I've seen much worse. C-
They literally DON'T use the buzzwords, literally just yesterday in a convo one of the guys was saying how they can't do that, because such words have been co-opted by those were do not use them correctly. He gave the example of cross-chain transactions, which are not truly cross-chain.
And yes, unlike a purely speculative coin on a network too slow to use, Qortal is all about communication, information and free speech. Which part of that didn't you like?
it's not a privacy token (essential in post-cbdc world) and the word privacy appears once on their website, but nowhere near their tech. You cannot have free anything in the digital sphere without privacy (token transactions and content creation). offering an encrypted messaging app is not what I mean either.
I spent five years researching this for a doctorate, so it's not what I like or don't like, it's what is or isn't required to build a new and truly decentralized internet with privacy, and a token of real value, all of which are beyond the reach of states, with no "founders", no foundation, no organization, no tiers, no executives to sell their souls to silicon valley VCs, no ico, no ito, no kyc, no tokens premined for nodes, only premined for the network to self-automate value, no mining, a network powered by people all over the world.
This is a another software (defi) app operation. And if servers belong to third party hosting corp., it's not decentralized. If nodes are co-hosted or co-sponsored (download of others' data required per their own website) then it's distributed and uptime depends on others, data is not fluid. It's more like P2P sponsorship. Mesh networking is the right idea though.
there's no true value backing the token, no true privacy, and no self-automating network to balance time, attention, content, engagement, value, and circulating tokens, so some reserves are burned based on self-assessment through scaling up or down depending on node count, content value, attention extraction etc, ie a smart network that is inherently programmed toward deflation. Think of a swimming pool that balances itself as it expands and more people piss in the pool and it doesn't ever need to be maintained.
Also blockchain is not the tech for privacy. Needs to be layered like a cake, for speed and scalability, something like a three layered DAG. Network-value. Node-value. Content-value. compartmentalized for security. Tokenization runs in the background behind those three that germinates over time based on the entire picture and distributes tokens based on fluctuating figures with the network, nodes, content, value added, keeping reserves for deleted content and nodes. If content is deleted, it takes away value from the node and network that was previously added. If a node leaves (deletes), which is essential for privacy "right to be forgotten"- self-amending chain (which only Tezos appears to be working on)- then the value that node added, needs to be paid for in tokens as value deducted because the swimming pool is losing a swimmer, but the swimmer needs to pay to leave, a fluctuating amount always kept in their reserves for that option based on the value of their node in relation to the whole network. Network needs to be powered by users with incentives to power it. Substratum had the right idea with how that should work to decentralize a new internet.
The leveled minting schedule is atrocious. Based entirely on time wasted passing blocks rather than quality of content contributed and consumed by others (attention-labor-value). It's a multi-level marketing or ponzi scheme incentivized with founder nodes taking 3% of every block just because their "trusted"?
Value is the nectar of online attention. Time is just one measurement of attention-value. Time on the network doesn't equal value added.
Not proof of work. Not proof of stake. Not proof of time.
Proof of Network Value.
Nice idea, great credo, would probably enjoy a pint with the founders at a Reno pub, but wrong premise.
Tell Jason and his Qort crew to get together with Justin Tabb, and create a multi layered compartmentalized and interconnected self-amending DAG run as a self-automated network powered by users. with tokens not the incentive, but Proof of Network Value the mechanism guiding the network (adding network value as nodes, and content, attention-labor) based on all of the above with P2P token transfers possible using zk-SNARKs and I'll gladly work for free on the project and actively promote it.
Oh good citizen you wait baby.. Qortal IS the future!! TOTALLY decentralized, no KYC and just wait very soon all the apps you wanna have at your fingertips. Just remember FREE speech is FREE for everything or NOT really FREE!
I have a very liberal friend. I explained CBDCs to her and she was... stunned. Yet I have another liberal friend who just shrugged and said something to the effect of "well, it's progress, we have to adapt.'
I do have to add the second friend does have a fondness for smoking pot, so that could play into her opinion. LOL.
Problem is they have all those on entitlements already on a system they can control. And Millenials and "X" are more likely to bank on their phones so easy peasy for them!!
A timely warning. I think though that that is more Fire than they want to drop on the dry tinder of the American people right now, but I could be wrong.
I think that rather than making such a move openly they will nationalize the banks a la unlimited FDIC guarantee in exchange for even more control of banking. I expect that they get all of the backend up and running in the banks and hold off on the face of Beastcoin for now.
As an aside, is there a point where we say enough is enough? Or is talking as far as we will ever go?
I wouldn't bet on it. Any plans they have went out the window a long time ago. They are just trying to hold the doors on long enough for it to be somebody else's problem.
I won't believe in their master plan for two reasons. One their sheer incompetence has more unintended consequences than they ever imagined. And two they are not the 'stick to it' kind. When things get hairy they make stuff up to try and save their own butts. There is no master plan anymore just stupid, panicking deer in headlights.
True, but they haven't posted anything new on FedNow since September, that suggests to me that it isn't on track for release. September is about the time that they admitted inflation was 'sticky' if I remember right, hopefully reality has pushed this horror away for awhile. Or I could be overly optimistic and they are just doing a low key launch. Unfortunately, if they are low key it is not because they fear the American people much as we might wish otherwise, we have proven to be all too pliable to their will, so far.
Well they have pretty much looted the 'developed world's that we don't lose much by walking away. I guess here in rural Georgia walking away just means becoming more disengaged from society and ignoring their laws ever more. That sounds pretty good. But I suspect there will have to be a confrontation sometime. I would prefer sooner to later but I will keep waiting for the right opportunity
Journalists like yourself, and others in a position to ask questions, should ask the experts: Why CBDCs rather than a gold standard? CBDCs are just another "currency" tethered to nothing of actual value. Isn't the root cause of the problem the fact that there is nothing stopping governments from abusing their power to create money?
Exactly. What is the mechanism by which CBDCs restore faith in a system that is $32T in debt? Is that $32T magically going away the minute CBDCs are instituted? We already have digital money, how often do you pay for something of note with paper money or write a check?
Digital currency has not helped China's debt problems...why would it help ours?
Thanks so much for posting information about members of Congress who are actively opposing a CBDC. Prior to this I'd heard of only one. Under the Constitution, which by the way doesn't mention "the Fed", Congress has the sole power over coinage. Congress need to wake up and take back the power they have for too long ceded to the executive branch. Here's legal scholar's article laying out why only Congress can implement a CBDC: https://bpi.com/legal-authority-to-issue-a-u-s-central-bank-digital-currency/
It will take years to develop, debug and fully deploy a CBDC system even if there was enough public support on implementing it, and I suspect there is not. On its current trajectory, our fiat currency system won’t last that long. It’s not going to be pretty either way.
No, the technical part doesn't take years. CBDC is just some proverbial "money" issued by the government and it doesn't have to be blockchain. FedNow is a government platform which can be used to manage it, it has been in development since 2019 and will be launched in 2023.
The obstacle is legal and might take years. You can't just outlaw other assets, the regular currency, bitcoin and cash. But they're trying to pass bills to redefine the word "money":
CBDC's will destroy what is left of the country. It will be a living hell. To get your fake digital dollars you will need to submit to all mRNA injections, as many as they demand. You will need to pledge allegiance to the leftist democrat party. You will need to disavow Trump and all republicans. You will need to surrender your gas vehicle. You will need to surrender your guns. You will need to surrender all of your freedom to move about. You will eat only the garbage they allow you to eat. You will give up your religion. You will gladly submit to any and all demands made by the state at any time. Got it?
Here’s the play: As non-favored banks begin to fail, as they will very shortly, ( SVB obviously a highly favored bank consisting of 99.9% hefty lefty donors and PC power brokers and influencers) the Fed will claim FDIC can not (true) and will not make depositors “whole” ...but as a “caring and gracious” overlord they will offer a generous alternative: ( take it or leave it) every dollar of deposit lost will be backed by the full faith equivalent of CBDC’s.
And that, ladies and gentlemen, is the story of a carefully manufactured crisis being utilized to bring forth the planned implosion of the American dollar.
The SVB collapse was caused by 3 factors: 1. mistakes made by the management 2. Federal Reserve raised the rate too quickly 3. panic. It's justified to be concerned but watch for those spreading panic, they're not your friends.
The worst of all this is the debasement of savings.
$12T were issued for "COVID", per the St. Louis Fed Reserve Bank's M1 statistics.
Who received these funds? Who DIDN'T receive a penny?
What about the recent unlimited bailout of depositors at SVB? Who paid for that?
Why the savers did. A way out of this would be to restore Double Liability for Bank Shareholders, Directors and Officers. They would share PERSONAL LIABILITY for their actions.
It is going to be the retailers that enforce CBDC's. If States/Provinces allow other forms of currency to be used and that retailers can opt out of using digital exclusively, it will kill any control measures they have in mind. for the time being anyway.
The time is long overdue to put the "Ruling Class" back in the dirt, from whence it came, and to where it rightly belongs.
We the People are a Democratic Republic.
Our Sacred Laws are the Constitution, Bill of Rights, Golden Rule.
They come to us and turn our lives upside down.
We should do the same to Them. And doubly so.
They have nothing.
We have created everything. By our labor.
The "Rulers" are parasites.
Noxious parasites.
They are energy vampires.
For Them, too much is never enough.
They must be stopped.
The US is a Constitutional Republic, Dolores.
True.
It was late.
I was past bedtime.
Constitutional
Republic.
I said so in the fine print. ;)
I do. :)
Correction: the United States WAS a Constitutional Republic. That basic truth has been undermined and eroded.
I agree.
Undermined and eroded.
For a very long time.
However, the paperwork still exists.
The knowledge still exists.
It is a choice that people make, one individual at a time.
People have been conned and pressured into doing things that do not benefit them.
Why continue to follow or cooperate with a system that is designed to destroy you?
It cannot exist without the will of people who are too scared, or stupid, to refuse to dig their own graves.
Just say, NO!
Do not consent to be a victim.
Do not consent to be a slave.
Agree but I fear that the knowledge is fading. At least 2 generations of school kids in the US have never seen the text of the constitution. It was removed from textbooks more than 30 years ago. Instead they are told "what it means" and as one might guess the "interpretation" is reflects a political view rather than an accurate reading of the words. The institutionalized ignorance is a powerful thing and IMO a key reason why so many people seem to accept that which is clearly absurd. They've been trained not to think about it except in an approved way. This is more than your average con, it is the ultimate long game.
You are aware of the problem.
You even have names for it:
The Great Reset,
The Fake Plague,
Digital Dollar,
Climate Hoax.
Bank collapse.
Any number of manufactured crises, designed to make you feel ashamed for working your way out of the dirt and creating a good life for yourself.
When that is all gone, then you will have nothing.
Because you allowed some bullies in fancy clothes, clothes that working people created.
To bully, bamboozle and blackmail you into giving up your power, power that is enshrined in the Constitution.
They are few.
Maybe 100K WEF-ist/Fascist/Communist types, globally.
We the People.
8 BILLION.
You seem to be waiting for some messiah to rescue you.
The Messiah is you.
Say NO! to tyranny.
They can't do anything to anyone.
All They can do is make stupid rules.
They can't make anyone comply.
With ANY of Their edicts, plots, and schemes.
People can either follow orders, and dig their own graves,
Or, We can take back our God given power to self determination, and
Freedom, and remove all these anti freedom, anti Democracy, evil and unevolved skin walkers from power.
They poisoned 7 BILLION PEOPLE with the COVID sludge.
A bug that was no more serious than a bad flu, easily thwarted with simple, cheap, vitamins and minerals and a clean diet.
Now do something about the Problem.
They are no more than schoolyard bullies, all grown up.
Addicted to power and the thrills They get from terrorizing others.
They love to inflict violence, confusion, fear and chaos, yet will run away when Their chosen victims turn on Them.
Do just that.
Don't ask/beg/bargain for your rights.
DEMAND YOUR RIGHTS.
It takes a stupid person to make a stupid rule,
And a fool to mind it.
Do not be a stupid.
Do not be a fool.
Do not consent to be a victim.
The stopping of the oppression begins and continues and perpetuates, one individual at a time.
ALL THE TIME.
Because, people who trade freedom for security, will achieve neither.
Stand on your feet, and live as a free person, or die on your knees,
a slave.
So, what do YOU want to do, with YOUR life?
Both our Liberty and our Rights come from God, not a corrupt government.
The man of lawlessness has been busy, but by no means does that mean we are to surrender our liberty or forfeit our rights.
There's definitely a reason they've decimated our military and broken our system of law enforcement.
As you said, there's not enough of them to reach their objective. To do so, they've got to turn us on each other.
They've miscalculated, thinking they've brainwashed enough of us into believing that culture dictates truth.
When this fracas comes to a head, it ain't gonna be pretty.
Fate favors the prepared. Always has, always will.
Make no mistake, the true Messiah is coming.
" They will wage war against the Lamb, but the Lamb will triumph over them because he is Lord of lords and King of kings—and with him will be his called, chosen and faithful followers.”
Revelation 17:14
Until then, I believe I'll stand on the side of true liberty and freedom.
Well said. This is the only way out of the mess.
So.
To your way of thinking, either way, under a Constitutional Democracy, one side has the power to subjugate the other.
This is not accurate.
In a Constitutional Democracy, we have a Constitution and a Bill of Rights.
All people are created equal.
Et cetera, et cetera.
That is the underpinning of everything.
Very simple.
If a law gets passed, by the actual majority, and that law is seen to be discriminatory against a minority, there is a means to petition redress.
Slavery, denial of voting rights due to race and gender and previous national origin, denial of health care due to gender and even race.
So many bad ideas.
Made into bad laws.
Denied rights of the few by the votes of the many.
Clearly, the zealots were behaving un-Constitutionally.
Happens often, alas.
All overturned later, by people of a more evolved and aware sentiment.
There are a sizeable number of people who don't want other people to have their Rights.
People of the Majority, and people of the Minority.
Someone, somewhere, is plotting and scheming to put their foot on someone else's neck.
All the time.
Some people don't even want their own freedoms, and they will see to it that other people can't have theirs either.
They will not be content to live their own lives as robots (Czech word for slave), they must control and restrict other people's lives as they would restrict their own.
And allow others to do to them.
The Unelected Beaurocracy.
Always correct about everything, everywhere.
The Omnipotent Class.
Two bit public servants, with delusions of grandeur.
They are content to live in little boxes, physical, mental, ideological.
And that is OK.
That is their choice:
To have no choice.
If one day, they decide to step outside of that sad little box, I believe that they have that choice.
No one has any business interfering with that.
That is what the US Constitution is about.
Other countries have their own Constitution.
That reflects their image of how they want their government to serve them.
It all evolves.
Of for and by the People.
One individual at a time.
Choice. Freedom.
You don't want it for yourself.
That's OK.
I won't try to interfere with your individual self.
I expect the same courtesy in return.
It is the decent thing to do.
I expect a better life for myself.
I have seen the other way, and it is unacceptable.
Oh, one more thing.
What is your Preferred Form of Governance?
Please be specific.
:)
Constitutional Republics exist.
On paper.
However,
It takes people, one individual at a time, to make manifest the beliefs encoded in said documents.
And they must uphold these concepts, one day at a time.
ALL THE TIME.
Checks and balances must not be neglected.
For, like any fine piece of machinery, a Constitutional Republic requires constant maintainance.
Or it will turn to shit.
And need an overhaul.
And repairs.
The time for that is now.
For pert near all governments. Globally.
IMHO.
The implement to stop it is right there in the Constitution and it always has been. It's called The "Militia of the Several States" = the fourth branch of gov't, the enforcement branch.
Yup, no argument. Question is: How?
Great speech. Who is actually going to take the risk and action of stopping them though? I have yet to see this counter movement. Substacks and comments are clearly not enough. Psychopaths only understand Force
It takes a stupid person to make a stupid rule,
And a fool to mind it.
Do not be a stupid.
Do not be a fool.
Do not consent to be a victim.
Just say, NO!
Do not comply.
One individual at a time.
That’s a huge ruling class. You have to understand. These cunts have fabricated our entire history. Salem witch trials fake same with Lizzie Borden murders. Her father owned a bank. And is related to chase. All these crypto Jews own the banks they marry within families and they run everything. All of Hollywood related. Finance related. Judges governors. Related. They run everything. They all need to die but the web is expansive.
This is fabulous..
It's a fait accompli, no matter what laws states pass to try to ban it, the crisis they engineer will get everyone begging for it, like the dummies begged for the vaccine "cure." FedNow will be the settlements system (blockchain without transparency). FedCoin will be the "currency" that is a weapon of mass enslavement. The plandmic octopus always had a CBDC as the last arm. That's why they trialed UBI "relief checks." The rest of the world already knows Bretton Woods is dead because global reserve currencies never last a century, but as usual Americans will be the last to figure it.
https://thegoodcitizen.substack.com/p/dancing-with-the-cbdc-devil
Except blank check Joe's digital currency isn't using blockchain. Reading comprehension skills are important before you opine about what is or is not finished, spanky.
Yes I know it's not using block chain and you think "Joe" can even fathom well then....
they are making it up as they go anyway
Yes, Central Bank Digital Currencies (CBDCs) can be used with blockchain technology, but it is important to consider the type of blockchain being used and its performance, scalability and cross-chain interoperability requirements.
There's no way they use blockchain. International bankers will never offer transparency through an immutable ledger. And no blockchain could support speed and scalability needed for tens of millions of transactions a second. People aren't going to stand around waiting ten minutes for block confirmations on their Slurpee and Twinkie purchase. Plus they couldn't loot the people's worthless money with a ledger, which is all they know how to do. But every wallet will be programmed, and monitored 24-7 so the IRS will know every Slurpee you bought.
So good citizen how long do they wait to charge their TESLA?? HMMM???
So we should all be idiots and get EVs so the corporate state that controls energy grids can control our movements? Teslas like vaccines and masks are an IQ test. It's a public display of low IQ.
No my point was that those people that own TESLA's wait what at least an hour to drive their car. So if they are willing to wait for that what else are they willing to wait for?
Part of the problem with CBDC and spreading the real message is some of the uninformed crap you hear from people trying to get the word out. I was listening to a reasonably well-known and well-informed truther in UK just the other day and she was ranting on about how all of our financial info would be on “the” (yes, there’s only one!) blockchain and digital ID would be stored and traded as NFT’s. No, and no! Why on earth would a central bank issued currency be implemented using a blockchain - the clue is in the name “central”. Not exactly the best use case for an inherently permissionless, immutable, decentralised, and poorly performing infrastructure. Doesn’t help with the credibility, does it?
I've heard some scuttlebutt about the BANKS themselves not wanting CBDC cause umm...what are they needed for?? Not sure about that story.
Why would they want it? If the central bank is issuing currency directly to Joe-public (which I’m not convinced it would be at first) then doesn’t it mean the end for commercial banks?
If the banks can’t create “money” then they’re screwed - they could be our best hope 😂😉
(The UK House of Lords actually described CBDC as a solution in search of a problem!)
They won't issue it directly to Joe Public. They'll issue it to bank connected Fed wallets. Banks will still be servicers and profiteers of peoples debt- Mortgages, autoloans, student loans. The central banks don't want to manage the debt slaves' debt. But there will only be a handful of banks by the end of the decade.
https://finbold.com/u-s-credit-unions-association-says-cbdcs-are-not-worth-the-costs/
From the community bank perspective in the US
The Big Picture
While the United States contemplates its role in the development of a future electronic money and the global financial system, any CBDC rollout should preserve the critical role of community banks as economic engines of the U.S. economy.
https://www.icba.org/newsroom/blogs/main-street-matters/2021/08/13/why-community-banks-should-play-an-important-intermediary-role-with-a-cbdc
https://medium.com/quantum-economics/will-cbdcs-eliminate-the-need-for-commercial-banks-2e6ab632dff2
BidenBucks 🤣🤡
Stop being such a pussy and get on Qortal
Qortal: All the buzzwords of Web 3.0 with buzz graphics. Gamification of attention with levels for minting instead of creating a unique consensus mechanism using proprietary algos that run behind the curtain and don't turn it into a speculative whore house with people chasing tokens instead of useful communication and information. Close but no cigar. Though, I've seen much worse. C-
They literally DON'T use the buzzwords, literally just yesterday in a convo one of the guys was saying how they can't do that, because such words have been co-opted by those were do not use them correctly. He gave the example of cross-chain transactions, which are not truly cross-chain.
And yes, unlike a purely speculative coin on a network too slow to use, Qortal is all about communication, information and free speech. Which part of that didn't you like?
it's not a privacy token (essential in post-cbdc world) and the word privacy appears once on their website, but nowhere near their tech. You cannot have free anything in the digital sphere without privacy (token transactions and content creation). offering an encrypted messaging app is not what I mean either.
I spent five years researching this for a doctorate, so it's not what I like or don't like, it's what is or isn't required to build a new and truly decentralized internet with privacy, and a token of real value, all of which are beyond the reach of states, with no "founders", no foundation, no organization, no tiers, no executives to sell their souls to silicon valley VCs, no ico, no ito, no kyc, no tokens premined for nodes, only premined for the network to self-automate value, no mining, a network powered by people all over the world.
This is a another software (defi) app operation. And if servers belong to third party hosting corp., it's not decentralized. If nodes are co-hosted or co-sponsored (download of others' data required per their own website) then it's distributed and uptime depends on others, data is not fluid. It's more like P2P sponsorship. Mesh networking is the right idea though.
there's no true value backing the token, no true privacy, and no self-automating network to balance time, attention, content, engagement, value, and circulating tokens, so some reserves are burned based on self-assessment through scaling up or down depending on node count, content value, attention extraction etc, ie a smart network that is inherently programmed toward deflation. Think of a swimming pool that balances itself as it expands and more people piss in the pool and it doesn't ever need to be maintained.
Also blockchain is not the tech for privacy. Needs to be layered like a cake, for speed and scalability, something like a three layered DAG. Network-value. Node-value. Content-value. compartmentalized for security. Tokenization runs in the background behind those three that germinates over time based on the entire picture and distributes tokens based on fluctuating figures with the network, nodes, content, value added, keeping reserves for deleted content and nodes. If content is deleted, it takes away value from the node and network that was previously added. If a node leaves (deletes), which is essential for privacy "right to be forgotten"- self-amending chain (which only Tezos appears to be working on)- then the value that node added, needs to be paid for in tokens as value deducted because the swimming pool is losing a swimmer, but the swimmer needs to pay to leave, a fluctuating amount always kept in their reserves for that option based on the value of their node in relation to the whole network. Network needs to be powered by users with incentives to power it. Substratum had the right idea with how that should work to decentralize a new internet.
The leveled minting schedule is atrocious. Based entirely on time wasted passing blocks rather than quality of content contributed and consumed by others (attention-labor-value). It's a multi-level marketing or ponzi scheme incentivized with founder nodes taking 3% of every block just because their "trusted"?
Value is the nectar of online attention. Time is just one measurement of attention-value. Time on the network doesn't equal value added.
Not proof of work. Not proof of stake. Not proof of time.
Proof of Network Value.
Nice idea, great credo, would probably enjoy a pint with the founders at a Reno pub, but wrong premise.
Tell Jason and his Qort crew to get together with Justin Tabb, and create a multi layered compartmentalized and interconnected self-amending DAG run as a self-automated network powered by users. with tokens not the incentive, but Proof of Network Value the mechanism guiding the network (adding network value as nodes, and content, attention-labor) based on all of the above with P2P token transfers possible using zk-SNARKs and I'll gladly work for free on the project and actively promote it.
Holy hell they have floating nodes and edges on their homepage. It must be the future!
Oh good citizen you wait baby.. Qortal IS the future!! TOTALLY decentralized, no KYC and just wait very soon all the apps you wanna have at your fingertips. Just remember FREE speech is FREE for everything or NOT really FREE!
It's going to create a huge black market where people simply use old silver coins as money once again.
Yep!! And Crypto that is not a security.
Check out qortal.org white paper join anytime.
So... the same government that rolled out the Obamacare website is going to be in control of a digital banking system? Right.
I, for one, look forward to the day (probably CBDCs day 2) when hackers add six zeros to every bank account. Just because they can.
Maybe we can get a hacker to start that plan right now LOL
I have a very liberal friend. I explained CBDCs to her and she was... stunned. Yet I have another liberal friend who just shrugged and said something to the effect of "well, it's progress, we have to adapt.'
I do have to add the second friend does have a fondness for smoking pot, so that could play into her opinion. LOL.
Problem is they have all those on entitlements already on a system they can control. And Millenials and "X" are more likely to bank on their phones so easy peasy for them!!
A lot of people in the USA have figured it out. Do not go quietly into that dark blockchain night.
They don't send out paper checks anymore and when you are living "off the card" no need to have a bank at all.
A timely warning. I think though that that is more Fire than they want to drop on the dry tinder of the American people right now, but I could be wrong.
I think that rather than making such a move openly they will nationalize the banks a la unlimited FDIC guarantee in exchange for even more control of banking. I expect that they get all of the backend up and running in the banks and hold off on the face of Beastcoin for now.
As an aside, is there a point where we say enough is enough? Or is talking as far as we will ever go?
*edited for spelling
They've already announced that the CBDC goes live THIS July. 2023. It has been in several substacks the last 2 days. With links to the information.
I wouldn't bet on it. Any plans they have went out the window a long time ago. They are just trying to hold the doors on long enough for it to be somebody else's problem.
I won't believe in their master plan for two reasons. One their sheer incompetence has more unintended consequences than they ever imagined. And two they are not the 'stick to it' kind. When things get hairy they make stuff up to try and save their own butts. There is no master plan anymore just stupid, panicking deer in headlights.
Well, I hope you're right.
They are pushing out "Fed Now" which isn't a total CBDC but close.
True, but they haven't posted anything new on FedNow since September, that suggests to me that it isn't on track for release. September is about the time that they admitted inflation was 'sticky' if I remember right, hopefully reality has pushed this horror away for awhile. Or I could be overly optimistic and they are just doing a low key launch. Unfortunately, if they are low key it is not because they fear the American people much as we might wish otherwise, we have proven to be all too pliable to their will, so far.
Well maybe they will have it ready. I'm still betting against them though. I don't doubt their malevolence just their competence
We can walk away - Qortal
Well they have pretty much looted the 'developed world's that we don't lose much by walking away. I guess here in rural Georgia walking away just means becoming more disengaged from society and ignoring their laws ever more. That sounds pretty good. But I suspect there will have to be a confrontation sometime. I would prefer sooner to later but I will keep waiting for the right opportunity
CBDC combined with ESG is a digital social credit score gulag. Here are the receipts on SVB: https://yuribezmenov.substack.com/p/svb-linkedin-receipts
Journalists like yourself, and others in a position to ask questions, should ask the experts: Why CBDCs rather than a gold standard? CBDCs are just another "currency" tethered to nothing of actual value. Isn't the root cause of the problem the fact that there is nothing stopping governments from abusing their power to create money?
It's far more than just another currency. It's total spying and control, down to the individual person and individual purchase.
Exactly. What is the mechanism by which CBDCs restore faith in a system that is $32T in debt? Is that $32T magically going away the minute CBDCs are instituted? We already have digital money, how often do you pay for something of note with paper money or write a check?
Digital currency has not helped China's debt problems...why would it help ours?
It's not to help us, it's to give them absolute control. Please look into Qortal and join the network
The answer to that is "Next question"
Thanks so much for posting information about members of Congress who are actively opposing a CBDC. Prior to this I'd heard of only one. Under the Constitution, which by the way doesn't mention "the Fed", Congress has the sole power over coinage. Congress need to wake up and take back the power they have for too long ceded to the executive branch. Here's legal scholar's article laying out why only Congress can implement a CBDC: https://bpi.com/legal-authority-to-issue-a-u-s-central-bank-digital-currency/
It will take years to develop, debug and fully deploy a CBDC system even if there was enough public support on implementing it, and I suspect there is not. On its current trajectory, our fiat currency system won’t last that long. It’s not going to be pretty either way.
No, the technical part doesn't take years. CBDC is just some proverbial "money" issued by the government and it doesn't have to be blockchain. FedNow is a government platform which can be used to manage it, it has been in development since 2019 and will be launched in 2023.
The obstacle is legal and might take years. You can't just outlaw other assets, the regular currency, bitcoin and cash. But they're trying to pass bills to redefine the word "money":
https://dailyclout.io/the-tyrants-are-passing-state-laws-to-push-cbdcs/
They can just copy any of the existing crypto currency systems. It's not as hard as it sounds now, and they have been preparing for some time.
I agree. Consent was never asked for, nor given. This is a massive red flag and in my opinion, CBDC will fail, miserably.
CBDC's will destroy what is left of the country. It will be a living hell. To get your fake digital dollars you will need to submit to all mRNA injections, as many as they demand. You will need to pledge allegiance to the leftist democrat party. You will need to disavow Trump and all republicans. You will need to surrender your gas vehicle. You will need to surrender your guns. You will need to surrender all of your freedom to move about. You will eat only the garbage they allow you to eat. You will give up your religion. You will gladly submit to any and all demands made by the state at any time. Got it?
Suggestion,
Use cash as much as possible.... for everything you can.
The more people using cash, the less likely it is that they will try to do away with it.
A) Seems like the Fed fears the Venmo’s of the world.
B) Bitcoin scares them and would be a threat if it ever escapes the speculator mentality
C) Potentially the main benefit to the elites and control driven bureaucrats is the social credit system
D) This tactic of launching CDBCs will make cash King, unless they outlaw it. Then we’ll see how much the populace cares.
Qortal is exactly what you are looking for
YES I would agree EXACTLY!
https://qortal.org/
Here’s the play: As non-favored banks begin to fail, as they will very shortly, ( SVB obviously a highly favored bank consisting of 99.9% hefty lefty donors and PC power brokers and influencers) the Fed will claim FDIC can not (true) and will not make depositors “whole” ...but as a “caring and gracious” overlord they will offer a generous alternative: ( take it or leave it) every dollar of deposit lost will be backed by the full faith equivalent of CBDC’s.
And that, ladies and gentlemen, is the story of a carefully manufactured crisis being utilized to bring forth the planned implosion of the American dollar.
VOILA!
How are faster payments going to solve the banking crisis? FedNow might serve as a government platform but isn't the same as CBDC.
https://cointelegraph.com/news/federal-reserve-confirms-july-launch-for-fednow-instant-payment-service
"a CBDC would take far longer to get off the ground than FedNow due to regulatory hurdles"
(especially, the Fourth Amendment)
They're trying to pass laws on a state level to redefine "money":
https://dailyclout.io/the-tyrants-are-passing-state-laws-to-push-cbdcs/
Oppose those bills NOW in your state:
https://www.uniformlaws.org/committees/community-home?communitykey=1457c422-ddb7-40b0-8c76-39a1991651ac#:~:text=The%202022%20amendments%20to%20the,intelligence%2C%20and%20other%20technological%20developments.
The SVB collapse was caused by 3 factors: 1. mistakes made by the management 2. Federal Reserve raised the rate too quickly 3. panic. It's justified to be concerned but watch for those spreading panic, they're not your friends.
The worst of all this is the debasement of savings.
$12T were issued for "COVID", per the St. Louis Fed Reserve Bank's M1 statistics.
Who received these funds? Who DIDN'T receive a penny?
What about the recent unlimited bailout of depositors at SVB? Who paid for that?
Why the savers did. A way out of this would be to restore Double Liability for Bank Shareholders, Directors and Officers. They would share PERSONAL LIABILITY for their actions.
https://decodetheworld.substack.com/p/double-liability-for-bank-shareholders
It is going to be the retailers that enforce CBDC's. If States/Provinces allow other forms of currency to be used and that retailers can opt out of using digital exclusively, it will kill any control measures they have in mind. for the time being anyway.
Buy lead, lots of it!
Is bitcoin a hedge against this, as gold previously was (could still be?) to the dollar?