We already live in a digital world. We have for a few decades now at least. Emails, internet, blogs, etc. and we still find more to add to our digital lives – like NFTs and Cryptos.
The US Government is looking to create a CBDC (Central Bank Digital Currency) and put it into beta testing in December 2022 last I heard. There are places where you can get a chip in the web of your hand between your thumb and index finger to pay for groceries.
Convenient? I am sure it is.
What are you, me, and the rest of society giving up for such conveniences?
For the CBDC’s, the Federal Reserve might look to get rid of hard cash. In that case, they can see every transaction you make. There are some that argue that they can make your money “expire” and disappear from your account if you don’t spend it fast enough. Others say they will mandate what you can spend it on. To me it sounds like 1984 and Atlas Shrugged on our doorstep, ready to cross the threshold.
If we do go full digital, with no cash in circulation – what does that mean for our privacy in any regard? How would we transact if there is a power outage from a hurricane, snowstorm, or just because the grid finally fails for some reason?
What do you have in your access – items, alternative funds, skills, etc. – that you can use to barter for what you need in a black market should it come to that?
Some speculate that the CBDCs and the account you hold with the Federal Reserve could be shut off completely in the event that you don’t participate in activities or something that they don’t approve of. In that case, if they move everything into a digital format, they could essentially wipe you from the servers and you wouldn’t exist. You wouldn’t be able to function in the fully digital world where your digital biometrics, identity – everything about you – are stored.
How would you survive in such a situation?
What can you do now to get ready for a situation like that happening?
Maybe it’s just me, but it’s starting to look more and more like Atlas Shrugged and 1984 out there.
Who is John Galt?
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