Digital Currency Can Be Programmed With An Expiration Date
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September 30, 2022As I hold on to the last of the electricity before Hurricane Ian hits the Carolinas, I’m scrolling through social media accounts I’ve never been on before and learning all kinds of new things. This is not new information, but did you know that China’s digital currency that rolled out last year was PROGRAMMABLE TO HAVE AN EXPIRATION DATE? My brain can’t even.
Imagine just wanting to be a normal person and save money to start a business, get out of debt, or even just give someone a gift. And the bank is like nah, you didn’t use it so we got rid of it.
After the original digital currency trial ended China announced that their new Central Bank Digital Currencies will be set to expire. And every Chinese citizen will use this system within the next two years.
Imagine if your economy isn’t doing well. Inflation is high, mortgages are up, and income is stagnant. How do you get people to spend money and boost the economy? Yup, you threaten to take that money away. How crazy is that?! Now you’re living paycheck to paycheck under a government that determines when, how, and possibly where you spend YOUR money. That’s if you’re in good political standing and your social credit score allows you to spend in the first place. Do the fact checkers get to grant this authority? Either way, you’re fully dependent on their credit system and will never be financially independent again.
If the government can determine when you spend, what’s to stop them from determining where? American made? Sorry, politicians just did business with Saudi Arabia and promised our citizens would get supplies imported from there, so currency will be programmed to promote compliance. Eat meat every night? Maybe not. Your digital currency may decide your family is going vegan. That would definitely go down in California, we already know it! Do you want to buy gas? Haha…no. Because they’ve decided to limit your carbon footprint. You’re going a whole lot of nowhere.
The implications are staggering. I’m not at all surprised China did it, but I’m leery of absolutely anyone who thinks this is a good idea. This is one of those things many Americans aren’t paying attention to, but should be. We heard when Justin Trudeau froze the bank accounts of those who supported the Truckers Freedom Convoy, but did we really pay attention?
Some countries have already begun implementing their own digital currencies, and in the United States the Federal Reserve announced that July 2023 will see the FedNow Service, a full scale testing pilot of a similar system. Oh, it’s coming. And once again, conspiracy theorists are killing it these days. Watch what’s happening and learn more.
4 Comments
The one and only protection for your savings, regardless of their size, is genuinely hard assets: commodities such as gold and silver. These things are widely valued and cannot be inflated like a government-managed currency. That’s why governments hate them.
One of the most unfortunate things about our economy is the percentage of people’s assets that are non-physical: particularly savings in 401ks and IRAs. When you check your account, you may be cheered by the numbers, but to use the purchasing power you’d have to withdraw it. That would trigger the tax consequences, which is a big disincentive for typical Americans to protect themselves from what’s coming. So we tend to leave the greater part of our savings by far in this inherently vulnerable form. The decline in the stock markets have made it plain just how vulnerable they are.
Oh absolutely. I’m watching my mother deal with this right now as her life savings is in the stock market. She’s watching it dwindle away, but she can’t move it without serious penalty. The best advice I’ve ever been told is to watch what rich people do in a financial crisis and do the same. They’re certainly not putting all of their eggs in the stock market.
I most certainly fear that thus type of thing will happen here in the US. It’s basically starting already with a small amount of companies only accepting credit card payments. The reason being so the government can track all of our payments.
Yup! And with coding gun shops differently and trying to keep better track of these purchases they’re setting themselves up to be able to track and limit so many aspects of our lives.