Regarding the bitcoin ATM's... who owns those? Banks? Any likelyhood one would be locked out of those also?
"I believe there are reputable bullion dealers who accept Bitcoin. This should provide a mechanism to convert Bitcoin to cash without a bank." ---- another reason to have gold and silver! Though this would be a slow process... have to get the metals to the dealer somehow to sell and convert. Of course, large fees.. but would be one method.
Reason I'm asking... in regards to what has taken place in Canada.... when strong arm of government locks up financial assets with a few keystrokes..,. what recourse does the little man on the street have? Perhaps gold and silver are one of the best protections? Lots of places to walk in with gold and silver... and walk out with cash in hand.
Those gas station and bar atms (btc/regular) are usually owned by a private company unless they're bank branded. And, the banks LOVE the private ones - $3 withdrawal fee on top of the private atm withdrawal fee. Costs me $6 if I use the one at the watering hole, which is a rarity usually due to some gambling fun.
Countries suddenly understand that control of and dependency on their individual currencies is at risk.
Note the four concerns with eliminating cash and having strictly CBDCs that I have repeatedly pointed out:
1. It will grant central banks far more power over our payment behavior.
2. That power could be used to “program” our spending.
3. No limit on negative interest rates.
4. Financial exclusion on steroids.
The real reason politicians support CBDCs:
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
And before coho tries to convince you this is misinforation and that he is smarter than the author take a look at the author's credentials and feel free to ask coho for his.
James G. Rickards is the editor of Strategic Intelligence, Project Prophesy, Crash Speculator, and Gold Speculator. He is an American lawyer, economist, and investment banker with 40 years of experience working in capital markets on Wall Street. He was the principal negotiator of the rescue of Long-Term Capital Management L.P. (LTCM) by the U.S Federal Reserve in 1998. His clients include institutional investors and government directorates.
His work is regularly featured in the Financial Times, Evening Standard, New York Times, The Telegraph, and Washington Post, and he is frequently a guest on BBC, RTE Irish National Radio, CNN, NPR, CSPAN, CNBC, Bloomberg, Fox, and The Wall Street Journal. He has contributed as an advisor on capital markets to the U.S. intelligence community, and at the Office of the Secretary of Defense in the Pentagon. He has also testified before the U.S. House of Representatives about the 2008 financial crisis.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Digital currency is how China controls it's population. If we get it here there will be no need for a 1st or 2nd amendment. Several others like search and seizure (4th) will go the way of the Dodo as well. We cannot allow this to happen....what the frick would I collect then?
bob
Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
". . . not only financial freedom that’s at stake: these centralized digital currencies can be used by governments to monitor, to control and even to directly punish dissenters, by blocking transactions, freezing their accounts or seizing they assets. Some might find that farfetched, but those are probably the same people who thought that China’s “Social Credit System” was implausible too, right up to the moment it was actually implemented." - Claudio Grass
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Comments
"The US Govt has already proven its ability to freeze and seize cryptos."
Agree to this.
Regarding the bitcoin ATM's... who owns those? Banks? Any likelyhood one would be locked out of those also?
"I believe there are reputable bullion dealers who accept Bitcoin. This should provide a mechanism to convert Bitcoin to cash without a bank." ---- another reason to have gold and silver! Though this would be a slow process... have to get the metals to the dealer somehow to sell and convert. Of course, large fees.. but would be one method.
Reason I'm asking... in regards to what has taken place in Canada.... when strong arm of government locks up financial assets with a few keystrokes..,. what recourse does the little man on the street have? Perhaps gold and silver are one of the best protections? Lots of places to walk in with gold and silver... and walk out with cash in hand.
And of course having some cash on hand never hurts in emergency.
Those gas station and bar atms (btc/regular) are usually owned by a private company unless they're bank branded. And, the banks LOVE the private ones - $3 withdrawal fee on top of the private atm withdrawal fee. Costs me $6 if I use the one at the watering hole, which is a rarity usually due to some gambling fun.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The long reach of economic sanctions is expediting international CBDC implementation. Best critique of CBDCs that I have come across.
Countries suddenly understand that control of and dependency on their individual currencies is at risk.
Note the four concerns with eliminating cash and having strictly CBDCs that I have repeatedly pointed out:
1. It will grant central banks far more power over our payment behavior.
2. That power could be used to “program” our spending.
3. No limit on negative interest rates.
4. Financial exclusion on steroids.
The real reason politicians support CBDCs:
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
6pk of Heineken $7.99
TRANSACTION DENIED, third beer purchase this month. Reasons: import balance of payments, excessive carbs, weight, you're behind on your taxes.
I want a second opinion.
YOU'RE UGLY TOO.
Leave the FED to managing what they wage best: War.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Welcome to 1984.
And before coho tries to convince you this is misinforation and that he is smarter than the author take a look at the author's credentials and feel free to ask coho for his.
James G. Rickards is the editor of Strategic Intelligence, Project Prophesy, Crash Speculator, and Gold Speculator. He is an American lawyer, economist, and investment banker with 40 years of experience working in capital markets on Wall Street. He was the principal negotiator of the rescue of Long-Term Capital Management L.P. (LTCM) by the U.S Federal Reserve in 1998. His clients include institutional investors and government directorates.
His work is regularly featured in the Financial Times, Evening Standard, New York Times, The Telegraph, and Washington Post, and he is frequently a guest on BBC, RTE Irish National Radio, CNN, NPR, CSPAN, CNBC, Bloomberg, Fox, and The Wall Street Journal. He has contributed as an advisor on capital markets to the U.S. intelligence community, and at the Office of the Secretary of Defense in the Pentagon. He has also testified before the U.S. House of Representatives about the 2008 financial crisis.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Fed debates ? What's to debate when you control the Treasury ? Insurgency is more than 100 yrs old. Knock knock !
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
And, another reason I keep adding to the stack. . .
Is CBDC banking simply a cover to default on the national debt and to pass that debt on to Federal Reserve Bank controlled digital account holders in the form of a massive dollar devaluation?
If so, your dollars (all of them) will lose massive value during the "conversion."
Somebody's gotta pay that debt. LOL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Digital currency is how China controls it's population. If we get it here there will be no need for a 1st or 2nd amendment. Several others like search and seizure (4th) will go the way of the Dodo as well. We cannot allow this to happen....what the frick would I collect then?
bob
Most Americans will wake up one day and wonder why they have a new bank. LOL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The Bank of Social Credit Score and Constant Surveillance?
I knew it would happen.
". . . not only financial freedom that’s at stake: these centralized digital currencies can be used by governments to monitor, to control and even to directly punish dissenters, by blocking transactions, freezing their accounts or seizing they assets. Some might find that farfetched, but those are probably the same people who thought that China’s “Social Credit System” was implausible too, right up to the moment it was actually implemented." - Claudio Grass
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong