The article misses what's important.
It doesn't matter if the digital currency is backed by gold, oil, or beanie babies.
The problem with digital currencies is that they can be tracked and frozen by a central authority. That means your money can easily be programmed to "expire", lose value over time if you don't use it, or be frozen if another variable like your "social credit score" gets too low. It can be frozen if they don't like your politics. Pretty much anything is possible.
If TexasBucks don't have open source privacy that make them pseudoanonymous like cash, they will still be used as a surveillance state tool. It would need to be designed to be private from the very beginning, and that won't happen, because there are federal "anti-money laundering" rules that allow them to arrest anyone who tries to do something like that if it can be tied back to an entity like Texas.
They have been talking about making a programmed to expire currency forever so that you cannot accumulate wealth. You will have exactly as much as needed week to week to live and complete your assigned work. If you are a elite you will have anything you want without cost.
Every time people start talking about CBDC or a fully cashless society I point them to the movie "In time" https://www.imdb.com/title/tt1637688/
The idea would be different (for now, They will just freeze/take your currency). However, The only currency you really have is your life. Taking away someone's earned currency is taking their life from them.
Thank you! You saved me a lot of typing. The jews use this trick of distraction of the real problem. In this case, there are 2.
- Gold back derivatives. As you correctly pointed out, what kind of derivative the token is doesn't matter. But it resonates and distracts the deplorables.
- Digital tokens. This is the actual danger. Digital tokens are bad because they don't actually exist: you don't own anything. You need a physical claim for the gold. The other danger is this opens the door for the plutocrats to control everyone using the currency.
When you hear the word "digital" thrown into politics or monetary policy, it's a code word for control. You will no longer have sovereignty.
(post is archived)