CBDCs are Destructive, not BCH

Now more than ever before, the importance of investing time, energy and money into cryptocurrencies cannot be underscored, for it is a matter of personal freedom from the long reach of oligarchs and world governments. Allow me to expound.

We citizens of the world must take advantage of the opportunities we presently have to make the best decisions regarding cryptocurrencies while we are able.This is because CBDCs have come or are coming.

It should be noted and made plain as day that digital dollars would have absolutely nothing whatsoever to do with crypto or decentralized finance, at least at the early onset of the implementation of digital dollars. But this too would be susceptible to regulation by our respective government, and we are already aware how much some governments despise crypto and financial freedom.

When it comes to crypto, I favor #BCH and #ADA (Cardano). I also make a concerted effort to write daily and earn what I can here on read.cash and through trading. Excuses for not writing and earning #BCH are like opinions: one can justify anything, just like a drunkard can justify a morning drink. You must discipline yourself NOW if you have any expectation of hodling BCH (or any other cryptocurrency) and breaking free from the increasing pressure of a digital boot on your neck.

Power grab

Our governments are no longer our friends. The sole role of governments is to keep their citizens safe. That is it. But our governments long ago diverted from this path and began the subtle move towards a nanny state. The objective of governments more than ever is total control. They are the central planners. This is easily observed and discerned when looking at the response to the #pandemic by all governments. If you think for a moment that any government has your best interest in mind, then you have been either blinded or are asleep in a fantasy world of your own making.

And now our governments no longer like cash because they cannot control where it is spent and what is bought. Cash allows an individual to buy whatever she or he desires, providing they have enough money. In like manner, crypto may be converted to fiat cash with relative ease, again, providing an individual has the right crypto.

CBDCs

A central bank digital currency (CDBC) has already been implemented in China, but multiple governments are feverishly working to usher in their respective form of a CDBC, along with the associated social credit score. Ask Chinese citizens how that is working out. Oh, wait, you really can't.

The following countries are on the verge of issuing or testing a CDBC like that of China: Sweden, The Bahamas, France, The #Philipines, Japan, Turkey, and Switzerland.

Cash is on the outs. It is filthy, costly to print, and some coins cost more to stamp out than their face value. Below is a list of countries, as of July 2021, that are moving to cashless transactions.

Our future scenario

Wake up. I mean, really. Destructive digital dollars demand dependency.

Take note that each CDBC would allow a government to track every purchase you make. Each government would be able to control their own economy, whether it is sluggish or too hot. The possibility of your ability to purchase anything outside of your home country would be adversely affected, and perhaps even by regional borders within your state.

But that is not all.

Diabetic? No more purchasing of products containing sugar for you! Like guns and hunting? No more ammo for you, because it is "for your own good." Want to buy a home? Let's have a look at your social media first. Trust me, the technology is already place to ensure that every digital footprint one makes is available for governments to observe. You can find this on the Internet for yourself.

With regard to a CDBC, and according to MN Gordon of the Economic Prism, "...control over how you spend your money could be executed in countless ways. Monthly limits could be placed on how much you’re allowed to spend.

You may have significant savings in your account. But you can’t spend it, because you’ve already exceeded your monthly allotment. Too bad. You must wait until next month before you can make further purchases.

So, too, the digital dollars in your account could be assigned an expiration date.  You must spend them by a certain date or they expire worthless. You must use it or lose it."

While there is still time...

If you have failed to recognize what is coming down the road you are going to be caught flatfooted when your government CDBC is implemented. Your money will cease to be your property (money is property) and instead be the property of your government.

Although I am not a financial advisor, it seems to me that each of us needs to get serious about how we want to control our money. This necessitates critical thinking. This means setting aside pleasures like video games, social media, sleeping, etc. for a time and getting busy to prepare for your financial future.

Sure, you can blow the whole CDBC idea off as you will, but I would suggest that you do so at you and your loved ones peril. As for me, I choose to be a warrior over a slave and one dependent on government for my freedom and livelihood.