CBDCs, crypto and gold.

[SidS]

A question I've been pondering for a while, and one that has been asked in various ways on the forum, but I thought I'd grasp the subject by the thorn.

We know the Great Reset is a goal of some (WEF) and has been planned, whether this is picked up by governments and is also their goal is another question.

We know that inflation is growing and that fiat is facing uncertain times.

We also know that CBDCs are in the pipeline.

Those are the facts. The questions I've been wondering are as follows?

1) Is there a specific timeline for CBDCs to come on line, are we talking the next two or three years, or 2030s-2040s etc.? (Inflation dependent of course).

2) If (when) fiat is phased out and CBDCs are the only means of payment, what happens to crypto and gold? (A black market notwithstanding, how does one convert either form into CBDCs without questions arising? Will such purchases be permitted?)

3) Does crypto have a future? I know it was designed as a currency, but from what I've seen it seems to behave more like a speculative investment. Would crypto survive as say a stocks/shares type investment vehicle? The banks seem pretty keen to clamp down on crypto - as they don't control it. If they ran the system then I'm guessing its future would be rosy - but that would negate a lot of the benefits of crypto being 'outside' the system.

4) Gold will no doubt preserve your wealth as its value will no doubt remain. Great for the gold you already own. But with CBDCs would you be permitted to acquire further gold? Or will it be seen as a none essential and thus not part of your 'credit allowance'?

I ask a lot of these questions as I'm not the typical stacker.

I collect coins and antiques. So silver for example features heavily in my purchases because I buy things which happen to be made from silver, not necessarily because they are silver, pocket watches for example. With CBDCs would I still be permitted to collect these things?

[SilverJacks]

Without knowing for sure the answers, or being able to prove anything if they were known, I’m quite confident that government are not only in on the plan, but are under the control of these kind of people. Klaus Schwab and the WEF are just a front for the richest and most powerful “global elite” who own the banks, and with it, the economy. Behind the front will be the same old names, Rothschild, Rockefeller etc.

 

I’m quite suspicious of crypto. The pros for it seem like rhetoric - “it’s the future” and “it’s decentralised” - no one knows what kind of future is in store for crypto and it’s hardly decentralised when a large chunk of the market cap is from anonymous, institutional investors. It is so decentralised that it’s inventor is a pseudonym and it’s price is easily manipulated by a single Elon Musk tweet.

The only reason people look twice at crypto is it’s price. If it didn’t have the tendency to soar wildly then no one would care about it. As for a store of wealth, well it’s just lost 80% ytd and is capable of doing a TERRA/LUNA at any moment. The technology behind it, on the other hand, will likely be adopted by central banks to introduce their programmable currencies, which I suspect is the plan all along.

As for gold, things are only worth what one is willing to pay and if they (the elite) can convince the masses that NFTs are more valuable than precious metals, they can probably convince us to trade in our gold for a digital picture of a teddy bear wearing a unique hat.

I do hope those that collect interesting items like PMs, antiques etc remain strong in number, but it doesn’t really fit in to the “you will own nothing and like it” agenda outlined by Schwab. I dont mean to be pessimistic, but as things stand, that’s just how it seems. The trajectory we are on does not look good.

[Bigmarc]

I feel most people won't notice the difference, they will use there card blindly as they do now. Cash is already being phased out to the point where I have stopped asking business if they take card, it's now do you accept cash? I found myself doing this since my last holiday to bath. Cash was almost an inconvenience and ended up just using a card. 

With crypto, our friends across the pond are talking about regulation, splitting it up between security's and commodities. Much of the dross and chancers will die with this but may take a while. 

Buying precious metals. The only problem I see with this is if someone was trying to dodge paying tax. Can't see any other reason to prevent someone buying something. 

 

 

Edited June 25, 2022 by Bigmarc

[LawrenceChard]

1 hour ago, SidS said:

A question I've been pondering for a while, and one that has been asked in various ways on the forum, but I thought I'd grasp the subject by the thorn.

We know the Great Reset is a goal of some (WEF) and has been planned, whether this is picked up by governments and is also their goal is another question.

We know that inflation is growing and that fiat is facing uncertain times.

We also know that CBDCs are in the pipeline.

Those are the facts. The questions I've been wondering are as follows?

1) Is there a specific timeline for CBDCs to come on line, are we talking the next two or three years, or 2030s-2040s etc.? (Inflation dependent of course).

2) If (when) fiat is phased out and CBDCs are the only means of payment, what happens to crypto and gold? (A black market notwithstanding, how does one convert either form into CBDCs without questions arising? Will such purchases be permitted?)

3) Does crypto have a future? I know it was designed as a currency, but from what I've seen it seems to behave more like a speculative investment. Would crypto survive as say a stocks/shares type investment vehicle? The banks seem pretty keen to clamp down on crypto - as they don't control it. If they ran the system then I'm guessing its future would be rosy - but that would negate a lot of the benefits of crypto being 'outside' the system.

4) Gold will no doubt preserve your wealth as its value will no doubt remain. Great for the gold you already own. But with CBDCs would you be permitted to acquire further gold? Or will it be seen as a none essential and thus not part of your 'credit allowance'?

I ask a lot of these questions as I'm not the typical stacker.

I collect coins and antiques. So silver for example features heavily in my purchases because I buy things which happen to be made from silver, not necessarily because they are silver, pocket watches for example. With CBDCs would I still be permitted to collect these things?

Sorry, but WTF is a CBDC?

I had to use Google to remind me what WEF is (The World Economic Forum), but all I could easily find on CBDC was about Small Business Development Corporations, Small Business Development Centers, I even expected Google to ask "Did you mean CBGB's?"

😎

[SidS]

Central Bank Digital Currencies.

[Martlet]

55 minutes ago, LawrenceChard said:

Sorry, but WTF is a CBDC?

I had to use Google to remind me what WEF is (The World Economic Forum), but all I could easily find on CBDC was about Small Business Development Corporations, Small Business Development Centers, I even expected Google to ask "Did you mean CBGB's?"

😎

Central Bank Digital Currency. 

In the fevered mind of some they will replace currency and the government will control what you can spend on.  In practice they'll only appeal to statist nations, like China, because with control over spending comes responsbility to provide for the population.  China is culurally fine with that, Western liberal democracies would rather tell you what to do from arms length, let you get on with the day to day.  The real advantage of them, and crypto generally in future, will be in the finance industries, where they tracking of ownership of assets reduces risks.  

Edited June 25, 2022 by Martlet

[Abyss]

Lynette Zang from ITM TRADING, INC hundreds videos about Great Reset and CBDCs

https://www.youtube.com/c/itmtrading

I am no expert only my opinions

1) Is there a specific timeline for CBDCs to come on line, are we talking the next two or three years, or 2030s-2040s etc.? (Inflation dependent of course).

Central banks want them sooner the better most likely be a major black swan event and consolidation of a number of fiat currencies and and introduction of CBDCs. No timeline guessing game... How long is a piece of string.

2) If (when) fiat is phased out and CBDCs are the only means of payment, what happens to crypto and gold? (A black market notwithstanding, how does one convert either form into CBDCs without questions arising? Will such purchases be permitted?)

Always be a market place for Gold. Maybe certain governments try to scale back its use but ultimately always be able to find sellers and buyers of Gold in the world market place.

3) Does crypto have a future? I know it was designed as a currency, but from what I've seen it seems to behave more like a speculative investment. Would crypto survive as say a stocks/shares type investment vehicle? The banks seem pretty keen to clamp down on crypto - as they don't control it. If they ran the system then I'm guessing its future would be rosy - but that would negate a lot of the benefits of crypto being 'outside' the system.

Crypto's always live on but the price and it importance and market cap is the uncertainty.

4) Gold will no doubt preserve your wealth as its value will no doubt remain. Great for the gold you already own. But with CBDCs would you be permitted to acquire further gold? Or will it be seen as a none essential and thus not part of your 'credit allowance'?

Depends on your geographical location. For example, for many years the Chinese government been advocating for it citizens to buy Gold. Move onto CBDCs why would this policy change?

[CANV]

CBDC’s will be a disaster for personal freedom. But not straight away.  The next generation or two will probably love it 

my age group, born in the 60’s love zero cash    I mean properly love it ..

gold will be great as will silver.  A serious off grid movement will develop.  Physical trading well over paper, er I mean digital.  
Bitcoin could well flourish in this environment. It’s the independent web based money ….

but this is all 10 years away.  Worry about this winters gas bills first ! 

[Bigmarc]

55 minutes ago, AlbertoMccall said:

We are probably talking about the tokenization of gold. E-Gold has become very popular and has been used by millions of people around the world. Privacy-conscious institutions have been impressed by its level of protection, using it to open anonymous accounts.

I do hope when regulations come in we are able to stay anonymous. I can't see it personally if there is a chance to move the industry forward. 

[Bigmarc]

Looking at the new EU laws regarding crypto, they seem to be on par-ish with gold with regards to regulation. From a security point of view we can increasingly see that gold is a lot safer to keep and use. One main difference I see is that between exchanges and wallets if the amount is higher than 1000 euros then this needs to be reported. 

https://www.cnbc.com/2023/04/20/eu-lawmakers-approve-worlds-first-comprehensive-crypto-regulation.html