Cbdc arrival

[Dankanugget]

Hi it’s just a question someone may be able to answer. When Cbdc arrive and it’s announced limits ie account max of 5 or 10k and they won’t be rolled over if not used after a certain time period.

will your excess money in your account above these limits become worthless?
regards

d

[HonestMoneyGoldSilver]

 If you ask the CCP where this system is already in place or due to be implemented, they would say yes, if your money expires it's gone, worthless. They wish to control consumption patterns by having expiry dates on funds but also providing offers at other times to save funds - heavy incentives to spend or save to boost the economy or reduce inflation. 

[Bigmarc]

Buy a membership and go to the members section, you will be an expert by the end of the day.

Edited May 23, 2023 by Bigmarc

[monkey]

If the coming CBDC's do have an expiry date put on them as predicted, then wouldn't that just make people with half a mind just put the purchasing power into precious metals or some other commodity that holds value? which then would push up the price of such items due to higher demand. But then there will be the controls on what you can spend your CBDC's on, probably preventing you from buying precious metals or restricting how much you can buy.

Only time will tell perhaps....

[Dankanugget]

Yes I agree, a made rush to make your money be put to good use as quickly as possible before it’s demise in your account. I wonder how wages will paid if you’ve earnt over the allowed limit per month?

[monkey]

That's something I've not considered. I suppose they will have to closely control exactly what you can spend the curency on in that scenario. Otherwise it would drive inflation in anything of any market attention. You'll probably only be able to buy useless tat that no one wants. Or the cost of living with be exactly what your bring in as a wage so there is nothing left over to stash away.

The creative will find away, if there is one.

[Dankanugget]

1 minute ago, monkey said:

That's something I've not considered. I suppose they will have to closely control exactly what you can spend the curency on in that scenario. Otherwise it would drive inflation in anything of any market attention. You'll probably only be able to buy useless tat that no one wants. Or the cost of living with be exactly what your bring in as a wage so there is nothing left over to stash away.

The creative will find away, if there is one.

Buy a v8 petrol Range Rover and drive through every ulez borough daily to get rid of excess money that I can’t carry over or use for my beef that week.

[Dankanugget]

Thanks for sharing your thoughts

d

[monkey]

It could run like mot gov departments world wide. Here is your annual allowance. If you fail to use it all your following year's allowance will be reduced. Again seems rather inflationary. But he who burn through their own purchasing power are rewarded with more.....

[Dankanugget]

My first phone contract used to roll over my minutes, but not anymore…..

looks like a bug funnelling process is taking place from a place of great width to a narrow place where only a few can fit.

smells like the buy and sell system is coming closer daily.

[monkey]

I think the best way of attempting to survive whats coming is to be as informed as possible and keep an open creative mind to get away from the center of the storm.

[Bigmarc]

10 hours ago, monkey said:

I think the best way of attempting to survive whats coming is to be as informed as possible and keep an open creative mind to get away from the center of the storm.

https://www.atlanticcouncil.org/cbdctracker/

I think the expirery date thing is a bit of a myth. China are still trialing it with still relatively low adoption, the expirery was related to the Chinese version of the benefit system. "Here is your benefits for the month". Not sure if they are actually going to use it or not. 

The problem is with trying to stay informed is the amount of info out there. From authority to YouTubers to twitter, who do you believe? 

 

[monkey]

Very true, only time will tell how it will be used.

The very fact it has the features built in is not good. They probably will be switched on and off depending on who is in charge and whether carrot and/or stick approach is favored.

[Bigmarc]

31 minutes ago, monkey said:

Very true, only time will tell how it will be used.

The very fact it has the features built in is not good. They probably will be switched on and off depending on who is in charge and whether carrot and/or stick approach is favored.

And those built-in features can be changed at any point. Unfortunately if we need to move forward with the rest of the world I see no possible alternative apart from gold. 

[monkey]

My gut tells me to use a mix of commodities. Gold and silver will only be useful if there is still a healthy trade. If trade goes then I think there will be far greater things to worry about, but at this point I feel that quite unlikely.

China as you say is still running okayish, until your seen as a socially negative individual (then there are ways to build your social score back up). I think the commoner can still buy precious metals over there.

[Dankanugget]

I’m on the understanding that any other form of transaction apart from the approved Cbdc will be outlawed in time .

all will be required to buy and sell using the same system. People who accept other forms of payment will In turn be ostracised or punished. Yes gold and silver is the only hidden option to use for a time between a few people.

I guess all you can do is prepare with the options available but I don’t see a new better horizon when the dust settles.

[monkey]

The only way the system would have total control is if enough of the population accept it. It would only work if say 80% or more go along with it. Otherwise it would be rather hard to enforce. There will always be alternative markets to what the state declares as legal.

There are a fair few examples of smaller communities creating a local currency to keep purchasing power local.

[Dankanugget]

Many people Followed  the tv and pressure to do things they would never do . Look at the last three years and how friends where put against each other based on choices made. Even to the point of disowning them.

I can see options to tempt others to participate ie free Cbdc or cheap rates for borrowing or even first dibs on fresh food.

[monkey]

This is true, though in my community there are a fair few that are now questioning the last few years. I was honest with the people around me at the time and it seemed to sow a few seeds of "should we be doing this?". There are a few who think it was all justified, but a good percentage who have ether swapped sides or are now sat on the fence.

I believe as time goes by, there will be more thinking it was all deception, especially was some of the main stream news are running stories on how the jabs haven't actually done anything according to the latest statistics. Truth always comes out, its whether people are paying attention when it dose.

I'm fairly optimistic things will come out better then most people say. Though its going to be rather interesting journey.

[GoldenGriffin]

34 minutes ago, Dankanugget said:

Yes gold and silver is the only hidden option to use for a time between a few people.

I can imagine a future portal to disclose ownership / transfer of ownership.

I doubt that real money will be left unregulated and the amount in weight and type could be limited.

I hope not, but sadly, that's what I see when I look ahead.

[monkey]

28 minutes ago, GoldenGriffin said:

I can imagine a future portal to disclose ownership / transfer of ownership.

I doubt that real money will be left unregulated and the amount in weight and type could be limited.

I hope not, but sadly, that's what I see when I look ahead.

This has happened before in history, but the window of tight control of real money has always closed. Most hid what they had until it was legal again.

Also there will be a number of high ups who have a large allocation of PM's and they wont want that taken away. There will most likely be a loop hole somewhere. I think bullion classification will most likely be controlled.

[monkey]

58 minutes ago, Dankanugget said:

Many people Followed  the tv and pressure to do things they would never do . Look at the last three years and how friends where put against each other based on choices made. Even to the point of disowning them.

I can see options to tempt others to participate ie free Cbdc or cheap rates for borrowing or even first dibs on fresh food.

In regards to priorities for fresh food, I would say Dig for Victory!

[monkey]

This chap usually gives a very broad overview of what he sees. This lengthy video might be of interest.

https://odysee.com/@TheMarketSniper:f/Revealing-the-Bifurcation-of-Humanity.-Bubbles-from-Volker-to-AI.-A-Shocking-History-of-Money--Power:8?r=43BVfA6NzGmvwwAqLvNcbA5GrUv3J2bB

[Dankanugget]

1 hour ago, monkey said:

This chap usually gives a very broad overview of what he sees. This lengthy video might be of interest.

https://odysee.com/@TheMarketSniper:f/Revealing-the-Bifurcation-of-Humanity.-Bubbles-from-Volker-to-AI.-A-Shocking-History-of-Money--Power:8?r=43BVfA6NzGmvwwAqLvNcbA5GrUv3J2bB

Thanks

[monkey]

6 minutes ago, Dankanugget said:

Thanks

Its wrapped in a trading contexts but his world view dictates where he puts his trades and investments.