Sometimes the reality is bigger than the conspiracy. It’s NOT true that Bill Gates wants to microchip the COVID vaccine (why bother? We all carry tracking devices in our pockets anyway!)
However, Gates and many others are planning for the elimination of cash and the introduction of a digital dollar. It’s true that in the past, the USA took citizens’ gold, replaced it with paper and then revalued gold over 150% higher. This was to protect the government from going broke in 1933, and it worked (but citizens lost 70% of their savings).
There is potential for the government to issue a new digital currency, which can be limited, throttled, taxed, deflated or inflated, instantaneously.
Nancy Pelosi’s 23rd March 2020 “Take Responsibility for Workers and Families Act” included sections on a “digital dollar” and “digital wallets” issued by the Fed. Sweden already has its digital currency, the ‘e-krona’. China has created a digital yuan, which human rights proponents already oppose, as funds could be instantly frozen if someone is suspected of a crime or minor infraction. India is working on digital cash prototypes to rival China.
Visa International filed US patent “US 2020/0151682 A1” which calls for a cashless system, including “the removal of physical currency including the physical destruction of physical currency”. It’s true that Microsoft has a US patent “WO 2020/060606 A1” which proposes implanting a digital chip into the human body so that payments and verifications are easier than with cards, which can potentially be stolen.
Whilst Microsoft’s ‘digital dollar chip’ will not have GPS-tracking capability (it’s not powered like a phone), there is potential to track people’s general geographic location via their spending habits (much like Visa already does), or limit the spending of certain people.
There may be some merit in limiting certain types of shopping, so that convicted felons can buy food and clothing but not purchase guns, but where does it stop? Do we stop cancer survivors from buying cigarettes, or prevent obese people from buying junk food? If the government can literally control your spending, do they think they will always do it “for your own good” or perhaps will they sometimes limit you in ways that best advantage themselves?
China has already experimented with “self-destructing currency”, so that funds must be spent before they expire. This can be useful to give the economy a kick-start during recessionary periods, but what if you don’t like to be told where you can spend your money, and when? What if other countries decide to try the same experiments? Expiring currency could potentially increase expenditure and alleviate recessions even faster than adjusting interest rates, so it’s good for governments, but is it good for you?
Microsoft and Visa already have their patents in the USA. They are positioned to take advantage of the upcoming changes, and profit from them. What about you?
*** This is NOT financial advice 😉 Just speculatin’… ***
There is potential for banks to slash expenses, as there will be less need for printing, guarding, collecting, counting and transporting physical currency. ATM’s could disappear, just as phone booths did. It’s possible that banks could increase profits dramatically.
Investments into cashless solutions such as Visa, Microsoft, Paypal and *some* cryptocurrencies could increase in value exponentially.
We may see major corporations issue their own currencies, such as Amazon dollar, Apple bucks and so on.
In areas where digital currency is less popular, or where internet signal is unstable, some citizens could revert to using gold and silver as payment.
You can google the above patents and do your own research (DYOR) if you wish. Ignore the baseless conspiracy theories, follow the money and see how you could position yourself to take advantage of the proposed changes. (Tinfoil hat not required)
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