The advantages of cash far outweigh any advantages of a cyber currency. It's for all these reasons that Americans should reject Fedcoin

Fedcoin: pie in the sky

By —— Bio and Archives--July 13, 2018

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Fedcoin: pie in the sky
During the Obama administration, Marxists came up with the idea of creating Fedcoin to replace physical money altogether. The idea was to create a new cyber currency like Bitcoin but controlled by the Fed. In 2016, there was an article in Moneywise titled, U.S. Government Awards $7 Billion to Develop New Fedcoin, and it stated: “At this year’s ‘World Economic Forum’ in Davos, Switzerland, Nobel Prize-winning economist Joseph Stiglitz declared that the U.S. “could and should move to a digital currency and get rid of (paper) currency.”* Ironically, no honest reason has ever been given to justify the move to cyber currency.

Moreover, the article went on to say, “Last year, former U.S. Treasury Secretary Larry Summers declared it was “time to kill the $100 bill”… arguing that, by making large bills illegal, it would reduce crime. So far the Fed’s heavily funded research is paying off… The FBI already knows how to seize digital currencies. The Marshal’s Service know how to sell it. The IRS know how to tax it. And now, the Federal Reserve could copy it to rid the U.S. of cash.”


Although Fedcoin didn’t gain traction with the public back then, it reared it’s ugly head again this year. Several recent articles have made it clear that the Fed plans on waging a war against cash and other crypto currencies like Bitcoin. Marxists never give up on their schemes to control and dominate the world. They just keep repackaging their tyranny like they did Hillarycare, which they finally pushed through, against the will of the majority of people, as the Affordable Care Act or Obamacare.

However, Obamacare didn’t make healthcare more affordable as promised in the sales pitch. In fact, it did just the opposite. It stripped people of more of their wealth, gave government bureaucrats more power over peoples’ lives and made windfall profits for insurance racketeers that fund Liberal causes and Socialist political campaigns. They tout the supposed benefits of their programs and hide the actual intent with rope a dope justifications.

This time Liberals are saying that modern technology has made cash obsolete, and they compare cash to salt or sea shells that ancient civilizations used as currency. In 1998, Liberals predicted that America would be a cashless society by the year 2018. They based that on the growing number of people using debit cards at that time. It reminds me of the Liberal pseudo-scientist’s prediction that the north pole would be ice free, sea levels would rise by 3 feet and parts of Miami would be under water by 2010, if we didn’t pay UN carbon taxes.

As usual, they were wrong, but they are still trying to sell the cashless society by touting the benefits of going cashless while ignoring the drawbacks and concealing the real intent. They claim that digital currency is more convenient, and you won’t end up with a bunch of heavy coins in your pocket at the end of the day. They offer a rope a dope justification for any mindset. Oh dread, those heavy old coins in my pocket. They are so heavy and cumbersome, and it’s so hard to count change. It’s almost unbearable. It’s antiquated! It’s out dated!

Really, most of them are that far out of touch with reality, and they don’t understand why the rest of us refuse to jump on the Loony Tunes express with them. If Liberals find themselves overburdened with heavy coins, I would be glad to relieve them of their burden by putting those heavy antiquated coins in my pocket. Always glad to relieve a whining Liberal of their burdensome coins! If it’s a burden, I never noticed it.

With that said, another rope a dope justification that Liberals tout is that Fedcoin will allow government agencies to track and catch tax evaders and drug traffickers, and that will make America richer and safer. They fail to mention that government agencies are not known for tracking down drug traffickers or tax dodgers that support the Liberal Marxist cause. However, they are known for using government agencies to target people they consider political enemies, like President Trump, Constitutionalists, Christians and Tea Party members.

They know that digital currency leaves a trail that can be used to target individuals and groups for any number of reasons. It can be used by corporations to target individuals based on their buying habits. It can even be used to track our daily transactions, and when combined with GPS tracking from cell phones and car transponders, our daily activities can be tracked down to the second. Everything these psychopaths propose is about total control over the population and stripping Americans of their wealth. Fedcoin is just another means Marxists can use to exert absolute control over the population.

In addition, Fedcoin pushers also say a digital currency will allow government agencies to collect taxes on transactions that they are currently unable to collect. They argue that the government does not receive its due share in taxes when someone purchases an item from an individual using cash. Fedcoin will allow them to track and tax individual transactions. They want more of the people’s money for the Marxist cause and absolute control over everyone, and digital currency will provide them with a means to confiscate an individual’s funds, monitor individual transactions, collect excessive taxes and surveil monetary activities of individual citizens. They don’t mention any of that.

On the other hand, cash offers the user anonymity, and our anonymity, freedom from surveillance, is a primary target of Fedcoin. Cash can’t be tracked nor can the purchases of the user. In addition, cash is reliable and still functions even during power outages, and it’s impervious to network outages, cyber attacks and computer crashes. Cyber currencies are vulnerable to all these things, and cyber currency has no inherent value. It isn’t backed by gold or silver, and it doesn’t physically exist. Cyber currency is nothing more than “pie in the sky” that can disappear in an instant.

Finally, we have all heard the saying that a bird in the hand is worth two in the bush. By the same token, a dollar in the hand, although it won’t buy much these days, is a dollar we can count on, unlike a cyber currency that we can’t see or hold in our hand. Cash is not just an entry in a computer database that resides on the Fed’s computer. Cash can’t be seized or erased without our knowledge or consent. Once cash is in our hands, no one can erase it, delete it or make it disappear without our knowledge. The advantages of cash far outweigh any advantages of a cyber currency. It’s for all these reasons that Americans should reject Fedcoin.


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Charles Wills -- Bio and Archives | Comments

<em>Charles Wills is a retired Engineer.
Since retirement, he has devoted much of his free time to reading and researching
world and biblical history. He enjoys reading and collecting old books, especially
textbooks published before the turn of the 20th century, as well as writing about the
wealth of information hidden in them.<em>

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