Central bank digital currency (CBDC)

Bill Madden wrote:

Please read what Gary has to say about central bank digital currency (CBDC) as total control of our currency by our rogue government will destroy our financial freedom.  Our dollar and all currencies in the world are fiat – and, they shouldn’t be. 

By reading Aristotle’s Definition of Money, you will learn that money must be a “store of value” and no currency in the world is a store of value.  As J.P. Morgan said: “Only gold is money.  Everything else is credit”.  If a currency is fiat paper or a fiat accounting entry backed by gold, anyone holding the fiat currency must be able to convert the fiat currency to gold at some official rate at any time.  Backing a currency with oil or some B.S. basket of other fiat currencies is government hocus pocus.

Voltaire said that fiat currency always returns to its true value of zero. 

Since there was major opposition to the CBDC, the government will attempt to force their control on us with the stable coin.  Interestingly, they intend to back up the fiat stable coin with fiat dollars.  Please remember what Voltaire said.

The Constitution directs the Congress to coin money with no mention of interest and, yet, we have been finessed into a central bank, the Federal Reserve Bank, creating our dollars from thin air and issuing the dollars into circulation with interest currently about one trillion dollars a year.  Adding insult to injury, we are paying interest on fake money.