A Digital Currency Is on the Horizon by Bryan Lynch for The Organic Prepper
When I was younger, I never received a regular allowance like some of the kids I knew, but if I kept up with my chores and did well in school, my parents would give me a few bucks here and there. I could earn a little extra by doing odd jobs for neighbors, and there were always a few bills in birthday cards, Christmas cards, and that arrived of course, from the tooth fairy.
I remember how good it felt to not only earn money but to physically have it. It was empowering to be able to go to my “super secret” hiding spot (that my parents knew of but never said anything about) and see a small wad of ones or fives that probably added up to thirty dollars.
Fast forward a few decades, and checks, debit cards, and credit cards became available. To some people, these are technically a form of digital currency. A person isn’t physically transferring cash from one hand to another, and yes, they are convenient. But the option of having cash is still available at the moment.
With the rise of alternative digital currency (such as Bitcoin) even Facebook has been wanting to develop its own form of currency, and now, the federal government and Reserve seem to be inching closer to a mandated digital currency.
According to a CNBC report issued in May of 2021, the Federal Reserve has issued a report to investigate the moves needed for a central bank to issue digital currency. The chairman of the central bank, Jerome Powell, didn’t give any specifics to the plans or the implementation of a U.S. digital currency other than the Feds have been “carefully monitoring and adapting” to the progression of payments through technology.
Powell went on to say, “the effective functioning of our economy requires that people have faith and confidence not only in the dollar but also in the payment networks, banks, and other payment service providers that allow money to flow daily.” He also said, “Our focus is on ensuring a safe and efficient payment system that provides broad benefits to American households and businesses while also embracing innovation.”
What’s wrong with progress?
It would seem that a digital currency would be the next logical step in currency technology. After all, our technology is progressing faster and faster every day. Who wants to be standing under flying cars (that promise was never delivered) exchanging slips of paper for goods and services?
As stated earlier, a lot of people already use debit and credit cards – digital ways in which to move cash from one place to another – although many people may not see the difference or the problem of switching over to a mandated digital currency. After all, they can still carry cash, if they want to. And I think that this knowledge that you can carry cash keeps people from realizing that they’re rapidly losing their ability to.
As convenient as a digital currency may be, the problem, as a lot of preppers see it, is the complete loss of personal financial control and decision-making.
But can something like that happen?
Remarks from non-preppers or those who have the utmost confidence in the system tend to make remarks like,
“You mainly use debit cards anyway, so what’s the big deal?” or “They can’t just take your money or put restrictions on your account.”
However, just recently, the participants of the Freedom Convoy in Canada saw this very tactic used. A GoFundMe page was established for the convoy into which millions of dollars we donated. At the request of a Canadian judge, the funds were cut off from the convoy.