Tuesday, October 6, 2020

👉Fed to Introduce Digital Dollar to Prevent Bank Runs and have Total Control Over Money

👉Fed to Introduce Digital Dollar to Prevent Bank Runs and have Total Control Over Money The Fed to Introduce Digital Dollar to Prevent Bank Runs and have Total Control Over Money Empty storefronts all across the country. Significant rise in homelessness. Repossession of cars,and consumer goods. A tsunami of personal bankruptcies. Mortgage defaults; and credit card defaults. Big box stores empty. Ballooning debts and deficits.Tens of millions in permanent job losses.Near-zero interest rates. Endless repo transactions. $1 trillion deficits year after year. Record corporate and household debt. GDP down 31.4 percent during the second quarter of 2020; a drop without parallel in all of US history. New York and California are rapidly turning into larger versions of Detroit. We are on the cusp of civil war. The jobless figures are going parabolic. More than 60 million Americans have filed new claims for unemployment benefits so far in 2020. We can expect more layoffs, reduced domestic consumption, slower growth. The Fed will probably cap its QE Forever stance at 9 to 11 Trillion. The next fiscal GIFT giving will probably come in at $2T. The trade deficit continuously increasing. U.S. Trade Deficit Widened in August to Largest Since 2006. This is the largest trade deficit in 14 years, and the 2nd worst in history. But the deficit in goods surged to $83.9 billion, the largest ever. We were promised to make America great again by winning trade. Instead we are losing the most in history! The biggest financial crash of our lifetimes is coming, and this time there is no recovery because we lost the petrodollar! That privilege is about to be withdrawn. A crash in the dollar is likely, and it could fall by as much as 35 percent by the end of 2021, experts warn. Will the survivors of this Ponzi scheme trust another fiat currency backed by nothing but useless government promises? Given the size and growth of U.S. government debt, a government guarantee may be worth nothing, especially in world markets. All of this will be used to introduce digital money to replace the US Dollar. A horrible idea that any fascist government would love. A complete government control over money. Create the problem, Wait for reaction, Provide the solution. Can you count all the wonderful things that have happened when the government gets more power? The systemic imbalances we have now are a DIRECT result of what the Central Banks did to fix the problems they created in the last boom/bust cycle. Digital money will stop the ability of people to initiate bank runs. That and control, and watching every single purchase people will make. The IRS would constantly seize your digital account in nanoseconds whenever they think you owe them a cent. Or, they can just inject a computer chip in our brains, and we can walk around in circles waiting for our next command. Every successful task completed, will deposit imaginary money into our brain, which, when then be secretly deleted. Rinse and repeat. I think I would rather go back to shells. Here's the thing. I am all for making banking and transaction more efficient. What worries me is the whole negative interest rate part. The moment that happens, I'd take my cash out of the bank and part it in a secure offsite location. IF there is no cash available except for e-dollars, then that option is gone. And that is what bankers are really worried about. They worry that People will take out all cash and secure it in a safe in a place unknown to the bankers. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to click the like button. And as You know friends, I rely on your donations to keep this channel functional; as you know, it takes a crazy amount of research and time to bring you this content on a daily basis, so I hope you consider helping with whatever donation you can afford. Thank You. Cashlessness is wicked. Totalitarianism. Abolishing cash is a top priority for globalists. Why? Because cash enables freedom, self-determination, and privacy. These are concepts that must be eliminated for a One World totalitarian state to come to fruition. Never relinquish your precious metals people, no matter how illegal they may become. This eCurrency simply seems like taking away the ability of someone to avoid a negative interest rate by holding cash under his mattress. Twenty-two percent of American households are unbanked and use the physical currency. It is unclear how those households could ever use digital currency. An e-currency would allow them to have a free bank account with the Fed. I would rather not have the government be able to track every transaction in the economy. Digital currency will lock in Government insight into everything you do or buy. And it will be linked to your social credit score, so they can fine you for saying: END THE FED! An unlimited supply of money, created by the fewest number of people, because of digital currency. No paper trail and no audit. What could go wrong? And who has access to this digit creation? A few elites. In a cashless society, your account can be frozen or, worse yet, drained by a government that is unhappy with your political leanings. And you have no recourse. Big Brother would love a cashless society. Digital currency is also a hacker's dream. People's growing trust in all things digital seems to fly in the face of logic since so many digital things have been compromised. Credit cards, credit companies, Facebook, iPhones, and the list goes on. Just imagine the value of an American E-dollar after a single hack into the system anywhere. Digital currency would make the USA even more vulnerable to electronic disaster. A solar storm, EMP, hackers, grid fail, etc... Maybe that is the involved governments' plans. A little convenient outage, and they can write off all the savings of people and say start over equal. Four places I used my digital currency card were hacked in the last couple of years. Luckily I wasn't off on a European vacation. I was forced to get new risk free digital currency cards each time. Until the last, when my risk-free digital currency card ended up shredded in a dumpster. This is nothing more than a way for a government to know, control, and tax everything you do, and it gives them the hackers' ability to cut you off at any time. In times of crisis and a bad economy, we will see negative interest rates for all of our e-dollars. And then, when the economy recovers, the negative rates will persist or be replaced with fees for simply holding your own money. Another shameless money grab by the government and big financial institutions, you know, the ones that make all the rules. Power and autonomy belong in the hands of the citizens, and the ability to hold currency is vital to that. The fed coin will be created as an instrument when hyperinflation hits; all instruments explode in price. It happened in Weimar Germany and Venezuela with their stock market as their currency was hit with 500 percent inflation. The stock market will rocket when hyperinflation happens, and the fed coin is just a way to keep the unwashed masses happy and distracted as they usher in their new system. Its a paradigm shift, frequency change. The US abused its privilege with the dollar. The world is heading toward a multi-polar world..no more global hegemons or global currency. It's a damn shame that the United States abused its privilege and will have sacrificed its reserve currency status, only to save the wealth of the already obscenely wealthy. It would have been different had it been to rebuild infrastructure, pay off private debt, education programs, institute nationalized healthcare, hell, even colonize Mars. But instead, the privilege was thrown away on nothing more than a garden variety corrupt looting of the country by the wealthy and politically connected. That's usually how it goes. The US is rich, but most money in Wall Street has nothing to do with Americans.Half of the US population is struggling to make ends meet. With 1 million jobless claims piling up on a weekly basis and everything else that the middle school kids can figure out, most people STILL don’t even realize we have already entered a depression. The question is, will it be more severe than the Great Depression of 1929. Sad and disturbing that people can be so dumbed down. The last thing we need is government, as corrupt and partisan as it is, to totally control our medium of exchange. This is akin to having all our wealth managed, controlled by a single entity. Already, we see Trump trying to manipulate Powell, to infringe on its non-political status, to juice our economy, to hype his vision on how to leverage us further. I can see a dual system that evolves, still enabling currency as legal tender as well as metals, so we do NOT repeat the government demanding the surrender of privately held gold in the past and all currency in the future. Just look at what has happened to our DEBT since 1981. Debt is growing 3 times faster than our GDP. We have grown debt $27T yet have NOTHING to show for it. No resolution of entitlements, healthcare, education, infrastructure, poverty, drugs, immigration, and YET we'd consider empowering politicians to control ALL our wealth? Government, nor politicians can be trusted today. Look at problems with our Justice Dept, FBI, IRS that seemingly have been manipulated by political operatives. The US has one of the lowest savings rates and runs a consumption economy. The only thing supporting the US dollar is it's Military and government over-throw agencies (i.e., CIA, US State Dept, etc.) and that the Dollar is the world's reserve currency. My guess is the US is losing its grip and is going to be focusing on withdrawing its overseas empire this decade. There is no way out! TOTAL war or 3rd world status...because there are just so many US treasuries held by foreign 3rd world countries;they will demand oil for dollars, but IRAN will say I need a lot more dollars or I won't accept dollars! There is no better way to describe the international monetary system today than through the statement made in 1971 by U.S. Treasury Secretary John Connally. He said to his counterparts during a Rome G-10 meeting in November 1971, shortly after the Nixon administration ended the dollar’s convertibility into gold and shifted the international monetary system into a global floating exchange rate regime that:"The dollar is our currency, but is your problem.” This remains the U.S. policy towards the international community even today. What an insane world we live in. Central banks and worthless fiat money are the problems, NOT the solution. We never had problems like this when the dollar was backed by gold. The full faith and credit of the US government are worth less than zero. What we need is a return to a gold or silver standard, ban all notes of credit, give the dollar a real definition, and abolish the Federal Reserve. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels; I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have donated. Stay safe and healthy friends! Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.

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