A few days ago, I wrote a post about
FEDNOW, which is the FED's first attempt at introducing a Central Bank Digital Currency beginning this July. Greg Reese does a nice job of explaining that in the link at the bottom.
When Bitcoin was first introduced, there was a lot of speculation that it's creation was tied back into the intelligence agencies. To the best of my knowledge, Bitcoin's supposed creator, Satoshi Nakamoto, has never been publically seen or identified. Who are the largest holders of Bitcoin, the rich, or the creators of the cryptocurrency, who have held onto the supply of coins, and fueled the hyper increase in Bitcoin price appreciation.
The primary benefits of Bitcoin were touted as
"Freedom", "T***sparency", "Anonymity", and "Real Money" that was immune to the inflationary US Dollar.
Now, if you were an evil, G*******t, Master of the Universe, Behind the Curtain..... well you get the picture, and you wanted to get absolute, and ultimate control of the country's money supply (for absolute and total control over the country's population), what would you do?
If you came out in the open with your CBDC, you could rightfully expect quite a bit of pushback from the gold bugs, the libertarians of the world, and a whole bunch of others that would see the dangers, and motivation behind such an effort.
So, how do you craftily introduce such a product, and get those same groups that would oppose a CBDC, to become desensitized to the idea of a "Cryptocurrency"? Voila.....
BITCOINYou would get the same groups that would normally oppose a cryptocurrency, to actually embrace it, on the grounds that it represented freedom, anonymity, and a way to avoid the effects of inflation on the endless supply of dollars being created by the FED, and spent by the US Government.
But, and here comes the sneaky part. Once your creation achieved a large enough economy of scale and acceptance, you would need to find a way to t***sition from cryptocurrency (Bitcoin et al), into your CBDC.
And now comes the easy part. You get the various elements of government to begin it's purge of the various components of the crypto community that make it work.
You could, for example, find a way to close down the banks that cater to the bitcoin exchanges. Furthermore, you could get the SEC to begin it's crackdown on the largest crypto exchanges, just as you are about to introduce your CBDC.
But that's all conspiracy theory. Our government would never do that.
https://www.zerohedge.com/crypto/headline-few-saw-coming-barney-frank-was-right-about-signature-bankhttps://www.zerohedge.com/crypto/coinbase-tumbles-after-hours-wells-notice-disclosurehttps://www.onepoliticalplaza.com/t-273622-1.htmlhttps://www.cbsnews.com/news/bitcoin-cryptocurrency-wealth-one-percent/A few days ago, I wrote a post about b FEDNOW, wh... (