Americans face a rapidly encroaching ’emergency’ CBDC power grab, by Jordan Schachtel

SLL has published many articles on Central Bank Digital Currencies and will continue to do so. It’s important to realize if they can get away with this, they’ve got us all by our gonads. From Jordan Schachtel at dossier.substack.com:

The ruling class may pursue a Hail Mary pass to restore their control over the system.

The American financial system is threatening to come apart at the seams, and for the people who control the levers of power, the only way to patch things up may involve the installation of a monetary Social Credit Score system. In recent years, America’s fiat fractional reserve system has transformed into a faith-based credit system, and the people who use the dollar are losing confidence in a system that relies entirely upon their complete and total trust. Should our collective faith in the system continue to decline, the American ruling class will decide that their path forward involves regrasping full control of their confidence scheme through the implementation of a Central Bank Digital Currency (CBDC).

A U.S. CBDC would do much more than simply implement a fully digital version of the U.S. dollar. This system could provide authorities with an almost unlimited digital toolkit to both surveil and censor citizens. A CBDC is advertised as making the system more “efficient” and helping to deliver monetary power to the unbanked. However, it would also give shadowy bureaucrats the power to swipe a “criminal’s” life savings, instantly distribute funds to allies of the system, among an almost infinite series of additional authoritarian instruments.

Over previous decades, when the United States stood tall as the world’s lone financial hegemon, there was never much of a reason to implement a dollar-based CBDC. After all, our political and financial elites had no reason to do so. There were no competing peers and zero superior monetary systems in sight (prior to the discovery of Bitcoin). These forces had full control over a system that empowered them with incredible prestige and power, and there was no reason to antagonize the billions of people who were somewhat contently operating within the confines of the system.

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