You know you can’t trust anything with “Biden” in the name. From James Rickards at dailyreckoning.com:
I’ve written a lot about central bank digital currencies (CBDCs) including the U.S. dollar version that I call “Biden Bucks.” The threat from CBDCs is enormous.
They are digital (but not true cryptocurrencies), which means they are programmable. The Treasury and Fed can use the CBDC ledger to track your purchases, look at your political contributions, look at your religious affiliations and basically profile you as an enemy of the state or “ultra MAGA.”
Your “Biden Bucks” could be made to stop working at the gas pump once you’ve purchased a certain amount of gasoline in a week. How’s that for control?
And in a world of “Biden Bucks,” the government will even know your physical whereabouts at the point of purchase.
But it gets even worse…
CBCD + AI = Nightmare
This profiling can be combined with artificial intelligence (AI) and generative pretrained transformer platforms (GPT) to practically read your mind.
From there, the government can freeze your bank accounts, impose taxes and penalties and put you on a “use it or lose it” fiscal policy stimulus plan that forces you to spend your money within 30 days or have it partially confiscated.
If any of this sounds extreme, fantastical or otherwise far-fetched, it’s not. It’s already happening around the world.
China is already using its CBDC to deny travel and educational opportunities to political dissidents. Canada seized the bank accounts and crypto accounts of nonviolent trucker protesters last winter.
Biden Bucks will fund the Indian Ocean high speed choo choo rail.
Honk, honk!