The Fed Is On Their ‘Cashless Society’ Rampage Again (And Commandeering The Cryptos Too)

The Fed wants to take every last shred of our privacy and force us into negative interest rates for good measure. Here’s an update on their War on Cash…

On Saturday, the St. Louis Fed fired off this Tweet:

As if that’s a good thing.

It’s not.

Here’s just their own abstract about it (bold and (red comments) added for emphasis):

We characterize various currencies according to their control structure, focusing on cryptocurrencies such as Bitcoin and government-issued fiat money. We then argue that there is a large unmet demand for a liquid asset that allows households and firms to save outside of the private financial sector (God forbid they say gold or silver, which is both liquid, and outside the system). Central banks could offer (as in commandeer/seize control of) such an asset by simply allowing households and firms to open accounts with them (I’m actually speechless with this). Finally, we conclude that a central bank will not issue cryptocurrencies in the sense of a truly decentralized (It’s not truly decentralized already – you still have to jump on the given crypto’s network for verification of transactions) and permissionless asset that allows users to remain anonymous (uh, it’s not annonymous as it is).

Jason Burack has put together a nice little video of what this could mean going forward:

Granted, it’s a trial balloon – it’s a proposal.

But worse of all, yet again, it’s the continued rape and plunder of Article 1 Section 8 and Article 1 Section 10 of the U.S. Constitution.

At one point, the people will become aware of what real money is, and what money is not.

Just like they are coming to understand that they’ve been lied to most of the time for most of their lives.

And when that happens, as always is the case, the people will turn, rightfully and Constitutionally so, to gold & silver.

Stack accordingly…

– Half Dollar


 

About the Author

U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.

Paul’s free book Gold & Silver 2.0: Tales from the Crypto can be found in the usual places like Amazon, Apple iBooks & Google Play, or online at PaulEberhart.com. Paul’s Twitter is @Paul_Eberhart.

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