The Great Roundup

“A digital currency developed by the fed is a ‘high priority project for us,’ Powell told Congress….

As the world’s reserve currency, Powell stressed that the US doesn’t have to be first in issuing a digital dollar, but it needs ‘to get it right.’

‘This is something we’re investing time and labor in, across the Federal Reserve system,’ Powell said.”

Chuck Butler recently cautioned us:

“I truly believe that a digital currency will replace folding currency in the near future. I wrote about this recently in my in my Daily Pfennig newsletter:

…. The U.S. hasn’t announced any such plans, yet.

…. I first told you months ago about how the U.S. would introduce a digital currency, and you would wake up one Monday morning, turn on your computer, log in to your bank account, and find that it no longer reflected dollars held, replaced by digits. This isn’t going to happen overnight, …or maybe even next year. It…depends on when the U.S. has to default on any of their debt, and the dollar begins to fall like a rock.

I feel this whole stay-at-home thing and buy everything with your credit card, is part of the plan. If the Government gets everyone to stop spending folding currency, they are halfway there to their implementation of a digital currency.

I also believe eventually the government will outlaw folding currency, and other forms of digital currency; they won’t stand for any competition.”

James Rickards believes this is a worldwide effort and clearly explains it:

“It’s an important move in the direction of eliminating cash and forcing users into a 100% digital system using credit cards, debit cards, and smartphone apps….

Use It or Lose It

I’ve said all along that you cannot put negative interest rates on consumers until you eliminate cash. Otherwise, savers would just withdraw cash from the banks and stuff it in mattresses to avoid the negative rates. Implicitly, the European Central Bank (ECB) seems to agree.

One of the ECB Board members says that negative rates (really confiscation) will be applied as a “penalty” against ‘hoarding’ cash. In plain English, that means they will create digital money, force you to spend it, and if you don’t spend it, they will take it away as a ‘negative rate.’

Now all of the pieces of the global elite plan are converging.

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