Post by twp on Feb 16, 2023 14:00:01 GMT -6
I assume that most/all of you are aware of the trend, by various government and non-government entities, to remove our physical currencies from circulation. By that I mean the paper and coin currencies which we are still able to use.
What I read on the 'net is the move toward CBDCs - Central Bank Digital Currencies. While they certainly are a type of money, I am concerned that the various Central Banks want to remove our ability to transact business using the aforementioned physical currencies.
Among other factors, I see potential problems with digital currencies:
1) They are dependent on having a working electronic network (world wide). This is "keeping all your eggs in one basket". Our current network (The World Wide Web) is, in my opinion, very vulnerable to both attack by outside players AND vulnerable to electric power system failure.
2) They (digital currencies) are NOT something which the public (you and me) controls and are far too easy to being shut down by government agencies. Think "Big Red Off Button" - BROB. Remember whose finger will have access to the BROB. It isn't you and I nor is it someone who we can/should trust.
Possible Prepper Solutions:
1) Even though our current (fiat) physical money is NOT backed by real money (think Gold and Silver), it may be acceptable in a black market world. Keeping a hidden stash of fiat money may allow commerce if/when the 'net goes down. Much depends on what may happen in the (near?) future and how many people will still consider their physical currencies (bills and coins) to have value for transaction settlement.
2) Real money, ie. Gold and Silver may (perhaps, maybe) be an acceptable currency in the future. DO NOTE that governments/banks may outlaw the use of physical Gold and Silver for transaction settlement. Plan on it, as a Proper Prepper Plan.
3) Barter is a third alternative for transaction settlement. Again, this may be outlawed by various government rules/laws. Technically, barter is already outlawed unless it is monitored, reported and taxed...
4) Consider the situation here in the United States, in which the Second Amendment is written into the US Constitution. It's up to you to think about exactly WHY that amendment was included. Read between the 'fargin lines, OK?
Please note my phrasing of the above ideas. While I encourage others on this forum to respond with their thoughts, I HIGHLY ADVISE that any response should avoid painting yourself with a target. Capiche?
We live in perilous times and we prep accordingly...
TWP
What I read on the 'net is the move toward CBDCs - Central Bank Digital Currencies. While they certainly are a type of money, I am concerned that the various Central Banks want to remove our ability to transact business using the aforementioned physical currencies.
Among other factors, I see potential problems with digital currencies:
1) They are dependent on having a working electronic network (world wide). This is "keeping all your eggs in one basket". Our current network (The World Wide Web) is, in my opinion, very vulnerable to both attack by outside players AND vulnerable to electric power system failure.
2) They (digital currencies) are NOT something which the public (you and me) controls and are far too easy to being shut down by government agencies. Think "Big Red Off Button" - BROB. Remember whose finger will have access to the BROB. It isn't you and I nor is it someone who we can/should trust.
Possible Prepper Solutions:
1) Even though our current (fiat) physical money is NOT backed by real money (think Gold and Silver), it may be acceptable in a black market world. Keeping a hidden stash of fiat money may allow commerce if/when the 'net goes down. Much depends on what may happen in the (near?) future and how many people will still consider their physical currencies (bills and coins) to have value for transaction settlement.
2) Real money, ie. Gold and Silver may (perhaps, maybe) be an acceptable currency in the future. DO NOTE that governments/banks may outlaw the use of physical Gold and Silver for transaction settlement. Plan on it, as a Proper Prepper Plan.
3) Barter is a third alternative for transaction settlement. Again, this may be outlawed by various government rules/laws. Technically, barter is already outlawed unless it is monitored, reported and taxed...
4) Consider the situation here in the United States, in which the Second Amendment is written into the US Constitution. It's up to you to think about exactly WHY that amendment was included. Read between the 'fargin lines, OK?
Please note my phrasing of the above ideas. While I encourage others on this forum to respond with their thoughts, I HIGHLY ADVISE that any response should avoid painting yourself with a target. Capiche?
We live in perilous times and we prep accordingly...
TWP