Biden Bucks Is Not A Plan Anymore. It’s Here.

We’ve written a lot about central bank digital currencies (CBDCs) over the past few years. CBDCs are digital money, but they are not cryptocurrencies. The differences between CBDCs (or Biden Bucks as I like to call them) and crypto are important.

Cryptocurrencies are recorded on a blockchain, which is a particular type of ledger that shows every transaction ever made in each currency, Cryptos also claim to offer anonymity and decentralization, which are said to be virtues but are actually fatal flaws because the “anonymity” is great cover for crime and fraud.

I worked with the U.S. Strategic Operations Command to unravel crypto ownership when ISIS was using digital tokens to finance its Caliphate in 2015 – 2016. It’s not easy to pierce the veil, but it can be done.

By contrast, CBDCs do not use blockchain; they have a digital ledger accounting system but it’s not a blockchain. And they are the opposite of decentralized; they are highly centralized under the control of a single issuer, usually a central bank.

And there is no anonymity. The issuer knows every account holder and every transaction – that’s the whole idea.

CBDCs are promoted on the idea that transactions are faster, cheaper, and more secure when all money is digital and controlled by a government. Compared to credit cards, debit cards, wire transfers and Venmo and PayPal, that may be true. Those systems have multiple intermediaries and layers of fees, so CBDCs may actually be able to streamline payments and make the payment system more efficient.

But along with that benefit comes the loss of freedom. If the government knows exactly what you’re buying, to whom you’re making donations, and by extension what you’re reading based on which books you buy, etc. then we have come very far down the road toward thought control, censorship, selective law enforcement against political enemies, and a government that looks like the state ruled by Big Brother in George Orwell’s Nineteen Eighty-Four (1948).

One objection I’ve heard to these warnings about government control is, “Oh, that will never happen here.” Sorry, it’s happening now, as reported in this article.

The Federal Reserve, in cooperation with giant global banks, has launched a 12-week pilot project to test the message systems and payment processes on the new CBDC digital dollar.

A pilot project is not research and development. That’s already done. The pilot means Biden Bucks are here, and the backers just want to test the plumbing before they roll the system out on the entire population.

It means CBDC status is coming to the U.S. dollar faster than most expected, perhaps as early as mid-2023. Once the CBDC is rolled out, the government will order citizens to hand in their physical paper cash which will be burned in incinerators.

At that point, the pigs (all of us) will be in the slaughterhouse, ready for the digital slaughter of negative interest rates, account freezes, tax withholding and outright confiscation for those with the wrong political views.

The only way around this is to start acquiring gold and silver coins, if you don’t have them already. One ounce silver American Eagles and ¼ ounce (8 gram) American Gold Eagles are the best form of money for day-to-day transactions. Get ready; here comes Big Brother.

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