Tuesday, October 4, 2022

The Dangers Of Digital Currency

The Dangers Of Digital Currency
PATRICE LEWIS 



Of the many horrors introduced by the Biden administration - open borders inviting millions of unvetted illegal immigrants, including human traffickers, criminals, and terrorists; untold quantities of fentanyl and other dangerous drugs flooding the nation; shutting down pipelines and otherwise making our nation energy-vulnerable; inflation due to rampant money printing - one of the most horrifying is coming down the pipeline. I refer to digital currency.

In Biden's vision, digital currency will "advance democracies to lift people up, not to hold them down." Naturally, digital currency is being offered as a "solution" to problems we never realized we had. It's touted as far more efficient, easy, environmentally beneficial and even more sanitary than paper currency. With digital currency, gone are the troublesome days when cash must be printed or minted. Now the government can flood the system with untold trillions of digital dollars at the push of a button. Now that's efficiency!

But despite whatever pretty words they use, there is no question digital currency is a horror show waiting to happen.


There are many risks. Digital currency would be vulnerable to hacking, technological glitches and power outages. Any hiccup in the system would mean your funds are not available "at this time." When regional disasters happen (such as Hurricane Ian) with widespread power outages, no one in the affected areas would be able to exchange currency, adding additional distress on top of existing misery.

Bitcoin expert Anthony Pompliano calls digital currency "one of the greatest violations of human rights in history." He writes, "Once a central bank digital currency is in the hands of a population, the central bank has solidified complete control. They will no longer have to go to the court system or invoke emergency powers to tell you who you can transact with. This can all be implemented through remote, digital technologies. 

These central bankers will be able to see what is in your bank account, who you transact with, what you purchase, and anything else they are curious about in your financial life. That full transparency with the state removes all elements of privacy, while also giving the institutions the ability to censor any and all transactions, regardless of whether they have a legitimate reason or not."






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