The Cashless Society is Now on The Horizon: U.S. Moving Forward With Fedcoin. China Cashless By 2022 Olympics.
Over the last 12 months, more than 70 countries have started experimenting with digital currencies.
Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell hinted (February 22nd, virtual conference hosted by the New York Times) that a digital dollar is a high-priority project for the U.S.
China who has been trying to dethrone the U.S. dollar began developing its digital currency back in 2014, and in April of last year, the People's Bank of China confirmed that electronic payments are being tested in 4 Chinese regions.
China has expanded testing to Beijing and Shanghai.
Reuters reported that China would implement its digital currency system before the 2022 Beijing Winter Olympics.
And get this, Since testing begun:
China's digital currency has been used in 3.13 Million transactions worth 1.1 billion Yuan so far
113,300 personal digital wallets and 8,800 corporate digital wallets created by their central bank
And every transaction is monitored ZERO Privacy.
But that is just the beginning. Crude Oil is purchased using petrodollars. (U.S Dollars)
These 8 countries have dropped using the U.S Dollar for the new Chinese petro cryptocurrency:
Russia
Saudi Arabia
Angola
Iraq
Iran
Brazil
Venezuela
and the United Arab Emirates
The Yuan is now the first major global currency to become digitized and it's backed by gold.
China Will Soon Be Cashless
The United States has no choice but to follow China.
Congressional banking subcommittees in both the house and the senate met earlier this year again to discuss America's new digital currency, the Fedcoin.
The Federal Reserve announced August 14th that the central bank is partnering with the Massachusetts Institute of Technology researchers to build and test a digital currency.
When America launches it's Digital Currency, it's going to be a disaster for your privacy and your wealth.
Jump on this now. Get this Complimentary Protection Guide. It contains insider information on protecting your retirement savings.
FedCoin, Like The Digital Yuan, Will Give The Government A Godlike Ability To Track EVERY SINGLE Transaction.
They will know every one of your purchases and how you choose to spend your money.
Physical cash gives you anonymity when you transact with dollar bills. Only you and the other party know about it.
With the Fedcoin, all transactions will be recorded in a centralized government database.
Everything you do will leave a permanent record for the feds to monitor and track.
Fedcoin can be programmed so that certain transactions can't take place. For example, If you're overweight, you can't buy sweets. If you have a felony conviction, you can't purchase a gun or ammunition.
Fedcoin will be programmed to prevent individuals access to anything the government deems inappropriate for them.
If you don't obey the government, your federal reserve digital account can be depleted by the click of a mouse until you conform to government whim.
fedcoin is being embraced by progressives to make all Americans have just one universal basic income.
China's gold-backed petroyuan may be good news or bad news. If your savings are heavily in dollars and paper assets like the stock market, consider this a huge warning. On the flip side, there is one asset that stands to gain abundantly: physical gold.
If you don't own gold, now is the time. There is an IRS loophole that lets you invest your retirement savings in gold tax and penalty-free.
The more gold that China acquires for its currency base, the more gold prices go up.
