Digital Currency: Freedom Or A New Way To Control You And Your Money

Who doesn’t want freedom? Most people want it, but what price are they willing to pay? During COVID-19, we saw that most gave up their freedom to comply with the tyrannical dictates of governments and health departments. Many now see cryptocurrency as a way to assert independence from the banking system.

Many people believe that they can secure their future with Bitcoin, especially when they hear that by 2030, the digital coin will hit $3.8 million, a 38-fold increase. Whether true or not, there is a lot of hype surrounding cryptocurrency.

People can buy and sell crypto through an exchange, like operating a bank account. These exchanges are regulated by government agencies, and they issue reportable financial statements for taxation purposes.

You can also get a private wallet, where you and only you have control over your funds with your own unique key. If you lose your key, you can’t access your money.

Bitcoin and other cryptocurrencies are not immune to scams, whether it’s through phishing emails, fake wallets, or bogus online relationships.

$1 billion has been lost in cryptocurrency scams since 2021, FTC warns

Some people are being enticed into online relationships only to find that behind it all is the age-old technique of extracting money from an unsuspecting individual in a more modern way.

So, does cryptocurrency give you freedom away from the financial system? The answer is not really. You are still subject to financial and economic regulation. Cryptocurrencies are recorded on public blockchain ledgers; even transactions going in and out of private wallets are traceable. You can’t escape the tax man. Also, banks can flag dubious transactions and send you an alert. There is no such protection with a private wallet.

Remember, there is no such thing as a foolproof, sure thing. We saw what happened with Sam Bankman-Fried , who duped people, even some very sophisticated investors, out of billions of dollars. So tread warily, and as with all investments, do your due diligence.

It won’t be long before governments get into the crypto market with a digital currency. They’ve already started this in China with the yuan, though in a limited way, and the African country of Nigeria has implemented one that has caused social upheaval.

You can see where a Central Bank Digital Currency (CBDC) will take us. The idea is to eliminate cash, and every individual will have a digital identifier so that when used in the economy to make purchases, the purchase is traced. Governments can program the currency and insert algorithms so that they can control how and where your money is spent. Is your purchase net zero-friendly? Are you purchasing approved food? Are you reading the right material?

Can this happen? China is well on its way to an entire social credit system. I bet we thought nothing like Covid would happen. The Australian government, including the opposition Liberal-National Coalition, has announced it will keep Australia in the Paris Climate Accord if it wins the next election. I suspect both major parties will be on board with a digital currency, wanting to align with the globalist agenda. We are on a dangerous course.

If a digital currency does indeed become commonplace, the power of government could exceed anything the old Soviet regime could imagine. In the wrong hands, the power of the digital age can, in fact, tyrannize us in the long term.

Donald Trump may forestall the move to a digital currency, but that may only be a temporary respite.

If you haven’t seen it, watch the documentary CBDC: The End of Money. It’s very instructive on where the globalists and big tech oligarchs want to take us.