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Biden Administration Executive Order on Digital Dollars. All money may become electronic.

All money may become electronic.

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Captain Adverse

Classical Liberal Sage
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I just found out about this Executive Order, not by any Major news report, just a random advertisement on YouTube while waiting for my next video to start.

Here is a link to the full Executive Order: https://www.coindesk.com/policy/202...-of-bidens-executive-order-on-cryptocurrency/

So you don't think it is a fake, here is a link to the White House "Briefing Room" fact sheet: https://www.whitehouse.gov/briefing...ing-responsible-innovation-in-digital-assets/

Reading through all the justifications and 'lofty goals" you eventually get to this part:

"Within 120 days of the date of this order, the Secretary of the Treasury, in consultation with the Secretary of State, the Secretary of Commerce, the administrator of the United States Agency for International Development, and the heads of other relevant agencies, shall establish a framework for interagency international engagement with foreign counterparts and in international fora to, as appropriate, adapt, update and enhance adoption of global principles and standards for how digital assets are used and transacted, and to promote development of digital asset and CBDC technologies consistent with our values and legal requirements. This framework shall be coordinated through the interagency process described in section 3 of this order. This framework shall include specific and prioritized lines of effort and coordinated messaging; interagency engagement and activities with foreign partners, such as foreign assistance and capacity-building efforts and coordination of global compliance; and whole‑of‑government efforts to promote international principles, standards and best practices. This framework should reflect ongoing leadership by the Secretary of the Treasury and financial regulators in relevant international financial standards bodies and should elevate United States engagement on digital assets issues in technical standards bodies and other international fora to promote development of digital asset and CBDC technologies consistent with our values. (ii) Within one year of the date of the establishment of the framework required by section 8(b)(i) of this order, the Secretary of the Treasury, in consultation with the Secretary of State, the Secretary of Commerce, the director of the Office of Management and Budget, the administrator of the United States Agency for International Development and the heads of other relevant agencies as appropriate, shall submit a report to the president on priority actions taken under the framework and its effectiveness."

It appears that our government is not only concerned about "independent" electronic currency, but seeks to adopt it and adapt our monetary system to a method of currency that can be easily monitored and better controlled.

Shades of every Sci-Fi story where the government not only controls your money completely, but knows how you spend it.

Are you for this? Against this? Other?
 
I don't see your concern. I see an attempt to control crypto (which is concerning) and (possibly) NFTs, but nothing here says we're about to eliminate cash.
 
This is dumb. It makes the system more brittle to cyber warfare.
 
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I don't see your concern. I see an attempt to control crypto (which is concerning) and (possibly) NFTs, but nothing here says we're about to eliminate cash.

Think science fiction.

No more hard currency, all electronic.

This allows for several government controls.

1. Track all spending and earnings.

2. Seize/freeze all "electronic funds."

3. Monitor YOUR movements more easily.

4. Allow businesses to also do all kinds of tracking they want by access to "spending trends," preferred locales, etc. Isn't it enough that they already do this with credit/debit cards...and your phones?

I am leery of all the dependence on electronics already being used. As well as all the tracking methods and how this is being used to "guide us" along paths that special interests want us to travel.

The more "they" can see, the less privacy we have, and the more dependent we become.
 
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Reactions: PoS
Think science fiction.

No more hard currency, all electronic.

This allows for several government controls.

1. Track all spending and earnings.

2. Seize/freeze all "electronic funds."

3. Monitor YOUR movements more easily.

4. Allow businesses to also do all kinds of tracking they want by access to "spending trends," preferred locales, etc. Isn't it enough that they already do this with credit/debit cards...and your phones?

I am leery of all the dependence on electronics already being used. As well as all the tracking methods and how this is being used to "guide us" along paths that special interests want us to travel along.

The more "they" can see, the less privacy we have, and the more dependent we become.
Were I of the opinion this executive order was a move to eliminate cash, I'd be dead-set against it. I just don't see it, though.
 
Were I of the opinion this executive order was a move to eliminate cash, I'd be dead-set against it. I just don't see it, though.

Why else would the government want to adopt "electronic currency?"

Look at the historical transition of currency.

1. Barter. Not very efficient and hard to tax.

2. Metallic coin. Durable, taxable, had intrinsic value (Gold, Silver, etc.) that was universally accepted.

3. Paper money, backed by metals (gold, silver, platinum, etc.). Less durable, but still trusted as having exchange value for real value.

4. Paper money, backed by "faith" in government. Less durable, subject to inflation and deflation. But at least the ability to carry and spend it without concern for Big Brother.

5. Debit/Credit Cards. Still backed by "faith" in banks and the ability to convert bank funds into hard currency if needed. But trackable. I prefer cash.

Now the "future" wants to go full electronic? Easy to monitor, easy to control, backed by nothing except faith in government.

Faith in government? That's a laugh!
 
Why else would the government want to adopt "electronic currency?"

Look at the historical transition of currency.

1. Barter. Not very efficient and hard to tax.

2. Metallic coin. Durable, taxable, had intrinsic value (Gold, Silver, etc.) that was universally accepted.

3. Paper money, backed by metals (gold, silver, platinum, etc.). Less durable, but still trusted as having exchange value for real value.

4. Paper money, backed by "faith" in government. Less durable, subject to inflation and deflation. But at least the ability to carry and spend it without concern for Big Brother.

5. Debit/Credit Cards. Still backed by "faith" in banks and the ability to convert bank funds into hard currency if needed. But trackable. I prefer cash.

Now the "future" wants to go full electronic? Easy to monitor, easy to control, backed by nothing except faith in government.

Faith in government? That's a laugh!
You’re making shit up the order doesn’t actually say and you seem confused as to why not everyone is just assuming the same things as you.
 
adoption of global principles and standards for how digital assets are used and transacted

Of course the tard left loves and defends this directive.
 
Think science fiction.

No more hard currency, all electronic.

This allows for several government controls.

1. Track all spending and earnings.

2. Seize/freeze all "electronic funds."

3. Monitor YOUR movements more easily.

4. Allow businesses to also do all kinds of tracking they want by access to "spending trends," preferred locales, etc. Isn't it enough that they already do this with credit/debit cards...and your phones?

I am leery of all the dependence on electronics already being used. As well as all the tracking methods and how this is being used to "guide us" along paths that special interests want us to travel.

The more "they" can see, the less privacy we have, and the more dependent we become.

Government can only effectively ban crypto or cash for online transactions, which is irrelevant since those are digital cash already. For face to face transactions you will still be able to use cash of other countries, or even gold.

US cash is fairly traceable already. Each time it passes through a bank, there's an opportunity for the bank to read the serial numbers, and government doesn't even have to pay to access that information. It's useful to law enforcement but not really to the bank. Retail banks are continually laundering money, so government has that to hold over them.
 
I just found out about this Executive Order, not by any Major news report, just a random advertisement on YouTube while waiting for my next video to start.

Here is a link to the full Executive Order: https://www.coindesk.com/policy/202...-of-bidens-executive-order-on-cryptocurrency/

So you don't think it is a fake, here is a link to the White House "Briefing Room" fact sheet: https://www.whitehouse.gov/briefing...ing-responsible-innovation-in-digital-assets/

Reading through all the justifications and 'lofty goals" you eventually get to this part:

"Within 120 days of the date of this order, the Secretary of the Treasury, in consultation with the Secretary of State, the Secretary of Commerce, the administrator of the United States Agency for International Development, and the heads of other relevant agencies, shall establish a framework for interagency international engagement with foreign counterparts and in international fora to, as appropriate, adapt, update and enhance adoption of global principles and standards for how digital assets are used and transacted, and to promote development of digital asset and CBDC technologies consistent with our values and legal requirements. This framework shall be coordinated through the interagency process described in section 3 of this order. This framework shall include specific and prioritized lines of effort and coordinated messaging; interagency engagement and activities with foreign partners, such as foreign assistance and capacity-building efforts and coordination of global compliance; and whole‑of‑government efforts to promote international principles, standards and best practices. This framework should reflect ongoing leadership by the Secretary of the Treasury and financial regulators in relevant international financial standards bodies and should elevate United States engagement on digital assets issues in technical standards bodies and other international fora to promote development of digital asset and CBDC technologies consistent with our values. (ii) Within one year of the date of the establishment of the framework required by section 8(b)(i) of this order, the Secretary of the Treasury, in consultation with the Secretary of State, the Secretary of Commerce, the director of the Office of Management and Budget, the administrator of the United States Agency for International Development and the heads of other relevant agencies as appropriate, shall submit a report to the president on priority actions taken under the framework and its effectiveness."

It appears that our government is not only concerned about "independent" electronic currency, but seeks to adopt it and adapt our monetary system to a method of currency that can be easily monitored and better controlled.

Shades of every Sci-Fi story where the government not only controls your money completely, but knows how you spend it.

Are you for this? Against this? Other?
While this order (and the regulatory actions that motivated it) are bad, it doesn't do what you say. This is an attempt to further regulate cryptocurrencies (such as Bitcoin, Ethereum, etc.), likely with the goal of establishing a blacklist of sorts for "dirty" cryptocurrency. It doesn't have anything to do with the use of dollars (in either physical or electronic form).
 
Fake Republicans live in the world of illusions ..........
 
I just found out about this Executive Order, not by any Major news report, just a random advertisement on YouTube while waiting for my next video to start.

Here is a link to the full Executive Order: https://www.coindesk.com/policy/202...-of-bidens-executive-order-on-cryptocurrency/

So you don't think it is a fake, here is a link to the White House "Briefing Room" fact sheet: https://www.whitehouse.gov/briefing...ing-responsible-innovation-in-digital-assets/

Reading through all the justifications and 'lofty goals" you eventually get to this part:

"Within 120 days of the date of this order, the Secretary of the Treasury, in consultation with the Secretary of State, the Secretary of Commerce, the administrator of the United States Agency for International Development, and the heads of other relevant agencies, shall establish a framework for interagency international engagement with foreign counterparts and in international fora to, as appropriate, adapt, update and enhance adoption of global principles and standards for how digital assets are used and transacted, and to promote development of digital asset and CBDC technologies consistent with our values and legal requirements. This framework shall be coordinated through the interagency process described in section 3 of this order. This framework shall include specific and prioritized lines of effort and coordinated messaging; interagency engagement and activities with foreign partners, such as foreign assistance and capacity-building efforts and coordination of global compliance; and whole‑of‑government efforts to promote international principles, standards and best practices. This framework should reflect ongoing leadership by the Secretary of the Treasury and financial regulators in relevant international financial standards bodies and should elevate United States engagement on digital assets issues in technical standards bodies and other international fora to promote development of digital asset and CBDC technologies consistent with our values. (ii) Within one year of the date of the establishment of the framework required by section 8(b)(i) of this order, the Secretary of the Treasury, in consultation with the Secretary of State, the Secretary of Commerce, the director of the Office of Management and Budget, the administrator of the United States Agency for International Development and the heads of other relevant agencies as appropriate, shall submit a report to the president on priority actions taken under the framework and its effectiveness."

It appears that our government is not only concerned about "independent" electronic currency, but seeks to adopt it and adapt our monetary system to a method of currency that can be easily monitored and better controlled.

Shades of every Sci-Fi story where the government not only controls your money completely, but knows how you spend it.

Are you for this? Against this? Other?
It's about cryptocurrencies, nothing to do with US dollars.
 
Why else would the government want to adopt "electronic currency?"

Look at the historical transition of currency.

1. Barter. Not very efficient and hard to tax.

2. Metallic coin. Durable, taxable, had intrinsic value (Gold, Silver, etc.) that was universally accepted.

3. Paper money, backed by metals (gold, silver, platinum, etc.). Less durable, but still trusted as having exchange value for real value.

4. Paper money, backed by "faith" in government. Less durable, subject to inflation and deflation. But at least the ability to carry and spend it without concern for Big Brother.

5. Debit/Credit Cards. Still backed by "faith" in banks and the ability to convert bank funds into hard currency if needed. But trackable. I prefer cash.

Now the "future" wants to go full electronic? Easy to monitor, easy to control, backed by nothing except faith in government.

Faith in government? That's a laugh!
Your inner conspiracy theorist is getting the better of you. None of this means what you think it does.
 
They'll get my cash when they pry it from my cold dead hand.
 
It's all about more control, and Im sure there will be a major pushback.
 
While this order (and the regulatory actions that motivated it) are bad, it doesn't do what you say. This is an attempt to further regulate cryptocurrencies (such as Bitcoin, Ethereum, etc.), likely with the goal of establishing a blacklist of sorts for "dirty" cryptocurrency. It doesn't have anything to do with the use of dollars (in either physical or electronic form).

Not true. READ the entire order.

It starts off (as many twisted goals do these days) with a high-sounding rationale. But when you read it all you find it is about CONTROL and seeking to create a true electronic international monetary system for this purpose.

Now when cellphones came out no one thought they would become the prime method of communication in use today, or that they would almost completely replace the old telephone systems. Hell, electronic money was created as an alternative to "real money" that people could use to "barter" with outside the control of governments.

Apparently, governments don't like this for all sorts of "control" reasons.
 
I'm not sure I'd just believe something from YouTube. But generally speaking Congress was given the power to print and regulate our currency. I doubt an executive order could fundamentally change how our currency is regulated.
 
Here are some simple truths: the vast majority Americans do not use much cash these days and there will come a time when paper currency is no longer printed.
With electronic currency eventually to become the currency, I see the EO in question as merely an effort to explore how it can be done securely, efficiently, etc.

But a conspiracy theorist, as the OP appears to be, looks past all the practical issues and dives into "look how the government is planning to monitor and control us now." For people looking for the governmental boogey man around every cyber corner, I'd suggest retiring to a remote cabin in Montana and live off the grid. The rest of us will soldier on, recognizing that 1984 has long since come and gone and the government has still not taken over our lives.
 
Not true. READ the entire order.

It starts off (as many twisted goals do these days) with a high-sounding rationale. But when you read it all you find it is about CONTROL and seeking to create a true electronic international monetary system for this purpose.

Now when cellphones came out no one thought they would become the prime method of communication in use today, or that they would almost completely replace the old telephone systems. Hell, electronic money was created as an alternative to "real money" that people could use to "barter" with outside the control of governments.

Apparently, governments don't like this for all sorts of "control" reasons.
My apologies. I missed the part about "Central Bank Digital Currencies".
 
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