Posted November 22, 2022
By Matt Insley
Biden Bucks Have Arrived
Here at Paradigm Press, we’ve been writing about central bank digital currencies for the better part of this year.
Or maybe I should say we’ve been warning about it. Our macro expert Jim Rickards has a credible thesis that a U.S. CBDC, what we call Biden Bucks, will replace physical cash sooner than anyone expects.
Jim’s made a compelling case that’s caught nationwide attention. Biden Bucks is coming even though it may sound far-fetched at first, according to Jim, and it poses a grave danger to you and your financial privacy.
So the flurry of headlines on digital currencies this week didn’t catch me by surprise…
Reuters: “Banking Giants and New York Fed Start 12-Week Digital Dollar Pilot”
WSJ: “The U.S. Needs a Better Digital Dollar”
Seeking Alpha: “The Digital Dollar: Here It Comes”
Today, I want to share what Jim wrote this week as yet another one of his big predictions has come to pass before our eyes…
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Your Rundown for Tuesday, November 22, 2022...
The Only Way Around It?
First, Jim dropped a reminder about why this development should worry us. A central bank digital currency allows unprecedented government monitoring of our behavior.
“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,’” Jim continues. “Sorry, it’s happening now.”
That pilot program in New York that Reuters reported?
“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.
“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.”
Okay, so what can Americans do to protect themselves?
“The only way around this is to start acquiring gold and silver coins, if you don’t have them already. One ounce of 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...
“If you find it intimidating to get started, let me help you – open an account with the Hard Assets Alliance today.”
Full disclosure? Our firm partners with Hard Assets Alliance, so you can assume we take a small cut of any purchases. But prices are among the best in the business.
Market Rundown for Tuesday, Nov. 22, 2022
S&P 500 futures are up 0.25% to 3,960.
Oil is up over 1% to $80.88 for a barrel of WTI.
Gold is up 0.35% to $1,745.70 per ounce.
And flagship crypto Bitcoin is up 1.70% to just over $16,000.
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