Categories
Covid Economics Government Regulation Taxation

Oct. 17, 2021

Today’s dump includes carefully curated alt-information on the Coronadoom, and a few tidbits on what’s really in that $5 trillion “infrastructure” bill.  Also does the plan for a “digital dollar” mean the end of cash – and your privacy?

Coronadoom:

Canadian doctor describes her experiences in an Ontario ER:

Dr. Peter McCullough is no slouch, and he has some very interesting information on Covid and the vaxx:

Project Veritas interviews a Pfizer whistleblower:

I’m from the government and I’m here to help you:

Under the $3.5 trillion proposed infrastructure bill, banks will be required to report customer account information for bank accounts with at least $600 or at least $600 worth of transactions. This will also include transfers between accounts. The Biden administration claims this plan targets “billionaires” who don’t pay their “fair share”. Yet anyone that direct deposits their checks (and makes more than $600 a year); anyone that pays rent, or a mortgage; actually just about everyone will be targeted.

Read it and weep

The Independent Community Bankers of America (ICBA), a group which represents thousands of small community banks and credit unions has come out against the proposal along with numerous other trade groups and State Treasurers.

Of course the “Fact Checkers” are in full spin mode, claiming among other things that Congress must approve of the measure first (duh, it’s in the Infrastructure package).  Also that “only” inflows and outflows will be reported – however flags on these amounts would permit access to transaction-level information, and would likely trigger audits. The cost of implementing the measure could put many small community banks and credit unions out of business, forcing Americans with no choice but to bank with the big corporates.

The immediate goal appears to continue Washington’s assault on small businesses. However, with the power to collect these data, it may be just the beginning.

Are you ready for the Digital Dollar?

The Federal Reserve is currently “exploring” the creation of a “digital dollar”. The digital dollar is a form of Central Bank Digital Currency (CBDC), similar to crypto but with none of the privacy protections of crypto. The CBDC would also be programmable.  CBDC’s would also pave the way for negative interest rates – a reduction in value of your “digital dollar” holdings done at the direction of the Federal Reserve.  Such negative interest rates are viewed by some as a “boom” to the economy, because they reduce the incentive to save, and increase the likelihood consumers will spend their money rather than lose it to central bank devaluation.

Of course, if a CBDC existed alongside physical cash, that might not work so well.

Indeed, when the Bank of Japan tried negative interest rates there was a run on safes – millions of Japanese pulled out their cash and stashed in their homes.  So this would likely necessitate the inevitable demise of the greenback.

Now imagine – no cash, digital dollars (programmable dollars) – everything can be tracked. The government will know what you buy, when you buy it, and how much you spend on various items like gasoline, meat, alcohol – all the good stuff.   Perhaps a “carbon tax” because of your cumulative consumption of fossil fuels and meat? Or maybe the programmable “FedCoin” just won’t allow you to buy that six-pack – for your own good, of course.

One reply on “Oct. 17, 2021”

Leave a Reply

Your email address will not be published.

%d bloggers like this: