Fedcoin! The World’s Premier Global Reserve Digital Currency?

We’ve been trying to spread the word about the coming digital dollar revolution, for nearly a year now. There’s been so much fake news and general obfuscation in the media, I’m not sure that even half of the American public has a clue about the government’s war on cash and what’s about to happen. It’s not just an idea. Fedcoin is one of the very few plans that our government actually has and is moving forward on with full force. Last week, Lael Brainard, a member of the Federal Reserve Board of Governors, announced that the Fed is working closely with the Massachusetts Institute of Technology (MIT), to develop and implement a central bank digital currency (CBDC), which is intended to replace our current paper-based system. Americans hearing this for the first time are typically shocked in most cases, but it’s really not a stretch at all.

The reality of the situation is that more than 90% of money in the world today is not physical currency, but exists in one digital form or another, whether they are entries on a bank’s ledger, a company’s books, or a portfolio statement. And large expenditures, like mortgage payments, car purchases, and hospital payments do not typically utilize physical currency, for a number of reasons including; safety, security, and convenience. But it has always remained an option. The government is assembling a sales pitch that will explain their overwhelming desire to make currency use in American life, simpler, more efficient, and more convenient. The ATM was created in the late 1960’s and permeated the world throughout the 70’s. The pitch to consumers was similar, but the actual reasons for implementation were pure business and all for the benefit, control and cost-savings of the banks. And be warned, the Fedcoin pitch and its purpose, will be no different. They’re preparing to make this new convenience available from your digital wallet or smartphone app. What you will never hear from them is the accompanying privacy invasion.

Back in April of this year, The People’s Bank of China began a CBDC pilot program in four cities. Its stated goal was to increase consumer convenience and reduce reliance on paper currency. But make no mistake about it – like Fedcoin, it is a “centrally-controlled” digital currency, issued on a blockchain. I’ll detail the ramifications at another time, but suffice to say that it’s causing George Orwell to turn over in his grave. There is talk that Fedcoin is going to become the premier global reserve digital currency and bitcoin will soon be a cryptocurrency of the past. Such comments are nothing more than deranged bloviation. The truth is that bitcoin usage, acceptance and overall appreciation is going to be dramatically enhanced by the proliferation of centrally-controlled, blockchain cryptocurrencies.

Bitcoin, gold, and other precious metals are well-positioned to surge in value for an extended period of time, while the COVID-19 induced recession, caused by the resulting global economic carnage, continues to take root. Failing to plan is a plan to fail. Reach out to the experts at American Bullion, for assistance protecting portfolios, assets and legacies. Call (800) 653-GOLD (4653). NOW!