Thanks to the Federal Reserve, the idea that you can go into a store and anonymously purchase something with cash might soon be obsolete.
Why? Because they’re developing something called Fedcoin, which would be based on blockchain technology.
If you’re unfamiliar with blockchain technology, you’re not alone. Here’s how a piece on Motley Fool describes it:
The digital and decentralized ledger that records all transactions. Every time someone buys digital coins on a decentralized exchange, sells coins, transfers coins, or buys a good or service with virtual coins, a ledger records that transaction, often in an encrypted fashion, to protect it from cybercriminals. These transactions are also recorded and processed without a third-party provider, which is usually a bank.
Glenn Beck Goes into it a different View..The Globalists are going to replace the US Dollar for the World Reserve Currency. Meaning Cash is dead. You will be given a certain amount of time to turn in your old dollars for digital currency (DUSD). The longer you wait the less you are going to get for your greenbacks. The money in your bank account will overnight become DUSD’s). But not on a one to one ratio.
This will be done on a Progressive Scale..Guess who will get a higher value for their Greenbacks?? with exchange rates as high as 1.0 to 1.5 rate. (One us dollar gets SJW’s 1.5 in Digital Dollars)
Beck says he expects this to start just before the Midterm Elections..
So it is coming up on midterms..The Fed starts the switch to DUSD’s. Calling for all cash to be turned in at a specified exchange rate.If you want to get a higher exchange rate for your old outdated dollars you had better have a high ESG score..
Failure to turn it in promptly will mean a declining exchange rate. (You will get less digital for your saved up cash). This is what they are trying to do..they want to force people to trade in (To be able to trace) their off the Books $$ USD..
h/t JF Priest