Armstrong Economics Blog/Cryptocurrency Re-Posted Feb 10, 2023 by Martin Armstrong
I know we have a lot of people expressing their opinion that the dollar will crash because when the government converts it to digital, it will be like spy wear tracking everything we do. Now you have people running around preaching the dollar will crash any day citing Biden’s Executive Order 14067. However, read it carefully and you will see what I have been saying that they will NEVER allow cryptocurrencies to compete with the sovereign currency.
“(ii) My Administration sees merit in showcasing United States leadership and participation in international fora related to CBDCs and in multi country conversations and pilot projects involving CBDCs.”
I have reported back in 2021 that the Bank of England proposed that digital currency should be programmable. A mother should be able to block her child from spending money on candy. If mom can do that, then big brother can do it on a grand scale.
The monopoly of the government to create money goes back to ancient times. They will not surrender that power. They have allowed cryptocurrencies to exist ONLY to get the people to embrace them letting the private sector sell the idea and then they will confiscate them all.