A world of CBDCs (just a scenario)

Inspired by:https://twitter.com/mike_onthelam?s=21

A scenario: the dollar won’t hyperinflate.

However! When financial entities have enough assets, a cyberhack will hit the banks. You will not be able to access your $. The Fed will offer CB$, but at a one-tenth the value of the USD in your account…

You will now have, in a surveillance wallet, one-tenth of your money. You will say, “but what about FDIC?” The Fed will say, here’s what we will do, we will give you ~ one percent of your money or $500 in CBDC every month for the next 10 years (or so)…

It will not be enough to pay for your house. The Fed through an agent will bail your mortgage out (buy it and rent the house back to you). You will not be allowed to keep certain things in the house now that it’s rental property (guns)…

The CBDC they give you will not be enough to buy your house back, but that’s ok since they have reduced the payment for you until you increase the number of people living there to the minimum occupancy (at least 3 adults and a min of 8 people).

Your wallet will also cap your alcohol entertainment spending and any other activity deemed not for the “greater good”. Instead recreational will be carefully created.

Remember your money?

Well $500 a month doesn’t sound like much, but prices for everything will have dropped since the total supply of money has contracted so much. You will be able to buy basic foodstuff and if you have enough people in the house, afford your rent.

So far, while you own nothing, you are happy because you are still eating. You have been gradually selling your things to get a few extras, but that’s ok. Too bad that big screen tv is selling for $25. You paid a lot more for it. But that’s ok, Amazon are giving free, pre programmed TVs out.

Another benefit is that your medical is now also free. Of course you are expected to get random boosters when your sensor goes off. One of the neighbor’s kids died after getting one, but more than half the people are doing ok, and besides, you got that pesky tooth removed.

Money is now less of a concern. Your job, which amounts to filling out spreadsheets on your computer from home, is mind-numbing but stable. You’re not able to save for college, but you don’t really need college to fill out spreadsheets. Besides, your kids can always enrol in the free education programs.

You get free tickets to the game twice a year. That’s cool. Free hot dogs and cokes.

Strangely, you notice that the luxury boxes are full of well-dressed people. Is that still a thing?

As you live your little life on your CBDC, you hear rumors that there are new communities springing up in the where they don’t use CBDCs. Some renegade countries too. There was a news story about how the govt is looking into corrective actions, but nothing has happened so far.

Countries like El Salvador are regularly portrayed in the official news as places that don’t care about people. Everyone is still on their own when it comes to money, housing, jobs, vaccines. Wouldn’t want to live there.

Except you saw a picture, and it looks nice.

But then the media tells you about the guns and the viruses and the unsafe private digital currency that is so volatile and think twice.

You’re now used to your life, though you’re discontented. Then one day, a story gets through the usual mundane reports. People in Texas are buying up all the stuff. The report doesn’t really say what, but one question sticks in your mind: how are they able to buy anything?

Then you remember 20 years ago when they were talking about making Texas a #bitcoin mining mecca. Could it be that?

There is no way to know.

But you sure want to find out, your vaccine passport won’t allow you to travel there.

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Cogitating the nature of reality, the evolution of civilisation and the development of sound money

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Stuart Beverley

Stuart Beverley

Cogitating the nature of reality, the evolution of civilisation and the development of sound money

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