Introducing the Digital Dollar!
In October, 2019, Bill Gates and the Microsoft Corporation have filed a patent pending application for a microchip that has the capability to track currency under a digital format. This microchip can include cryptocurrency. Apparently, Bill Gates also in partnership with the corporation of Visa, proposed a bill to the House of Representatives to develop and instate a Federal Digital Dollar that the U.S. Government can use to easily access government payments to the people in regards to taxes, emergency stimulus, and contract payments. The Speaker of the House, Nancy Pelosi, is in support of this bill and is championing it for approval in the house. As of August, 2020, the bill is currently in discussion in the U.S. Senate and the talks are that we could have a new Federal Reserve Digital Dollar being signed into law by as early as January 2021!
Now what does that mean to us as citizens of the United States? Well first and foremost, the implementation of the Digital Dollar will mean that the current currency system that we know of today with the paper dollar will become at some point extinct. I explained at the introduction of the blog that the events of 1933 and 1971 caused a major shift of the dollar and in essence caused the value of the dollar to decrease. The Digital Dollar in all essence will cause the paper dollar to lose more value to the point that within a couple of years after the implementation, cash dollars may become worthless! So if you are one that tends to save cash in a mattress, you may have to quickly rethink how to save your money for retirement.
This is my statement for awareness. There is going to be a major economic shift forthcoming and the purpose of this blog is to allow you to 1) Become Aware 2) Question your situation 3) Take Action to Correct for the Situation. We will continue this blog to talk about its correlation to the COVID-19 pandemic, its implementation on the global stage, and what forms of currency you should look to shift your monetary holdings so that you don’t lose money when the shift takes place. Introducing the Digital Dollar!