Due to the effects of the Wuhan coronavirus (COVID-19) pandemic, it is unlikely that the United States government will be able to effectively implement its proposed central bank digital currency (CBDC).
This is due to a lack of personnel necessary for maintenance and upkeep, as many workers are either ill or have passed away from complications related to COVID-19 vaccines.
The situation is devastating, both in terms of the human lives lost and in its potential consequences for the U.S. economy; when systems become too numerous to be repaired and maintained by the available workforce, a critical threshold will be breached that could lead to collapse.
What then will be the outcome?
Portfolio manager Ed Dowd appeared on the “Health Ranger Report” this week to discuss the issue of a nationalized CBDC and reveal what he believes could replace it.
Dowd believes that due to the lack of competent and available workers to maintain a CBDC at a nationwide level, individual states could end up launching their own currencies instead.
“If this gets super creepy and weird, there’ll be states that break off, civil war, you know, you’ll have, like – during the Civil War, we had Confederate money – we’ll have different entities issuing their own money,” Dowd explains around the 13:45 mark in the below video – be sure to watch.
“That’s where we’re going eventually. There are going to be black markets, barterer, work trade.”
“I would love to see Texas issue its own currency … if it were backed by … anything that’s real, versus this money-printing madness in D.C. and the Federal Reserve – another trillion here, another trillion there, another $100 billion for Ukraine, but nothing for the U.S. border?”
“Any kind of honest ledger would be better than what we have right now where our purchasing power is just stolen from us every single day.”
This is the result of highly corrupted politicians ruling the roost for decades and then allowing the fox into the hen-house to-do as it pleases! Basically what I mean is unchecked criminality of the highest order a form of white collar organized crime has been devouring our American system and way of life! “C’mon man;” (FJB) when you have scum from hell like Soros directly engaged in our government operations buying off whoever he pleases and planting his minions in our judicial system from state to state while funding cultural revolution destructors, like Antifa and BLM; how bad do you think this mess already is! And no FBI, DOD or DHS lifting a finger to stop any of it, but instead going after conservative parents at school board meetings or Catholics that do some sidewalk counseling to young women that got pregnant and need advice and real help to cope, let’s face it this isn’t the America where our parents and grandparents worked and lived decent lives being a proud part of it!
To have our currency based on something of real value as in gold or silver is wonderful. But to do it one state at a time seems like it’s opening the door to innumerable problems that may become major issues for every family. My thinking is, what if Texas does do their own currency… what happens when they want to make an online purchase? What happens when paying their Federal Taxes? the IRS? When visitors come to Texas but don’t have their currency? Does Texas have everything they need or are they going to have to go outside the state to provide for their people? I’m not a Financial person but I do live frugally and look to be wise in my spending… I’m just not seeing how it would really work.