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.”