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Is There A War On Cash And Precious Metals In 2024

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 Posted 04/24/2024  12:13 am  Show Profile   Bookmark this reply Add manosgerms to your friends list Get a Link to this Reply
Well there is indeed a war on cash.
In fact in July of 2023 Fednow went live which means anyone from JPMorgan to a mom and pop diner can now pay and get paid instantly via the Fednow network.
The Fed set up Fednow because it wants to make the dollar into a CBDC ... a Central Bank Digital Currency.
The Fed and other Central banks are very scared of the cryptos and they really want to curb them in. The way they will do that is via creating their own cryptocurrency which is just a digital dollar and then they will go and shut down bitcoin once everyone is on their network.
This will of course start out as optional and the digital dollar will basically transact side by side with cash but at one point once a critical mass of people are on Fednow and use the digital dollar the US will basically declare all notes no longer legal tender. Other countries do that all the time whenever they have new notes. Some like the UK would still honor any old note at face but only if you physically take them to the Bank of England in person. Others like Switzerland actually void their banknotes completely. Regardless the US will eventually do this also but probably not for a while.
The first thing to happen will be for the USD to become digital. If Biden wins again this year it will happen in his term, if Trump wins then it won't happen then but will do when the next Dem becomes POTUS at the latest.
It is true that not allowing cash can give SOME protection against criminals but they usually have some alternative way of transferring money such as cryptos or even "fine art".... in reality a digital currency will give unprecedented control to any government. And that is seldom a very good thing.
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 Posted 09/09/2024  3:35 pm  Show Profile   Bookmark this reply Add glenmorenee to your friends list Get a Link to this Reply
Thought I'd send this topic back to the top as I think it addresses a problem that we all might face eventually.

This guy has a similar problem as the OP.

https://www.ebay.com/itm/335546867153

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thq's Avatar
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3343 Posts
 Posted 09/11/2024  11:33 am  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
PM's are winning the war right now, but who knows in the future. It is surprising that they are still increasing in value when 2 year CD's are yielding over 4%.

What is disappointing is the sheer number of high grade PM collectable coins on the market at 5-10x their value as bullion. The market for double eagles is strong at $2500 but not at $25,000. The premiums being asked are outlandish for coins that aren't particularly scarce, especially for the branch mints.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
09/11/2024 11:39 am
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