Will The U.S. Digital $$$ Prohibit The Purchase of Bacon?
What is the relationship between the digital dollar, ESG, and Disney?
Biden announced March 9, 2022 his executive order on “Ensuring Responsible Development of Digital Assets” to “Explore a U.S. Central Bank Digital Currency (CBDC) by placing urgency on research and development of a potential United States CBDC,”… which caused the crypto market to respond with about a 10% dip.
Why does this topic matter to you?
To me?
To your neighbor?
The idea behind a digital dollar replacing our paper one is that the digital dollar is not only traceable but programmable. What does this mean?
No more bacon, likely.
Remember the futuristic dystopian Michael Bay movie, The Island, from 2005 with Ewan McGregor and Scarlett Johansson that is set in a controlled “protected” colony free from a global virus that we later learn was run by oligarchs and corporate fat cats?
Despite being almost 20 years old, it is still a good movie and worth watching in my opinion.
But I digress, back to the bacon.
There is a scene early on in the movie, well here it is. No use in me explaining what you can watch more joyfully.
Theoretically, and literally in China, a government digital currency can govern how we spend, or rather, are allowed to spend our money. If you have high blood pressure the black hand could prohibit your purchase of more bacon or beer “for your health” and the betterment of society.
Sounds like China’s social credit system, huh?
According to New Horizons, a global employee brokerage operating in 6-8 countries, “The China social credit system is a broad regulatory framework intended to report on the ‘trustworthiness’ of individuals, corporations, and governmental entities across China.”
Business Insider: “China's 'social credit' system ranks citizens and punishes them with throttled internet speeds and flight bans if the Communist Party deems them untrustworthy.'“
“The exact methodology is a secret — but examples of infractions include:
-bad driving, smoking in non-smoking zones, buying too many video games, posting fake news online, specifically about terrorist attacks or airport security…
-whether people pay bills on time …
-you or your kids could also miss out on the best jobs and schools …
-get your dog taken away …
-naming and public shaming” …
This has been being implemented in China for several years now and isn’t new to them. But it is rather new to us in the West.
Watch this video from James O’Malley (Freelance journalist for hire according to his Twitter bio) taken in China on a bullet train announcing punishments (in English) and reporting citizens to the social credit system hurting their scores.
Is this where we’re heading in the United States?
In light of recent events with the Biden administration announcing their pursuit of creating a traceable and programmable digital dollar by the end of the year on one side and ESG (Environmental, Society, and Governance) being implemented on another side of our culture we clearly see examples such as Disney being used by this ambiguous black hand to make radical and significant changes in both the United States and the world.
ESG is a whole other article, but in short it focuses on assigning scores on corporations and citizens (social credit system) who have good standing with regards to climate change, “data hygiene,” and gender and diversity inclusion.
A most recent example was revealed in Disney’s leaked video where an executive vows to make 50% of the characters LGBTQIA2+) and Vivian Ware (Diversity and Inclusion Director of Disney) says in another leaked video Disney will no longer use “ladies, gentlemen, boys and girls,” to welcome ladies, gentlemen, boys and girls.
The natural question is what is driving corporations to embrace and force this woke ideology in the faces of the silent majority of Americans who don’t agree or support these unfounded claims, specifically related to gender topics? The silent majority believe the science that there are only 2 biological genders, one male and one female.
Whose hand is controlling and directing such falsities? (also a whole other article)
We have society being redefined on one side, Disney case in point, and governance being recreated on the other via our financial institutions.
My thought at this time on the U.S. digital dollar and cryptos is that the more crypto currencies there are the better it will be for us plebes and serfs. Having multiple currencies to choose from forces them, and governments, to compete with one another by providing the people with the best utility, security, and privacy (3 things government doesn’t seem to want us, the people, to have on our own).
The argument that centralizing a digital dollar by regulating decentralized cryptos out of existence and how this will prevent fraud is a farce. As the United States government continues to develop this centralized programmable digital dollar I can easily foresee bartering of goods and services increasing vastly in the years to come.
I imagine those with actual skills in the trades will do very well in the years to come because they will be able to trade their skills for tangible assets, separate from anything digital.
For now, enjoy your bacon and freedom to drive down to your local bakery for a box of donuts. Because if things continue in this direction we all might be scanning QR codes to see if we’re permitted to enjoy a slice of cake at our friend’s kid’s birthday party.