As the world moves ever closer toward a cashless society with the introduction of digital currencies, there are growing concerns about the possible implications of a digital dollar.
Critics argue that if implemented without proper safeguards, the digital dollar could be used as a tool for political control, denying citizens access to their own money if they do not comply with certain criteria.
One of the most alarming scenarios proposed by opponents is the potential for the digital dollar to be programmed to stop working for certain purchases under certain circumstances, effectively granting the government control over your spending habits.
For instance, if you are a frequent traveler, but are also considered a “big polluter,” your digital dollars could be banned from making purchases on flights.
Similarly, if you own a gas-powered car, the authorities could limit your gasoline purchases through the use of digital currency as a way to force you to switch to a more eco-friendly alternative.
However, it is not just environmental concerns that could lead to a loss of financial autonomy. The government could also use the digital dollar to control what you eat, with the potential for meat consumption to be limited or even banned for the sake of the planet.
Furthermore, the currency could even be weaponized against political opponents, with certain individuals or organizations being barred from receiving digital payments if they are deemed to be working against the interests of the government.
This level of political control over digital payments is unprecedented and raises significant concerns about the potential abuse of power.
If the government has the power to dictate what people can and cannot buy, then personal financial independence is lost, and individual liberties are curtailed. It is therefore crucial that safeguards are put in place to prevent the digital dollar from becoming a tool for oppressive political control.
If you think this all sounds too crazy to ever happen, don’t forget that Visa and Mastercard have already done similar things by preventing certain purchases.
Now imagine if the liberal government had control over that sort of thing. A digital US dollar is a bad idea all around. We’ve got to fight against it.