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The popularity of cryptocurrencies has grown significantly over the past few years. In certain instances, there has also been a rise in value to go along with it. Going overboard with cryptocurrencies as your investment strategy carries significant danger, though, as it is significantly more volatile than other assets.

Although many people lament the falling value of the US dollar, Bitcoin has dropped 72% in value over the last 10 months. In the past ten months, the value of Ethereum has decreased by almost 74%.

In my opinion, it will most certainly rebound, but not for a while. You could try buying some Bitcoin if you have an additional $10,000 you’re ready to lose in exchange for a potential large payout, but I don’t even believe we’ve reached the bottom yet.

The White House has indicated a desire to develop its own digital money.

According to the Epoch Times,

The Biden administration is “closely examining” the possibilities for issuing a central bank digital currency (CBDC) based on a technical report prepared by the White House Office of Science and Technology Policy (pdf), along with other reports.

“If the U.S. pursued a CBDC, there could be many possible benefits, such as facilitating efficient and low-cost transactions, fostering greater access to the financial system, boosting economic growth, and supporting the continued centrality of the U.S. within the international financial system,” said Alondra Nelson, head of the White House Office of Science and Technology Policy in a press briefing on Sept. 16. “However, a U.S. CBDC could also introduce a variety of risks, as it might affect everything ranging from the stability of the financial system to the protection of sensitive data.”

Based on Executive Order 14067, a central bank digital currency system should integrate seamlessly with traditional forms of the U.S. dollar, improve existing payment systems, ensure global financial interoperability, advance “financial inclusion and equity,” protect national security, “provide ability to exercise human rights,” and “align with democratic and environmental values, including privacy protections,” the technical report states.

There is one major problem with switching to a centralized digital currency and that is the fact that they can do with it as they please. If they want to shut you off, they can shut you off. If they want to charge you an exorbitant amount of fees to hold it for you or for you to be able to withdraw it.

Don’t think it can happen? Well, I wouldn’t be so sure about that. It has happened in other places. While it is highly unlikely that anything is going to happen to us as a country that would be cause for something like this to happen, it’s not out of the realm of possibility if we end up in World War III.

Personally, I’ve never had any issue with trying to withdraw my own money. The only times where issues normally arise for people is when there is a large amount being deposited into an account and they want to withdraw it before it clears entirely. Banks aren’t wanting to take on too much risk because what if the check bounces after you withdraw $20,000? That becomes their loss.

However, something recently happened in Lebanon where a bank wasn’t allowing a woman to withdraw her own money so she took things to drastic measures and robbed the bank at gun point just to get her own money out of her account.

We are a much different country than Lebanon, but don’t think that the government is going to be any more kind with your money if they have ultimate control over your money.

Daniel

Daniel is a conservative syndicated opinion writer and amateur theologian. He writes about topics of politics, culture, freedom, and faith.

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  • It’s what the Great Reset is all about. The sooner this scurrilous, illegitimate administration is dumped out of power, the better. It is pushing the NWO-WEF crowd’s totalitarian agenda, and the public needs to wake up to it, and take action.

  • Stay-At-Home Mom Earned $6500 Last Month Online After Getting Sacked From Her Old 9-5 Job… Read More HERE ???.????????.???

    • Really? The American people have shown just how chickenschitt they are by refusing to do anything! Oh0m0 stole 8 years as POTUS; Piglosi and the Clintons have committed treason and live off of their corruption; the Bidungs and rest of the demoncrap party stole the recent election while the bidungs live on the millions they rake in from China and the Ukraine; Fraudchi and the pharmaceutical companies and the US government have been murdering the general population with a bioweapon masquerading as a vaccine; for decades the US government has been stealing the people’s money through the illegal and unconstitutional income tax system; the Us gov. incarcerates and falsely charges only Trump supporters for the Jan6 incident; or how about all of the attrocities that the “law enforcement” agencies across this nation get away with (and f00ls still support them); and this doesn’t even include all of the other atrocities that our government has perpetrated over the last 4 decades. You seriously think that the people are going to do anything when government changes to a digital currency? NEVER!!!!!!!!!!

      When the government institutes a digital currency we will become permanent slaves. There will no longer be the ability to buy and sell anything person to person; the gov. will “tax” every transaction; you won’t be able to buy anything outside the US without it going through government approval; bans will control your spending activity. By the way, this is exactly how the civil war started – the north insisted on excessively taxing the south and preventing them from any unapproved commerce!

      • “bans will control your spending activity”, should say “BANKS will control your spending activity”.

        And let me add, how about all of the illegals that the US government has allowed to cross the border and spread across this nation.

      • It will enable the government to implement a Social Credit system like China has. Biden has stated many times that the US needs the same kind of system. Reward low info Democrat faithful and punish everybody else, in the name of “inclusion and equity.”

  • Make no mistake. Biden loves China’s “Social Credit” system. Implementing digital currency will enable the government to control and make arbitrary decisions about our money.
    The EO reads it will “advance financial inclusion and equity,” protect national security, “provide ability to exercise human rights,” and “align with democratic and environmental values…” which simply means they will decide reapportion your savings in the name of “inclusion and equity.”
    If you are white, they claim your “white privilege” enabled you to steal everything you have from minorities. So, the government will decide what portion of your savings and property will be given to others.

  • If people are dumb enough to allow the government to decide how they can spend their own money,…and that is exactly what this will lead too. Vote republican, guess what, your debit card will no longer work at the grocery store or gas station. Over weight, your debit card won’t allow you to purchase that bag of chips and a coke at the 7-11. Forget purchasing ammo, anywhere. Cash will be non existent. If we want something the govt won’t allow you to have,..it will quickly become a barter system.

  • Alondra Nelson seems a result of Black academic inflation. In academic institutions of America today (and for several decades), Black students are not held to the same academic standards as other students. They are given significant preference in admissions and in advancement. So today many positions relying on academic credentials are going to far less qualified applicants because of decades of racial preference. One more incidence of decay of US standards and life in general. There is no substitute for equal standards in academic achievement. It is sad that some students who do achieve equally to their peers of other racial heritage are still not given appropriate credit because of this racial bias.

  • Because this administration has done such a FANTACTIC job with the economy so far right? Every time the government gets its hands on more money it wastes it., and whos not to say they can an will monitor your purchases. Want a pack of smokes, nope not today, how about a 12 pk of beer, no you’ve have too much this month, and lets forever forget about buying a firearm, OMG the NAZI SWAT team will be breaking down your doors

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