Is there a digital economy on the horizon. To be or not to be...what say ye?
As some of you may well know, America has been testing out their capability of moving its banking system to a digital platform for the past three years, evidenced by EMV chip transition with banking cards, and chip card readers.
Unbeknownst to common people, America realized that it’s banking system was in serious trouble by 2012, after the last recession we experienced back in 2007.
Hence the stock market has been being pitted ever since; interest have been steady climbing and going through the roof since then; and they’ve been printing the U.S. dollar like it's nobodies business, in hopes to reboot the economy again. However, with this newly emerge crisis that has emerged in the form of a world-wide pandemic known as Covid-19; The U.S. will finally be forced to pull the trigger on the American dollar. The process will continue to be gradual just as it has, but will begin to be more progressive with the coming months, and by 2021 a digitized way of banking will be more apparent to not only American’s bank accounts, but will be a new way of commerce for America withal.
Now a digitized monetary system is not to be mistaken with having chips implanted, at least not yet. As these matters are two very separate things for the time being.
America’s budget is now top heavy and the only real way to remedy it’s problem is to go digital. In a sense America has already taken it’s platform digital unbeknownst to it’s citizens, as most American’s utilize plastic for everything when it comes to commerce.
Meanwhile there is certainly a ledger balance at the bank, given that one has an amount of money sitting in a either checking or savings account; but that money is surely not just sitting at the bank, in fact it doesn’t actually exist, it’s a real number, yet it’s digital currency. As the FDIC is no longer backed by the weight of gold and hasn’t been since 1934. https://www.federalreserve.gov/faqs/currency_12770.htm.
Now I know this may seen like a lot to swallow all at once, but the paper dollar 2020 as we know it, has officially took a nose dive; and if America plans to at least
get back in the fight for another 8 years, the dollar has to go digital.
Like, with anything new, it will be an adjustment for the American people, but necessary nevertheless, in order to clear up some of the debt, where America’s trillion-dollar deficit is concerned. However, be mindful that this digitized monetary system that I speak of, is not to be mistaken with having micro-chips implanted in one’s body, at least not yet.
As these are two very separate matters and entities for the time being. But micro-chips implants are definitely on the horizon, just not in the very near future, we have a while before they start imposing said chips on the general public.
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