Post
Topic
Board Economics
Merits 1 from 1 user
Re: The Government-Backed Digital Dollar (USD)
by
doomloop
on 23/11/2019, 18:45:00 UTC
⭐ Merited by Hydrogen (1)
The reason bankers and the wealthy are throwing mountains of capital and political leverage behind mass adoption of cashless societies is the greater control it offers. If they illegalize cash and paper money. Then they have complete control over monetary transactions.

I think it's also governments who are heading off currency liquidity risks. Everyone is becoming increasingly worried about the next financial crisis and its effects on liquidity. When depositor money is locked inside the banking system (as opposed to cash), it's easier to prevent shocks to the economy. There are no bank runs in a cashless society.

Governments control our money in every possible way. And they move the market according to their Desires. If we face any financial crisis, authorities are responsible for that. To save oneself from such situations, it is best to invest in Bitcoin and other decentralized digital currencies. Bitcoin should be the first preference due to its ability of producing high profits within short duration of time. Banks will stay with us forever by evolving in accordance to changing time