Fast Moving Incoming Recession . . . .

[jazz]

Central bank digital currencies, still conceptual in development. Cryptos appear to have pushed central banks into digital era..

CBDC will allow the carrot and stick economy to flourish. Targeted inflation - say the restaurant industry is a little down this quarter, send everybody $100 to eat out. Wont have to raise rates to pull back the money supply when they want. Consumers will do it for them. China already does this.

If current CB policy is equivalent to a fire hose spraying all over the economy, then CBDC would be considered a sniper rifle.

[biglentil]

If CBDC are coming do you think it's wise to hold dollars or hard assets Errol? This is from 1 year ago.

"The Bank of Canada Governor Tiff Macklem reveals that the Canadian digital dollar is well past the trial phases. Macklem further revealed in a press interview with Reuters that the Canadian Government is working with G-7 countries towards the official launch of Canadian central bank digital currency (CBDC).

Revealing the progress, Macklem explained that the Canadian digital dollar is out of the proof of concept phase despite a lack of immediate need. He also constrained from revealing a launch date holding the stance on the CBDC."

[errolanderson]

There is a necessity to maintain stock markets at record levels to keep the scheme going. Valuations and economic logic appear to mean little.

Any crack and humpty-dumpty may be done . . . .

[biglentil]

There is a necessity to maintain stock markets at record levels to keep the scheme going. Valuations and economic logic appear to mean little.

Any crack and humpty-dumpty may be done . . . .

So hold the very dollars CB's have been recklessly printing?

[errolanderson]

If CBDC are coming do you think it's wise to hold dollars or hard assets Errol? This is from 1 year ago.

"The Bank of Canada Governor Tiff Macklem reveals that the Canadian digital dollar is well past the trial phases. Macklem further revealed in a press interview with Reuters that the Canadian Government is working with G-7 countries towards the official launch of Canadian central bank digital currency (CBDC).

Revealing the progress, Macklem explained that the Canadian digital dollar is out of the proof of concept phase despite a lack of immediate need. He also constrained from revealing a launch date holding the stance on the CBDC."

Holding hard assets have been a boon in the current inflationary push and scramble for hard assets. This has certainly been supported by record breaking equity markets. But there is a shelf life to this inflationary surge (IMO). It is important for crude oil prices to hold up. It is very important for equities to hold up.

[rumrocks]

Digital currency may restrict the illegal use of paper money to only transactions in underground purchases or bartering, similar to prisons and cigarettes.
Paper currency will become scarce and may even become an offense to own, while drug lords with huge supplies of paper will do well.
This is why governments prefer digital, as it's easier to track for tax revenue. It's a slippery slope, vote accordingly.

[GDR]

I can see a shift / use to Digital Currency from central banks but doubt that cash and a conversion to cash will disappear. Just like the other cryptos they are supposed to be there own thing yet you can buy and sell them as they convert back to cash so what does it really accomplish? There aren't 2 separate prices to buy something, you have to make the conversion one way or the other.

There was a time I would have thought a digital currency of some nature could take over as a global money supply but the last few years the world seems to be stepping away from globalization.

[GDR]

Digital currency may restrict the illegal use of paper money to only transactions in underground purchases or bartering, similar to prisons and cigarettes.
Paper currency will become scarce and a an offense to own, while drug lords with huge supplies of paper will do well.
This is why governments prefer digital, as it's easier to track for tax revenue. It's a slippery slope, vote accordingly.

I mostly use credit cards for most transactions, but always have cash in the pocket for whatever. Definately 2 camps out there, those who carry zero cash and those who only use cash. We bought some new furniture from lazy boy a couple years ago and used a pile of ash I had from selling something. I suggested to the guy that he likely didn't see too many guys walk in with cash. He said I would be suprised that about a third of their business is still cash.

[AlbertaFarmer5]

There was a time I would have thought a digital currency of some nature could take over as a global money supply but the last few years the world seems to be stepping away from globalization.

And I think, that might be exactly why the digital currency will be pushed. Has globalization comes to an end, and there becomes no viable alternative to the US dollar, will the rest of the world attempt to push their crypto alternative to break the hegemony of the US dollar? And the fact that they will be desperately short of USD to partake in whatever is left of global trade?

[wrongway]

cashless society will all be fun and games with another Carrington event...