All European Government Crypto: A New Way To Steal From You

I want to talk about government crypto currencies and I've subtitled this a new way for the government to steal from you another example of Big Brother if you're interested in learning

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How the economy and the stock market actually work and had a profit during these really unusual times so what's the government crypto it's also the the formal name is a central bank digital currency and what it is it's the digital form of fiat money fiat money is just money that's not backed by any hard assets the US dollar used to be backed by gold you could actually redeem it for gold now it's just pieces of paper or it's zeros and ones on your computer if you're in in to meme culture or Twitter you'll often hurt here central bank digital currencies or government cryptos refer to as Fed coins as in the Federal Reserve

Now this is no longer just a speculation this is something that's definitely coming and I'm going to show you in this blog why it's coming and how you can protect yourself from it China is working on their new cryptocurrency and all the other central bank's are working together central banks of Britain Japan you're a Sweden Switzerland u.s. is obviously working on it as well now why would why would a government in particular the US government want to have a government crypto well the reasons for a central bank digital currency there's some really cool things that they can do very cool and evil things so for example if you had a crypto currency as your government currency you could program taxes directly into the money because it's really money as software so you never need to file your tax returns again the government would just

when you made a purchase the government would take out sales tax when you earn some money the government would take out federal tax or state income tax and so this would really streamline things and it would enable the government to get its its hands on your money very quickly and there'd be no there'd be no more tax cheating at least at a at a surface level because the government could just harvest harvest it's taxes directly second benefit it would make it really easy to send out money to dump helicopter money on the people it looks it's looked like the government the US government had a lot of trouble getting those $1,200 checks out a couple weeks ago and this would make it really easy to send what are called ubi checks or universal basic income

It looks like the u.s. is very quickly moving towards this sort of socialist thing where they print money and distribute it to the populace in order to keep people from rioting in order to keep people who have been lost their jobs or stuck at home due to the corona virus so it would enable the collection of taxes and also the distribution of ubi universal basic income so a couple thousand dollars per family every month and I think the the third benefit it's really not a benefit for the people it's a benefit for the government would be that they would be able to program negative interest rates directly into the money now you've probably heard that in Japan and in in most of Europe in the in the euro zone people banks have negative banks offer negative interest rates so in the u.s.

you can earn maybe one percent one-and-a-half percent if you're lucky in a savings account in Germany now all of the of the government securities all the government debt and many of the the savings accounts are now negative so if we look here we can see that if we buy a German government bond to your bond we will lose about 0.8 percent every year and all the way out of the five-year bonds at 10 your bonds and the 30-year bonds they're called booms in Germany bets

They say it's the same principle they all have negative interest rates and so what this means is that if you put in a hundred dollars into one of these two year bonds a year later instead of making interest you're actually having money you're having your principal depreciated or devalued and so after one year you will just have I'm sorry that should be that should be $99.99 dollars and 20 cents so you lose about lose about 80 cents and obviously if you have millions of dollars in the bank or no matter what amount you have this could become very annoying and this is what happens when you you enter the end of a fiat currency regime and things begin to break down

you see things like negative interest rates you also see what are called bail-ins this happened in Cyprus in 2013 where if you had money in a savings account in a bank in Cyprus you they did what's actually called a bail in where they confiscated money they actually took money out of your savings account so if you had more I think it was limited to accounts over a hundred thousand euros but if you had anything above a hundred thousand euros in your Cyprus bank account all of a sudden they would just take 47% of that and just take it and would be gone and obviously you have no recourse that's why a lot of people tried to move their money off of Cyprus but this can happen it's happening in Germany with negative interest rates and it's happening in various sort of more fringe countries in terms of bail-ins or outright confiscation of savings now why is this