Editor’s Note: Today, we’re sharing an insight from colleague and cryptocurrency expert Teeka Tiwari. As Teeka says, a new “digital dollar” could be imminent. And there are a few steps you can take today to prepare. Read on…
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Throughout history, the Olympics have been a launching pad for human achievement and advancement.
But recently that changed, as the Olympics were co-opted by a government as a testing ground for the scariest application of a technology I’ve ever seen.
More on that in a moment. (And no, I’m not talking about artificial intelligence.)
There was a time when the Olympics were about moving humanity forward, such as in 1900, when the first female athletes participated in the Paris Olympics.
And then in 1936, when Black American sprinter Jesse Owens broke records and won several gold medals at the Berlin Olympics – shattering Adolf Hitler’s dream to turn the Games into an example of his “new Aryan man.”
In 2008, we saw American swimmer Michael Phelps stun the world with his superhuman, record-breaking eight gold medals at the Beijing Summer Games.
But that all changed in the 2022 Beijing Winter Olympics. The 2022 Games may go down in history as the most consequential…
Not because of sporting achievements, but instead for a brand-new technology that would foreshadow the single biggest global power grab governments have ever attempted against their populations.
It’s a plan so insidious that many around the world are convinced it’ll make their life better, easier, and more comfortable.
Nothing could be further from the truth.
I’ve never seen so many so people compliant to the erosion of their financial privacy as I’m seeing now.
But I’m getting ahead of myself… Let’s bring it back to what happened at the 2022 Beijing Winter Olympics.
By way of background, in 1986 the International Olympic Committee signed an agreement with Visa. That made it the exclusive payment provider at the Summer and Winter Games.
If you attended the Olympics over the last 36 years and needed to pay for anything at the venues with a credit card – or wanted to buy tickets or merchandise online – Visa was the only way to go outside of cash.
That all changed at the 2022 Beijing Winter Olympics.
That’s when the Chinese government challenged Visa’s monopoly by offering its own payment option: the digital yuan (also called the e-CNY).
Anyone who lived or worked at the Olympic Village in Beijing now had three payment options: Visa, cash, or the e-CNY.
Since the rollout of the digital yuan at the 2022 Beijing Olympics, China has gone on a full-court press to make the digital yuan the nation’s preferred currency.
And it’s offering plenty of incentives to citizens to achieve that goal.
For instance, the government offered digital cash subsidies to residents of the city of Xiong’an to help pay for food, electronics, and appliances during the pandemic.
Today, over 140 million users have registered for e-CNY accounts, which they can access through a smartphone app, according to the Chinese government.
That’s more than 10% of China’s population adopting the digital yuan in just eight months.
China’s rollout of the e-CNY at the 2022 Olympics provided a blueprint for other countries that want to launch their own central bank digital currencies (CBDCs).
That’s why I want you to beware…
As soon as July 26, your financial freedom as you know it could end. That’s the day the U.S. government is scheduled to launch FedNow.
In my view, FedNow will be the biggest change in the U.S. monetary system since the country went off the gold standard in 1971.
To be clear, FedNow isn’t a CBDC like China’s digital yuan – at least not yet. Instead, it’s a new payment network the Federal Reserve will launch this month.
Its biggest selling point is that it’ll speed up transaction settlement times.
So rather than taking days to find out whether a check clears, it’ll happen instantly. And users can send and receive payments in real time, 24/7, every day of the year.
Visualizing the FedNow System
Source: FedNow
Besides the fast transaction settlement time, FedNow offers greater simplicity and security.
That avoids issues such as malicious actors… other bank fees and charges such as transfer fees… and it significantly reduces the costs of transactions by having FedNow act as the go-between for banks.
Sounds awesome, right?
And it would be if a private company motivated by profit provided the service rather than a government furthering a political and social agenda.
What do I mean by that? Well, think about it logically.
This present government is wholly focused on the adoption of so-called “green” energy. (What does that actually mean?)
With a digital dollar, it could decide to automatically roll out a “green tax” on gasoline-powered cars.
Think about how heavy-handed the government could get with gun control.
It could lock your money from legal gun purchases by saying, “No, sorry, you’ve exceeded the federal limit on how many guns we think you should own.”
Think about how easy it’ll be to “kill off” political rivals when you can call someone un-American and cut off all their political funding?
If you think this sounds far-fetched, I urge you to look around at the America we live in today. If I told you 30 years ago what America would be promoting today as “normal behavior,” would you have believed me?
Friends, the America we knew 30 years ago is gone. And if we’re not careful, the wealth we’ve worked so hard for will no longer be ours to spend how we wish.
This is why you need to pay attention to FedNow: It creates the infrastructure needed to launch a digital dollar, or CBDC.
A CBDC is a digital version of fiat money. It’s issued by a central bank using blockchain technology.
The difference between a CBDC and a digital currency like bitcoin is the former uses a centrally controlled blockchain… whereas bitcoin uses a decentralized blockchain that no single person controls.
The other key difference is there’s no cap on how much fiat currency a government can issue. Bitcoin has a hard cap of 21 million tokens.
A blockchain is simply a digital ledger that records transactions and tracks assets.
A centrally controlled blockchain places restrictions on who’s allowed on the network. Users need permission to join. That’s why they’re referred to as “permissioned.”
(Basically, you need to be a member of the financial ruling elite to have a seat at the table.)
A “permissionless” blockchain like bitcoin is a public network available to everyone to participate and validate the data.
As I’ve been telling my readers, I won’t be surprised if the U.S. government offered incentives for people to adopt a digital dollar network… just like China did for the digital yuan.
If we learned anything from the pandemic, it’s that the public loves free money. People will trade their freedom for pizza and a free month of Netflix, and not even think twice about it.
I can’t do anything for those people…
But for you – someone who cares about their financial freedom – I can offer you a way out so you not only survive this attack against your financial liberty… You’ll also be in a position to grow richer from the folly of others.
Friends, hear me when I tell you this: CBDCs will be the money of the future. More than 100 countries are exploring their use or already using them.
They’re unavoidable. None of us can stop what’s going to happen. But we don’t need to be victimized by it.
Regardless of the benefits of a digital dollar, it’s a massive threat to your financial privacy.
I believe the simplest and most effective ways to opt out of this digital dollar is to buy bitcoin and gold.
Yes, I know I sound like a broken record to those of you familiar with my work. It doesn’t change the fact that there are very few lifeboats in this new digital dollar world.
In my opinion, bitcoin is the best one. For those of you who prefer your hard money to be more tangible… Then by all means buy gold.
But bitcoin will significantly outperform gold.
The beauty of bitcoin is you hold it. Nobody can take it from you. If you self-custody your bitcoin, no one can charge you any fees on it. So you’re essentially your own bank.
Hear me when I tell you this: The hard money alternative of the next generation is bitcoin, not gold.
So if you must buy gold, I urge you to overallocate to bitcoin and underallocate to gold.
Remember, all great change brings great profit opportunity, too. This seismic shift to a digital dollar is no different.
There are multiple ways for you to profit from the potential rollout of the digital dollar. That is why I’ve put together a new playbook to show you how.
In it, you’ll learn:
Step-by-step instructions to securely buy and store your bitcoin.
The name of a company set to profit from the digital dollar trend.
The name of a crypto project also set to profit from this trend.
And a secret way to 10x your money on gold.
Let the Game Come to You!
Big T
The Bleeding Edge is the only free newsletter that delivers daily insights and information from the high-tech world as well as topics and trends relevant to investments.
The Bleeding Edge is the only free newsletter that delivers daily insights and information from the high-tech world as well as topics and trends relevant to investments.
