dollar recallIs there any truth to this? What should I do?
email dated today (7/12/23) from “Emma Hayes from TEE
Dear Reader,
If you have any U.S. dollars in your bank account…
You must see this shocking video exposing the government’s new plan to recall the U.S. dollar.
The official announcement could come as soon as July 26.
As Business Insider says, this dollar recall “could be imminent.”
That means if you don’t prepare now…
You could end up holding a bunch of worthless U.S. dollars.
Click here to see the three simple steps you must take now to protect your life savings.
Regards,
Kendall Castillo
Managing Editor, Palm Beach Letter
This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.
Frantic fear-mongering about the expected launch of FedNow. Which is an interbank money transfer system that should reduce the cost and time required to move money, but have effectively no impact on the value of the dollar. The fear stirred up by these ads is that FedNow perhaps paves the way for an official digital dollar, often called FedCoin, which could be tested as soon as next year sometime, and theoretically could eventually reduce financial privacy.
As far as “what to do,” all I can tell you is that I’m not doing anything different because of the pending FedNow system, and don’t have any particular plans to do anything different if a FedCoin is launched. I’ll keep an eye on it, but the massive hype about the fear of a “dollar recall” just seems silly.
Teeka is also pitching a $0.25 stock. Any thoughts on what that could be :
Report #3. The $0.25 Moonshot: How to Make a Fortune with CBDCs
The third report goes into detail about blockchain technology. Teeka has discovered an investment that is trading for less than $0.25 and would gain direct exposure to the blockchain technology that was created for central bank digital currency. Unfortunately, at the time of writing, this was all that had been revealed.
Get a clue, a “programed” digital dollar combined with AI will allow Big Brother to track your EVERY move. You will no longer have any privacy and it will eventually lead to a SOCIAL CREDIT SCORE much like they have in China. Violate too many of Brother’s rules and standards and your “dollar” will be programmed to NOT allow you to do certain things that you take for granted today. Travel? No, you were bad. Food? No, you’ve eaten too much _____. A new ICE car. No, too polluting. Etc., etc., etc. Digital dollar and AI will be the death of America.
That is certainly the “fear” message, well summarized. Maybe you and Jim Rickards and the rest will be right about that someday, I certainly don’t like the general loss of financial privacy (or privacy in general), I just think this is much more about a marketing pitch than it is about what will happen in the US in the foreseeable future.
More importantly, perhaps, I think it’s mostly a fear marketing pitch that has nothing to do with folks investing for their retirement. I’m happy to hold a little gold and bitcoin and such, and I do pay attention to the steady decline of the dollar, but these kinds of ads sometimes gin people up into “survivalist” panic, sending people to hide their cash in the back yard or put their whole retirement fund into gold coins (with high prices and high management costs), and those kinds of things aren’t likely to do anyone any good in the long term.
That’s just what I think, perhaps I’m jaded from reading similar bogeyman stories for 15-20 years. I don’t think there’s any meaningful way to “win” by being worried about this particular risk right now, there’s no real low-cost way to be prepared for a theoretical reduction in financial privacy in the future without taking other risks that I don’t want to take, and without facing a substantial opportunity cost. I don’t mind debating the possibility, and I see some risk, but I don’t see a way to hedge that risk in a useful way… and I am not worried enough about the risk to take on meaningful costs, including the cost of missed opportunities, to try to prepare.
To add: Here is what he says at
https://secure.palmbeachgroup.com/?cid=MKT744941&eid=MKT746760&channel=017IIIS&aff_click_id=017IIIS&tid=1029d0075343f9d80a03c7c9cd1329&oid=315&assetId=AST304695&page=2
The $0.25 Moonshot: How to Make a Fortune with CBDCs
An exciting new blockchain investment that’s trading under $0.25.
I found a smaller, little-known stock that I believe has much more upside potential.
It’s a company you’ve probably never heard of.
But it’s working directly with central banks around the world to help them launch their digital currencies.
This company already helped our central bank develop its real-time payments network called FedNow.
Maybe you’ve heard about it.
But that’s basically the infrastructure that would be required for a future transition to a U.S. digital dollar.
That’s why FedNow has been called “A Trojan Horse for CBDCs.”
That’s why the world’s largest asset manager BlackRock already invested $3.3 billion in this company.
Vanguard, another Wall Street giant, has invested more than $3 billion.
And Bank of America has invested more than $500 million in this single stock.
I smell a rat. I suspect a lot of the “Gold Bugs” and crypto folks are behind this panic- inducing movement.
This digital idea to make transfers quicker between banks is not necessary and we can all be just fine without it. I think many of the problems we’re creating today come from restless programmers who need to justify their positions and create new “problems” so they can solve them. Anything that is digital and dependent on the Internet is subject to hacking and reminds me of the movement to pay your bills “securely on line.” Really? How many hacks have businesses and government had in the last month? The more we’re involved in the digital world and more that we’re dependent on computers, the less secure we become.
Thank you, I hate even having to THINK about money and since my husband passed, I find that I MUST! Travis I like your clarity.