Recently my wife retired, being a Self-Employed Contractor I was on her employer's health Insurance. As of a few months ago, I am no longer insured. I am too young for Medicare. I have had quotes of $500-700 monthly premiums which is outrageous IMO. Being uninsured has raised many concerns, of course.
Which got me thinking of this new currency and what I see as a possible potential future problem. Speaking of no Ins., lets say I end up in the hospital during this new Digital Currency period. A huge hospital/doctor bill comes my way, as the case with most hospitals these days. What will stop them from withdrawing the total amount from my digital account, my retirement savings, and putting me under a bridge? Actually think of any debt owed. Don't get me wrong, we pay all our bills, we have a Credit score in the 800s. But as with Hospitals/Doctors, they have Insurance Rates and Uninsurance Rates of which both are very negotiable. My scare is once the total amount is withdrawn, it leaves little if no room for negotiating the rate or payment plans.
I may be over thinking this and I hope to have some sort of Health Ins. sometime soon but I have 4 more years until Medicare.
I understand we are already in a digital banking age and this is a push is to get rid of paper/coin currency but what is different with CBDC is it is a One World Currency. I may be wrong, but I see funds transferred first then negotiate a debt settlement later. I hope I am wrong.
Which got me thinking of this new currency and what I see as a possible potential future problem. Speaking of no Ins., lets say I end up in the hospital during this new Digital Currency period. A huge hospital/doctor bill comes my way, as the case with most hospitals these days. What will stop them from withdrawing the total amount from my digital account, my retirement savings, and putting me under a bridge? Actually think of any debt owed. Don't get me wrong, we pay all our bills, we have a Credit score in the 800s. But as with Hospitals/Doctors, they have Insurance Rates and Uninsurance Rates of which both are very negotiable. My scare is once the total amount is withdrawn, it leaves little if no room for negotiating the rate or payment plans.
I may be over thinking this and I hope to have some sort of Health Ins. sometime soon but I have 4 more years until Medicare.
I understand we are already in a digital banking age and this is a push is to get rid of paper/coin currency but what is different with CBDC is it is a One World Currency. I may be wrong, but I see funds transferred first then negotiate a debt settlement later. I hope I am wrong.
I’ll identify as a illegal who just crossed the border before I take part of a central digital currency.
You can bet your life savings that not a single one of them will be part of that. There will always be options for cash (gold, silver, bitcoin etc) and barter.
You can bet your life savings that not a single one of them will be part of that. There will always be options for cash (gold, silver, bitcoin etc) and barter.
bigredfish
Known around here
It’s evil plain and simple. They will own your ass.
I was in my Bank today and the Branch Manager was very much aware of what is coming. She did not comment but nodded her head as I spoke about it to my wife in front of her. Her ears were directed towards us when I mentioned, when they convert our money to this new digital currency, what rate will we have then? If now with Inflation so high, we all would lose out in the exchange rate. Think of buying/exchanging our dollar for foreign currency. Hopefully I am wrong.
They pretty much own our asses already.
Parley
Known around here
I am not for having a cashless society. As said above, the government controls too much of our lives already.
bigredfish
Known around here
True, but with programmable money that THEY control what, how, how much, and IF you spend YOUR money.
I dont think folks really grasp how bad this can/will be
I dont think folks really grasp how bad this can/will be
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bigredfish
Known around here
Yes, but AFTER the fact.
Do you really want the “central bank” to determine your spending limits or what you can buy or how much?
Example:
The FDA determines that red meat is bad for you. You are assigned a limit of how much red meat you can buy. Exceed that limit and maybe you pay a “tax” for buying more.
www.forexlive.com
www.cointime.com
Do you really want the “central bank” to determine your spending limits or what you can buy or how much?
Example:
The FDA determines that red meat is bad for you. You are assigned a limit of how much red meat you can buy. Exceed that limit and maybe you pay a “tax” for buying more.
CBDC: Technology of the Future or Dystopia? | Forexlive
FBS analysts examine the nature of CBDCs and explain which assets may outperform because of them.
CBDCs: How Dangerous Are Central Bank Digital Currencies? | by Richard Knight | Cointime
This new form of ‘digital cash’ may pose the single greatest threat to personal liberty and freedom in our lifetime.
www.cointime.com
Its already bad now, lets find a way to spy on you, know your location at all times, take your picture and listen to your conversations without you knowing it, and YOU will love it, and you will pay for it every month.
The digital wallet is already here, we have been lulled into this like a frog boiling in a pot. Some kind of crisis will be coming soon not so far down the road, be it natural or man made but finally eliminating the reserve currency , they could say this will eliminate the cartels drug business or some kind of cyber attack drains everybody's bank account, or uncle sam's printing press runs out of Ink, who knows HOW it will go down but hey, NO Worries, the Fed Coin will save the day and people will cheer and demand it happens quick.
Its always a 'CRISIS" that leads to things like this. Remember the "Patroit Act" after 9/11...They could not get that thing started fast enough and look where it has lead us to. BAAAA BAAAA over the cliff we all go.
CCTVCam
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One of the alleged reasons they want people to go over to digital currency is it allows total population control. If you do or say anything againgst the Government, they just zero your balance or block you from making transactions. Unlike physical currency, there's nothing you can store or hide. Also, every transaction you make is recorded so there's no hiding from total scrutiny of everything you purchase whether it's legal, illegal, or legal but the Government don't like you possessing it, eg guns. They will know everything you do, everywhere you go from transaction tracking, everything you purchase, everyone you meet during involving any transfer of funds and can turn your credit on / or off in an instant. You might say they can do some of that already and that maybe true. However the manipulation of the population becomes so much stronger when the only currency is imaginary and under their total control, and they can see everything you do in life and everywhere you go.
^^^ Agreed. We have always been a proponent of having cash and gold on hand away from the scrutiny of others. It seems like this option is being removed in order to control us.
From a personal perspective, I believe this whole trend to digital currency is just a way to control as said above. You don’t get the vaccine; we’ll strip your account dry. Don’t want to turn in your guns? We’ll drain your account. Don’t vote our way or have a problem with your kids being indoctrinated at school? Well you get the picture.
The whole Covid deal helped this be put into place. I remember going into places and signs being posted everywhere; exact change or card due to coin shortage. Shortage my foot. This was just a springboard for what we are seeing today.
The whole Covid deal helped this be put into place. I remember going into places and signs being posted everywhere; exact change or card due to coin shortage. Shortage my foot. This was just a springboard for what we are seeing today.
bigredfish
Known around here
1984 was not meant as a how-to guide
Something tells me this Thread will become huge over time, stories like the Totalitarian actions that happened with COVID lockdowns, entry to schools, denying surgeries, etc. will be similar here with denial of services/merchandise/etc.
Still hope I am wrong...
Still hope I am wrong...
fenderman
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With respect to your specific concern about them pulling your assets because of the medical debt, that is unreasonable. The same thing that stops a bank from taking your cash would prevent any debtor from getting a hold of your assets without properly litigating it in the courts. The benefit of cash is that it could easily be hidden from creditors albeit at a risk of someone else stealing it or it burning in a fire, becoming useless because of inflation or burning of fire. For most people the bulk of their assets is tied up in real property or other investments that cannot easily be hidden anyways.....
As far as health insurance goes $700 a month is a great deal depending on where you live. I have an employee in her 50s whose premium is over $900 monthly. That's on a group health plan.
Wow, $900 a month, that is almost a fourth of our present monthly income. Crazy how rates have increased since Obamacare. We use to have 100% coverage Ins. no deductibles, only $20 co-pays, $40 for Specialty, yes that was available at my wife's employer. For the both of us on that group plan It cost us around $400 a month. Then we ended up with a 90/10 plan for a few years around $500 a month and about a year before my wife's retirement, a few months ago, we had an 80/20 plan at around $600 a month with a deductible of $2,000 each yearly, which was actually a very good plan when talking to others and their plans, even as you mentioned. I will say I have found without Ins. my Meds have dropped in cost. My meds are cheaper without Ins.