The Great Recession Blog

I was recently asked how on earth the Federal Reserve will get US citizens to convert to the purely digital currency the Fed has been talking about for a few years now. That’s a good question that I’ve dealt with a little in the past; and, since the Fed’s public rollout of its premier first step in that direction is scheduled for this July, now seems like a good time to recap all of that.

We are nearing the time in early summer when the entertainment industry rolls out its new blockbusters and flops. June is also that time when the Fed had said it will roll-out its own special feature (and likely future box-office flop) — the platform that will likely be used as part of its eventual central bank digital currency …

The experts in AI admit they know almost nothing about how the artificial intelligence they have created will go about proceeding with any designated program because it is self-programmable. It takes on a life of its own. Some developers have claimed it is already nearly godlike and reaching for divinity. Some say it cannot be stopped. Some even warn their own experiences with it demonstrate that it is sentient and malicious or evil.

Back in the distant days of black-and-white television, when you had to get up periodically in the middle of your show to turn a little knob labeled “vertical hold” or another called “horizontal hold” to stop the flippin’ picture on the tube from rolling by, a fringy show called The Outer Limits …

Since this is a long article packed with my predictions (and some near-predictions, so let’s say “high likelihoods”), you will probably want to read it in sections, which you’ll find cover my ongoing predictions about the following topics: To make it easier to get back to where you left off, I’ve made these targeted links […]

We’re on the brink of a dramatic change where we’re about to — and I’ll say this boldly — we’re about to abandon the traditional system of money, and accounting, and introduce a new one…. The new accounting is what we call “blockchain.” It means digital. It means having an almost perfect record of every […]

For years, I’ve written about the creeping approach of central bank digital currencies (CBDCs) as a replacement for coin and paper money that will give government much deeper control over you. Now the time has arrived … IN THE US. Yesterday, The Federal Reserve Bank of New York published the following notice:

This week I received a very insightful email about central bank digital currencies. I’ve written on those a lot for my Patrons, but this writer thought of dangers that will emerge from CBDCs that I had never imagined to cover, so I asked the author for permission to share her article with my own readers…

It also forced all people, great and small, rich and poor, free and slave, to receive a mark on their right hands or on their foreheads, so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name. This calls for […]

In writing almost two years ago about the Epocalypse that would envelope the world when the Everything Bubble crashed, I wrote about crypto currencies and the central bank digital currencies (CBDCs) that would rise out of the ashes like the phoenix as the central banks’ own “fiat” currencies collapsed or their economies did:

In my September Patron Post, I promised to compose an article that would bring us up to date on what the central bankers of the world have been saying about their plans, particularly with respect to digital currencies. This is that article. (I felt it more important to get out my other Patron Post this […]

In what remains the most undercovered financial topic of the year, if not century, we remind readers that starting about a year ago, central banks around the world launched an unprecedented if stealthy attempt to overhaul the entire monetary architecture of fiat money by implementing digital dollars, a transformation to a cashless society which in […]