Digital Euro and Fed Digital Dollar Explained: How Can You Protect Yourself?

Digital Euro and Fed Digital Dollar Explained: How Can You Protect Yourself?
The plan for having a Fed Digital Dollar Account is already under way. Is it possible that the second stimulus check will be directly deposited into a Fed Digital Dollar account? How will it work and what will it mean for cash? Will this plan be able to combat deflation and bring the inflation that the Federal Reserve wants to inflate away the National Debt? Will interest rates go negative ? Is the plan to get rid of cash so that there is no where to hide when the fed implements negative interest rates? Start planning to protect yourself now with real assets like gold, silver, and real estate.
On September 24th Cleveland Fed president Loretta Mester delivered a speech to the Chicago Payment Symposium titled "Payments and the Pandemic", in which after going through the big picture boilerplate, Mester goes straight to the matter at hand.
In the section titled "Central Bank Digital Currencies", the Cleveland Fed president writes that "the experience with pandemic emergency payments has brought forward an idea that was already gaining increased attention at central banks around the world, that is, central bank digital currency (CBDC)."
"Legislation has proposed that each American have an account at the Fed in which digital dollars could be deposited, as liabilities of the Federal Reserve Banks, which could be used for emergency payments."
The European Central Bank (ECB) is also planning a digital Euro similar to the Digital Dollar. On September 22 the ECB quietly filed to trademark the term "digital euro" as disclosed by the website of the European Union Intellectual Property Office. European officials are preparing to release an assessment of the benefits and drawbacks of creating a digital version of the currency.
"The euro belongs to Europeans and our mission is to be its guardian," said ECB President Christine Lagarde.
"Europeans are increasingly turning to digital in the ways in the ways they spend, save and invest. Our role is to secure trust in money. This means making sure the euro is fit for the digital age. We should be prepared to issue a digital euro, should the need arise,"

[europeantradeunion]

Hey Nick, very interesting info. You seem to know the topic well, thanks for sharing! :-)

[moldyal]

If the Fed locked the gate, could people just switch currencies? Maybe to a crypto currency or something like the Euro, I'm just thinking about other countries where many people have rejected the local currency for foreign one, and just used the foreign (ie Venezuela)

[troyevans]

That's why I fear that UBI will cause hyperinflation.

[moldyal]

Another thought, stop imports/exports and stop sourcing labor overseas, then watch cost for everything hit the freaking roof. Life will get so blissfully expensive for all. The Fed's wet dreams will come true.