Opinion: We Should Expect The Fed To Launch A Digital Currency
EDITOR NOTE: Sooner or later, Congress will once again debate the issuance of a digital dollar. In light of the current stimulus discussions, digitization would allow the Federal Reserve to send money directly into the hands (or bank accounts) of Americans, among other things. Of course, this will change the face of finance and banking once it does happen--for better and worse. As a gold investor, you’re aware of the dangers that may unfold with 100% dollar digitization--namely, every ounce of purchasing power subject to monetary and fiscal whims; all access to your no-longer-private money controlled by the banking system. Digitization may be convenient and efficient, but it achieves both at the steep cost of extreme fragility. If anything, this presents a strong case for holding on to your physical gold and silver--the only sound assets that can serve as a hedge against this faulty and foolhardy notion.
The most near-term surprise I can point to is the elections, but not the top of the ticket. The Senate could flip blue. You have 22 Republican seats up for re-election, and 18 of them are from states that Donald Trump won. And some of those states have also been on their heels from Covid-19. That’s a “surprise” we should be ready for.
If...
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