Central Bank Digital Currency

The risks associated with a CBDC are endless because government’s authority will grow stronger.  It is all about control.

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…..So they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name.  Revelations 13:17

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FACT

AT SOME POINT IN TIME, DATE TO BE DETERMINED, ALL THE COINS AND CURRENCY IN CIRCULATION WILL HAVE TO BE SURRENDERED TO THE GOVERNMENT AND EXCHANGED FOR DIGITAL ONLY CURRENCY.  ANY PAPER MONEY OR COINAGE NOT EXCHANGED BY THAT DATE WILL BE WORTHLESS AND NOT SPENDABLE IN COMMERCE.  IT WILL BE JUST SO MUCH SCRAP PAPER AND JUNK METAL.

“WE ARE YOUR GOVERNMENT AND ARE HERE TO HELP YOU”

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A WHIMSICAL AND EVEN CYNICAL LOOK AT WHAT WE CAN EXPECT FROM OUR LORDS IN WASHINGTON IN A REAL WORLD COMING EVENT

We are being told that we are within perhaps months of our government converting most of us (ruling class excepted)  to a digital currency and cashless society.  All of us would have an individual digitized sort of “pre-paid” “debit” card.  At some point in the future it is planned that you will no longer need to carry a card, your number could simply be implanted by tattoo in your forehead. 

Digital currency is already being launched in Europe and will likely be implemented here in the U.S. in a similar way.  In at least one country it is being introduced with transactions above $1,000 being allowed only with digital “currency” during the initial phase.  No cash, no checks, no paper currency, no magic beans, no IOU’s, zero, zip, nada.  Only digital transactions.  During the introductory period “regular” cash, checks and credit card transactions will be permitted for transactions of less than $1,ooo.

HERE IS WHAT WE IN THE UNITED STATES CAN EXPECT

First: A Government announcement which will sound something like this: 

Your government has put together a carefully selected diverse committee to implement a transition and evolution from a tired and failing system of coins, currency and checking accounts to an equitable and inclusive 21st Century method of handling all your financial needs. 

This committee was comprised of carefully selected and  trained experts in financial management in a Diverse, Equity and Inclusive environment and whose members had previously honed their financial skills at the Silicon Valley Bank in California.  Heading up this committee was the Vice President of the United States, Kamala Harris, to share her own skills, expertise and articulate style to fine tune the conversion plan.  

Also joining the committee were members of the Treasury Department and Federal Reserve to share their expertise in proper money discipline and management with their years of experience in managing and growing the nations 31+Trillion Dollar Debt.  A further addition to the team was  Congress person Alexandria Ocasio Cortez with her degree in Math and Finance.  One of the committee members was overheard welcoming “AOC” to the committee, adding something about a fish needing a bicycle.

In her opening statement to the committee Vice President Harris stated that it was her intent to lead them as they plan their work and work a plan and then implement the plan to work with the American people on a financial plan in a planned way that will work for them as they plan their financial futures.  Also something about a yellow school bus and craters on the moon but not all of it was caught in the recording.  The Vice President also shared with them her personal six ‘P’ guide for success: 

“People Planned Plans Provide Plan Performance” 

Rollout of the approved plan is expected as soon as the Committee’s chosen Digital Currency Czar and Administrator, former Congress person “Fast Freddy Finegold” is released from prison on his conviction for Racketeering and Credit Card Fraud.

Second:  Expect Government to roll out a carefully crafted introduction to sell you on this new Digital Currency by pointing out all the benefits of the plan.  For example; you will no longer need to plan your own finances, handle filthy currency, write checks or even make sometimes difficult buying decisions.  Since all of your information, supplied by metadata algorithms from Google, including medical history, past purchase records, food preferences, etc. etc. will be stored on your new digital money card.   A no name, faceless bureaucrat in a cubicle in Washington D.C. or perhaps an A.I. Robot, will be able to “help you” discipline your spending with a few keystrokes by activating or deactivating your digital currency for certain items.  Limit or prohibit your purchase of gasoline for your car for example. They/it can even allow you to purchase only certain WOKE approved products from certified WOKE approved companies.  This will make your shopping decisions much easier.  Feeling better already aren’t you!

Third: Expect the government to extol the potential crime reduction possibilities by making it more difficult to engage in criminal activities.  In concept, if you do not have any cash available, your street corner seller of illegal drugs is not going to sell to you.  However, not to worry, the criminal element will always find a way around any laws.  Your local dealer might not be able to sell you Crack Cocaine but he can sell you a bag of dried fish or whatever (wink – wink).  The same with all other criminal endeavors.  You don’t really think the drug cartels, organized crime or disorganized crime will simply go out of business do you?  Remember Prohibition?

Finally, take comfort in the fact that the Committee had the complete plan and all its details declared “Top Secret” and the “Eyes Only” Document securely placed in a half empty case of “Bud Light” stored on a shelf behind President Biden’s Corvette in his Delaware residence garage.  Further security is provided by a $4 Chinese combination padlock on the garage door with only the President, his son Hunter and one un-named business associate having the combination to the padlock.  That should do it.

“The Plan” of course excludes the Ruling Class. Their “Digital Currency Cards” will have no spending limits, no “disciplined” bureaucratic monitoring, no tracking of what they buy,  just unlimited buying power without explanations or consequences.  

What could possibly go wrong.  Your Government at work.

Bob Bandy – April 2023

SILICON VALLEY BANK

R.I.W.P.

(Rest In WOKE Peace)

To steal an old saying:

Giving Tens of Billions of Dollars to a bunch of WOKE Bankers

is like giving whiskey and your new car keys to a teenager.

The collapse of the Silicon Valley Bank has created some level of chaos in the Financial Markets.  I am no expert on banking and my own experience over the years has been that my own bank is not my friend and the most I can hope for is that they would keep my meager savings safe from robbers. 

We are told now that those who had money in Silicon Valley Bank will be reimbursed by the Federal Reserve even if their deposits exceeded FDIC Insurance limits.  The fact that many of these depositors were heavy Democratic Donors and had Millions of Dollars on deposit at SVP is, I am sure, a coincidence and had nothing to do with Joe Biden’s decision.  Our President has said this will happen without impacting taxpayers.  This is code speak to say the Federal Reserve with some smoke and mirrors will fire up the printing presses and simply print the Billions of Dollars to cover the losses of the banks failures.

It is widely reported in the media that the Silicon Valley Bank was proudly WOKE and practiced “Diversity – Equity – Inclusion” as a corporate theme.  I believe their resultant failure is what happens if you let your political and social agenda take priority over a sound business agenda.  Gets me to thinking……..

A new baseball season is starting and teams are forming.

Manager number one calls in his recruiters and scouts and gives them the following instructions:   Go find me players who want to play on a winning team.  Players who are focused on being the best and work hard at it for the good of the team and their fans.   We want players who can excite the crowd with their excellence on the field that will bring the fans back game after game wanting more.  I don’t care what color they are, what their nationality is, what their religion is, what they do in their free time, what their politics are or their sexual orientation.  Keep all that off the field.  Whether we are at practice or in a game we are a team and play as a team with a common goal.  Never lose sight of the fact that we are on that field to play Baseball, not make political statements.

Manager number two calls in his recruiters and scouts and gives them the following instructions: This is the 21st Century and we want to build a team that “looks like America”.  Find players who are an obvious cross section of our Diversity – Equity – Inclusion goals.  Recruit equal numbers of  Black, Brown and White players and be sure to include a token Asian.  We want to show fans a cross section of Transgender, Gay, and physical diversity.  At the end of each inning have the players rotate to new positions so they get the full benefit of “Inclusiveness”. All practice sessions will include Critical Race Theory training as well as Gender Options Studies and, of course, lessons in Diversity, Equity and Inclusiveness.  We want players who are socially involved.  Players will be excused from practice to attend important events such as “Climate Change”, Black Lives Matter and similar rally’s.   Players should be encouraged to promote their “Diversity” on and off the field and especially when interfacing with the media.  Players need to understand that it’s not important whether we win or lose a game.  Our goal is to showcase “Diversity – Equity – Inclusion” to educate fans attending the game.

Which team do you think has the best chance to win a championship?

Now apply these same principles to our Military and other public service where real teamwork and common goals are critical.  If your first priority is having a WOKE agenda of Diversity – Equity – Inclusiveness what you end up with is what we in the military used to call a group of monkeys playing football. 

Are you scared yet.

Bob Bandy – March 2023 

The Toronto Star

“WINK – WINK”

A MAN ASKS HIS FRIEND: “HAVE YOU BEEN SLEEPING WITH MY WIFE?”

HIS FRIEND ANSWERS: “NOT A WINK”

The one thing in this world that is often more damaging than an outright lie is a partial truth which is in reality a lie covered with the lipstick of a misleading truth.  For example: Our President recently said that illegal border crossings had decreased by 97 percent from three countries.  What he did not say was that illegal border crossings from the other 101 countries invading our southern border had actually increased. 

But, he is not alone.  Politicians, Advertisers, Attorneys and many others in our human race do the same thing.  Sometimes it is to get you to buy their product.  Sometimes it is to escape punishment for a misdeed.  Sometimes it is simply intended to misdirect your attention just as a magician gets you to focus on the shiny object in his right hand while his left hand picks your pocket.

With politicians it has become a true “Art Form”.   Politicians send  spokespersons out with a line like:  “Senator Foghorn” is aware of the tax burden you are suffering from and has his team working on a solution to hold down your taxes by having those greedy rich corporations pay their “fair share”.   Senator Foghorn is fully aware that corporations don’t pay taxes…..  their customers do.  If you raise corporate taxes the corporation must raise the price on the shampoo they sell to pay the taxes.  Ultimately the customer pays those taxes in the form of higher prices.

Advertisers do much the same thing with “weasel words” in their ads.  Phrases like “Big Beefy Taste” (no Beef) or “Chocolatey” (no chocolate).

A good example of a government “spin” is the 2022 Inflation Reduction Act.  The name of the act is itself a “spin” because it will not only not reduce inflation, it will cost 20 Billion Dollars in new taxes and will actually increase inflation. 

A SPIN CITY NARRATIVE

Conrad Blowhard is the Mayor of Spin City, California.  His city has become infested with homeless encampments and vagrants numbering in the thousands.  To some this would seem a problem but Mayor Blowhard sees an opportunity.  

He will convince his City Council that in an effort to help the homeless and decrease their numbers on the cities streets and alleys he would like them to pass a funding bill in the amount of 80 Million Dollars with the proceeds dedicated to renovating a dilapidated, nearly abandoned hotel down on “Skid Row” and convert it’s 80 rooms into housing for the homeless.  The City Council passes the funding request and pats themselves on the back for “caring” about the homeless.

Closed bidding contracts are let out to major contractors who are supporters and donors to the Mayor for the work to be done.  A ceremonial event is held at the Foggy Bottom Hotel with the Mayor swinging a sledge hammer through a faded door of a shoddy 200 square foot room in front of live television cameras.  Everybody applauds.

Work begins.  Some effort is made to rid the building of most of the rats, termites and other vermin which infest it.  The leaking roof is patched.  Contractors workers “freshen up” the rooms with new paint, carpet, updated (cheap) fixtures from China and new window coverings.  Cost per room innovated is $400,000.  In addition, the hotel gets a new name:  “NEW BEGINNING’S” and a single fresh coat of exterior paint. 

Grand Opening Day arrives.  Brass Bands and Ribbon Cutting.  Mayor Blowhard and City Council members make grandiose speeches about how they have solved the cities Homeless Crisis.  A few ragged homeless people are seen entering the building to take occupancy of their renovated 200 square foot “apartments”.

The Mayor’s handpicked contractors, sub-contractors and suppliers go out and spend their profits on new boats, sports cars and luxury vacations but not forgetting to “tithe” back some of those profits to the Majors campaign re-election coffers.

The 80 “new” tenants of the once dilapidated hotel settle in and begin the task of de-renovation on the hotel to turn it back into a Skid Row Manor.  

The whole process is “spun” as a huge success and praise and credit is layered on all who participated in the project.  What could possibly go wrong.  Housing was provided, at least temporarily, for 80 homeless people for only 80 Million Dollars.  “WINK – WINK”.

Bob Bandy – March 2023

P.S. I would like to give inspirational credit to Michael J. Fox and his long ago television series “Spin City”.

In the news last week it was announced that not one student

in any school in Baltimore was proficient at grade level math.

Reminds me of the United States Congress

Back in February 2011 I wrote an article, which I intended to be humorous, about a plan to destroy the U.S. economy and impoverish we citizens.  At that time, just 12 short years ago, the National Debt stood at 14.1 Trillion Dollars.  Today our Nations Debt stands at 31.5 Trillion Dollars.  We have added 17.4 Trillion Dollars to the debt we will be leaving our children and grandchildren in those 12 years.   

Just announced, The Congressional Budget office projects a National Debt of 52 Trillion Dollars by 2033.

It seems Congress used my instructions as a blueprint for action and unfortunately what I wrote as a spoof is happening.  Sorry!

This is what I wrote in that article back in 2011

“If  I wanted to destroy the United States economy and impoverish its citizens here is what I would do in five steps:

Step 1.  I would seek out and recruit incompetent people to infiltrate and take charge of our government.  Next, I would split them into two groups, which I will call, lets see, how about “Congress” and “Administration”.  The folks chosen  need not be co-conspirators,  just big spenders with big egos and no common sense.  All of these folks would be given unlimited borrowing and spending  power and the bills would be sent to the taxpayers.

Step 2.  I would have laws and regulations passed to make it nearly impossible for any individual or company to drill, mine, extract or in any way acquire any of the natural resources we need as a nation, within the physical boundaries or territorial waters of the United States.  All such needed materials would be required to be imported, preferably from countries not friendly to us.  This would be done in the name of protecting the environment.

Step 3.  I would have the government pass laws and regulations to punish hard work and financial success either by individuals or companies with a combination of regulations, fees and  confiscatory taxes.    For whatever “profits” were left over after the fees and taxes were paid I would unleash packs of morally bankrupt, ravenous Trial Lawyers to file endless lawsuits and litigation.   This would encourage any individual or company to move production (and jobs) out of the U.S. to places with more friendly environments to manufacturing and employers.

Step 4.  I would have “my” government reward laziness, incompetence and failure with government handouts, grants, promotions, do nothing projects and various “freebies”.  These same people could later be hired into government “make work  jobs” in a variety of government agencies and departments  where nothing useful or productive is accomplished or expected.   That way they could continue to get paid for producing nothing and retire to fat lifetime pensions and benefits .  They would fit right in.

Step 5.  I would make sure the government kept increasing the national debt to the point that even paying the interest on the debt became impossible.  They could then destroy any remaining wealth in the country by hyper-inflating the currency,  just as Germany did following World War I.   In Germany at that time it got to the point that it took a wheelbarrow full of money to buy a loaf of bread.  For a more recent example one need only look to Zimbabwe where inflation reached 79600000000% per month in just the last couple of years.” 

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As a reference point, if “we” pay 5% interest (less than our current rate of inflation) on “our” debt of 31.5 Trillion Dollars the interest cost for 2023 would be 1.575 Trillion Dollars.  The United States Federal budget for 2023 is 1.582 Trillion Dollars – This is the “so called” discretionary Budget as the rest of Federal spending is on “auto pilot”.  The expected “shortfall” deficit in this budget is 1.4 Trillion Dollars which will have to be either covered with the printing press or added to the deficit.  There is not enough Dollars in this Federal Budget to even pay the interest on the debt at todays interest rates.  There would also be no money for any of the other things our government does.  Soooooooo…..  what will the government do.  They will, with some smoke and mirrors, continue to run up the debt and print money which will cause inflation.  Inflation is a tax that affects all of us.  We are experiencing inflation now; have you been grocery shopping lately?  Buckle up!

And to those who say we can pay for it all if we just tax the rich more:  If you taxed all the “rich” at 100%, and you could do it only once, after that there would be no more rich to tax and, it would not begin to fund our governments spending for more than a couple of months.  Then what?

I can lay out a 5 Step plan to turn the corner on the exploding debt and put us on a disciplined plan to fiscal recovery but will absolutely guarantee that those in our government will never put such a plan to work.  Government lacks the desire, the will or the discipline to do what would be required.  They would prefer to “saddle” our children, grandchildren and great grandchildren with crushing inflation and fiscal ruin.

Like most everyone else I prefer an optimistic outlook but fiscal mathematics and debt are like gravity, which does not care what my or your preferences are. 

As I follow the daily news I am thinking the wheels may be starting to come off the wagon.

Bob Bandy – February 2023 

IN THE NEWS:  GOVERNMENT HAS RUN OUT OF BORROWING AUTHORITY

AND NEEDS TO RAISE THE DEBT CEILING – AGAIN

OUR GOVERNMENT REMINDS ME OF A POORLY RUN CRIMINAL ENTERPRISE

With the nations debt having surpassed 31.5 Trillion Dollars the Administration is demanding that Congress raise the debt ceiling “again”.  Like demanding that VISA raise the limit on your credit card after your interest payments on your current VISA balance exceed your ability to pay even the interest on the debt you already have.  Similarly, government is unable to pay current interest rates on the nations debt and uses “smoke and mirrors” to say they are paying a reduced rate.

Looking at our 2023 current annual Federal Budget shows that 23 percent of the $1.7 Trillion Dollar budget is going to pay Social Security Benefits.  That’s $391 Billion Dollars.  But wait……  Social Security was founded as a sort of IRA (Individual Retirement Account) funded by your working career payments, along with employer contributions into a Government “protected” Trust Account which would earn interest over the years and provide you with an income on retirement.  So what happened?

Nearly Four Years Ago I Wrote The Following Article 

True Then – True Now

SOCIAL (IN)SECURITY PONZI SCHEME

GIVING YOUR MONEY TO CONGRESS TO INVEST

IS LIKE GIVING WHISKEY AND CAR KEYS TO A TEENAGER

When I was young and gullible I once believed the Social Security Administration maintained an investment account in my name into which they put my, and my employers Social Security contributions and then added interest during my working career.

This was the BIG LIE we were all led to believe.

What was really happening was all this money was being stolen by Congress to spend as they saw fit and they were replacing the money in the Social Security “Ledger” with worthless I.O.U.’s to be paid out on a supposedly “Pay As You Go” basis from “future” anticipated revenues.  This is the textbook definition of a Ponzi Scheme which they would put us in jail for if we put in practice on others.

The system is structurally Bankrupt and “benefits” (more later) are being paid through a “smoke and mirrors” accounting trick using borrowed deficit spending.  

Instead of an “investment account” maintained in our name, Congress now calls the Social Security “payback” an Entitlement Program as if it was like a Welfare Program.

HEY CONGRESS!  This was money taken out of our checks, at gunpoint when needed, and put into an account supposedly in our name and into which an equal share was paid by our employers – money they could have given to us in salary if it was not being confiscated by the Federal Government.

It is not like these elected “Clowns, Criminals and Lunatics” don’t know what an Actuarial Table is.  They do.  But, they would prefer to treat us all as if we are stupid and not aware of their little “slight of hand” maneuvers with OUR money.

At the present time the Government withholds (confiscates) 6.2% of your gross paycheck for Social Security AND your employer pays to them an additional amount equal to 6.2% of your gross pay.  There are some “thresholds” (upper and lower) on this but for the vast majority of us these numbers apply.  Don’t forget that if your employer was not required to pay this to the Government, they could give it to you in salary.  That totals 12.4%.

Just for fun I took an Actuarial Table (readily available on line – Google) and did a sample based on an average 40 year working career – that is like going to work at 25 years old and retiring at 65 years old.  Some folks make more and some folks make less but for this example I assumed an average annual salary of $50,000 with no increases over the 40 year period.  That would be an average monthly income of $4,166 (and some change).  12.4% of  $4,166 is $516 (rounded down).  If you “plug in” $516 into the Actuarial Table for the first month and then add that amount to your account monthly over a 40 year period  at 4% interest (chump change to a competent Investment Firm) you will end up at the end of your 40 year period with…..  are you ready….. $614,474.00  

But don’t trust me.  Run you own numbers.  At 5% interest that number jumps  to $794,504.00.

You could easily live out the rest of your years when you retire with a nice income and leave the rest to your family or favorite charity.

HELLO CONGRESS!  Where’s my money.

Something to think about.

Bob Bandy – Right Again 🙂 January 2023

one of my better days

THIS IS NOT MY USUAL POSTING

I have posted more than 200 articles over the last 13+ years on many subjects.  Obviously some are better than others and on those articles, where comments were or are allowed, I get a variety of comments and feedback.  Sheer volume of comments keeps me from reading all of them.  I normally gravitate to the shorter “pithy” ones.  Some of my better (in my mind) receive few, and sometimes, no comments.  Others amaze me with the numbers I receive. For example one article I wrote 2 1/2 years ago will today still receive sometimes 30-50 comments in a single day (one day I received 73) and I have received thousands of comments since publishing it.  Keeping in mind that articles are often shared, reposted on other sites, etc. that is an amazing number of comments on a 30 month old article.  

In the left column of the home page there is a “Search For Articles” box.  The Search Box is not case sensitive. You can simply type in a title, a subject or even a key word and then click enter on your keyboard and the search feature will bring up an article or articles on that subject.  For example if you type  Clinton  in the search box it will bring up any and all articles regarding the Clinton Crime Duo.  

Since beginning my writings many thousands of readers have either subscribed or follow my meandering on a Bookmark, RSS Feed or other means.  Trying to find all of my articles – including the not-so-good ones – on a Back – Back – Back basis at the bottom of each page can be a time consuming task. 

Consider the following an exercise in using the “Search” feature.  To repeat the above, just pick a title from the following list, type it, or copy and paste it, from the list in the Search For Articles box and press enter on your keyboard.  The list is purposefully in no particular order and represents an effort to sample some of what I deem better pieces I have written based on either reader feedback or my own judgement.  You are encouraged and free to enjoy or reject them, share them, save them, print them or whatever your choose.  You might even want to print this page/list out  and use it as a checklist in your own “quest for the best”.  For your reading entertainment. 

HAVE FUN:  

Pick a title and type (or copy and paste) into the Search For Articles box

The Nearly Perfect Nation Of Bob – Kingdom of the Locust – Momma Tried – Gender Studies – Critical Bob Theory Boundaries – The Drums of Equity – Go To Your Room And Stay There – Junk Science Ala Carte – The Great Green Race II – You Can’t Make This Stuff Up – Fair Share Taxes and Global Climate Change – Erasing History – Equity Policies and Guaranteed Outcomes – What is a Fair Share – California High Speed Rail 2.0 – The Borg Initiative – The Garden – Oximorons Non Taxpaying Taxpayers – Two Graves – Survival in an Idiocracy – Storage Wars and Government – Clipboard Freedom – Paperwork Reduction – The Social Security Ponzi Scheme – Tipping Point – A Journey to the Dark Side – Was Is Will Always Be – Fixing Income Inequality – Bring On The Clowns – Mark of the Beast – Third Grade Math Party – Vote For Me – Pull The Plug – Protecting The Most Vulnerable – Little Red Hen Oil Company – Boiling The Frog

Don’t forget you can also experiment with a search word of your own choosing, like Frog or Barbarian or ?????

Have Fun and hope some of these articles make you think, whether you agree with my thoughts or not.  My goal has always been to stir thought, not agreement.  I’m not with the Kool Aid drinking crowd.  I am also “WOKE” Free and proud of it.

Bob Bandy – November 2022