Never thought of that?! China's Digital Yuan Comes With An Expiration Date | |
Fiestyfiddle
User ID: 79572077 United States 04/12/2021 12:26 AM Report Abusive Post Report Copyright Violation | |
Swingline
(OP) Forum Moderator User ID: 78291643 United States 04/12/2021 12:30 AM Report Abusive Post Report Copyright Violation | It's crazy to think to put an expire date on money so you spend it quicker. What the hell do you do to save for things or your retirement? I bet they are planning "END OF LIFE" centers you have to go to when you reach 60 years old... “I’m the wall that progress ran into" |
Anonymous Coward User ID: 78146241 United States 04/12/2021 01:00 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 8856824 Canada 04/12/2021 01:20 AM Report Abusive Post Report Copyright Violation | guaranteed Canada does something like that. Freeland has already said that she wants to liberate money from Canadian's savings accounts to "boost" the economy, and that she's looking for incentive plans to "encourage" Canadians to spend even when they don't want to. |
Swingline
(OP) Forum Moderator User ID: 78291643 United States 04/12/2021 09:50 AM Report Abusive Post Report Copyright Violation | guaranteed Canada does something like that. Quoting: Anonymous Coward 8856824 Freeland has already said that she wants to liberate money from Canadian's savings accounts to "boost" the economy, and that she's looking for incentive plans to "encourage" Canadians to spend even when they don't want to. This will truly make us cows in the slaughter yard. Last Edited by John Dutton on 04/12/2021 09:50 AM “I’m the wall that progress ran into" |
Anonymous Coward User ID: 80134441 Germany 04/12/2021 09:52 AM Report Abusive Post Report Copyright Violation | The money itself is programmable. Beijing has tested expiration dates to encourage users to spend it quickly, for times when the economy needs a jump start. Quoting: Swingline [link to www.zerohedge.com (secure)] China will never lead the nations as a world power. |
Anonymous Coward User ID: 79336278 United States 04/12/2021 09:59 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80195790 United Kingdom 04/12/2021 10:04 AM Report Abusive Post Report Copyright Violation | Bitcoin is a 64-character username/password combo. It's harder to guess than a credit card number, exp date, 3-digit code on back of card, zip code + name on card and address on file, but it's not currency. Quoting: Anonymous Coward 79336278 Bitcoin is a scam, naff all on main street is purchased using these digits and it's just a digital gambling chip that's worth as much as hens teeth $55 per transaction fees two years ago showed the world it's a scam so i got out with profit and will never return. |
Big Duke6
User ID: 80175738 Canada 04/12/2021 10:29 AM Report Abusive Post Report Copyright Violation | guaranteed Canada does something like that. Quoting: Anonymous Coward 8856824 Freeland has already said that she wants to liberate money from Canadian's savings accounts to "boost" the economy, and that she's looking for incentive plans to "encourage" Canadians to spend even when they don't want to. Everytime I see Freeland on the news, I'm wondering where the witch hat and broomstick is? |
Anonymous Coward User ID: 80238830 United Kingdom 04/12/2021 10:48 AM Report Abusive Post Report Copyright Violation | What about the elites money, will theirs evaporate into thin air as well, will there be restriction on their opulant living, I think not. |
Anonymous Coward User ID: 76578598 United States 04/12/2021 10:50 AM Report Abusive Post Report Copyright Violation | |
Swingline
(OP) Forum Moderator User ID: 78291643 United States 04/12/2021 12:03 PM Report Abusive Post Report Copyright Violation | The money itself is programmable. Beijing has tested expiration dates to encourage users to spend it quickly, for times when the economy needs a jump start. Quoting: Swingline [link to www.zerohedge.com (secure)] China will never lead the nations as a world power. Compare them to the U.S. and I would say yes they will be. We are caught up in petty stuff while they redevelop their country. “I’m the wall that progress ran into" |
Anonymous Coward User ID: 80236433 Ireland 04/12/2021 12:08 PM Report Abusive Post Report Copyright Violation | |
Anonymous Gembouncer User ID: 69560476 United States 04/12/2021 12:20 PM Report Abusive Post Report Copyright Violation | |
Anonymous Powder House User ID: 69560476 United States 04/12/2021 12:22 PM Report Abusive Post Report Copyright Violation | |
Anonymous Paychecch User ID: 69560476 United States 04/12/2021 12:24 PM Report Abusive Post Report Copyright Violation | However, on the rails he has set in that fine thread, I would say that all marxist bonehead nations like china and russia and cuba, etc, all try to understand money, but all fail. Only [dude] really understood how to make your people into a money of themselves, but, he was doctored to death and crushed by the world. "Make me, a hinge" - Some actor in some movie asking some worker to make some thing, fast enough to not get his brains blown out. |
Anonymous Coward User ID: 77034165 Canada 04/12/2021 12:26 PM Report Abusive Post Report Copyright Violation | guaranteed Canada does something like that. Quoting: Anonymous Coward 8856824 Freeland has already said that she wants to liberate money from Canadian's savings accounts to "boost" the economy, and that she's looking for incentive plans to "encourage" Canadians to spend even when they don't want to. Buy gold and silver. Convert 60% of your savings right now and liberate your own money before they take it from you. |
Mr_Stiv
User ID: 74288750 United States 04/12/2021 12:32 PM Report Abusive Post Report Copyright Violation | It's crazy to think to put an expire date on money so you spend it quicker. What the hell do you do to save for things or your retirement? I bet they are planning "END OF LIFE" centers you have to go to when you reach 60 years old... This isn't a new idea. An Italian money crank named Silvio Giselle came up with the idea of issuing money that would devalue month by month (or something along those lines) and eventually be worth nothing if you waited long enough. It makes perfect sense for disciples of John Maynard Keynes, who despised the concepts of thrift and saving, primarily because when administered properly, those are the basis of an honest banking system. Some GLPers may remember back in the early 1960s when the U.S. was still somewhat on a gold standard (a la Bretton Woods); back then, banks paid something like 5% interest on savings accounts, because that was the basis for their lending facilities (yes, it was leveraged thru fractional reserve banking but I don't want to get into all that right now). It worked very well--plus banks gave out all kinds of nice gifts if you opened an account, like china sets or newfangled appliances... |
Copperhead
User ID: 79665108 United States 04/12/2021 12:45 PM Report Abusive Post Report Copyright Violation | |
Green Eggs & Ham
User ID: 77311748 United States 04/12/2021 12:48 PM Report Abusive Post Report Copyright Violation | |
Green Eggs & Ham
User ID: 77311748 United States 04/12/2021 12:49 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80039448 Chile 04/12/2021 01:22 PM Report Abusive Post Report Copyright Violation | holy fucking shit, do they really think people are stupid enough to accept that as currency????? Quoting: Green Eggs & Ham Oh, wait, we accept fiat that deflates in value... The US wants to do the same thing. It will be marketed as portable, seamless, more secure and efficient, etc. The only problem is that it is not yours. As in the case with China, if it has an expiration date, digital money can also be "turned off". So, if you do or say something the government does not like... caveat emptor. |
Cardiak
User ID: 78051256 United States 04/12/2021 01:35 PM Report Abusive Post Report Copyright Violation | Blockchain pure proof of stake will be what digital currency is built on. You can also set inflation to inflate real ID wallets holding less then X amount of money with X% inflation while the larger the wallet the smaller the inflation % making poor people receive the benefits of inflation which goes to the currency holders and rich people receive less making rich people more likely to invest or spend that money in the economy. This is what you call staking rewards but in pure proof of stake concepts the staking is instant and if a stable coin such as a fed coin or the like is built on this type of network it can do the same without having the Spector of a coin that could lose its value each day. It’s not if, it’s just when it’s coming. Right now it looks like Algorand is the blockchain the federal reserve is building their prototype to introduce to Congress |
Saskafrass
User ID: 2969068 Canada 04/12/2021 02:01 PM Report Abusive Post Report Copyright Violation | It's crazy to think to put an expire date on money so you spend it quicker. What the hell do you do to save for things or your retirement? I bet they are planning "END OF LIFE" centers you have to go to when you reach 60 years old... Be glad you don't have a rare blood type in China, I am sure their organ donor system is on the up and up. Just ask the Uighers. Nothing quite like a system of government that sees and treats it citizens no different than parts in a large machine. Expendable and ultimately recyclable. |
Anonymous Coward User ID: 80158173 United States 04/12/2021 02:06 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 78263082 Canada 04/12/2021 02:07 PM Report Abusive Post Report Copyright Violation | |
T-Man
Entitled title User ID: 78270630 Netherlands 04/12/2021 02:09 PM Report Abusive Post Report Copyright Violation | sounds terrible from a users perspective. great from a government perspective i guess. imagine them bringing the expiration date up so youll just have to spend your money whether you want to or not? i guess youd just buy gold/silver or cryptos. but then what good would that be?! haha |
Seething
User ID: 77310877 United States 04/12/2021 02:11 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 51338176 United States 04/12/2021 02:14 PM Report Abusive Post Report Copyright Violation | It's crazy to think to put an expire date on money so you spend it quicker. What the hell do you do to save for things or your retirement? I bet they are planning "END OF LIFE" centers you have to go to when you reach 60 years old... This isn't a new idea. An Italian money crank named Silvio Giselle came up with the idea of issuing money that would devalue month by month (or something along those lines) and eventually be worth nothing if you waited long enough. It makes perfect sense for disciples of John Maynard Keynes, who despised the concepts of thrift and saving, primarily because when administered properly, those are the basis of an honest banking system. Some GLPers may remember back in the early 1960s when the U.S. was still somewhat on a gold standard (a la Bretton Woods); back then, banks paid something like 5% interest on savings accounts, because that was the basis for their lending facilities (yes, it was leveraged thru fractional reserve banking but I don't want to get into all that right now). It worked very well--plus banks gave out all kinds of nice gifts if you opened an account, like china sets or newfangled appliances... Toasters and kitchen appliances |
T-Man
Entitled title User ID: 78270630 Netherlands 04/12/2021 02:14 PM Report Abusive Post Report Copyright Violation | |