Hey Friends. Fall has arrived and we find ourselves in the last quarter of 2022. Being a latter-stage sexagenarian, the seasons seem to roll over as though months were weeks.
A close friend emailed me recently. He has been pondering whether digital currency will eventually be issued by our government in exchange for our current form of money. He ponders whether the new money would actually be digital dollars and all business would be transacted with this money. My friend wondered at my thoughts and believed it would be a good subject for a post. Today’s post lightly deals with the issue. I say lightly because there are many issues and many hurdles. And many of the issues and hurdles that would have to be satisfied to bring the end to our current form of money are yet unknown or not well understood. In my opinion, my friend is thinking rationally when he expects a time to come where we no longer transact in cash and coinage but deal in some form of digital money that has replaced the current U.S. dollar.
As we presently witness the U.S. dollar surging in strength amid the hot inflation numbers, the shocks to currencies across the world are significant. With the exploding debt numbers across global governments where money has been printed and printed and printed out of thin air, it seems a global currency crisis is inevitable at some point ahead.
If the future of our money is digital in form, it likely means the future of our present form of cash money is one of extinction. It’s hard to imagine co-existence although I suppose it’s possible. There are so many questions one would have; for me, it seems inevitable that politics would be heavily involved. Nothing is more political today than how our government positions itself for greater power via attaining a stronger grip on the purse strings. Would the total exchange of new digital currency for cash be done with a perfectly equitable basis across the population, for example?
As I looked into this, an article stood out to me as it ponders the road toward a cashless society. Rather than address the future of digital money, it addresses the future of cash. I’ll leave you today with a link to this article. Go here to read.
Until next time, may God bless each of you.
Paul
Interesting article you linked us to about a future cashless society. My personal opinion is that the U.S. government and world leaders represented by Klauss Schwab and the World Economic Forum would love to usher in a world digital currency much faster than the author of the article suggests.
Why?? These elitist leaders (from both left and right wing political groups) thirst for even more power and control over others. They say that we will “ own nothing and be happy” and that individual liberty should be replaced with “the common good”.
I understand that digital money is used now in the form of visa, mastercard,etc; but what I see coming is government and/or world digital currency. A great national economic catastrophe may occur and the U.S. government may, for example, give everyone 30 days to turn in their U. S. currency for digital currency. After the 30 days the paper and coin money (with the exception of pre-1964 silver coins) would become worthless.
At this point our in our new totalitarian U.S. government EVERY SINGLE ECONMIC TRANSACTION (except barter) would be tracked. I would have to write thousands of words to express how individual liberty, so valued by our nation’s founders, would come to a total end.
Sadly, I see our nation and the world headed quickly in this direction—and what makes me sadder is that most people would welcome this change as transactions economic would seem easier.
Steve, thanks for the insightful comment. I can’t help but think about what the Revelation has to say about buying and selling during the Great Tribulation period. It is pretty clear that currency as we have known it, and even digital money in the form of visa, mastercard, etc does not befit what the Bible describes as a transactional system in the end times. That day will come because God’s Word says it will. The timeline to it is on God’s agenda and in His assigned time which we cannot know. Yet that day will again come and it will be known then. It’s hard for me to look at the world today and not think the ground is quickly being laid for what Revelation says is to be. However things proceed, your comment about many welcoming a snare of bondage posing in the guise of ease surely shouldn’t be dismissed lightly given what we can observe now.