Should the Fed Set Up A Digital Currency? . . . Could A Digital Currency Lead to A Chinese-Styled Social Credit System?

The Omaha Bugle-Global News Network

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Adam and Jeff demonstrate their intellectual versatility by venturing into the Orwellian world of digital currencies. More specifically, they wonder what good can possibly come from the government, discontinuing actual, tangible dollars in favor of a digital currency that is controlled by the Federal Reserve. They argue that digital currencies may be a solution in search for a problem because most people are fearful that the government could shut down the cash economy and then be able to control every transaction engaged in by every citizen. Jeff declares that he is not a fan of this sort of financial voyeurism and worries that it is merely a pretext to seize control of every citizen’s bank account and thereby strongly encourage or discourage particular political activities.