Central Bank Digital Currency to End Inflation

[Ragnar Celine]

A Nobel winning economist has a plan for digital currency to solve the inflation problem.

On March 9, 2022 U.S. President Joe Biden signed Executive Order 14067 to develop a Central Bank Digital Currency.

Yale Professor and Nobel winning economist Robert Shiller thinks digital currency will solve the inflation problem. He wants to create the perfect electronic money by basing currency units on people's economic needs.

Shiller's plan is for sophisticated software to aggregate the prices of a typical basket of consumer’s daily purchases so that the price of the basket in dollars rises with inflation.

This is similar to the Unidad de Fomento used in Chile. In the 1960s, Chile created a quasi-currency called the UF to track inflation. If inflation rapidly accelerates, the UF becomes more valuable against the Chilean Peso, allowing UF holders to maintain buying power. Items priced in UF stay the same all the time, automatically adjusting with inflation.

In his book "The New Financial Order", Shiller proposed the US adopt a digital version of the UF.

Shiller wants to introduce a digital version of the UF into the US economy to protect the value of people's money from being eroded by inflation.

Companies like Square and PayPal could let people make payments in these new currency units anywhere in the world.

Most wages are not inflation-adjusted leading to fights over pay raises to adjust for inflation. But if wages were based on the basket of goods a wage earner needs, there would be no need to change it.

If your rent is automatically adjusted for inflation, you and your landlord don’t need to argue about how much it should be raised to keep up with inflation.

The government could also redefine the tax system to be automatically indexed to inflation. It would be easy and virtually costless.

Digital currency is already on the way to becoming reality. The Federal Reserve has a study group looking at launching digital currency to move the United States to a cashless society.

Upgrading to digital currency would revolutionize the financial system by creating more certainty and safety in the future. The sooner it happens, the sooner the scourge of inflation will be behind us.

 

[MarathonMike]

That sounds like that absolute worst idea I have ever heard. Individual wealth is the one thing that keeps governments from controlling the people. If they control the currency, then they control YOU.

 

[Grumblenuts]

Changed his mind that quick, eh?

Shiller joins a long list of prominent names, from legendary investor Warren Buffett to JPMorgan head Jamie Dimon, who have cast doubts on cryptocurrencies and bitcoin. In April, he told CNBC that bitcoin’s rise was a result of “faddish human behavior”. “..it's a story that I think goes way beyond the merit of the idea. ... It is more psychological than something that could be explained by the computer science department,” he said.

If so, our robber barons must really feel desperate.

 

[Toddsterpatriot]

A Nobel winning economist has a plan for digital currency to solve the inflation problem.

On March 9, 2022 U.S. President Joe Biden signed Executive Order 14067 to develop a Central Bank Digital Currency.

Yale Professor and Nobel winning economist Robert Shiller thinks digital currency will solve the inflation problem. He wants to create the perfect electronic money by basing currency units on people's economic needs.

Shiller's plan is for sophisticated software to aggregate the prices of a typical basket of consumer’s daily purchases so that the price of the basket in dollars rises with inflation.

This is similar to the Unidad de Fomento used in Chile. In the 1960s, Chile created a quasi-currency called the UF to track inflation. If inflation rapidly accelerates, the UF becomes more valuable against the Chilean Peso, allowing UF holders to maintain buying power. Items priced in UF stay the same all the time, automatically adjusting with inflation.

In his book "The New Financial Order", Shiller proposed the US adopt a digital version of the UF.

Shiller wants to introduce a digital version of the UF into the US economy to protect the value of people's money from being eroded by inflation.

Companies like Square and PayPal could let people make payments in these new currency units anywhere in the world.

Most wages are not inflation-adjusted leading to fights over pay raises to adjust for inflation. But if wages were based on the basket of goods a wage earner needs, there would be no need to change it.

If your rent is automatically adjusted for inflation, you and your landlord don’t need to argue about how much it should be raised to keep up with inflation.

The government could also redefine the tax system to be automatically indexed to inflation. It would be easy and virtually costless.

Digital currency is already on the way to becoming reality. The Federal Reserve has a study group looking at launching digital currency to move the United States to a cashless society.

Upgrading to digital currency would revolutionize the financial system by creating more certainty and safety in the future. The sooner it happens, the sooner the scourge of inflation will be behind us.

Yale Professor and Nobel winning economist Robert Shiller thinks digital currency will solve the inflation problem. He wants to create the perfect electronic money by basing currency units on people's economic needs.


But people still have dollars. Durr.

Items priced in UF stay the same all the time, automatically adjusting with inflation.

Wow! Never gonna happen.

The government could also redefine the tax system to be automatically indexed to inflation. It would be easy and virtually costless.

Tax brackets are already indexed for inflation.

 

[The Irish Ram]

A Nobel winning economist has a plan for digital currency to solve the inflation problem.

On March 9, 2022 U.S. President Joe Biden signed Executive Order 14067 to develop a Central Bank Digital Currency.

Yale Professor and Nobel winning economist Robert Shiller thinks digital currency will solve the inflation problem. He wants to create the perfect electronic money by basing currency units on people's economic needs.

Shiller's plan is for sophisticated software to aggregate the prices of a typical basket of consumer’s daily purchases so that the price of the basket in dollars rises with inflation.

This is similar to the Unidad de Fomento used in Chile. In the 1960s, Chile created a quasi-currency called the UF to track inflation. If inflation rapidly accelerates, the UF becomes more valuable against the Chilean Peso, allowing UF holders to maintain buying power. Items priced in UF stay the same all the time, automatically adjusting with inflation.

In his book "The New Financial Order", Shiller proposed the US adopt a digital version of the UF.

Shiller wants to introduce a digital version of the UF into the US economy to protect the value of people's money from being eroded by inflation.

Companies like Square and PayPal could let people make payments in these new currency units anywhere in the world.

Most wages are not inflation-adjusted leading to fights over pay raises to adjust for inflation. But if wages were based on the basket of goods a wage earner needs, there would be no need to change it.

If your rent is automatically adjusted for inflation, you and your landlord don’t need to argue about how much it should be raised to keep up with inflation.

The government could also redefine the tax system to be automatically indexed to inflation. It would be easy and virtually costless.

Digital currency is already on the way to becoming reality. The Federal Reserve has a study group looking at launching digital currency to move the United States to a cashless society.

Upgrading to digital currency would revolutionize the financial system by creating more certainty and safety in the future. The sooner it happens, the sooner the scourge of inflation will be behind us.

Please don't buy the bullshit. They are destroying the dollar. They are going to invent a fedcoin that will go into your virtual bank account, that is directly linked to the Federal Reserve. They will take a cue from China and give us a social credit rating and will deduct according to your behavior. Paypal already let it slip that they want to help themselves to your money if they feel you spread some "disinformation" somewhere to punish you.

Do not be fooled. This is not a good thing...

 

[Ragnar Celine]

That sounds like that absolute worst idea I have ever heard. Individual wealth is the one thing that keeps governments from controlling the people. If they control the currency, then they control YOU.

The question isn't if it is a good idea or not. The question is if enough people will believe it is a good idea. We all know how dumb the average voter is and by definition half of them are even dumber.

 

[Ragnar Celine]

Please don't buy the bullshit. They are destroying the dollar. They are going to invent a fedcoin that will go into your virtual bank account, that is directly linked to the Federal Reserve. They will take a cue from China and give us a social credit rating and will deduct according to your behavior. Paypal already let it slip that they want to help themselves to your money if they feel you spread some "disinformation" somewhere to punish you.

Do not be fooled. This is not a good thing...

The question is whether the benefits of eliminating inflation outweigh the costs of the social credit score.

 

[Votto]

The question isn't if it is a good idea or not. The question is if enough people will believe it is a good idea. We all know how dumb the average voter is and by definition half of them are even dumber.

We saw what happened in Canada when people protested against Trudy. Trudy just seized their digital money on a whim.

Digital money = absolute government control.

Imagine, if you will, going to a store to buy a bag of potato chips but you are unable to do so because the government knows you are already overweight, so the transaction gets deneied.

LOL.

And no, people won't have a choice, per usual. People will either be tricked into it or bypassed and run over via dirty elections.

More than likely, however, they will just create another crisis economically and come charging in on a white horse to "fix" it.

Works every time.

 

[Ragnar Celine]

We saw what happened in Canada when people protested against Trudy. Trudy just seized their digital money on a whim.

Digital money = absolute government control.

Imagine, if you will, going to a store to buy a bag of potato chips but you are unable to do so because the government knows you are already overweight, so the transaction gets deneied.

LOL.

And no, people won't have a choice, per usual. People will either be tricked into it or bypassed and run over via dirty elections.

If you can keep a good score then you'll have nothing to worry about. Eliminating inflation would be like getting free money.

People still choose which party to vote for and they know which party is pushing for digital currency and which one is against it.

 

[Hossfly]

Oh, brother!

 

[frigidweirdo]

A Nobel winning economist has a plan for digital currency to solve the inflation problem.

On March 9, 2022 U.S. President Joe Biden signed Executive Order 14067 to develop a Central Bank Digital Currency.

Yale Professor and Nobel winning economist Robert Shiller thinks digital currency will solve the inflation problem. He wants to create the perfect electronic money by basing currency units on people's economic needs.

Shiller's plan is for sophisticated software to aggregate the prices of a typical basket of consumer’s daily purchases so that the price of the basket in dollars rises with inflation.

This is similar to the Unidad de Fomento used in Chile. In the 1960s, Chile created a quasi-currency called the UF to track inflation. If inflation rapidly accelerates, the UF becomes more valuable against the Chilean Peso, allowing UF holders to maintain buying power. Items priced in UF stay the same all the time, automatically adjusting with inflation.

In his book "The New Financial Order", Shiller proposed the US adopt a digital version of the UF.

Shiller wants to introduce a digital version of the UF into the US economy to protect the value of people's money from being eroded by inflation.

Companies like Square and PayPal could let people make payments in these new currency units anywhere in the world.

Most wages are not inflation-adjusted leading to fights over pay raises to adjust for inflation. But if wages were based on the basket of goods a wage earner needs, there would be no need to change it.

If your rent is automatically adjusted for inflation, you and your landlord don’t need to argue about how much it should be raised to keep up with inflation.

The government could also redefine the tax system to be automatically indexed to inflation. It would be easy and virtually costless.

Digital currency is already on the way to becoming reality. The Federal Reserve has a study group looking at launching digital currency to move the United States to a cashless society.

Upgrading to digital currency would revolutionize the financial system by creating more certainty and safety in the future. The sooner it happens, the sooner the scourge of inflation will be behind us.

Yeah, won't work.

 

[Ragnar Celine]

Yeah, won't work.

Doesn't matter if it will work or not. It only matters that people believe it will work. Politicians make promises they can't keep all the time.

 

[westwall]

The question is whether the benefits of eliminating inflation outweigh the costs of the social credit score.

No

 

[Ragnar Celine]

No

Maybe not for you, but everyone has to decide for themselves. I'd bet a good number of folks would think it'd be worth it.

 

[The Irish Ram]

The question is whether the benefits of eliminating inflation outweigh the costs of the social credit score.

The answer is, "No." Unless you like to be surprised every month by the paltry amount you have left in your account once they start penalizing you. You don't need to destroy the dollar to stop inflation. This administration does not want to stop inflation. They created it for a reason.

 

[Ragnar Celine]

The answer is, "No." Unless you like to be surprised every month by the paltry amount you have left in your account once they start penalizing you...

That might just be a risk enough people are willing to take.

 

[westwall]

Maybe not for you, but everyone has to decide for themselves. I'd bet a good number of folks would think it'd be worth it.

Not if their IQ is greater than two.

 

[The Irish Ram]

If you can keep a good score then you'll have nothing to worry about. Eliminating inflation would be like getting free money.

People still choose which party to vote for and they know which party is pushing for digital currency and which one is against it.

Really? Think of all the accounts that Twitter has blocked because a point of view differed from the folks running the Twitter shit show. Then change Twitter to the Federal Reserve shit show, and give them that same power over your bank account. Paypal wants to monitor your internet life to see if you agree with ??? at Paypal or not? Then take your money if you don't. You think that is a good idea? If so, you won't mind government intervention into your bank account. But it will get much worse:
Do you drive an electric vehicle? No? DEDUCTION. You like a warm house? Gas or electric? DEDUCTION. You went over your electric allotment again. DOUBLE DEDUCTION. Dissing your fellow man by adding to climate change by using more than your share of electric> BIG DEDUCTION,and LABELED SELFISH USER ON YOUR VIEWABLE SOCIAL SCORE PAGE.

Keep your social score good? My daughter's credit score just went down 9 points today and really pissed her off. The reason was because her mortgage transferred from the loan company to a bank. All without her knowledge, and is perfectly fine. Not one thing changed. Except her credit rating. And advise for her?
Do you have pets? Do they pass gas? DEDUCTION~Climate change. Do you have a driveway that prevents rain from entering the ground? DEDUCTION. Refuse a deadly vaccine? MAJOR DEDUCTION. Cigarettes? Another 6 pack? DEDUCTION. Disagree at a school board meeting with transgender injections to your elementary school child without your permission? MAJOR DEDUCTION ~ LABELED HOMOPHOBIC BIGOT RELIGIOUS ZEALOT on your public record.
If they have control of your money. They have control of you.

Are you getting it? How about this instead:
Gov. halt to printing money.
Government stop giving it away to every nation on earth.
Reduce regulations...Raise the GDP
Create a budget and then abide by it.

Want to stop inflation almost immediately? START PRODUCING OUR CLEANEST GAS AND OIL< (THAT THE WHOLE WORLD DEPENDS ON) AGAIN AND SEND OUR GASOLINE BACK TO $1.65 AGAIN AND BRING RELIEF TO THE WHOLE WORLD SO THEY CAN TELL PUTIN AND OPEC TO KISS THEIR ASSES AND KEEP THEIR FILTHY CRUDE at $150.00 A BARREL AGAIN.
^
That is a better option than government control of every dime you have, and every thing you do...

 

[Ragnar Celine]

Not if their IQ is greater than two.

Seems it depends on your particular circumstances. High income people are less financially vulnerable and have less reason to fear a bad social credit score than do low income people.

If your attitude is already aligned with those controlling the social credit system, or you can fake like it is, you'll probably be ok too.

We also have a very competitive society and many would benefit by others being taken down a peg or two by a bad social score.

Others would just enjoy the fun of turning their everyday activity into a kind of casino game.

 

[Votto]

Seems it depends on your particular circumstances. High income people are less financially vulnerable and have less reason to fear a bad social credit score than do low income people.

If your attitude is already aligned with those controlling the social credit system, or you can fake like it is, you'll probably be ok too.

We also have a very competitive society and many would benefit by others being taken down a peg or two by a bad social score.

Others would just enjoy the fun of turning their everyday activity into a kind of casino game.

If this really appeals to you move to China