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Make No Mistake, a U.S. Digital Dollar Is Coming

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Welcome to Inside Wall Street with Nomi Prins! It?s the only daily newsletter featuring the insigh

[Inside Wall Street with Nomi Prins]( Welcome to Inside Wall Street with Nomi Prins! It’s the only daily newsletter featuring the insights of renowned author and former Wall Street insider, Nomi Prins. Every day, Nomi shines a light on a massive wealth transfer she calls The Great Distortion. That’s the true cause of the permanent disconnect she sees between the markets and the real economy. And she shares ways you can come out ahead, if you know where the money is flowing. You’ll find all Nomi’s Inside Wall Street issues [here](. If you have questions or comments, send Nomi a note anytime [here]( or at feedback@rogueeconomics.com. Make No Mistake, a U.S. Digital Dollar Is Coming By Nomi Prins, Editor, Inside Wall Street with Nomi Prins If you follow the mainstream media, you’ve likely seen the headlines… “Digital U.S. Dollar Looks ‘Inevitable,’ Bank of America” – Bloomberg “A Cashless Society Is Imminent” – Forbes “Visa Offers Restaurants $10,000 dollars… if They Stop Accepting Cash” – CNN But if you’ve been following our work, you were probably already aware of policymakers’ desire to move away from physical cash and towards a digital dollar. Nonetheless, from some questions I’ve received in the mailbag – as well as what I’ve been hearing at my various speaking engagements and meetings – I feel there’s quite a bit of confusion out there about what a digital dollar will likely look like. So today, I’m going to look beyond the headlines – and clear up a few key aspects surrounding this subject and show you what it means for you. The Fed Coin In November 2019, the Federal Reserve wrote an open letter to policymakers. Fed Chair Jerome Powell said the Fed was analyzing “the costs and benefits of pursuing a digital currency in the U.S.” Then, in 2020, Senator Tom Cotton said something interesting during a Senate Banking Committee meeting: The U.S. needs a digital dollar… The U.S. dollar has to keep earning that place in the global payments system. It has to be better than Bitcoin… it has to be better than a digital yuan. During the pandemic the perceived benefits of such a digital dollar became even clearer to policymakers. And so soon enough Congress made it explicit. That’s when the Digital Dollar first appeared in a bill that Nancy Pelosi introduced. The idea was for the Federal Reserve to create and manage a centralized digital currency to facilitate Covid-19 stimulus payments. This would have been a major expansion of the Fed’s power. Every U.S. resident was to get a Digital Dollar Wallet that they could manage on their phone and into which the Fed could deposit stimulus money. While the Digital Dollar provision didn’t make it in the final version of this bill, it has reappeared in other legislation and in Senate committee meetings since. And, as I write, the push for the Fed coin continues. [Featured: Do Recession-Proof Stocks Exist???]( Earlier this year, for instance, the Fed and the Massachusetts Institute of Technology (MIT) concluded the first phase of a project analyzing the merits and technical feasibility of a digital dollar. Scientists working on the multi-year project, dubbed "Project Hamilton,” created a code that is capable of handling 1.7 million transactions per second. They also found the "vast majority" of transactions settled in under two seconds. This came on the heels of the Fed’s long-awaited study exploring the pros and cons of a digital dollar. The paper shied away from any conclusions, but it did suggest that a digital dollar would be a more efficient online currency than crypto. This brings us to… Recommended Link [Secretive asset class withstanding stock market disaster - get in now]( [Ad Image] The “era of abundance” is behind us… With stocks down 25%... and more pain on the horizon… Most people are likely to lose money this year. But for another group of investors - it’s a much different story: [A new type of millionaire is springing from the ashes.]( Their rapid rise has nothing to do with stocks… private investing… or real estate. Yet 1 million of these millionaires have been created in a single year. [Click here to discover what they’re buying (and how $50 lets you join them).]( -- The Good Cryptocurrencies surged in popularity partly due to their use in real-time, peer-to-peer payments. A digital dollar could potentially offer the same. Transactions using a digital dollar could be used for everything from buying groceries to receiving government checks. This means that the government could deposit stimulus checks directly into people’s digital wallets in times of need through the Fed. No more waiting weeks for a physical check. The same goes for small businesses applying for emergency loans through government programs. No more waiting weeks for the funds to go from the Treasury Department… to the bank headquarters… to the local bank where the loan originated… and finally, to the business owner. Instead, funds could be deposited directly into digital wallets assigned to these businesses. Recommended Link [Nomi Prins: “What I said on Fox Business…”]( [image]( “Did you catch my recent interview on Fox Business? On the air, I shared a prediction that’s already playing out in the markets, right now. I said the Fed wouldn’t raise rates as much as most in the mainstream media expect. And so far, I’m right. Later in the segment, Fox host Charles Payne asked me: “What’s happening that most people might be missing… that you really want people to know?” I only had a few seconds to answer on the show, so I’ve recently decided to record another, more in-depth [interview to show viewers exactly what people are missing in today’s markets.]( In it, I also made a big new prediction about what the Federal Reserve will likely do next… and what Americans can do to ensure their financial future is protected.” — Nomi Prins [Click here to see the entire interview.]( -- The Bad The digital dollar would be issued by the U.S. Federal Reserve, like all the U.S. dollar bills we use now. It would just be in a digital form. That said, for the same technological reasons, it’s even easier to fabricate a central bank digital currency (CBDC) out of thin air than a fiat currency. So, if the government needed to create more money, it would be even easier than it is right now. And as we know, the more of something there is in supply, the less valuable each unit of it becomes. And there’s another reason to be concerned about the arrival of a digital dollar. As I previously explained in one of my [mailbags]( CBDCs would help strengthen central banks’ power over the financial system. That’s because CBDCs will be highly centralized and capable of processing more related information faster. This brings us to… [Featured: Dr. Nomi Prins: “Musk spent $10 billion on these. This is bigger…”]( The Ugly With a digital dollar, the government could have complete knowledge of – and control over – every transaction you make. The possibilities and implications are limitless. They range from taxation to interest rates. But, again, we just don’t know for sure at this stage. This theoretically means that, if you do something the government doesn’t like, they could be able to turn off your ability to transact at the push of a button, or they could charge your account. At that point, the government could have almost unbreakable financial control over the individual. Moreover, they could be a step closer to redistributing the country’s wealth any way they saw fit. As former U.S. representative Dr. Ron Paul said: The cashless society is the dream: total knowledge of, and control over, the finances of every single American. Recommended Link Market Wizard Reveals: [The One Ticker Retirement Plan]( [image]( Introducing the “One Ticker Retirement Plan”… It’s a way to trade just one ticker… And potentially make all the money you need – no matter what happens in the stock market. Sounds too good to be true? [Larry reveals everything in this interview – including the name of the ticker you need to get started.]( -- What This Means for Your Money I think it’s inevitable that the U.S. will adopt a digital currency form of the dollar at some point. I also think that it’s easier said than done to connect all citizens in the country directly to the Fed for financial transactions. This won’t happen tomorrow. But I think it’s more a “when” than an “if.” In fact, it’s probably happening much faster than you think… Biden’s Executive Order on crypto – which I wrote to you about [back in March]( – is a case in point. Earlier this year, it called for the highest urgency in the U.S. to digitalize the dollar. So, if you ever need another reason to add Bitcoin as a speculative asset in your portfolio, this is one. The advent of a digital dollar will invariably cause a rise in technological know-how of how cryptos work. As people become more comfortable with the Fed coin, it will become easier for them to adopt Bitcoin. Put another way, a digital dollar could become the perfect trigger to cause more widespread adoption of Bitcoin. Now, Bitcoin is a volatile asset that undergoes periods of violent swings. But even though it’s had a tumultuous year, the Bitcoin price remains range bound as of late. Many stocks have fared worse. That said, this still isn’t the time to dive in headfirst. Instead, we recommend investing a fixed amount of money on a regular basis, typically monthly or bi-weekly. That way, you can buy more when the price is low and less when prices are high. This is called dollar-cost averaging. PayPal or Block’s (previously called Square) Cash App is one of the most convenient options for doing this. With these popular apps, you can start your Bitcoin portfolio with as little as $1. Another way is to purchase Bitcoin on a crypto exchange such as Coinbase and simply store it in a crypto wallet. But, again, remember that Bitcoin is a speculative asset. A small investment can go a long way. So don’t ever invest more than you can afford to lose. Regards, [signature] Nomi Prins Editor, Inside Wall Street with Nomi Prins --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Inside Wall Street Feedback). --------------------------------------------------------------- MAILBAG How soon do you think the U.S. could adopt a digital currency form of the dollar? If the digital dollar is implemented, are you worried about the control that the government could have over every transaction you make? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=RE: Make No Mistake, a U.S. Digital Dollar Is Coming). IN CASE YOU MISSED IT… [Former Trump Advisor reveals wealth secret]( He’s negotiated over a billion dollars in deals with Walmart, McDonald’s, and hundreds more companies both big and small. He’s a frequent guest on Fox News, CNN, Kiplinger, NPR, Forbes and many more. He’s even been an advisor to President Donald Trump. And for the first time ever, [in this interview, he revealed how to collect thousands of dollars from North America’s fastest-growing companies…]( BEFORE they go public! He says the secret is in a document of the 500 fastest growing startups in North America right now. And it’s because these companies generate so much wealth… so fast… it’s possible for you to collect substantial wealth from them every single month. [Click here for the full story.]( [image]( Get Instant Access Click to read these free reports and automatically sign up for daily research. [An Insider’s Guide to Making a Fortune from Small Tech Stocks]( [The Trader’s Guide to Technical Analysis]( [The Ultimate Guide to Taking Back Your Privacy]( [Rogue Economincs]( Rogue Economics 55 NE 5th Avenue, Delray Beach, FL 33483 [www.rogueeconomics.com]( [Tweet]( [TWITTER]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Rogue Economics welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-800-681-1765, Mon–Fri, 9am–7pm ET, or email us [here](mailto:memberservices@rogueeconomics.com). © 2022 Rogue Economics. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Rogue Economics. [Privacy Policy]( | [Terms of Use](

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