What to Do About the Death of Cash
Amanda Heckman|January 21, 2023
Damned if you do… damned if you don’t.
At least where a digital dollar is concerned.
Either way, ordinary Americans need a way to protect their wealth… because what’s coming won’t be pretty.
The nonprofit Digital Dollar Project – a big proponent of a central bank digital currency, or CBDC – is urging the U.S. to get moving on a digital dollar. The group is tired of the government’s plodding pace on the issue. Don’t let other nations be first, they plead. It could hurt the dollar’s standing as the de facto global currency for trade and banking…
Which could in turn crush the dollar’s value… and make it barely worth the paper it’s printed on. Today’s inflation would seem like child’s play.
But the flip side – the adoption of a CBDC – has its own serious problems… for our individual safety, security and wealth.
The idea that the government could keep tabs on how, when and where we spend our money… reward or penalize us a la China’s social credit system… and create or destroy our currency on a whim… should scare any Liberty-loving American.
Because the truth is… despite the government’s slow crawl toward a CBDC, certain folks in charge understand that there’d be an economic crisis if we didn’t join what’s being called “a new digital assets space race.” That’s why the government is testing cross-border digital payments in a program called Project Cedar.
And as is the case with so many government projects… once it was started, there was no stopping or turning back.
The digital dollar is coming. It’s just a question of how long it will take our “leaders” to get it going… and how much their feet-dragging will damage our standing around the globe.
No matter what, it’s gonna hurt.
Manward readers get it.
They flooded our mailbag with responses to Andy’s essay last week on how the FTX disaster is pushing us ever closer to a digital currency…
I could not agree with you more on this topic. To me there is no question the control freaks in Washington want exactly that [a digital dollar]. The objective will be to find a way around it. – Reader D.M.
I’ve been reading about this coming for a while, but I don’t see any recommendations for what to do about it. Is there any way to avoid what is coming??? – Reader B.T.
Fortunately, it’s very simple.
Buy gold. And now’s the PERFECT time.
Gold is most often seen as a store of value and a form of portfolio insurance – it held steady in 2022, gaining 4% in a year the markets ended down double digits. And in addition to protecting you from market volatility and inflation… it is also your best defense against threats to your privacy… and the dangerous move to a digital currency.
And right now, it will not just safeguard your money and your privacy but also create more wealth for you.
Gold’s off to a hot start in 2023. It’s already up 6% this year and has risen 18% in the past three months.
Gold loves uncertainty, and we’re in for a lot of that this year. The battle over inflation… anxiety over where interest rates are headed… conflicting economic data… worries about whether a recession will hit… you name it.
It’s going to be a big year for the shiny metal as folks look for places to keep their money safe.
But more than that… investors would be wise to take advantage of gold’s bullish run to prepare for the coming digital dollar.
But you don’t have to stock up on gold bars. There’s a new way to own gold that you may not know about. It’s an ingenious way to actually use gold to buy everyday items. All the details are here.
Amanda Heckman is the editorial director of Manward Press. With unrivaled meticulousness, she has spent the past dozen or so years – give or take a few sabbaticals – sharpening Andy’s already razorlike wit. A classically trained musician and a skilled writer in her own right, Amanda takes an artistic approach to the complex world of investing. Her skill has led her to work with numerous bestselling authors, award-winning financial gurus and – lucky for us – the fine folks at Manward Press.