Chris’ note: Yesterday, you heard from colleague Teeka Tiwari about America’s wealth gap crisis…
One of the proposed solutions to the ever-widening gap between the country’s wealthiest and its poor is a universal basic income.
These would be regular payments from the government to citizens. And as you’ll hear from Teeka today, it would also be a disaster for your financial privacy.
A digital currency would be the easiest way to make it happen… And it would also give the government unfettered access to your every transaction.
But the good news is Teeka has revealed some ways you can protect yourself… And even profit from the historic financial shift that’s coming…
Friends, I’ve traveled across the world, from invite-only meetings in Hong Kong…
To briefing members of the global elite on blockchain technology at the World Economic Forum in Davos, Switzerland.
I trekked through the world’s hottest desert… hiked through the Amazon rainforest (and picked up a life-threatening rare bacterial infection)… nearly been thrown in jail in the former Soviet Union… and was stranded on a catamaran in the middle of the Atlantic Ocean.
But nothing in the world could prepare me for what I witnessed on Los Angeles’ Skid Row…
I can’t tell you the last time I was in LA. It was years ago. What greeted me on this most recent trip left me horrified.
There were rotting piles of fetid garbage and discarded clothing… tents and camping stoves sharing space on residential streets with multimillion-dollar homes.
Members of the notorious MS-13 gang roamed the streets with impunity. When I saw that, I knew I had made the right decision to insist on having my own armed security escort.
The last time I had needed armed guards with me was on a research trip to Bogota, Colombia… It was shocking that I needed the same level of security in an American city.
I could only describe what I saw as social anarchy – a total breakdown of the enforcement of even the most basic laws that enable a civilized city to function, with no end of this civil breakdown in sight.
In Monday’s Daily, I told you I traveled to Los Angeles for an investigative report on the growing wealth gap in the United States.
I reported live from Skid Row and Beverly Hills. You can see for yourself how wide the gap is between these two neighborhoods, which are separated by just 10 miles.
During my investigation, I realized this shocking wealth gap is caused by something called “The Answer.” It’s something I covered in depth in yesterday’s daily.
In short, the Answer is a project developed by the powerful elites at the World Economic Forum. It’s basically a codename for Universal Basic Income (UBI).
In this second part of my report, I’ll share a way to protect your assets from the hands of these financial elites – while also making a fortune in the process.
I’ve moved $11 million of my personal money out of the system in preparation. I hope you consider doing the same with an allocation of your own money as well.
UBI: The Trojan Horse for CBDCs
As I reported in Monday’s essay, UBI offers a no-strings-attached monthly payment… for everyone, at every income level.
To pay for all this, governments will need digital money. It’s the most efficient way to manage and track such a massive transfer of wealth.
That digital money will come in the form of a central bank digital currency (CBDC).
I’ve been warning you about the privacy threats CBDCs pose since June.
Currently, 114 countries – representing over 95% of global gross domestic product (GDP) – are exploring a CBDC. And 11 have launched a CBDC, including China, Nigeria, and Saudi Arabia.
Now, there are some benefits of CBDCs, which is why they seem appealing at first glance.
The biggest benefit of a CBDC will be faster settlement times. Instead of taking days for a transaction to settle, it will be as fast as paying with cash.
Plus, countries can make their CBDC available on a smartphone – bypassing the traditional banking system like China did with the e-CNY.
In the next decade, we could see an estimated 1.4 billion unbanked adults globally adopt CBDCs. And hundreds of millions more will adopt them simply for their ease of use.
With CBDCs, the government can just drop the digital dollars in your digital wallet or bank account. That avoids the hassle of mailing checks to millions of people upon the adoption of UBI.
But here’s where the danger comes from… If the U.S. government adopts a CBDC, you’ll have your U.S. dollars in your bank reset… And they’ll be replaced with something much more dangerous.
To roll out a full-scale UBI pilot program, they’re going to legally bribe millions of Americans to consent.
Let me give you a real-life example of how this has already happened…
In China, the government created a digital version of its currency, the yuan. And it created a smartphone app anyone can use to access the digital yuan.
To incentivize folks to download the app, the Chinese government bribed its citizens with free money – the equivalent of $31.34 to be exact.
And it worked…
According to reports, the app saw record downloads. And the Chinese government considered it a success.
In one move, the communist government got its citizens to accept the digital yuan as the new currency and sign up to its controlled banking system…
All by giving away free money.
This is how our government will get Americans to quickly accept UBI.
What’s frightening about a centrally controlled digital dollar is that a government could shut off CBDC access to anyone for any reason at any time. And if a government bans cash, you’re literally locked out of your money.
They control your spending…
They could cancel orders on things they don’t want you to purchase, like red meat or ammunition.
Friends, a digital dollar will offer 100% visibility into every penny you spend.
Our government and dangerous unelected technocrats will turn into all-ruling overseers, scrutinizing and punishing us for every financial move we make.
It will be George Orwell’s Big Brother… but on steroids.
They can bribe millions of struggling Americans with free money that gives the government full consent to view and control all our finances.
How the Fed Will Spread a Digital Dollar
In July, the Federal Reserve launched a program called FedNow.
If you’re not familiar with FedNow, it’s basically the infrastructure the U.S. government will require for a future transition to a U.S. digital dollar.
That’s why I call FedNow “a Trojan horse” for CBDCs.
To be clear, FedNow isn’t a new digital currency.
It’s the Federal Reserve’s new instant payment system. It allows financial institutions of every size to provide instant payment services.
FedNow’s biggest selling point is that it will speed up transaction settlement times.
So rather than taking days to find out whether a check clears, it will happen instantly. And users can send and receive payments in real time, 24/7, every day of the year.
FedNow will initially cover domestic payments, but it plans to expand to international payments, too. That could be huge for financial remittances, which totaled just under $800 billion in 2022, according to the World Bank.
FedNow inches us closer to a digital dollar by creating the infrastructure needed to launch a digital dollar.
Hear me when I tell you this: Soon, the government could freeze your entire bank account.
Once you’re signed up with the federal bank account… You have officially “signed a contract” handing over your essential freedoms and privacy.
It’s an Orwellian nightmare…
Your Escape Plan
The idea of losing your financial privacy is scary… But the good news is, when these kinds of historic financial shifts happen, there are always going to be ways for you as an investor to make a fortune from it.
This is why I’ve moved $11 million of my own money outside of the traditional financial system in preparation.
The first place I believe you should move your money is to the decentralized blockchain…
I believe the simplest and most effective ways to opt out of this digital dollar are:
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Open a crypto account.
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Buy bitcoin (BTC) on the exchange.
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Self-custody your bitcoin.
I know many of you have heard me tout the benefits of bitcoin before. But with this “silent reset of America” to a new dollar regime, it’s even more urgent that you move a portion of your wealth to alternative assets like bitcoin.
Here’s why…
The beauty of bitcoin is you hold it. Nobody can take it from you. If you self-custody your bitcoin, no one can charge you any fees on it.
So you’re essentially your own bank.
During my investigative report, I also detailed several other steps you can take to shield your wealth from the coming digital dollar.
You can click here or the image below to watch my shocking exposé…
See Teeka’s shocking exposé from Skid Row
Friends, for the government to replace the traditional dollar with a digital dollar, it needs to have direct access to your bank account. That’s what FedNow will provide.
That’s why you want to act now… before you’re locked into the digital dollar.
Let the Game Come to You!
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Big T