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If CBDC issuance coincides with banning physical cash, what makes you think that they won't enforce capital controls on alternative currencies?
by joeyrideout 6y ago
If CBDC issuance coincides with banning physical cash, what makes you think that they won't enforce capital controls on alternative currencies?
- claydavisss 6y agoA "ban" on gold would only achieve multiplying the spot price by ten overnight. It would be the final signal that fiat currencies should be avoided at all costs.
- octoberfranklin 6y ago... and incentivize people to smuggle their gold out of the country. International trade is far too large these days to stop gold-smuggling. Look at the great job we're doing with drug smuggling. Most cocaine enters the US hidden in shipping containers.
- est31 6y agoAnd there is precedent to this, see Executive Order 6102: https://en.wikipedia.org/wiki/Executive_Order_6102 https://en.wikipedia.org/wiki/Executive_Order_6102
- cblconfederate 6y agoThere is a universe of alternative currencies. If people truly start trading gold its not going to stop until they barter in peas or clams
- jmnicolas 6y agoIMHO gold will hold value longer than their ability to enforce the ban. The question is, will you live long enough to see the end of the ban. If you have children it may very well be worth it.