Bitcoin, Fiat Currencies, and … Tesla

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American Thinker: Tesla CEO Elon Musk riled the crypto-currency community some months ago when he announced that Tesla would accept Bitcoin as a mode of payment only to withdraw the offer when reports of Bitcoin’s profligate use of energy became too prominent to ignore.  “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions,” Musk said, “especially coal …”

Musk quickly walked back his words, saying that Tesla would reconsider accepting Bitcoin if there’s progress on the energy issue.  “To be clear,” he tweeted, “I strongly believe in crypto, but it can’t drive a massive increase in fossil fuel use, especially coal.”

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Then Musk made this telling comment:  “The true battle is between fiat & crypto.  On balance I support the latter.”  This is a commonly held view among many observers of the cryptocurrency scene.  Like Musk, they see a contest between two opposing camps:  in this corner, supported by the central banks, are the major fiat currencies, and in that corner the crypto-challengers.

The inside line is that the days of fiat are numbered and the wide acceptance of some form of crypto-currency is inevitable. Read More …

Opinion: I agree and the “some form of crypto-currency” is Central Bank Digital Currency (CBDCs). In that way, for a while at least, governments and central bankers will have even more control of their citizens.

Think about it. You open an account with your country’s central bank. No more disease-ridden paper money and no more coins to store in a jar. No more worry about someone stealing your cash, no more worry about losing your cash, and no more fear of being held up at gunpoint for your wallet.

Think of the convenience. When government helicopter money is given no more waiting for your check in the mail, it will just magically show up in your central bank account, and for the first time there will be no more worrying about paying your income tax, your friendly central banker will just automatically take the money from your account.

Of course, for all that convenience there will be just a few modifications you will need to be aware of. You see, digital money is programmable.

In my last interview with Jimmy DeYoung on July 31, he asked me this final question:

Is this a precursor to the Antichrist and the “mark of the Beast” – needed to buy and sell?

My answer was this:

I have often remarked on our blog that before this generation there was no economic system on earth that could be completely controlled by one government.

The advent of Bitcoin in 2013, and a stable of over 200 coins that are not controlled by governments has forced central banks to move forward on central bank digital currencies (CBDCs) or risk losing control of the money supply of the nations they represent.

Jimmy, the US Federal Reserve is moving forward with its own version of a digital currency even though it is now lagging the Chinese

  • Since the Fed would monitor every transaction, bank accounts will be unnecessary
  • Because digital money will be programmable, it will change the entire structure of money – the Fed will be able to automatically deduct taxes, freeze funds, limit or deny transactions to go through, think about this: purchases of firearms -DENIED. fossil fuels – DENIED. Unapproved medical care – DENIED. Financial support of certain political candidates- DENIED.

JIMMY, just use your imagination on this one …

So, YES, I believe this is a precursor, making the road to Revelation 13:16-17 very real …

You can hear the whole interview HERE