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WARNING: A Future US Digital Currency Might Give the FED the Power to Approve Your Mortgage Based on Factors Other than Credit Worthiness

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(Joe Hoft) The US and almost all countries are moving towards the implementation of digital currencies.  With this comes concerns related to privacy and government and political overreach and discrimination.

Related The Circle Is Complete: Bank of Japan Joins Fed And ECB In Preparing Rollout Of Digital Currency

Source – The Gateway Pundit

by Joe Hoft, July 9th, 2021

The below discussion with George Gammon addresses concerns about the government dictating who can get loans and at what rates.

Just imagine the next time you go to get a mortgage for your home.  You wouldn’t go down to your local Wells Fargo branch, you would go directly to Jerome Powell.  Right, and they would determine whether or not you get that loan and what the interest rate would be and therefore they can control the amount of dollars in the system.

Another reason this is so important for people to understand is right now the amount of lending in the system is constrained by the amount of individuals or entities in the system that can actually pay back the loans.  Right, commercial banks are constrained by a profit and loss.  The FED is not contained by a profit and loss.   So they wouldn’t have to use a credit score, as an example, to determine who gets a loan and who doesn’t get a loan and at what interest rate.  They could use a social score like we’re kind of seeing in China.

Similar actions could take place with groups being discriminated against.  Imagine if a governor in a state approves a bill that he or she believes will help their state but the bill conflicts with what the federal government wants.  Those controlling currency could penalize members of that state in reaction to the bill being passed.

This is an excellent video discussing the possibilities and concerns with a future with digital currencies.

The brave new world has possibilities good and bad that need to be discussed in the public square so Americans’ freedoms are not left unprotected.

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About The Author

Joe Hoft

Joe Hoft is the twin brother of TGP’s founder, Jim Hoft. His posts have been retweeted by President Trump and have made the headlines at the Drudge Report. Joe worked as a corporate executive in Hong Kong and traveled the world for his work, which gives him a unique perspective of US and global current events. He has ten degrees or designations and is the author of three books. His new book: ‘In God We Trust: Not in Lying Liberal Lunatics’ is out now – please take a look and buy a copy..

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Source:

https://www.thegatewaypundit.com/2021/07/warning-future-us-digital-currency-might-give-fed-power-approve-mortgage-based-factors-credit-worthiness/

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