7 Comments

1. Catherine, I’m wondering how the passage of the “Genuis Act” is going to impact the plans for State Sovereign Banks. I guess the question in my mind is are we going to be able to distinguish between the Stablecoin dollars and regular dollars when doing digital transactions.

   Is this a way to transition the entire financial system until there is no cash or will there be two separate classes of dollars and for the time being will we be able to chose? This looks like a tsunami that will take over the whole system eventually.

   Please correct me if I’m am wrong. I’m trying to visualize the rollout and its impact.

   1. Freedom vs. Tyranny…what will happen? That is what we are working to invent…keep doing everything you can!

2. I would add to my previous question, in the future could the rollout of Stablecoin eventually cause physical dollars to go away. If trackable, seizable currency is being put into the system do you envision a time when “normal dollars” are just done away with and how would that happen? When they rolled out the euro, there was a cutoff date where the local currencies were no longer accepted by business and could no longer be exchanged at the bank. I always assumed that that was the model for rollout of a global currency.

3. Great chat this week! Catherine, you’ve mentioned the potential of private equity sticking their straw into the 401K’s of the general population. This has been a personal fear of mine for quite some time. Friends used to laugh at my concern but they aren’t laughing any more. Many investment brokers offer a choice as to how you want to allocate your 401K funds or IRA funds and usually it’s stock options which are offered. Would private equity be offered as an option of choice or is it a straight plunder approach? Do you think this would extend to Reg. IRA’s or Roth IRA’S too, whose funds originally accrued through an employer’s 401K offering? Thanks, keep up the great work and keep subscribers informed on the class
   you are developing.

   1. Will address in Ask Catherine this week, Catherine. Excellent question.

4. Regarding Question 6:
   Not everything is really clear for me but that sounds like forcing the users/clients to use MFA (Multi Factor Authentication).
   My job is cyber security and using MFA makes total sense, because in general users are not using password managers software and their passwords are easily guessable (dictionary or brute force attacks).
   Without going into too much details – it is a great idea to use Authenticator app, but do not install it on your every day phone, buy cheap second hand phone, something below $100, no SIM card needed, just internet connection. Are you away from Wifi? Then use Hotspot from your everyday phone.
   Personally I do have a number of phones, all second hand below $100, and Authenticator, online banking etc is on one phone without SIM card. Everyday phone (reflashed with custom firmware and degoogled, also <$100) is only for texting, calling and Telegram IM.
   No, I'm not iphone person.

   1. Thanks!

Comments are closed.