Each week in this section, Chief Investment Strategist Alexander Green responds to reader questions. It's your direct line to the Chief! Have a question for Alex? Drop him a line at mailbag@oxfordclub.com. Reader: Question for Alex. I am very concerned about the digital dollar that is about to be unleashed on the U.S. The implications are staggering, especially since much of my money is in IRAs. The Fed would basically control the value and distribution capabilities, and if tied to digital IDs and health records (which has been suggested), full tracking and control would be in place. What is your opinion and any recommendation as to how to protect what money people have? - B.M. Alex: Despite much fearmongering in some quarters, a digital dollar is not about to be unleashed. Don't get me wrong. I oppose the federal government creating a digital dollar, as it would pose a significant threat to privacy rights. But no decision has been made to create one. Even if one is eventually created, it is unlikely to be widely adopted. And the odds of Uncle Sam forcing adoption are virtually nil. (Law-abiding Americans don't succumb to government surveillance easily.) There are plenty of real risks to worry about in this world. We can safely put this one on the back burner. |
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