FED CBDC TAKES CUE FROM ALTCOINS, STARTS BURNING US DOLLAR …

FED CBDC TAKES CUE FROM ALTCOINS, STARTS BURNING US DOLLAR SUPPLY

In crypto, scarcity rules! You may have heard the phrase “there will only ever be 21 million.” This has been used for a decade by crypto pumpers to imply scarcity makes something more valuable than abundance. Although examples abound that this reasoning is flawed such as with basic necessities like air and water (do you want more air or less air? would you prefer more drinkable water or less?), debates about supply and demand aka “tokenomics” are still all the rage.

You may have heard, “Ethereum can't work as a currency because it has unlimited supply” or “the fed is debasing the currency by printing more dollars.” In fact, the premise of Bitcoin Core (BTC) as a “hedge against inflation” or “hard money” is entirely built on a philosophical foundation that the FED will continue to print unlimited dollars. Moonbois claimed this will drive the price of everything up; a contrast well played over the years by marketeers of a fledgling crypto industry.

But what happens when the narrative is reversed and the FED starts burning the US Dollar supply? We are about to find out! In a joint press conference today, President Biden has given his blessing to Jerome Powell's new, bold CBDC plan called Operation: Kill Inflation.

"We are the new alt coin and it's time for a controlled burn," said Powell.

Earlier last month, developers of Binance and LUNA CLASSIC altcoins had been invited to a roundtable with the President and Fed chiefs. Developers from Binance Smartchain had solved the supply/demand dilemma long ago (in crypto terms) by maintaining a central authority to “burn” supply of tokens. Binance Smart Chain projects like Shibazilla or Elonshugenutscoin can permanently remove unsold supply of a token from circulation if the price drops to the dissatisfaction of holders.

Devs at LUNC had taken this concept a step further, retaining a centralized authority to both burn and mint token supply in real time based on market conditions. The collapse o their stable coin provided key insights as to what to avoid in the CBDC's design. In theory, burning and minting could be done manually, by algos or even artificial intelligence.

Developers from both ecosystems discussed the “possibilities and threats” of cryptocurrency with President Biden. According to an anonymous source, President Biden's team also (conveniently) wanted something trendy to turn around slipping poll numbers since single handedly wrecking 401ks and gas prices across the nation.

Our inside source says Cabinet members were firm with the President that Elon Musk's attempt to build a real civilization that travels through space, accepting cartoon dog money to build the rocketships, could put a nail in his Presidency's coffin if he did not make bold moves.

In response, the President applied what pressure he could to convince the Fed to work with him on an ambitious economic agenda. Details are emerging of the resulting Operation: Kill Inflation but here are some the highlights:

1. Once the dollar goes digital, the Fed is to begin immediately torching one dollar for every dollar collected in taxes until there are only 21 million digital US Dollars total. The Fed believes this will reduce the circulation of dollars by a significant percentage per year until the costs of goods and services are insanely low due to the overproduction of goods and services against the limited supply of dollars.

2. As deflation occurs, if the price of gas hits .99 cents per gallon before the total USCBDC circulation hits 21 million, the President can ask the Fed to revisit the burning program or adjust its parameters.

In summary, both the President and Mr Powell stated that the HODLING of digital USD caused by the knowledge that there will only ever be 21 million USD someday should cause an overabundance of goods and services in the free market, making them affordable for everyone.

They also believe this will get the price of BTC back under control, since inflation had hit cryptocurrencies the hardest, pushing prices as high as $67,000. They foresee the future price of BTC being less than a dollar.

"This should lead to steep discounts on everything and remove wage pressures on US businesses," the President confirmed. President Biden stated to the press corp that he is confident this will completely wreck crypto generally, ensuring his legacy as "the guy who made the digital US Dollar the dominant currency of Earth and all of Time and Space."

Your move crypto!

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