Robert Shiller is one of the nutty professors giving President Pudding Head economic advice. Like almost all these frauds, Shiller gives to ACTBLUE, the fund for Democrat hacks. He handed $1,000 each to Biden for President and the Biden Victory Fund. Shiller really loves Hillary, she grabbed $7,400 from Shiller.
Here he is with Klaus Schwab.
Shiller has long been designing a digital currency to solve the inflation problem. He wants big data to create the perfect electronic money by basing currency units on people's economic needs.
The plan is for sophisticated software to aggregate the price of typical consumer’s daily purchases and a basket of their typical purchases chosen so that the price of the basket in dollars rises with inflation.
Shiller wants to introduce this new digital currency, called a ‘basket’, into the US economy. It will be free and will protect the value of people's money that would be eroded by inflation.
It works similar to the Unidad de Fomento, a non-circulating currency used in Chile. It is a shadow currency. There are no UF coins or notes circulating in the Chilean economy. It is a purely abstract unit-of-account, totally divorced from any medium-of-exchange.
Like Chile, the US government would adopt a shadow currency Americans will use for their transactions.
Now Dementia Joe has signed an executive order entitled "Executive Order on Ensuring Responsible Development of Digital Assets". This order, directs information gathering on the affects and plausibility of developing and implementing a United States Central Bank Digital Currency (USCBDC).
The very thing we've all seen coming down the pike is finally here. We're starting to say goodbye to cold hard cash. Think of the abuse of power this kind of system could bring about.
I'm pulling out all my cash at the slightest whiff of a government shadow currency being implemented.
Don't panic, but be prepared. I foresee a bank run before the end of President Houseplant's term.