I was labeled a nut when I brought that up last spring on a thread here. They will do everything you say, plus they will be able to charge negative interest rates on your savings to force spending if they think that is best for the economy. There is push back against this, but if they start making it a requirement for stimulus payments or government benefits, it will get accepted.Some interesting arguments on both sides here. There is something we should all be considering as it seems we may be getting close to the day when our monetary systems will be transitioned to digital only currency systems.
This is something that central banks and governments intensely desire. Should this come to pass, the individual won’t be able to sell an old pair of shoes in a garage sale without that transaction being potentially taxed. Once cash is taken out of circulation and all transactions in local currencies are through the respective central bank digital currency system (Fedcoin?) there will be no limits to what will be taxable.
And that’s just one aspect of control such a system could place on its society. I only bring this up because I wonder how many people are even aware of what is in the works.
The infrastructure is in place and several commercial banks are currently testing it with business transactions. Unless you expect to leave this earth in the next few years, the probability it will become a reality in your lifetime is very high.I'm glad to report that I'll be dead before this becomes a reality!