You wonder legitimately. CATO Institute is an American libertarian think tank I'm sure you're familiar with. It published a February 2023 study revealing the risks of CBDCs. The following are highlights from that study: 1. Obviously, China would do it, NOT THE AMERIAN PEOPLE. FYI, due to fundamental threats to the American economy, policy analysts, industry reps, and EVEN GOVERNMENT OFFICIALS themselves are pushing back against CBDCs; 2. Senator Ted Cruz said, "A CBDC would allow the government to spy on us. Congress needs to stop the Fed for developing a CBDC now!"; 3. CBDC offers countless opportunities for the government to control citizens' financial assets; 4. CBDCs are a nightmare for civil liberties. Government becomes the center of every transaction, giving governments visibility into financial transactions and the ability to revoke anything, thus enabling them to target what people can own and what people can do= exact opposite of the purpose of cryptocurrency technology; and 5. Since all transactions go through a central authority, if it is compromised by an attack, the entire network will be disabled. IT IS THE 5TH highlighted risk that has government officials from both parties, including swamp creatures, pushing back against it.
Thanks for your reply and for the additional info. There might be some kind of technology solution for an attack that puts the entire network at risk. Something about distributing eggs among several baskets. In my opinion, what elected reps primarily need to be thinking about is the effect that CBDC will have on their status as useful figurehead puppets for the billionaire oligarchs.
At the moment the overlords are spending a lot of money on bribery and intimidation to get the laws and policies they want. They don't like spending money. Put all elected reps under the CBDC umbrella and, voila, no more bribery money needed. Politician not toeing the line, politician loses personal financial transaction privileges.
That is, if elected politicians are even needed anymore once CBDC and Digital IDs are implemented. Who needs new legislation when you have ruthless CBDC control?
I appreciate your reply and recognize the cynicism in your ending rhetorical question. I read that in late February of this year, US Congressman and majority House whip Tom Emmer introduced a new bill seeking to block the Federal Reserve (the Fed) from issuing a central bank digital currency (CBDC). Indeed, if the bill is successful, it will dent the hopes of the United States to roll out a CBDC, which has dominated the debate on crypto regulations. Notably, the Fed has not made it clear regarding unveiling CBDCs, but players in the technology as well as banking sector view it as an ideal move to counter the growth of cryptocurrencies such as Bitcoin (BTC)and Ethereum (ETH). At the same time he introduced the bill Fed chair Jerome Powell stated that a CBDC pegged on the U.S. dollar would significantly sustain the dollarтАЩs global dominance. Overall, more global jurisdictions are increasingly researching on CBDCs. I certainly haven't seen or read a word about this.
I believe FedNow lies on the path toward CBDC. FedNow doesn't appear to have garnered much meaningful resistance. Certification of participant institutions began earlier this month.
A number of state legislatures are cranking up opposition to CBDC as well. You're right, over 100 countries are somewhere on the journey to CBDC. A handful have already implemented it.
CBDC represents a redefinition of the word "money". It is essentially a programmable token that will be declared "legal tender", thereby forcing merchants to accept it when offered as payment. I think it very likely that government payments such as tax refunds, employee paychecks, and social security benefits will eventually be accessible only via one's personal CBDC account at the central bank (or one of its several branches), thus "nudging" the public into acceptance. CBDC and Digital IDs together represent the complete loss of financial transaction freedom, and therefore the complete loss of personal freedom in general. If implemented successfully, it will literally be "game over".
Catherine Austin Fitts, John Titus, economist Richard Werner, and many others have described the threat posed by CBDC. I think it's our #1 threat. Look for Episode 108 at peakprosperity.com titled "Hello CBDC's, Goodbye Freedoms!", in which Chris Martenson lays out the basics and describes the current implementation status (Note: his presentation style is a little "folksey" but he knows what he's talking about).
I wonder how many of those elected Democrats (aka, Globalist foot soldiers) will be spared once CBDC comes calling?
You wonder legitimately. CATO Institute is an American libertarian think tank I'm sure you're familiar with. It published a February 2023 study revealing the risks of CBDCs. The following are highlights from that study: 1. Obviously, China would do it, NOT THE AMERIAN PEOPLE. FYI, due to fundamental threats to the American economy, policy analysts, industry reps, and EVEN GOVERNMENT OFFICIALS themselves are pushing back against CBDCs; 2. Senator Ted Cruz said, "A CBDC would allow the government to spy on us. Congress needs to stop the Fed for developing a CBDC now!"; 3. CBDC offers countless opportunities for the government to control citizens' financial assets; 4. CBDCs are a nightmare for civil liberties. Government becomes the center of every transaction, giving governments visibility into financial transactions and the ability to revoke anything, thus enabling them to target what people can own and what people can do= exact opposite of the purpose of cryptocurrency technology; and 5. Since all transactions go through a central authority, if it is compromised by an attack, the entire network will be disabled. IT IS THE 5TH highlighted risk that has government officials from both parties, including swamp creatures, pushing back against it.
Thanks for your reply and for the additional info. There might be some kind of technology solution for an attack that puts the entire network at risk. Something about distributing eggs among several baskets. In my opinion, what elected reps primarily need to be thinking about is the effect that CBDC will have on their status as useful figurehead puppets for the billionaire oligarchs.
At the moment the overlords are spending a lot of money on bribery and intimidation to get the laws and policies they want. They don't like spending money. Put all elected reps under the CBDC umbrella and, voila, no more bribery money needed. Politician not toeing the line, politician loses personal financial transaction privileges.
That is, if elected politicians are even needed anymore once CBDC and Digital IDs are implemented. Who needs new legislation when you have ruthless CBDC control?
I appreciate your reply and recognize the cynicism in your ending rhetorical question. I read that in late February of this year, US Congressman and majority House whip Tom Emmer introduced a new bill seeking to block the Federal Reserve (the Fed) from issuing a central bank digital currency (CBDC). Indeed, if the bill is successful, it will dent the hopes of the United States to roll out a CBDC, which has dominated the debate on crypto regulations. Notably, the Fed has not made it clear regarding unveiling CBDCs, but players in the technology as well as banking sector view it as an ideal move to counter the growth of cryptocurrencies such as Bitcoin (BTC)and Ethereum (ETH). At the same time he introduced the bill Fed chair Jerome Powell stated that a CBDC pegged on the U.S. dollar would significantly sustain the dollarтАЩs global dominance. Overall, more global jurisdictions are increasingly researching on CBDCs. I certainly haven't seen or read a word about this.
I believe FedNow lies on the path toward CBDC. FedNow doesn't appear to have garnered much meaningful resistance. Certification of participant institutions began earlier this month.
A number of state legislatures are cranking up opposition to CBDC as well. You're right, over 100 countries are somewhere on the journey to CBDC. A handful have already implemented it.
CBDC represents a redefinition of the word "money". It is essentially a programmable token that will be declared "legal tender", thereby forcing merchants to accept it when offered as payment. I think it very likely that government payments such as tax refunds, employee paychecks, and social security benefits will eventually be accessible only via one's personal CBDC account at the central bank (or one of its several branches), thus "nudging" the public into acceptance. CBDC and Digital IDs together represent the complete loss of financial transaction freedom, and therefore the complete loss of personal freedom in general. If implemented successfully, it will literally be "game over".
Catherine Austin Fitts, John Titus, economist Richard Werner, and many others have described the threat posed by CBDC. I think it's our #1 threat. Look for Episode 108 at peakprosperity.com titled "Hello CBDC's, Goodbye Freedoms!", in which Chris Martenson lays out the basics and describes the current implementation status (Note: his presentation style is a little "folksey" but he knows what he's talking about).