White House Introduces the Joe Biden “U.S. Central Bank Digital Currency”
Key points.
“A United States central bank digital currency (CBDC) would be a digital form of the U.S. dollar. While the U.S. has not yet decided whether it will pursue a CBDC, the U.S. has been closely examining the implications of, and options for, issuing a CBDC”
In other words, “We want to do this but we haven’t figured out how to do it legally.”
“If the U.S. pursued a CBDC, there could be many possible benefits, such as facilitating efficient and low-cost transactions, fostering greater access to the financial system, boosting economic growth, and supporting the continued centrality of the U.S. within the international financial system.”
We already do this crapola.
“However, a U.S. CBDC could also introduce a variety of risks, as it might affect everything ranging from the stability of the financial system to the protection of sensitive data.”
Yeah, what about that?
That’s just a start.
-SB