The power this could give the govt over citizens is frightening.
It will be a race between total government and oligarch control over you, your labor and your money - and destruction of money and debt collapse of the USA.
I don’t know which wins.
What's a CBDC?
Define your acronyms, Journalism 101 people
Ok..WTH is CBDC?
CBCD - central bank digital currencies
Insanity.
CBDC is going to happen. Either the U.S. gets in early or we get left behind.
i.e. we have to to track your every transaction in order to keep you “free”.
“CBDC could provide the utilities and benefits associated with existing USD stable tokens without undermining the government’s control over monetary policy. “
Well, undermining government control over monetary policy is a feature, not a bug.
They took us off of a gold backed dollar and now the dollar is only backed by the faith in the government. Just wait for the Maricopa audit results to come out and let’s see how much faith in the government is left. No Bitcoin for me, I have been buying silver.
This is bull. Digital Currency is not currency. Its no different than a limited issue print from an artist. If someone creates a piece of art and sells 50 prints, promising to sell no more, thats the same as bitcoin. You may want one. And you may wish to pay a lot for it. But it has no value more than the market wishes to pay. As long as bitcoin stays in the news it will retain value. But like its lessor rivals, that value is based on hype. And that hype may grow just based on the price. Diamonds and Beanie Babies are really no different. At the moment you cannot easily make more bitcoin. But if you can destroy it or copy it, the value will disappear. The futures markets are creating a copy in a since. Like GLD is kind of a copy for gold. That copy will allow governments to manipulate the price.
ACDC CBDC LGBTQ MSNBCABCNBCCNN
“US must win CBDC race to maintain dollar’s global reserve currency status: Federal Reserve Governor”
People won’t have any warning when the collapse is upon us. One morning you will wake up and the headlines will scream “China/Russia currency/digital backed by gold!”
Game over.
There is no mathematical way the U.S. can discharge its debts other than by default or hyper-inflation.
Guess what our new currency will be backed with?
Much of the economy will become barter and gray market.
Digital currency has the ability to be disappeared with one push of a key. As attested to by the 2 brothers in South Africa who have disappeared with billions of dollars worth of other peoples bitcoins.
Ping
Last one I promise for now. It is being talked about a lot. You have just been looking for news in all the wrong places.