[SeekAndFind]

A literature review from the Federal Reserve in 2021 acknowledged that CBDCs would likely undermine current forms of bank lending and funding. This impact on commercial banks could impede our nation’s credit flow and subsequently hinder economic growth. 

Apart from its potential for economic disruption, CBDC carries ominous implications for personal freedom and financial privacy. A digital currency issued and managed by the central bank would require the collection and storage of personal financial data, potentially including individuals’ spending and transaction history, which could dangerously compromise user privacy.

A 2023 article from the Cato Institute recognizes these risks, stating that “a CBDC would be the largest assault to financial privacy since the creation of the bank secrecy act…” Additionally, Harvard Business Review cited Congressman Tom Emmer in their report on CBDCs, saying that central banks issuing CBDCs would increase their control over money and gain insights to spending while depriving CBDC users of their privacy.

[BigFreakinToad]

thats the whole purpose of it and control of everyone’s money.

[Carriage Hill]

China’s used Digital Currency for 8yrs, to control the population’s social and everyday activities. It’s working there, but there’ll be an uprising when it happens here.

[momincombatboots]

Too late… even legislators and governors in red states are rubber stamping this.

[Vaduz]

Centralized Bank Digital Currency would harm our economy

DUH guess why Biden is pimping the idea it’s the brightest CHECK ENGINE light you’ll ever see.