Central bank digital currencies - an evil beyond evil

Table of Contents

• Poor knowledge of CBDCs
• Where is the government educational material on CBDCs?
• CBDCs - a technology to cancel wealth

Will governments across the world inflict their CBDCs on their unsuspecting populations?

Poor knowledge of CBDCs

It was reported by Crypto Daily a year ago that 83% of respondents to a Crypto.com survey on digital currencies that was carried out by Economic Impact thought that “greater international cooperation” was needed in order to “legitimise” CBDCs. 

One of the questions asked in the survey was about the”barriers to CBDC adoption”. Here, only 27% of respondents said that a barrier was that they are “not well understood”.

However, probably the most concerning data that came out of the survey was the following:

“More than nine in ten (93%) now say they agree that issuance of central bank digital currencies (CBDCs) is necessary to establish a functioning market for new financial instruments such as digital bonds or other forms of digital assets,” 

If one adds that executives were very “pro CBDCs” and that “nearly 87% of all respondents strongly agreed that consumer demand for CBDCs has increased in their country”, then a clearer picture emerges (if the survey is to be believed) that at least among the respondents at the time, the idea of a central bank digital currency was actually welcomed.

Where is the government educational material on CBDCs?

Therefore, the question has to be asked: Where are all the mainstream media articles or televised debates on the advantages or disadvantages of implementing CBDCs nationwide, or even as is being talked about by some international financial agencies - worldwide?

The most important change to the monetary system since Bretton Woods is already being implemented in several countries across the world, and is being developed in many others, and there is hardly a ripple of discussion in mainstream channels.

CBDCs - a technology to cancel wealth

Rick Rule, CEO of Rule Investment Media, and ex-president and CEO of Sprott U.S. Holdings, had the following to say on CBDCs in a YouTube interview with Mike Maloney:

“The idea that your cash, your savings, exist as a licence from your government, is terrifying to me.”

He added:

If you combine the idea of a technological cancellable currency, however it’s held, with artificial intelligence and the Chinese technology around so-called social scoring or social credit, you come to a circumstance where your savings, which are the result of the utility that you created in society, can be cancelled.”

Rick Rule went on to cite the recent example of how Trudeau’s government had seized the bank accounts of Canadians who were supporting the truckers with donations. The seizures were illegal and without recourse to the courts. Rule’s fear is that CBDCs would make this kind of action incredibly easy to implement.

Given the lack of any educational content from governments to citizens on the roll-out of CBDCs it would behove the citizens to make their own investigations into the matter. Time is of the essence.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.