Central Bank Digital Currencies (CBDCs)

[timsk]

Central Bank Digital Currencies (CBDCs) are being mentioned increasingly on here - and other platforms of course - but, as far as I can tell, T2W doesn't have a bespoke thread devoted exclusively to them. Until now!

So, this is the place to post anything and everything related to CBDCs, along with your opinions about them. Are they simply a way to make financial transactions quicker and easier which will benefit everyone - or is there a more sinister side to them? Anyone who reads my posts in other 'hot potato' topics in The Foyer will know that I'm a full blown conspiracy theorist (or, as I consider myself - a red pilled, eyes wide open truth teller) who fears the worst!

 

[timsk]

The video below sums up my fears pretty well.
NB: The news clips are dramatisations using an actor.
Enjoy . . .

Johnny's Cash and The Smart Money Nightmare

Original Source: https://www.richplanet.net/richp_genre.php?ref=300&part=1&gen=99

odysee.com

 

[Rufus_Leakey]

The video below sums up my fears pretty well.
NB: The news clips are dramatisations using an actor.
Enjoy . . .

Johnny's Cash and The Smart Money Nightmare

Original Source: https://www.richplanet.net/richp_genre.php?ref=300&part=1&gen=99

odysee.com

So, I guess the fear is central bank digital currencies could be like China's social credit system on steroids where the government has much more control over everyone's lives.

I personally don't see a great need for central bank digital currency, but I'm sure my opinion won't count for much with my country's government.

 

[timsk]

So, I guess the fear is central bank digital currencies could be like China's social credit system on steroids where the government has much more control over everyone's lives.

Hi R_L,
Correct. And it's not often I say that in response to one of your posts!

CBDCs linked to a social credit system like China'a is the dream ticket for every government - regardless of it's political hue. It's why I believe that traditional left Vs right politics, Tories Vs Labour and Republican Vs Dems etc. is history - in as much as it'll make precious little difference which party is in power. They'll all roll up their sleeves with glee and use these new tools to herd us all into whichever pen suits them. In ten years time - maybe sooner - elections will be fought over which party awards the greatest amount of social credit - and/or digital £/$s into our electronic wallets. That's why there was such a push to get vaccine passports established before the whole edifice of the pandemic and 'safe & effective' vaccines collapsed in disarray. The passports use the exact same technology as the Chinese social credit system. They failed on their first attempt, but it's just a temporary setback, no doubt. Governments around the world will try again and, sooner or later, they'll be successful. A dystopian nightmare awaits us all, IMO. It's not a question of 'if', more a case of 'when'.

I personally don't see a great need for central bank digital currency, but I'm sure my opinion won't count for much with my country's government.

There may not be a need for it, but it's happening anyway. And you're quite correct that your opinion won't count for much with your government, just as mine won't count for much with mine!
Tim.

 

[Quantt]

interesting, never heard that one...