December 9, 2023

Will governments around the world impose CBDCs on unsuspecting populace?

Insufficient understanding of CBDC

As Crypto Daily reported a year ago, 83% of respondents poll Research on digital currencies carried out by Economic Impact argues that “greater international cooperation” is needed in order to “legitimize” CBDCs.

One of the questions asked in the survey was about “Barriers to CBDC adoption”. Here, only 27 percent of respondents said the barrier was that they “didn’t know much.”

However, perhaps the most worrisome stats from the survey are as follows:

“More than nine in 10 (93%) now say they agree that central bank digital currency (CBDC) issuance is necessary to create a functioning market for new financial instruments such as digital bonds or other forms of digital assets,”

If one adds that executives are very “pro-CBDC” and “Nearly 87% of respondents strongly agree that consumer demand for CBDCs in their country has increased”, then it becomes clearer (if the survey is to be believed) that the idea of ​​a central bank digital currency is actually popular, at least among those surveyed at the time.

Where are government educational materials on CBDC?

Therefore, the question must be asked: where are all the mainstream media articles or TV debates about the advantages or disadvantages of implementing a CBDC on a national scale, or even as some international financial institutions are talking about – globally?

The most significant change in the monetary system since Bretton Woods has been implemented in several countries around the world and is brewing in many others, with little discussion in mainstream channels.

CBDC – A technology to undo wealth

Rick Rule, CEO of Rule Investment Media and former President and CEO of Sprott US Holdings, said the following about CBDCs on YouTube interview With Mike Maloney:

“The idea that your cash, your savings, exists as a license to the government scares me.”

He added:

If you combine the idea of ​​a technically cancelable currency (however it is held) with artificial intelligence and Chinese technology around what is called a social score or social credit, you have a situation where your savings are a result of the utility you create in society and can be cancelled. “

Rick Ruhl went on to cite how the recent Trudeau government Seize bank accounts of Canadians They support truck drivers with donations. The seizures were illegal and no courts were taken. Rule worries that a CBDC would make such action extremely easy to implement.

Given the government’s lack of any educational content for citizens about the launch of a CBDC, it is imperative that citizens conduct their own investigations into the matter. time is life.

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