There’s an excellent chance governments worldwide will soon force their citizens to use central bank digital currencies (CBDCs).
CBDCs enable all sorts of horrible, totalitarian things.
They allow governments to track and control every penny you earn, save, and spend. They are a powerful tool for politicians to confiscate and redistribute wealth as they see fit.
CBDCs will make it possible for central banks to impose deeply negative interest rates, which are really just a euphemism for a tax on saving money.
Governments could program CBDCs to have an expiration date—like some airline frequent flyer miles—forcing people to spend them, for example, before the end of the month when they’d become worthless.
CBDCs will enable devious social engineering by allowing governments to punish and reward people in ways they previously couldn’t.
Suppose governments impose lockdowns again for flu season, so-called “climate change,” or whatever pretext they find convenient. CBDCs could be programmed to only work in a geographic area. For example, your payments could be denied if you travel more than a mile from your home during a lockdown.
Suppose the people in charge want to encourage people to take a pharmaceutical product. With CBDCs, they could easily deposit money into the accounts of those who complied and deduct it from those who didn’t.
Undoubtedly, CBDCs will be paired with a sort of social credit system. Such a system is already in place in China today. In the West, it’s likely to come in a different flavor. Perhaps CBDCs will be paired with an ESG score.
Did you commit a thought crime on social media? Or perhaps you read too many politically incorrect articles online? Did you exceed your monthly meat consumption allowance? Then expect some financial punishment thanks to the CBDCs.
CBDCs are, without a doubt, an instrument of enslavement. They represent a quantum leap backward in human freedom.
Unfortunately, they’re coming soon.
Governments will probably mandate CBDCs as a “solution” when the next real or contrived crisis hits—which is likely not far off.
That’s the bad news.
The good news is that CBDCs are destined to fail.
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