Alarm: Central Banks Create DIGITAL TOTALITARIANISM Through CBDCs

Aaron Day sounds alarm: Central banks create DIGITAL TOTALITARIANISM through CBDCs

Ramon Tomey

• Several nations, particularly Vietnam and Kuwait, are implementing central bank digital currencies (CBDCs) tied to comprehensive digital ID systems, raising significant privacy concerns and sparking debate.
• Critics, including privacy advocate Aaron Day, argue that CBDCs are setting the stage for a global surveillance state where all financial transactions are monitored and citizens' behavior could be linked to a social credit score. Refusal to comply could result in severe consequences.
• Countries like Vietnam and Kuwait are mandating citizens to register their biometric data (e.g., fingerprints) for access to bank accounts and government services. Non-compliance can lead to the loss of these services.
• While supporters claim these measures enhance financial inclusion and security, critics view them as steps toward greater state control over financial behavior. The trend is growing, with 134 countries exploring CBDCs, and 11 already launched.
• Privacy advocates and concerned citizens are calling for reassessment of these policies, emphasizing financial privacy as a fundamental human right. The fight for financial privacy is intensifying globally as more countries adopt these systems.

In a troubling development, several nations are implementing central bank digital currencies (CBDCs) linked to comprehensive digital ID systems, raising serious concerns among privacy advocates and citizens alike.

Critics argue that these initiatives are laying the groundwork for a global surveillance state. Individuals who refuse to comply could face severe consequences.

"The whole point of what's going on with CBDCs is a movement toward a single, global digital currency and a complete surveillance state," Day told the Health Ranger Mike Adams, who was the program's guest host for the episode. "All of our transactions are monitored and our behavior is tied to a social credit score."

These concerns are backed by recent developments in countries like Vietnam and Kuwait, where citizens are being compelled to register their biometric data. Non-compliance could result in the loss of access to bank accounts and government services.

In Vietnam, starting Jan. 1, 2025, bank accounts not reconciled with biometric data will have their online transactions halted. This push for a cashless society aims to enhance financial inclusion and security, according to supporters. Critics, however, view it as a slippery slope toward more pervasive state control over financial behavior.

Kuwait has adopted a similar approach, with the government announcing that all citizens and expatriates must provide biometric fingerprints or risk having their bank accounts and government services suspended by Dec. 31. Since 2016, the country has been rolling out the biometric fingerprinting program, with political leaders setting an example to emphasize compliance.

The push for mandatory biometric enrollment in these countries is part of a global trend. One hundred thirty-four countries representing 98 percent of global GDP are exploring CBDCs. Eleven countries have already launched CBDCs, with more expected in the coming years.

In Vietnam, the VNeID biometric ID app is being developed into a "super app" that integrates various features, including medical ID and potentially a social credit score. The app was originally developed during the Wuhan coronavirus (COVID-19) pandemic but could eventually extend far beyond health checks.

The carrot-and-stick approach used by banks in Vietnam to encourage biometric registration, which includes offering financial rewards and prizes, further underscores the coercive nature of these measures. Citizens who refuse to comply face significant penalties.

As the rollout of CBDCs and digital ID systems accelerates globally, privacy advocates are calling for a reassessment of these policies. They argue that financial privacy is a fundamental human right. "We need to take our privacy back and reassert privacy as a fundamental right," Day said.

The rapid rollout of CBDCs linked to digital ID systems in the two countries raises critical questions about individual privacy and financial freedom. As governments and central banks push citizens to adopt these new systems, critics such as Day warn of a surveillance state where every transaction and behavior is tied to a digital score.