We know the hype regarding CBDCs. Many are claiming this is the end. Personally, I think this is overrated. In fact, these are going to be an epic failure.
In this video I discuss some of the technical issues that are facing the idea of a CBDC.
▶️ 3Speak
Wouldn't those CBDCs not just further weaken their Banking sector? I mean, don't those government entities think that a healthy Banking sector is required for a modern economy? I can't follow, look like a highway that should not be built.
The head of the ECB said October this year for CBDC. Not saying it will be so but it’s not just weak talk. It’s then themselves. Governments want control and central banks want control. This is indeed a threat. Especially with our dumbed down population. 2024 will be the year this makes or breaks.
Full Communism down the road, we're at war with Russia but it seems are about to switch sides, what 30 years can do to the world.
For what reason should there be any FUD about whether or not it is possible for CBDCs to be developed in Western countries, when China has already developed its own CBDC?: As China pushes its digital currency plans, the US falls behind
Furthermore, France and China recently used China's new CBDC, rather than the US dollar, to sign a trade agreement for China's liquified natural gas (LNG) to be shipped to France: China & France Complete First LNG Gas Trade Using Chinese CBDC
The sad fact is that CBDCs, which include the use of digital IDs and Social Credit Systems, are already a reality. The issue now is to discuss and debate how we can help to prevent the use of Western CBDCs from being a threat to Life, Liberty, and the Pursuit of Happiness—as China's CBDC already is a threat to the inalienable rights of those in China and abroad.
It is probable that King Macron I's recent public denunciation of Europe being dependent on the U.S.A. was made at the behest of China, whereby France therefore "earned" from China a good CBDC Social Credit System score, before China would agree to sell its LNG to France. France’s Macron Calls on Europe to Reduce Reliance on U.S. for Security
The head of the ECB said October this year it will be ready. Her words bot mine. So definitely not limited to China. The push is coming the next 12-18 months according to them themselves. It’s silly to call this a non threat when most of our population is dumb down shills and would cheer for this if it comes with a monthly payment.
Whoa, thanks for another awesome one @taskmaster4450 , I was trying to guess what you would say about this because been brainstorming how every of all this plans would work
But, there is something I know, banks may face increased competition from CBDCs, which could lead to a decline in their gains and a reduction in the vacuity of credit
The capability of central banks to enforce financial policy could be limited by the use of CBDCs, which could lead to increased inflation or other economic problems, thus it's important that the implicit benefits and downsides of CBDCs are meticulously considered
Thanks @taskmaster4450 for bringing a notice to this, these are vital things that's needed to be considered. I'm @josedam
It would give them more control. Cash is already illegal in Europe (over 1K euro purchases are now illegal) the head of the EXB is on recording saying this October will be the time the CBDC will be decided on and deployed in 2024. This is indeed a threat. To downplay it seems foolish.
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Clip of the ECB head witch herself being recorded saying the CBDC will be here and final decision will be made in October. Interesting clip for this topic indeed regardless of ins opinion. Personally I think it’s a valid threat indeed. But regardless all should hear this clip above. She didn’t know this would be public so it’s quite telling!
These are good points. I think you are assuming a well thought out and orderly roll out. BUt perhaps the givernments think it is simple or perhaps they have been planning this for years. The Euro Bank President said October 2023. She seemed very confident. I understand what you are saying, that it is very complicated. But when you look at Nigeria's CBDC you see that people who are seeking to seize power will do so at the expense and sufferring of their own people.
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