In his Tom Woods Letter, author Tom Woods suggests that opponents must “get ahead” of the “sinister” plan to institute central bank digital currencies (CBDCs) by opposing them now rather than once they’ve been implemented. CBDCs would give governments an unprecedented amount of control over their populations. As I have written, the institution of CBDCs would be a debacle for Americans. Woods writes:
In Brazil, the new left-wing president is now requiring the children of recipients of the Bolsa Familia welfare program to have been vaccinated.
Whether that requirement includes the Covid shots has not yet been made clear, but with the precedent established, this is a mere detail.
That’s a stark reminder that it’s terrible to be dependent on the state for pretty much anything. Because as time goes on, it is likely to make more and more intrusive demands on us in exchange for its aid.
Just today my friend Mark Jeftovic cited this example in connection with the topic of central bank digital currencies (CBDC).
He was asking, in effect: if a government could use its policy of cash payments to certain groups to bring about behavioral changes in those groups, what is stopping the monetary authority from doing the same thing by means of CBDCs they control?
The architects of these schemes try to pretend that they are responding to a market demand, pointing to the success of cryptocurrencies like Bitcoin as evidence that people are interested in digital currencies.
What people are interested in, however, is not digital currencies as such, but monetary systems outside the control of central banks and national governments. So a CBDC is no answer to what such people seek.
As we’ve seen, a CBDC probably means the end of financial privacy.
But more than that, is it really so unthinkable that a system like this could be manipulated for political purposes, and indeed to punish dissidents?
Read more on this topic here:
- DIGITAL DOLLAR DOOMSDAY: The Wall Street Journal Is NOT Going to Tell You This
- FORCED CASHLESSNESS: The New World Order Is No Longer a Conspiracy Theory
- How Your Survival Guy Feels About Digital Dollars
- The Future of Digital Currencies and the Monetary System
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