At the Cato Institute, Norbert Michel explains the current argument taking place over the constitutionality surrounding central bank digital currencies and the “digital dollar.” He writes: This new Forbes post provides a brief overview of my testimony last week in the U.S. House of Representatives at a hearing titled Digital Dollar Dilemma: The Implications of a Central Bank Digital Currency and […]
CATO INSTITUTE: Central Bank Digital Currencies Are a Threat to Freedom
Originally posted February 24, 2023. According to a new study by the Cato Institute, central bank digital currencies “would provide COUNTLESS OPPORTUNITIES for the government to control citizens’ financial activity.” The authors, Norbert Michel and Nicholas Anthony, explain how such financial control might occur, writing: FREEZING OR SEIZING ASSETS Governments have long recognized that freezing someone’s financial resources is one […]
CBDCs “Should Deeply Alarm All of Us”
At The Economic Collapse, Michael Snyder explains why the development of central bank digital currencies (CBDCs) should be deeply alarming for everyone. He writes: Central bank digital currencies are feverishly being developed all over the globe, and this is something that should deeply alarm all of us. For a moment, I would like for you […]
DeSantis Calls CBDC Central Authority an Obvious “Wolf”
In a recent interview with John Stossel, Gov. Ron DeSantis explained that some wolves come dressed in sheep’s clothing, so you don’t see them until it’s too late. Others are obvious. DeSantis says the problems with the central authority granted by central bank digital currencies (CBDCs) are obvious. In his words, “This is a wolf […]
CANNIBAL CURRENCY: Will a CBDC Eat the Banking System?
In a post warning that introducing a central bank digital currency (CBDC) would be a catastrophe for the banking system, Cato Institute policy analyst Nicholas Anthony quotes Federal Reserve governor Michelle Bowman who recently warned there are “significant risks in adopting a CBDC that cannibalizes rather than complements the U.S. banking system.” Anthony writes: Since […]
CBDCs Not “Just Another Form of Money”
At the Cato Institute, Norbert Michel and Nicholas Anthony explain that a “CBDC (central bank digital currency) is not ‘just another form of money,’ as some of its supporters have claimed.” No other form of money gives governments the ability to control what you spend your money on, how much you spend, or even to take money […]
Americans Scared of CBDC Control of Their Money
When asked if they supported the idea of the government monitoring transactions via a Central Bank Digital Currency, 68% of Americans opposed it. The Cato Institute reports: The survey investigated how Americans navigate potential costs and benefits associated with the United States adopting a central bank digital currency. Overwhelming majorities would oppose the adoption of a CBDC if it meant that […]
FED’S KASHKARI: “No Evidence” CBDCs Will Improve Monetary System
Minneapolis Fed President Neal Kashkari offered a surprisingly blunt and critical assessment of central bank digital currencies during a Q&A following his speech at the Minnesota Transporation Conference on May 15. Derek Andersen of Cointelegraph reports Kashkari’s remarks, writing: “We’re studying it,” Kashkari said of CBDCs, adding that the Fed believes it would take an […]
DeSantis Bans the Use of CBDCs in Florida
You know that the prospect of a cashless society is a debacle for Americans. Back in March, I wrote to you about Governor Ron DeSantis’s proposal to ban the use of central bank digital currencies (CBDCs) in Florida, and now the governor has signed the effort into law. Fox News reports: The team for Florida Gov. […]
Why Cash Is Freedom
Prevent Total Monitoring/Control over Money and Energy Recently Dick and I went to lunch on Bowen’s Wharf. Like many cities, large and small, parking is often costly or non-existent. I decided to bite the bullet and electronically pay for a parking space. When asked if I’d want a receipt, I said no because the machine […]
