I have long advocated against any move to a central bank digital currency (CBDC). You can read more on that here. Recently, at the Cato Institute, Nicholas Anthony explained that advocates for CBDCs have failed to make their case. He writes: When the market can’t deliver, products fail. When governments can’t deliver, products are forced upon […]
“A CBDC Has No Place in the American Economy”
Originally posted on October 2, 2023. At the Cato Institute, Norbert Michel continues to make the case against central bank digital currencies, telling readers, “A CBDC has no place in the American economy.” He concludes: In the extreme case, when the government is the only provider of a service, dissatisfied customers have no alternative. But even […]
Trump on Digital Currency
You have read about the dangers of a central bank digital currency on YourSurvivalGuy.com: Do You Know the Worst Part about a CBDC? The Subtle Push to Control Your Money Do You Want “New Forms of Money?” Is the Fed about to Launch a Financial “Death Star?” How Your Survival Guy Feels About Digital Dollars […]
Digital Dollars: A Warning Where You’re the Prey
In my conversations with you, you voice your concerns about the digitization of the dollar. Clearly, there are publications out there warning the sky is falling. It’s unsettling at best. Then, over the holidays with your family and friends, you bring up the subject, and the person you’re talking with doesn’t have a clue. After […]
Were Nigerians Forced to Accept a CBDC?
At the Cato Institute, Nicholas Anthony suggests that Nigerians have been forced through some level of government subterfuge to accept a central bank digital currency (CBDC). He writes: Late last year, the Nigerian government caused a cash shortage for the country’s 200 million citizens that led to protests, riots, and unrest. Since then, the Central […]
The Constitutional Case Against CBDCs
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 […]