Your Cash on Central Bank Digital Currencies (CBDCs)

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Can you identify the defect on this Hundred Dollar note?

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Your Cash on Central Bank Digital Currencies (CBDCs)

The defect here is not a printing error.

To be frank, you experience this defect each day.

The defect of that dollar is that its value is depreciating. If you can remember fuel, food and other man’s essential need around you isn’t as costly as it is now, last year. Consequently, you can buy more stuff with a hundred dollars last year than you can buy now.

Yet, this government-approved note still has a key advantage.

One may still use it to purchase anything of choice, as one preserving his or her privacy.

Other Observations
In recent times we outlined the bitter truth concerning the CBDCs.

Jim Rickard has been following this danger for years.

He said that the disparity between the present system and CBDCs is:

The CBDCs make seizing, enforcement of negative interest rates, and locking account very easy. And, this may be utilized for policy reasons or as an instrument in the hands of an absolute monitoring state.

Although Jim is not a cryptocurrencies enthusiast like most people are, he differentiated this:

  1. Central Bank Digital Currencies aren’t cryptos. CBDCs are digital, they are logged on a file (Preserved by a Central Bank or Ministry of Finance), and it is encoded. However, its likeness to crypto terminates there.
  2. The Central Bank Digital Currency files on which digital currencies are recorded don’t run on the Blockchain. It also isn’t non-centralized, it is centralized.
  3. Lastly, CBDCs aren’t new, they are still the same as the paper money that everyone knows (Australian Dollar, Japanese yen, Pounds).

Sincerely, the Consequences of Central Bank Digital Currencies are numerous.

Your Cash on Central Bank Digital Currencies (CBDCs)

Conclusion

Already, we saw a little of these in China, where protesters’ health code was turned red by the authorities. This happened to them only because they were trying to gain access to their frozen accounts, which holds approximately 178 million Dollars. Any citizen in China can’t have access to mass transportation or eat in a restaurant without a green code.

Central Bank Digital Currency stands for total power, and there is a saying that states “Total power corrupts totally”.

Tech yourself technical analysis: Technical Analysis

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Comments

  1. Mark says:

    A society without physical cash is one where the Government will eventually control everything we can and cannot do.
    In addition to those illustrated here there are dozens of problems. One of the worse omes is that no new political groups will be able to form as you will be prevented from donating to them or at best lose points off your credit score for doing so.
    Spend cash for all purchases you are taking with you and in hospitailty venues and BOYCOTT all cashless businesses.

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