What is CBDC (Central Bank Digital Currency) and why is it a dangerous idea?
The following conversation with the author of The Road to Fascism, Simon Elmer, is required listening.
Central Bank Digital Currency and digital ID are tightly interwoven and are profound threats, not only to the freedom and privacy of individuals, but are blatant threats to the already-questionable national sovereignty of countries.
To be clear, a sovereign state is a politically independent entity with a defined territory, a functioning government, and the power to make and enforce laws within its borders. It holds supreme authority over its affairs and is not subordinate to any higher authority. Sovereignty fosters self-determination, enabling states to pursue their own economic, social, and cultural development, and participate as equals in the global community.
NATO (and Washington) don’t like sovereign states.
As a reminder, fiat currency is the money we use every day, like the US dollar or Euro. It’s issued and regulated by the government and central banks. Fiat money is physical, meaning it exists as paper bills and coins. It is created out of thin air and has value because the government declares it as legal tender and, as such, users trust and accept it as a medium of exchange.
Digital currency is really just an electronic version of the aforementioned. Credit cards and Apple Pay are examples.
Currently being rolled out globally, CBDCs are a type of digital currency issued directly by central banks. They are programmable and linked to one’s digital ID (also being rolled out globally), and are a complete violation of individual privacy.
Take a listen to what Agustín Carstens, the head of the Bank Of International Settlements (BIS), said in an interview about CBDCs. (The BIS is sort of like the central bank of central banks.)
Simon broke apart CBDC, digital ID and branched out into related talking points such as the biosecurity state, fascism, totalitarianism and how we can push back.