TL;DR
Full Story
You recognize these recurring nightmares all of us have?
The one the place all of your family and friends are caught inside a burning constructing, whereas nobody is heeding your calls that will help you assist them?
No? Simply us. Bizarre.
Nicely, we really feel an identical type of panic once we take into consideration Central Financial institution Digital Currencies (CBDCs).
For those who’re unfamiliar with the concept of CBDCs, the fundamental gist is that this:
It’s a authorities owned/issued US greenback stablecoin.
Which, on the floor, sounds innocent — nevertheless it opens the door for some fairly dystopian ideas to weasel their manner into our actuality.
The most important and most regarding being:
A centralized programmable cash would enable the federal government to primarily ‘swap your cash off’ (to not point out monitor each cent you earn/spend without having to serve your financial institution a warrant).
We’re not saying they’d, simply that they may — and that’s scary sufficient by itself.
The excellent news is:
Congress is preventing it! In truth the U.S. Home simply handed a invoice that seeks to ban CBDCs all collectively.
Now, it nonetheless must make it via the Senate, which is a taller job by comparability — nevertheless it’s value celebrating regardless.
Trigger it lastly looks like somebody (congress) is acknowledging the burning constructing that’s full of our family and friends (CBDCs).
