Donald Trump calls central bank digital currencies a 'very dangerous thing'
02/05/2024 23:01
Former President Donald Trump said that central bank digital currencies (CBDCs) can be a "very dangerous thing," according to a recent interview.
Like most things, trump probably doesn't even know the difference between Bitcoin and a sovereign country based stable-coin. Just like he knows nothing about American Democracy, the rule-of-law, and the U.S. Constitution. Why does anyone even listen to a proven, compulsive, and pathological liar? Probably the same middle-class voters who think he gave them a "big tax-cut" instead of what he really did: a massive tax-cut to the super-rich elites ... like all the super-rich elite lawyers his campaign contributions are going to in order to defend him from a multitude of lawsuits ... some of which he's already been ordered to pay $10's of millions of dollars to settle.
Trump is spot on. CBDC's can and will be very dangerous if they come into existence. Letting the corrupt government and central bank do whatever they please with your hard earned money, having access to, and having the ability to block your access to your hard earned money for whatever reason (justified or unjustified); doesn't sound like a good idea to me and shouldn't to any rational person. This will induce coerced conformity to the agenda of or punishment for non-conformity by the government and central bank.
Old news. We've known about this for some time. Let's do it anyway with centrally monitored currency. Much easier. /sarc
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Citizens placed on black lists for social credit offences were prevented from buying train tickets 5.5 million times. The report released last week said: “Once discredited, limited everywhere”. The social credit system aims to incentivize “trustworthy” behavior through penalties as well as rewards.
www.theguardian.com/...
@Niki Naza The Fed could literally set the savings rate for everyone...or adjust people's wealth to keep pace with inflation. Rather than bailout banks or giant companies, the Fed could backstop citizens etc. Literally wouldn't need banks anymore.
Certainly privacy risks here, but I think a CBDC would augment a paper currency not replace it. There would be benefits to using the CBDC for those who want to and aren't paranoid. It's a good idea, and in the free market of ideas, a lot of people would likely adopt it.