One of the most potentially far-reaching trends in the financial landscape right now is the imminent roll-out of Central Bank Digital Currencies (CBDCs), and the parallel attacks which central bankers are waging on private digital currencies and tokens as they tee up the launch of their CBDCs. First some clarifications. While the majority of central bank issued currencies (fiat currencies) in existence around the world are already in digital form, a fiat currency held in digital form is not the same as a Central Bank Digital Currency (CBDC). A CBDC generally refers to electronic or virtual central bank (fiat) money that is created in the form of digital tokens or account balances which are digital claims on the central bank. CBDCs will be issued by central banks and will be legal tender. CBDCs are not just a buzzword or a hazy innovation that may appear sometime in the distant future. They are actively being developed now, and in widespread fashion. 5 central banks have already launched a CBDC, 14 have a CBDC in pilot, 16 have a CBDC in development, and another 32 central banks are at the research stage with their CBDC. That makes 67 central banks (countries in total). Although central banks will claim that they are introducing CBDCs for reasons such as improving payments efficiency, boosting financial inclusion for the unbanked and tackling illicit transactions, their real motivations, as always, are for surveillance and control. Surveillance of a population via complete visibility into financial transaction flow and user identities, and centralized control of the money supply within a cashless financial system. Think China’s social credit system on a global dystopian scale, where vax passes evolve into digital IDs and digital IDs link to CBDC issuance and use. In fact, the entire coercion around implementing vaccine passports and digital IDs looks to be a pre-planned stepping stone for the roll-out of central bank digital currencies and global social credit systems. https://www.bullionstar.com/blogs/ronan-manly/central-bank-digital-currencies-a-future-of-surveillance-and-control
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