The debate over Central Bank Digital Currencies (CBDCs) intensifies as concerns about financial surveillance and loss of privacy emerge. President Biden supports CBDCs, while former President Trump opposes them. A study shows 67% of Americans have a negative sentiment towards CBDCs, with the number of countries exploring CBDCs rising to 134 from 35 in 2020. Critics like Dr. Mike Yeadon and Durham Prof. Kevin Dowd warn of potential risks and loss of financial independence associated with CBDCs.
A Central Bank Digital Currency would mean the end of your financial independence, & America already has plans for one underway. Every cent you think you own would ultimately be controlled by government bureaucrats. You wouldn’t actually own a penny to your name. @RealEJAntoni https://t.co/0egvLDKHyB
"If you don’t think the Fed is pursuing a CBDC, think again. The Fed gave this to my staff during a presentation earlier this Congress. They view a CBDC as one of their KEY DUTIES." via House Rep Tom Emmer This is the thing no one is talking about. https://t.co/JqEa5XeVoU
In his soon-to-be-published book "Against CBDCs", Durham Prof. Kevin Dowd summarizes the history of CBDC trials as "a bunch of abandoned experiments, embarrassing flops and monumental exercises in policymaker hubris." CENTRAL BANK DIGITAL CURRENCIES (CBDCs) = BIG BROTHER'S…
The Biden administration sees it as their "key duty" to abandon our core American values and create a surveillance-style CBDC. Let me be clear: A government tool for financial surveillance will NOT happen so long as House Republicans are in the majority. https://t.co/0Pu1FQf28s
President Biden supports and former President Trump opposes a central bank digital currency. Meanwhile, states are now figuring out how to deal with this new money in their laws. @EconWithNick comments: https://t.co/xS9xJMELTJ #CatoEcon @CatoPodcast https://t.co/CLZ4vhJIdo
According to the @AtlanticCouncil, the number of countries exploring CENTRAL BANK DIGITAL CURRENCIES (CBDCs) has exploded from 35 in 2020 to 134 today. I'm on the same page as my good friend & Durham Prof. Kevin Dowd: CBDCs = BIG BROTHER'S PRYING EYES = BAD.
A 2022 @CatoInstitute study found that 67% of Americans held a negative sentiment towards the idea of CENTRAL BANK DIGITAL CURRENCIES (CBDCs). CBDCs = BIG BROTHER'S PRYING EYES = BAD. https://t.co/jZuzC5HITD
Dr. Mike Yeadon, a former vice president at Pfizer: "When we lose cash and you've only got central bank digital currencies (CBDCs)... If they say you can't leave your house more than 5 miles, you try to buy a bottle of water 6 miles from home, you won't be able to." https://t.co/oN8UhhGeJm
If it’s true that the Biden administration now recognizes that the risks of central bank digital currencies (CBDCs) outweigh any purported benefits, it should speak out sooner rather than later. https://t.co/kaawOfaGbg #CatoEcon https://t.co/mezYuax8px