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A New System
The Ugly Side of CBDC
Faster stimulus, but at what cost?
In recent weeks, there’s been a sharp uptick in the number of headlines about Central Bank Digital Currencies (CBDC’s). In reading those articles you might see one or two of the potential downsides of CBDC’s mentioned — but I’ve read the white papers and the research papers and I think it’s important to air out all of the dirty laundry before a new version of the dollar gets foisted upon us. Below I include many excerpts from these documents for reference, (emphasis mine) because it’s important to acknowledge that these are actually being discussed and considered.
We’re living in a time when it’s never been more critical for the average consumer to better understand the economy and financial system — and our place in it — because CBDC’s are coming, and they will ultimately affect you. I believe if consumers knew what may come down the road, we would think twice before accepting CBDC into our lives.
If you have doubts about whether or not CBDC’s are coming in the US, please read the following excerpts — which are just a fraction of many:
From June 2020 Senate Banking Committee Hearing:
“The U.S. needs a digital dollar,” said Sen. Tom Cotton (R-Ark.). “The U.S. dollar has to keep earning that place in the global payments system…
