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They are implementing a digital transaction control grid that restricts how you use your money, when, and where. Your money could be disabled beyond a certain distance from your home, or taxes could be deducted directly from your account. This system will likely be overseen by global entities like the Bank of International Settlements, rather than national central banks.

CBDCs (Central Bank Digital Currencies) differ greatly from cash. Unlike cash, CBDCs provide central banks with complete control over regulations and usage. This control is enforced through advanced technology, making a significant distinction from cash.

Losing cash and relying solely on central bank digital currencies would give authorities the power to predict and control our actions. They could prevent us from doing things like buying a bottle of water if it goes against their rules, such as not leaving our house beyond a certain distance. This is why it's important to keep cash. It's concerning that politicians think they have the right to access all our information.

The main difference with a Central Bank Digital Currency (CBDC) is that the central bank will have complete control over the rules and regulations governing its use. They will also have the technology to enforce these rules. This is significant because it sets CBDCs apart from cash.

Digital money offers significant benefits, beyond just being a digital version of physical currency. It allows for programmability, such as central bank currency with expiry dates. In my book, I discuss the potential for a world where the government can restrict the use of central bank money for certain purchases it deems undesirable, like ammunition, drugs, or pornography. This concept has the potential to be both better and darker, but it highlights the power of a central bank digital currency (CBDC).

The speaker discusses the potential for central bank digital currency to enable social controls by linking to credit cards and bank accounts. Dissenters could be silenced by having their accounts shut down. Control could extend to limiting meat consumption through quotas at the cash register. This level of control is likened to living on a "prison planet."

There is a significant difference between cash and Central Bank Digital Currency (CBDC). With cash, we don't know who is using specific bills, but with CBDC, the Central Bank will have complete control over the rules and regulations governing its use. They will also have the technology to enforce these rules. These differences make CBDC distinct from cash.

I am against central bank digital currencies as they can be used for control and power. In China, a low social credit score can restrict your spending ability. The government could limit where your credit cards work, only allowing purchases at nearby grocery stores. This control over spending could prevent travel and purchasing goods outside your local area, causing significant issues for individuals.

The speaker expresses skepticism towards central bank digital currency (CBDC) and questions its purpose. They highlight that existing platforms like Venmo can already perform transactions efficiently. The speaker challenges the notion that CBDC would improve financial inclusion or cross-border remittances, and questions the lack of evidence supporting these claims. They also mention that CBDC could enable monitoring of transactions, imposition of negative interest rates, and direct taxation of customer accounts, which is why China might be interested. However, the speaker questions why the American people would support such measures.

The speaker discusses the purpose of a Central Bank Digital Currency (CBDC), stating it's meant to keep track of how people purchase, save, and work with goods. They acknowledge a report suggesting cautious progress and state the government is proceeding with caution, citing issues like privacy, financial inclusion, limits, monetary policy, and interest. A consultation is underway, and more information will be available tomorrow. The speaker says a CBDC is about being a modern economy that recognizes how citizens want to do business, but it presents challenges that need to be overcome before proceeding. They state they are still in the phase of looking at those challenges.

Digital money offers significant benefits, including programmability and the ability to set expiry dates for central bank currency. In my book, I discuss the potential for a world where the government can restrict the use of central bank money for certain purchases it deems undesirable. This could lead to a better or darker future, depending on one's perspective.

I am against the U.S. Government issuing a digital currency directly to citizens. It would give the government too much power and control, potentially leading to the elimination of cash and complete control over our lives. I warned the people of Italy about this when they were considering vaccine passports and central bank digital currencies. In China, if you don't meet a certain social credit score, the government can restrict your spending abilities. They can limit your credit cards to only work at nearby grocery stores, preventing you from buying gasoline, traveling, or purchasing items and food from other parts of the country or abroad. This kind of government control is concerning and could lead to serious consequences for all of us.

The speaker expresses skepticism about the need for a Central Bank Digital Currency (CBDC). They question what problem a CBDC solves, as they can easily send money with Venmo. They dismiss the arguments of financial inclusion and cross-border remittances, asking for evidence to support these claims. The speaker acknowledges that China may have reasons to implement a CBDC, such as monitoring transactions, imposing negative interest rates, and directly taxing customer accounts. However, they question why the American people would be interested in a CBDC.

The speaker expresses skepticism towards central bank digital currency (CBDC) and questions its purpose. They highlight that existing platforms like Venmo can already perform financial transactions efficiently. The speaker challenges the notion that CBDC would improve financial inclusion or cross-border remittances, as there is no evidence to support these claims. They suggest that CBDC could be used by governments to monitor transactions, impose negative interest rates, or directly tax customer accounts, which is why China may be interested. However, the speaker questions why the American people would need CBDC.

The speaker discusses the potential impact of central bank digital currencies, highlighting concerns about government control, lack of recourse for citizens, and potential manipulation. They also touch on the role of AI in job displacement and the push towards universal basic income. The speaker questions the benefits of central bank digital currencies in addressing issues like crime and terrorism financing. They invite further discussion on these topics in the comments.

Freedom of speech is important, but the freedom to transact is crucial. If the state restricts your ability to buy things using digital currency, it can control your movements without physical barriers. Central bank digital currency can monitor and limit your transactions, making it challenging to buy essentials like food, fuel, or transportation tickets.

"We tend to establish the equivalence with cash, and there is a huge difference there." "For example, in cash, don't know, for example, who's using a $100 bill today." "We don't know who is using a 1,000 peso bill today." "A key difference in with the CBDC is that central bank will have absolute control on the rules and regulations that will determine the use of that expression of central bank liability." "And also, we will have the technology to enforce that." "Those are those two issues are extremely important, and that makes a huge difference with respect to what to what cash is."

Digital money offers significant benefits like programmability and the potential for central bank currency with specific characteristics. However, there are concerns about governments restricting what can be purchased with this digital money, which could impact the integrity and independence of central banks. While there are exciting possibilities with digital money, there is also a risk of technology leading us down a negative path.

There is a significant difference between cash and central bank digital currency (CBDC). With cash, we don't know who is using specific bills, but with CBDC, the central bank has complete control over the rules and regulations governing its use. Additionally, the central bank has the technology to enforce these rules. These differences make CBDC distinct from cash.

There is a significant difference between cash and central bank digital currency (CBDC). With cash, we don't know who is using specific bills, but with CBDC, the central bank has complete control over the rules and regulations governing its use. Additionally, the central bank has the technology to enforce these rules. These differences make CBDC distinct from cash.

Speaker 0: I had a guy who worked, very, very, very high up at Citibank. And he told me around 2008, he said, Glenn, you know, don't worry about the financial system. And I'm like, uh-huh. And he said, you know, we're never gonna go broke. I mean, do you know how much just the national parks are worth? And I looked at him and said, are you seriously telling me that we should commoditize the national parks? And he said, it's gonna happen. And I wonder now if this is what he was talking about. If it was just a digital not actually selling them, it's just a digital commoditization of our parks. Speaker 1: Yeah. So apply this now to the the phrase that we all heard during the COVID era, you'll own nothing and be happy. Well Yes. There's certain people that want to own everything, and that includes things that have never been able to be owned before that were considered things like the public commons, like rivers, lakes, the ocean itself, natural forests, all sorts of it. These people want to put all of that into the financial system, fractionalize it, tokenize it, and sell pieces of it around, use it to speculate on. Mean, it's It's very insane. Yeah. And so, this is just one aspect of digital currency play. Obviously, there's a lot more than that just going on as well. I would argue that a lot of this push, particularly in The US for dollar stablecoins supposedly being better than a central bank digital currency, also falls into this paradigm we talked about earlier of, you know, moving from the public to the private of the public private partnership because a lot of these stablecoin issuers, you know, if the the big concerns about CBDCs was that they're seasable, they're surveillable and they're programmable, Well, all of those three things also can apply to stablecoins. The only difference is that you would have a private company issue it and control it. But we've seen time and again how a lot of these private entities are willing to do that. When contacted, just look at how Bank of America behaved with January 6, people accused of wrongdoing on that day, for You know, they have no qualms in doing that and engaging in those type of activities. And the biggest dollar stablecoin issuer, Tether, which just hired Bo Hynes from the White House, they have openly said that they are a close partner of the US government for dollar hegemony globally and have uploaded the FBI, the Secret Service and other aspects of the US government onto its platform directly and have seized tethers from people just because government told them to, and this was during the Biden administration. So they obviously are willing to do that under any administration, and it's essentially functioning as a de facto public private partnership, even though we're being told it's a it's much better than a CBDC, but in terms of its impacts on civil liberties, you know, that's not necessarily true. So, again, vigilance is is important here.

The speaker begins by noting that digital money offers substantial potential gains beyond merely digitizing physical currency. He highlights that digital money can introduce programmability, enabling features such as units of central bank currency with expiry dates. He references his book to illustrate a scenario in which central bank money could be programmed in ways that influence what can be purchased with it. The speaker describes a potentially better future, but also acknowledges a darker possibility. In a less favorable scenario, the government could decide that units of central bank money may be used to buy certain items while restricting others that it deems less desirable, such as ammunition, drugs, or pornography. He underscores that such capabilities would be very powerful in terms of how central bank money is used. He then emphasizes the implications for central banks themselves. The speaker argues that if central bank money takes on different characteristics across various units, or if central bank money becomes a conduit for targeted economic policies or broader social policies, this could threaten the integrity of central bank money. He extends the concern to the independence of central banks, implying that targeted or constrained use of central bank money could compromise their neutral status. The speaker reiterates that digital money holds wonderful possibilities, suggesting enhancements to monetary systems and policy implementation. However, he cautions that technology also carries a significant risk of steering outcomes toward a less desirable or more constricted use of money, potentially undermining core monetary principles or the perceived neutrality of central banking. In summary, the speaker presents a dual view: digital money can enable innovative features, flexibility, and new policy tools, yet it can also enable highly centralized or targeted controls over purchases and behavior. This duality raises concerns about the potential benefits versus the dangers, particularly regarding the integrity and independence of central banks if their money is used to enforce selective or restricted consumer choices. The overall message is a call to recognize both the transformative promise of digital money and the serious risks that could accompany its deployment.

The speaker explains that there is a significant difference between cash and Central Bank Digital Currency (CBDC). With cash, it is unknown who is using specific bills. However, with CBDC, the Central Bank will have complete control over the rules and regulations governing its use, and the technology to enforce them. This distinction is crucial and sets CBDC apart from cash.

The speaker discusses the analysis of Central Bank Digital Currency (CBDC) and its comparison to cash. They highlight a significant difference between the two: while cash transactions are anonymous, CBDC allows the central bank to have complete control over the rules and regulations governing its use. Additionally, the speaker emphasizes that the central bank will possess the necessary technology to enforce these regulations. These factors distinguish CBDC from cash and make it a unique form of central bank liability.

"We move into this digital currency era where the banks are issuing these stable coins, these deposit tokens that are programmable money." "They're going to be sharing this data in the same database that the CIA and any other intelligence agency can access whenever they want without a warrant." "No more secret FISA courts or you don't need any of that infrastructure anymore. It is the new system." "Retail CBDC is not nearly as common today as wholesale CBDC." "Wholesale CBDC works as this two tier system." "the CBDC really only serves as a means of interbank settlement and isn't public facing at all." "FedNow, for example, of the Federal Reserve, that was launched solely as a means of interbank settlement, really." "When you have people like Trump and Ron DeSantis say no CBDC, they mean no public facing CBDC. They don't mean no wholesale CBDC."