Issuance of central bank digital currencies amounts to default, since the terms of the currency instrument are changed. From MN Gordon at economicprism.com:
Central Bank Digital Currencies (CBDC) are coming. And they’re coming much faster than most people care to think about. Are you ready?
At the moment, roughly 90 central banks – including the European Central Banks and the Federal Reserve – are either experimenting with, or are in varying stages of CBDC implementation. Moreover, these CBDC friendly central banks include all G20 economies. And together, represent more than 90 percent of global GDP.
What’s important to understand is the adoption of a CBDC in your country of residence would accompany the abolition of cash. This would be for your own good, of course. To eliminate nefarious transactions and black markets.
If you value financial privacy and the liberty to spend your money as you please, then the rapidly approaching rollout of CBDCs is a major red flag. Compulsory use of a CBDC, like a digital dollar for example, would give central planners complete oversight and control over your finances.