“Your money will no longer be yours, but more like a credit or account that you will have with the government and that you will only have access to on condition that you follow the rules, whatever they might be.” From Robert Williams at gatestoneinstitute.com:
“We are talking about a very dystopian future if we allow central banks to issue central bank digital currencies. You know, even if the original designers and heads of central banks who are launching this are super well-meaning, you know, let’s give them the benefit of the doubt, we just know what human nature is like and history is the best guide… I think the power would be abused, if not by the original generation of launchers, then by the next generation…. It will be a completely totalitarian system of such frightening proportions, it’s hard to imagine… The micromanaging decision [about your spending] will then be automated and… you have no right to appeal the algorithm… You just won’t be able to use your money for certain things and then there is nothing that you can do… That by definition ends freedom….” — Richard A. Werner, German economist, 2024,
The Biden administration was actively working towards an American CBDC, but in May 2024, the House of Representatives passed a bill to prevent the Federal Reserve from introducing a CBDC. Shortly after coming into office, President Donald Trump banned the establishment of a CBDC in the United States.
In Europe, the European Union is barreling ahead at full speed towards a central bank digital currency for those EU countries that are part of the eurozone, which includes the majority of EU countries. Yet, the dangers of this euro CBDC are nowhere near being discussed in mainstream European media. Of course, EU leaders stress that Europe must have a CBDC to “adapt to the digital age” – a vapid statement evidently intended to subdue skeptics, and supposedly to protect Europe against “increasing geopolitical fragmentation,” whatever that is, if it is even relevant to digital currencies.
Whatever the excuse, the impending CBDCs appear intended to give governments unlimited power: If the government does not like your speech, off to jail you go – as in the UK, where people are imprisoned for months and years for saying or writing things that the government disagrees with. Meanwhile, real crimes, such as the mass-rape of thousands of children over the past 20 years, in Rotherham and other cities, remain rampant and largely unaddressed.
