CBDCs will lead to an egregious amount of government abuse and intrusion into the lives of innocent citizens. From social credit scores to the creation of entire groups of "untouchables" the ability of the government to control every aspect of our lives will be complete. Who would want this to happen and why can so few see this?!
This is such an important article, thank you Dr Pippa. But I fear you may be optimistic in your belief that there will be a chance any government, even ostensibly democratic ones in free nations, will cede the power that will come with a digital currency. consider what happened in Canada with the response to the truckers convoy. and Canada was supposed to be one of the freest, previously ranked 6th in the world based on the Human Freedom Index. absolute power corrupts absolutely, and any CBDC is absolute power. I hope you are right...I fear you are not.
Love reading your work and your dad's thoughts. I've pretty much shut down all MSM.
The world has traded hard goods and human capital for 'paper' $US . Putin just pressed the reset button. Now its hard money for life supporting goods. Oil/Gas/Food/Metals/Fertilizer.
CDBC is central for domestic economic health, but Ruble can continue to work. 20% tax on gold was removed in Russia encouraging citizens to buy gold. Wow
India/Russia economic relationship much deeper than most understand:
Case 1: India shall be a net importer from Russia for oil/food/aviation/military hardware. What is rupee good for then ?. Human capital. Setup a technology center in Black sea coast, higher 500K Indian engineers pay them in rupees and ask them to build software/hardware ?. India is also one of the largest generic drugs manufacturer. People of Indian origin are in the key positions of US admin. They are not going to say sure, i'll let my cousin in Mumbai stave to death.
Case 2: MidEast countries - Sorry no more Ukrainian Agricultural supply, as the the Black sea is closed. Russia will sell Food for UN votes and oil price fixing.
Case 3: Yep Russia has lost the war - Mostly to all western media outlets and social media etc. The western narrative so compelling and repeating that its hard to analyze the situation on the ground in Ukraine objectively. According to Douglas Macgregor, the war is all but settled on the Russian terms. But one thing is for sure, Putin mentioned a few cities of interest to him. Mykolaiv, Kharkov, Dnipro. Counting the hard assets and trade routes, Russia at this point fully controls the economic means of Ukraine. Doubling their ship building/aviation/electric/electricity access.
Who would buy Ukrainian bonds ?. How would Ukraine pay for the war ?. Ukraine had 30% of military in reserves because it was expensive to maintain it.
Case 4: China - 20 Years of planning of joint economic/military corporations. Oil for manufactured goods. There is no gap in that relationship. That allows Putin to redirect forces stationed on the east to the west.
Case 5: Given the nature of sanctions most creditor nations would diversify away from US treasury. The fed can sneak in keep bidding. We'll have to pass 15 Trillion dollars economic package in 3-5 years time.
Case 6: When we sanction Russia, we also sanction its trading partners. One can live without an iphone and iMac but not without oil/gas/food. So they find ways to trade around $. Its not like US is going to setup a naval blockade of India and Russia trading oil.
Case 7: Above all of this the way India/China Treat Russia in a friendly manner with dignity and respect. Western leaders racial discontent is demonstrated by how it treats India/China.
Putin has left the $ centric world. He's setting up Russia in the non $centric world. What ever the new currency many be, domestically CDBC internationally Gold/BTC or something else the. His calculus is to use Oil/Gas/Food/ as the back stop and bring many nations into this non $ world.
We can shut down all the dollar based assets, sure it will hurt and has already stared to boomerang. 2/3 of the world is awaiting for what Russia has to offer. Food/Energy/Metals. All fundamental for life. In return they would offer UN votes and human capital back. Sure they can run on x86 1st processor. But how much computing power one needs ?. After all US sent the man to the moon on less computing power than calculator.
Ukraine will loose the most - identity/economy/independence. Sadly
But its not like US cares about Ukraine, just an instrument fight Russia. and the world is very much aware of this. Hence we can't even get a UN vote for one country invading the other in broad daylight.
For the past 30 years, US has enjoyed the economic output of the world by printing money and buying it, the time has come to work for what we consume.. Probably a good thing as outlined in the book Shop craft as soul craft.
Can a CDBC (Central Bank Digital Currency) be directly delivered? How did fiat currencies gain acceptance but through intermediaries (banks) and convertibility (gold/silver). Maybe China will be a good indication but privacy and governmental control at the micro level let alone privacy sure to be at the forefront.
CBDCs are the ultimate end of property rights, you seem way too keen on adopting them. Actions by the Canadian Government declaring itself emergency powers, seizing accounts with no due law or legal process was the start and the US and puppet allies are doing the same to Russians. Again, no legal due process and sweeping changes go unchallenged by legal, media or prominent people.
Your level of analysis is way too shallow. This is the great reset. The same idiots who crashed the system through excessive money printing are being given a do over.
Given the number of top central bankers who have recently transitioned to the political sphere in the West (Yellen, Draghi, Carney), it is clear a monetary reset is in the cards.
But, the many "fringe" commentators who say central bank digital currencies will mean the total loss of human liberty are not wrong.
As another famous central banker, William White, has put it (and I'm paraphrasing here): "No one knows what small trigger will result in the destruction of a complex system like our financial system."
I'm willing to bet CBDC's will be it, no matter what the Masters of the Universe might think.
That reasoning is childish; many European countries have implemented so called "fiscal cash registers". If you don't have that in the US it doesn't mean
There is nothing faster to cause widespread inflation then dropping money around in a large manner!
Most nations need to find a way to get cash to those who are adversely affected or displaced by the economy (inflation/war/the combination). There is nothing faster than an airdrop of money into a mobile device these days. The technology is in place.
In a modern democratic society, money creation is the most crucial of the “COMMONS” of the people. The creation of money through debt by private banks is a surrendering of that “commons”.
Creating money equally across the whole of a society is possible by eliminating private debt creation of money deposits as legal tender. Control of the total of money in circulation was lost by allowing the private banks to create money by the creation of debt. Money, in the form of legal tender, should be created equally for each citizen. The majority of money is now created unequally by private banks for the use by borrowers. without the banks and borrowers paying value for the use of that money.
To aggravate the payment free use of money by the banks, is the enabling of the banks to create the money to purchase Government bonds and other Government debt. Money for Government expenditures, which are presumably for the equal benefit of all citizens, should be paid with money created equally for all citizens. The issue of Government bonds would be to remove money from circulation.
This concept applies to most countries that create fiat currency. There should be an article, or several, debating this concept.
In a modern democratic society, money creation is the most crucial of the “COMMONS” of the people. The creation of money through debt by private banks is a surrendering of that “commons”.
Creating money equally across the whole of a society is possible by eliminating private debt creation of money deposits as legal tender. Control of the total of money in circulation was lost by allowing the private banks to create money by the creation of debt. Money, in the form of legal tender, should be created equally for each citizen. The majority of money is now created unequally by private banks for the use by borrowers. without the banks and borrowers paying value for the use of that money.
To aggravate the payment free use of money by the banks, is the enabling of the banks to create the money to purchase Government bonds and other Government debt. Money for Government expenditures, which are presumably for the equal benefit of all citizens, should be paid with money created equally for all citizens. The issue of Government bonds would be to remove money from circulation.
This concept applies to most countries that create fiat currency. There should be an article, or several, debating this concept.
What many bitcoin fans fail to realize, is the upcoming cyberpandemic will destroy our financial system FORCING a digital currency funded via UBI. To access the internet after that will require a government issued single-sign-on Digital ID that'll destroy what decentralized or privacy features bitcoin once enjoyed. The only way to avoid the system will be precious metals (90% junk silver preferrable) and barterable consumer staples. The Mark of the Beast is coming...
CBDCs will lead to an egregious amount of government abuse and intrusion into the lives of innocent citizens. From social credit scores to the creation of entire groups of "untouchables" the ability of the government to control every aspect of our lives will be complete. Who would want this to happen and why can so few see this?!
This is such an important article, thank you Dr Pippa. But I fear you may be optimistic in your belief that there will be a chance any government, even ostensibly democratic ones in free nations, will cede the power that will come with a digital currency. consider what happened in Canada with the response to the truckers convoy. and Canada was supposed to be one of the freest, previously ranked 6th in the world based on the Human Freedom Index. absolute power corrupts absolutely, and any CBDC is absolute power. I hope you are right...I fear you are not.
Love your work but you are way to trusting in our government and in their competence..
Love reading your work and your dad's thoughts. I've pretty much shut down all MSM.
The world has traded hard goods and human capital for 'paper' $US . Putin just pressed the reset button. Now its hard money for life supporting goods. Oil/Gas/Food/Metals/Fertilizer.
CDBC is central for domestic economic health, but Ruble can continue to work. 20% tax on gold was removed in Russia encouraging citizens to buy gold. Wow
India/Russia economic relationship much deeper than most understand:
Case 1: India shall be a net importer from Russia for oil/food/aviation/military hardware. What is rupee good for then ?. Human capital. Setup a technology center in Black sea coast, higher 500K Indian engineers pay them in rupees and ask them to build software/hardware ?. India is also one of the largest generic drugs manufacturer. People of Indian origin are in the key positions of US admin. They are not going to say sure, i'll let my cousin in Mumbai stave to death.
Case 2: MidEast countries - Sorry no more Ukrainian Agricultural supply, as the the Black sea is closed. Russia will sell Food for UN votes and oil price fixing.
Case 3: Yep Russia has lost the war - Mostly to all western media outlets and social media etc. The western narrative so compelling and repeating that its hard to analyze the situation on the ground in Ukraine objectively. According to Douglas Macgregor, the war is all but settled on the Russian terms. But one thing is for sure, Putin mentioned a few cities of interest to him. Mykolaiv, Kharkov, Dnipro. Counting the hard assets and trade routes, Russia at this point fully controls the economic means of Ukraine. Doubling their ship building/aviation/electric/electricity access.
Who would buy Ukrainian bonds ?. How would Ukraine pay for the war ?. Ukraine had 30% of military in reserves because it was expensive to maintain it.
Case 4: China - 20 Years of planning of joint economic/military corporations. Oil for manufactured goods. There is no gap in that relationship. That allows Putin to redirect forces stationed on the east to the west.
Case 5: Given the nature of sanctions most creditor nations would diversify away from US treasury. The fed can sneak in keep bidding. We'll have to pass 15 Trillion dollars economic package in 3-5 years time.
Case 6: When we sanction Russia, we also sanction its trading partners. One can live without an iphone and iMac but not without oil/gas/food. So they find ways to trade around $. Its not like US is going to setup a naval blockade of India and Russia trading oil.
Case 7: Above all of this the way India/China Treat Russia in a friendly manner with dignity and respect. Western leaders racial discontent is demonstrated by how it treats India/China.
Putin has left the $ centric world. He's setting up Russia in the non $centric world. What ever the new currency many be, domestically CDBC internationally Gold/BTC or something else the. His calculus is to use Oil/Gas/Food/ as the back stop and bring many nations into this non $ world.
We can shut down all the dollar based assets, sure it will hurt and has already stared to boomerang. 2/3 of the world is awaiting for what Russia has to offer. Food/Energy/Metals. All fundamental for life. In return they would offer UN votes and human capital back. Sure they can run on x86 1st processor. But how much computing power one needs ?. After all US sent the man to the moon on less computing power than calculator.
Ukraine will loose the most - identity/economy/independence. Sadly
But its not like US cares about Ukraine, just an instrument fight Russia. and the world is very much aware of this. Hence we can't even get a UN vote for one country invading the other in broad daylight.
For the past 30 years, US has enjoyed the economic output of the world by printing money and buying it, the time has come to work for what we consume.. Probably a good thing as outlined in the book Shop craft as soul craft.
Can a CDBC (Central Bank Digital Currency) be directly delivered? How did fiat currencies gain acceptance but through intermediaries (banks) and convertibility (gold/silver). Maybe China will be a good indication but privacy and governmental control at the micro level let alone privacy sure to be at the forefront.
you will appreciate the dystopia
CBDCs are the ultimate end of property rights, you seem way too keen on adopting them. Actions by the Canadian Government declaring itself emergency powers, seizing accounts with no due law or legal process was the start and the US and puppet allies are doing the same to Russians. Again, no legal due process and sweeping changes go unchallenged by legal, media or prominent people.
Your level of analysis is way too shallow. This is the great reset. The same idiots who crashed the system through excessive money printing are being given a do over.
We will own nothing and be fucking unhappy.
Given the number of top central bankers who have recently transitioned to the political sphere in the West (Yellen, Draghi, Carney), it is clear a monetary reset is in the cards.
But, the many "fringe" commentators who say central bank digital currencies will mean the total loss of human liberty are not wrong.
As another famous central banker, William White, has put it (and I'm paraphrasing here): "No one knows what small trigger will result in the destruction of a complex system like our financial system."
I'm willing to bet CBDC's will be it, no matter what the Masters of the Universe might think.
That reasoning is childish; many European countries have implemented so called "fiscal cash registers". If you don't have that in the US it doesn't mean
There is nothing faster to cause widespread inflation then dropping money around in a large manner!
Most nations need to find a way to get cash to those who are adversely affected or displaced by the economy (inflation/war/the combination). There is nothing faster than an airdrop of money into a mobile device these days. The technology is in place.
In a modern democratic society, money creation is the most crucial of the “COMMONS” of the people. The creation of money through debt by private banks is a surrendering of that “commons”.
Creating money equally across the whole of a society is possible by eliminating private debt creation of money deposits as legal tender. Control of the total of money in circulation was lost by allowing the private banks to create money by the creation of debt. Money, in the form of legal tender, should be created equally for each citizen. The majority of money is now created unequally by private banks for the use by borrowers. without the banks and borrowers paying value for the use of that money.
To aggravate the payment free use of money by the banks, is the enabling of the banks to create the money to purchase Government bonds and other Government debt. Money for Government expenditures, which are presumably for the equal benefit of all citizens, should be paid with money created equally for all citizens. The issue of Government bonds would be to remove money from circulation.
This concept applies to most countries that create fiat currency. There should be an article, or several, debating this concept.
In a modern democratic society, money creation is the most crucial of the “COMMONS” of the people. The creation of money through debt by private banks is a surrendering of that “commons”.
Creating money equally across the whole of a society is possible by eliminating private debt creation of money deposits as legal tender. Control of the total of money in circulation was lost by allowing the private banks to create money by the creation of debt. Money, in the form of legal tender, should be created equally for each citizen. The majority of money is now created unequally by private banks for the use by borrowers. without the banks and borrowers paying value for the use of that money.
To aggravate the payment free use of money by the banks, is the enabling of the banks to create the money to purchase Government bonds and other Government debt. Money for Government expenditures, which are presumably for the equal benefit of all citizens, should be paid with money created equally for all citizens. The issue of Government bonds would be to remove money from circulation.
This concept applies to most countries that create fiat currency. There should be an article, or several, debating this concept.
I’ve heard quantum computing will render blockchain useless.
What many bitcoin fans fail to realize, is the upcoming cyberpandemic will destroy our financial system FORCING a digital currency funded via UBI. To access the internet after that will require a government issued single-sign-on Digital ID that'll destroy what decentralized or privacy features bitcoin once enjoyed. The only way to avoid the system will be precious metals (90% junk silver preferrable) and barterable consumer staples. The Mark of the Beast is coming...