''This is how financial freedom dies'' (CBDC) - Central Bank Digital Currency

[Miguel1]

Share your thoughts.

Basically, the government could have even more power and control over us than they already have. Whether that's a good thing or a bad thing overall, let me know what you think.

Edited March 11, 2022 by Migue Lonas

[vizual]

It’s an illusion to think that if you take away the power of the government to control streams of money that that power is going to transfer to “the people”. What reality will happen is that big corporate and billionaires won’t have any responsibility to anyone any more regarding their finances, as the government won’t have any power over them any more. So the power of the government will be transferred over to the billionaires.

 It’s the same argument Elon Musk is campaigning with to end taxes of big corporations because the government is more wasteful than corporations.

[nuwu]

@Migue Lonas if you think your [s-word]coin has a better supply distribution than cbdc your delusional. absolute state of crypto is a joke compared to what true financial inclusiveness could be like, no wonder trad boomers are doubling down on their vision against the comedy that is unfolding.

[Yarco]

The truth is that we already don't have financial freedom. It's just that governments haven't been too heavy-handed and shown their power until recently.

The Canadian trucker thing is one example. I find what's happening in Russia a much more flagrant example. The entire banking system is being shut off by the Western world. Business with companies in Russia is no longer possible. Visa and Mastercard of individuals are getting cut off. Companies like McDonalds are pulling out and leaving thousands of people without work. We can't buy Russian company's stocks any more. Private citizen's assets like yachts, jets, and mansions are getting seized. You can't even watch PornHub in Russia any more ffs.

You don't own the land you live on even if you have a deed to it. If you don't pay your annual property tax to the government, they can seize it. So in essence, you're just renting it. If you don't pay your income tax, they can pull money straight out of your bank account. They can freeze your Paypal, Patreon, and any other way of getting money.

I don't know if CBDC necessarily gives governments any more control than they already have. They can already force your bank to freeze your account, or disclose all of your transactions. It makes it more convenient and a bit easier to track maybe, without having to obtain warrants or go through hoops. 

CBDC seems pretty inevitable so I don't think it's worth trying to fight or resist it. For most people, they won't notice any difference when it's implemented. Their money will just get converted from USD to digital USD, but their debit and credit card and all of their regular payment processing will work the same to the average person.

The average person has nothing to worry about and the system will work fine for 95% of people. The problem is that if you hold any fringe/controversial views or consume any fringe/controversial content online, you could be at risk. And what is considered a fringe or unacceptable view seems to be expanding at an alarming rate.

[Sucuk Ekmek]

  Governments are already failed, except Russia. It's all corporate from now on. Skynet is here.