Many central banks are investigating CBDC.
Here's a tracker of some countries
External Link/Members OnlyIt doesn't matter what they say, they will try and bring it in. Governments don't give up powers very often, remember income tax was temporary to fund a war.
"..114 countries, representing over 95 percent of global GDP, are exploring a CBDC..."
"...In late 2021, the House of Lords undertook an inquiry into the benefits of a CBDC for the UK and concluded in its report launched in January 2022, that
there is no convincing case for why the UK needs a central bank digital currency. In March 2022, the Bank of England announced a research collaboration with MIT’s Digital Currency Initiative. On December 9, 2022, in a letter to the Parliament, the Chancellor to the Exchequer stated that the BoE will release a technical paper on the digital pound and set up consultations on the technical design. Following this, the BoE solicited vendors for a proof-of-concept for a CBDC wallet..."
The real danger in CBDCs is that there is
no limit to the level of control that the government could exert over people if money is purely electronic and provided directly by the government.
A CBDC would give government officials
full control over the money going into–and coming out of–every person’s account.
This level of government control is not compatible with human rights, economic or political freedom.
CBDC will be linked to people's "social score", we can already see this in China where people are barred from travel if they infringe a requirement such as covid jab.
Negative interest rates can easily be applied, e.g. your savings could be subject to a 10% haircut to help fund "vital services".
An expiry date could be put on your money to prevent saving.
Purchases of meat could be banned if you have exceeded your permitted carbon allowance - of couse the erroneously named "elite" would still be able to fly their private jets to their ocean villas.
