Most people will have heard now about the plans to introduce Central Bank Digital Currencies (CBDCs) in countries around the world, including Australia. By March 2024, the central banks of 134 countries, accounting for 98 per cent of the world’s GDP, were said to be in various stages of evaluating the launch of a national digital currency.
CBDCs are purported to be cryptocurrencies. But they are far from what true cryptocurrencies represent: the freedom to choose how to transfer value and decentralised technology.
Are you aware of players, their organisations and agendas driving us toward a CBDC future? If not, start here
- World Economic Forum “Great Reset”
- WEF CBDCs
- Reserve Bank’s “Australian CBDC Pilot for
Digital Finance Innovation” - Australia’s 2023 CBDC pilot
When you read these, remember that CBDC promoters will always highlight the benefits, such as convenience and cost-effectiveness.
What they won’t discuss is that the retail iteration of a CBDC could see currency programmed by a central authority. This authority, if it chooses, could then remove spending choice, the ability to save or store wealth, move freely, and speak out against anything the issuing authority disagrees with and a free market. It could even become a ‘social credit system.’
