Why Central Bank Digital Currencies Are So Dangerous

Central Bank Digital Currencies might sound like a good idea, but they are incredibly dangerous. Here's why.

~

Got a "why" you want answered? Give us your questions here:

[stevieyoutube]

This is exactly the reason why self driving cars are so dangerous as well. Self driving cars would allow direct control and manipulation of where you can and can't go. Using your exact same protest example, if there's a protest you want to participate in that the government doesn't like and they consider you a "threat to democracy", they could simply keep your car from working anywhere near where the protests are taking place.

[RichardGeiszler]

Cash works even in case of power &/or internet outage.

[joejohnson]

What I worry about is the younger generation that strives for convenience and the ability to do everything on their phone including buying and selling . They do not understand what they are giving up which is security over convenience . Cash is still king and should remain so .

[TwilightMysts]

A key difference between the Canadian trucker protest and a CBDC is that with the protest, if you have physical cash, you can still function in society (at least until you run out of money) though some businesses no longer accept physical currency. With a CBDC, there is no physical currency anymore, meaning you aren't restricted, you are completely banned from being able to transact. The only prayer you have is to find people who are willing to do some bartering. This is also why it is a good idea to have a few hundred dollars of physical cash on hand (if you can afford it, I realize some people are so tight they can't do that).

[greenzombie]

Power corrupts. As we know. What could possibly go wrong?

[RichardGeiszler]

China's CCP has a social credit score system which has control of many aspects of their subjects' lives.

[javabean]

So you're telling me the government could stop me from spending my own money on, oh, I don't guns and ammo? That's a hard "no" for

[__-pljg]

My perfectly mundane comment agreeing with the video content was just censored.

[T-Hogie]

NICK, didn't the CCP aready do this in China or effectively so?

[aldonapolitano]

Just imagine, all of your money is chipped, and so are you and all the money you receive has to be assigned to you digitally.

[AkiraFelix-kl]

Every authoritarian's wet dream is to know everything you do with your money. This is coming to America wether we like it or not.

[lanedexter]

Jefferson agued against paper money, believing we should hold gold, silver, and copper in hand for its intrinsic value - and the poor guy ended up on the two dollar bill.🙄

[Blakehx]

The concept of a CBDC doesn’t make sense anyways… half of the reason for creating cryptocurrencies was decentralization and getting away from government control! It’s like getting away from control of your nosy parents by moving… and moving into a different bedroom!🤔🤷🏻‍♂️

[studlymuffenlife]

Cbdc’s have caused me more sleepless nights than all other societal issues

[Xeverous]

Printing money by the government should be the same crime as it is done by ordinary citizens.

[KentoLeoDragon]

If central bank digital currency is a dictator's dream, then I'm curious why they aren't already doing it? What prevents them?

[reneewatkins]

@1:21 @1:40 @2:00 @2:10 @2:42 (CHECK THE DONT TELL ME WHAT TO DO WITH MY MONEY FILE )...… @3:38 @3:44 @3:54 @4:02 @4:10

[heinricho]

I'm working in the Philippines right now and based on your license plate number there's a certain day of the week you can't drive

[serak]

This is why I invest in my garden.

The federal reserve cannot delete potatoes.

[prilep]

CBDC will be used for universal basic income. There will be limits where you can spend it but also with expiration date