Central Bank Digital Currency: A Benefit or a Burden for Citizens?

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How is a Central Bank Digital Currency (or CBDC) different from other cryptocurrencies or from digital money that people spend using debit and credit cards? A CBDC would be directly controlled and operated by the government rather than private financial institutions. This type of control would allow the Federal Reserve to quickly intervene in the economy if needed. A CBDC would enable the government to inject funds into the market but could also restrict individual or societal transactions at any time, eliminating personal monetary control and financial privacy.

Norbert J. Michel is vice president and director of the Cato Institute’s Center for Monetary and Financial Alternatives, where he specializes in issues pertaining to financial markets and monetary policy.

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As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker.
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Great video. Very informative and simple to understand. Thank you!

gillesgeorges
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Government control over YOUR money....what could possibly go wrong?

bidenneedshisbuttwiped
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States can not declare a federal legal tender but, how about a state have a state legal tender like gold and/or silver?!?! Can that hinder starting a cbdc?!?!

Andy-ouge
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This would totally suck. Pray to God this never happens.

JillFugazio-dsfn
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What r ur views on public education vs private and public health care vs private one

whatsup
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I still want paper money because of the presidents pictures on all paper and coin money instead of digital dollar

BDA
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Come get your Central Bank Coal Mine Scrip Digital Currency!

brennanbrady
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Amtv YouTube channel say around January/10 th/2024 economic will collapse

cxccnxu
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not true ...you put you money in the bank that bank legally owned it!

hayleylewis
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Government as its called cannot be that if it doesnt have control over its citizens. The collapse of government stems from greed and corruption caused by certain individuals who are not satisfied with politics or government because of greed, and the laziness of individuals in those particular fields in government which causes the individuals to not perform their duties which in turn, turns to corruption

derrickfoster