IMF’s deputy managing director Bo Li lauds CBDC’s ability to control what people buy
IMF praises India’s controversial digital ID system, Aadhaar
IMF meeting: CBDC should be tied to digital IDs to “push society into to new equilibriums”
IMF ponders ways to end people’s hesitancy to move away to cash
CDBC being Central Bank Digital Currency. Conveniency will forever be used to convince people to stop using cash, just like the birth of the credit/debit card. The do have their uses, you can quickly block a stolen card instead of waiting for the police to recover your money, in case you can't do it yourself. At the same time it's impossible for someone far away to steal cash from you (unless it's the government, of course) and much easier from a card. People are more and more willing to give up security just so they can buy stuff while sitting on the couch...
And as a bonus:Palm print payments are rolling out in China and the US tracking disguised as convenience, once again...
We need to say: If you ban physical currency I will kill you, and your children, and their children.
Someone downvoted me for the above, and I understand why; because it sounds monstrous.
But here's the thing.
CBDC is even more monstrous. It's nothing less than handing complete control of your life to your banks and your government.
With CBDC, they will have the ability to completely dictate what you spend your money on. You will no longer own your money. Imagine that! You will work 9-5 for money, that your government, or possibly even your employer, will be able to dictate how you spend.
'Oh, they wouldn't do THAT. They wouldn't go THAT far!'
BULLSHIT.
As soon as the technical capacity to do it is in place, it is simply a matter of time before they do. Thus the ONLY recourse is to prevent that capacity from ever being installed.
Failing to do so WILL turn the ENTIRE human population into serfs to a few dozen banking/royal/political dynasty families.
A planet enslaved forever, or some dead people. Your choice.