What is CBDC and why is it a terribly dangerous idea?
Well, I recommend listening to the following conversation with the author of The Road to Fascism, Simon Elmer.
Just for clarity, fascism—in this context—is a way of organising society, focusing on autocratic government, dictatorial leadership and suppressing opposition.
The road to fascism
As COVID-19 regulations are lifted, many hope the fake pandemic is over.
However, new crises like the Ukraine war, the cost of living, and environmental propaganda show that the real struggle continues.
Governments are increasing their use of military power under the guise of protection, signalling an accelerating shift towards authoritarianism.
Simon’s book examines the rapid moral decline in the West, arguing that the ‘pandemic’ initiated a civil war against democratic institutions, which are being replaced by international technocracies, leading to a new form of totalitarianism—the global biosecurity state.
CBDCs and digital ID
Central Bank Digital Currencies (CBDCs) and digital ID are tightly interwoven and are profound threats, not only to the freedom and privacy of everybody, but are blatant threats to the already-questionable national sovereignty of countries.
The COVID era showed me that national sovereignty is dead.
To be clear, a sovereign state is a politically independent entity with a defined territory, a functioning government, and the power to make and enforce laws within its borders.
This didn’t happen post-2020.
As a reminder:
- Fiat currency is the money we use every day, like the US dollar or Euro. It’s issued and regulated by the government and central banks. It is created out of thin air and has value because the government declares it as legal tender and, as such, people trust and accept it as a medium of exchange.
- Digital currency is really just an electronic version of the fiat currency. Credit cards and Apple Pay, for example.
- CBDCs are a type of digital currency issued directly by central banks. They are programmable and linked to one’s digital ID (being rolled out everywhere) and are a complete violation of privacy and sanity.
Take a listen to what Agustín Carstens, the head of the Bank Of International Settlements (BIS), said in an interview about CBDCs. (The BIS is sort of like the central bank of central banks.)
Conversation
Simon broke apart CBDCs, digital ID and branched out into related talking points such as the biosecurity state, fascism, totalitarianism and how we can push back.
With CBDCs, central banks will have complete control over the rules and regulations that will determine the use of that expression of central bank money, and we will have the technology to enforce that.
Agustín Carstens, head of the BIS
