Paul’s latest is a firebrand takedown of those helping build the digital panopticon. CBDCs aren’t just “tools”—they’re chains disguised as convenience.
If you know what CBDCs are and still go to work building them, you are betraying everything decent.
Read here: https://freemansperspective.com/anyone-who-goes-to-work-for-a-central-bank-coin-is-a-traitor/
Yes but the west- USA, cannot build a CBDC anyway as it involved removing from the private banks who own the US central bank the ability to create money out of thin air.
People do not understand this and its implications.
CBDCs transfer more power to the central bank and government because with a retail CBDC people are holding money issued by and secured by the central bank, not the private banks.
This gives the central bank and government huge power to decide where and how to allocate capital...it also removes the ability of private banks to create money out of thin air via fractional reserve banking.
Meanwhile China can manage this.
And having established its CBDC China has now built the protocol for enabling trade payments between trade partners via digital currency transfers- the protocol is called mBridge and has the potential to compete directly with SWIFT.
Saudi Arabia has already signed up to mBridge and BRICS.
The petrodollar is in its last days.
USD hegemony does with the petrodollar.
US inability to build a CBDC gives China the advantage and enables it to design, build and implement the digital trade payments protocol of the 21st century.
Criticise CBDCs and the centralised power they deliver all you like- but China is implementing and the efficiencies CBDCs deliver to trade payments and the leverage they also deliver to central banks and governments are huge.