- EDITOR'S NOTE: There are two sides to CBDCs. The first shows the face of digital progress, optimized convenience and efficiency, and continued dominance in the global monetary system. The second side is much darker. The world is going digital. Fiat money is no exception to digitization. CBDCs are a form of digital fiat money. They will be controlled by central banks; in our case, the Federal Reserve. Americans will not need to have an account at a commercial bank for all CBDCs will be stored with the Federal Reserve. They eradicate financial privacy. They’re controlled by the central bank and the government. Both can intrusively track and monitor every dollar you save and every dollar you spend. More frighteningly, the Fed can impose negative interest rates so that any money sitting in your account will begin to depreciate the longer it remains unused. The bottom line here is that your financial freedom and privacy will be 100% gone. CBDCs are not a conspiracy. It's a real agenda.
Source: Visual Capitalist
