CBDCs Will Not Help Inequality

CBDCs will have no positive impact on humanity. This is something that is being touted as being highly advantageous to people but it is not. In fact, from society's standpoint, there are only negatives.

CBDCs stand for Central Bank Digital Currencies. They are being shopped as a new alternative to fiat and a solution to all of our problems. Since there are so many advantages to digital, politicians all over the world are promoting the idea that this will help people.

Do not buy into the lie.


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To start, central banks are not the ones who are benefiting from CBDCs. Hence the name is misleading. The main beneficiaries are the governments of the world, i.e. politicians and bureaucrats.

The reality is that, in the developed countries, we mostly have digital currencies as it is. Almost all the transactions within the U.S. are done in an electronic manner. The same is true for China, Japan, and Western Europe.

Those that are not are either done by people who do not have access to the banking system or are engaged in illegal activity. Of course, the later is what gets the ire of the governments going. Ironic that the allegation of crypto being used for illicit activities is dwarfed by those done with fiat. Perhaps another reason not to believe politicians and their cronies.

A CBDC version of the dollar (or any other currency) will provide everyone with a digital wallet. This will be tied to someone's identity. The politicians promote this concept as a means of getting people money quicker. Naturally, that should be a warning sign as to who they are catering to. Dependence is what they seek.

There is a simple equation that most overlook. If the government can put money in, it can take it out. There is nothing standing between the government and your wallet. The banking system, for the most part, is removed from the equation. This means that the government could simply decide to instill negative interest rates by taking 2% annually from each account.

Even higher up on the list is the hunt for taxes. If all transactions are done digitally, and through wallets they fully monitor, they can tax as they go. Receive a payment for services rendered, instant taxation At the same time, all financial transactions will by under their control. If you are engaging with a party they prefer you not to, the wallet simply will be shut down. It is best to keep in mind how the list of who is a "terrorist" keeps growing as the decades go by.

Finally, a swapping of the existing currency for one that is digitized does not change things. If the USD, as an example, is replaced, guess what that means? The USD in your bank account is swapped over to the new system. The same would also hold true for Jeff Bezos and Elon Musk.


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What will not change is the distribution. How people go about getting their money is still going to be the same. This is a point overlooked by many in the discussion, especially government hacks.

The reality of the situation is that CBDCs benefit the governments of the world and few else. They claim it makes the system more efficient with less friction. The reality is that is makes their surveillance much easier. All the calls for more regulation are simply feeding the predator. As we are now seeing, bureaucrats are equally as dangerous as the politicians.

Of course, fear is being used to sell this entire concept. In the West, the mantra is to counter China's move. If the US does not go down this path, the digital Yuan will overtake the USD to become the world's reserve currency. It is an absurd thought because, once again, turning a currency into a CBDC does nothing to enhance the currency. Is the international trading and investment community going to suddenly trust the Chinese government because their currency is now digital? Not likely.

Once again, we see the smoke and mirrors of the political/governmental establishment. We see the same story all over the world: governments are mired in debt. Their Keynesian approach to things is being exposed for the total failure it is. Thus they need to keep the misdirection going. Sadly, people are too ignorant to understand what is taking place.

The establishment was able to latch onto the success of cryptocurrency. However, what is being omitted from the equation is what made cryptocurrencies successful up to this point. The first is the fact that they are decentralized and not under the control of any government. Secondly, many have a much different distribution system whereby tokens could get into the hands of everyday people. This is something radically different from the present financial system where those closest to the central bank end up getting the lion's share of the benefits.

CBDCs will likely remove the last past. The change will be those who are closest to the government, i.e. cronies, will get the main benefit. Most likely, this means almost all of us are left out.

The implementation of CBDCs will result in greater inequality because that is what the government does. Much of what we see now is the result of central bank policy. Of course, it best to remember that much of their policy was established by Congress. Funny how those who are banging the drum for equality are the ones who are fostering inequality.

And somehow people still trust these fools.

In the end, it will still be a system fueled by debt. This means that those who are the debt providers will benefit the most. Everyone else is stuck trying to get a piece of the scarcity puzzle, of which there is not enough to go around. It is impossible to pay back all the debt on the currency when the interest pushes the total higher than the money in existence. Hence why bankruptcies (or defaults) have to happen.


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I guess I have not thought about the negatives of a CBDC. Your point about them adjusting the rates is complex and actually concerning. I guess I have always thought they would work like a stable coin, but with centralized control the tokenomics is not the same.

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I upvoted your comment because I found it engaging.
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It is just like the Fiat but given a new name as CBDC. It will be controlled and manipulated just like the normal currencies and will be minted like anything.

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Bang, I did it again... I just rehived your post!
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To right @taskmaster4450, CDBC's are nothing more than an attempt by central authority to compete / quash the decentralized economy movement. Just one more mechanism for the fools who think they know what's best for everyone to try and maintain 'control'. Will anything less than a high-speed-lead-enema ever break through their delusion and denial?

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I upvoted your comment because I found it engaging.
I am replying to encourage you to check out POB and enjoy some 'POB manure'.

Hope it makes some fertile seeds grow.
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I've been against CBDCs ever since I first heard of them. I've dedicated a few posts to the topic and don't understand why crypto outlets even bother about this topic. These are not crypto. They're a tool of mass control and will never empower humanity in any way. Crypto does that.

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CBDCs = same centralized crap. Digital form of Fiat. Backed by government's bullshit. 😂 For the rich by the rich. They want to control the economy and this is the part of their petty plan.

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I upvoted your comment because I found it engaging.
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Hope it makes some fertile seeds grow.
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Thanks a ton @trostparadox. I use "ProofofBrain" tag in all of my posts. It's a very cool platform. Would love to have some POB Manure to nurture my account ;)

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Those promoting CBDC are going to try to blur the lines between it and crypto currency as if they are the same. If CBDC becomes a reality, people are finally going to realize the difference between owning your keys and not owning your keys.

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I upvoted your comment because I found it engaging.
I am replying to encourage you to check out POB and enjoy some 'POB manure'.

Hope it makes some fertile seeds grow.
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(Edited)

CDBCs are nothing but a new payment rail for the same old fiat. If the central bank implements one and the government starts sending me money through my account with the central bank, I'll immediately withdraw it and hold it in my bank account, buy crypto with it or hold it in physical cash.

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I upvoted your comment because I found it engaging.
I am replying to encourage you to check out POB and enjoy some 'POB manure'.

Hope it makes some fertile seeds grow.
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any digital currency that is not decentralized will be tempt governments to manipulate it in the favor of a select few

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I upvoted your comment because I found it engaging.
I am replying to encourage you to check out POB and enjoy some 'POB manure'.

Hope it makes some fertile seeds grow.
💩 ➡️ 🌻 👍


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About 5 years ago I was talking to a good friend of mine, shes' about 60 now and very smart, globally connected. She told me to invest in Yuan because it will be the 1st world currency...I didn't, but now...after reading your article, I am thinking seriously about it.
What wallet should I use to buy digital yuans? Any suggestion?

Thank you so much for this article...it's one of those that make me take action immediately. That's how valuable it is.
And I don't care what others have to say about positive feedback loops, you deserve my gratitude for this informative text.

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This is pure madness and shows how the crooked governments are thinking as this is all about control.

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I upvoted your comment because I found it engaging.
I am replying to encourage you to check out POB and enjoy some 'POB manure'.

Hope it makes some fertile seeds grow.
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It was pretty much the problem when I heard of the digital yuan. They can manipulate it however they want and people can't tell if banks truly have enough money or not. At the same time, it helps them keep all the money within the system. Not to mention they can cut people off completely from the system as physical cash disappears.

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I upvoted your comment because I found it engaging.
I am replying to encourage you to check out POB and enjoy some 'POB manure'.

Hope it makes some fertile seeds grow.
💩 ➡️ 🌻 👍


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Thank you. I like the POB tag as well and currently I think there are no restrictions on using it for posts. Of course it won't be used for things like Actifit but more for actual posts.

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We in the crypto community will not be fooled. I call it a wolf in sheep’s clothing. The central issuing authority of fiat has always been the problem. Hopefully people will do their homework in regards to CBDC’s.

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I upvoted your comment because I found it engaging.
I am replying to encourage you to check out POB and enjoy some 'POB manure'.

Hope it makes some fertile seeds grow.
💩 ➡️ 🌻 👍


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In my opinion there is no going back. nothing is going to stop the transformation of the dollar into a centralized cryptocurrency or CBDC just like the Chinese Yuan. However what is not clear to me is whether the FED will allow the Government to take control of this currency or on the contrary will go ahead and put in place or test its project called FEDcoin.

In any case BCDCs are something other than fiat money 2.0, in that while it ceases to have a physical presence in cash and will be distributed in Blockchaim there will no longer be a central power issuing worthless money. The scary thing about the incursion of fiat money into the crypto world is is the tremendous social control that this central power will have over its population.

That is, in the name of security a small but powerful group of people will have access to your financial information, will be able to decide your economic destiny, erase you from the financial world if you do not do as they tell you, in short, it is the main tool of a terrifying Orwellian world.

Decentralized cryptocurrencies will be our only protective shield against this Ponzi scheme applied by the powerful against the rest of humanity.

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Spot on. Just another narrative "spun" full of half-truths and innuendos. It's complete and utter bullshit. You nailed it from the "interest rates" and taxes, down to the labelling of people "terrorists". There are so many ways the government could abuse this it's almost criminal to even entertain letting them have that much power.

I'll go back to Thomas Jefferson's quote, “Paper money is liable to be abused, has been, is, and forever will be abused, in every country in which it is permitted.” Pretty sure that will go double for digital.

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I upvoted your comment because I found it engaging.
I am replying to encourage you to check out POB and enjoy some 'POB manure'.

Hope it makes some fertile seeds grow.
💩 ➡️ 🌻 👍


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It's all about power and control. Centralized digital currencies will allow governments to destitute people (wrongthinkers) whenever they want.

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I upvoted your comment because I found it engaging.
I am replying to encourage you to check out POB and enjoy some 'POB manure'.

Hope it makes some fertile seeds grow.
💩 ➡️ 🌻 👍


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Thanks for the upvote! I'm a big fan of the POB tribe. I found out about it days ago. I use my other account johnhtims.life to visit it every day.

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Your profile pic looks a lot like my son's cat Loki (who happens to have his own facebook account). Maybe I should encourage Loki to get his own Hive account, too 😼.

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That is also what I am thinking about it. Since it is just a digitalized Centra-lies Currencies, only things is just they use the so called blockchain technology to spice things up. While all the things is just still the same, and the comercial bank are still in control, and they will just easily shut the wallet down.

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I upvoted your comment because I found it engaging.
I am replying to encourage you to check out POB and enjoy some 'POB manure'.

Hope it makes some fertile seeds grow.
💩 ➡️ 🌻 👍


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Thanks so much for your vote. Always nice to engage and make new friends. appreciate it

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... what is being omitted from the equation is what made cryptocurrencies successful up to this point. The first is the fact that they are decentralized and not under the control of any government. Secondly, many have a much different distribution system whereby tokens could get into the hands of everyday people. This is something radically different from the present financial system where those closest to the central bank end up getting the lion's share of the benefits.

Thanks for sharing!


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