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What you fail to understand is that when the political winds change an ever increasing basis of activities will be deemed to be money laundering and illegal and
by orangepurple 3y ago
What you fail to understand is that when the political winds change an ever increasing basis of activities will be deemed to be money laundering and illegal and you will have nowhere to turn to.
- lotsofpulp 3y agoThe government offering electronic money accounts does not mean they have to take away cash. It just takes out a middleman and removes an inefficiency. It also holds them accountable directly, rather than them having plausible deniability because they task middlemen with arbitrarily discriminating on their behalf, like they currently do when you are suspected of money laundering.
- orangepurple 3y agoThere will be endless shortages of coins and cash
- orangepurple 3y ago“If you think about the benefits of digital money, there are huge potential gains,” said Prasad, adding, “It’s not just about digital forms of digital currency; you can have programmability — units of central bank currency with expiry dates. “You could have […] a potentially better — or some people might say a darker world — where the government decides that units of central bank money can be used to purchase some things, but not other things that it deems less desirable like say ammunition, or drugs, or pornography, or something of the sort, and that is very powerful in terms of the use of a CBDC, and I think also extremely dangerous to central banks.” “Now we are at the cusp of physical currency essentially disappearing” Eswar Prasad, WEF Annual Meeting of the New Champions, June 2023 https://sociable.co/government-and-policy/governments-program-cbdc-restrict-undesirable-purchases-wef-summer-davos-china/ https://sociable.co/government-and-policy/governments-progra...