Brandon, we talked about the acronym CBDC, and I love how the CBDC is gaining popularity among people. CBD, because CBD’s marijuana, so CBDC must be great, right? Brandon, let us know what CBDC is and where it is headed. I must admit, it scares me. Can we please stop it? It’s annoying and distracting. Go ahead, Brandon.
Brandon: Yes, there is no situation in the world that is more concerning to me than the rise of CBDCs. It represents the ultimate loss of control. The Bank of International Settlements and over 90% of central banks worldwide are planning to implement CBDCs in the next five years. CBDCs are programmable versions of money that allow governments to monitor and control transactions based on certain conditions. If your buying patterns align with the government’s preferences, you receive money. Otherwise, they may penalize you. For example, if you drive an electric car, you may receive a tax credit, but if you drive a diesel truck, they may reduce your funds. This is a concerning trend.
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Brandon: The goal is to make CBDCs the standard money for the entire world. They are currently working on the infrastructure to achieve this. It’s a global push, and the momentum is strong. However, there are some efforts in Congress to proactively prevent the implementation of CBDCs. Senator Toomey proposed a bill to prevent CBDCs from taking form, but it still needs to pass the Senate. The push for CBDCs is driven by the desire for financial inclusion and easier government-to-person payments. While this may sound appealing, it comes at the cost of privacy and individual freedom.
Vinnie: It’s concerning that people are willing to give up privacy for the convenience of using CBDCs. We’ve seen how people have been debanked and deplatformed for expressing their opinions. If they can control your money, they can control you. It’s a dangerous path we’re heading towards. The government wants control, and they are using financial inclusion as a selling point. But in reality, they want to control every aspect of our lives.
Brandon: Absolutely, Vinnie. The control they seek is evident in other areas as well. Look at the push for biometric payments, like scanning your eyes or using your body to make payments. It’s all about ease and convenience, but at what cost? We’ve seen how companies like Clear have already implemented biometric scanning for security purposes. It’s a slippery slope, and once they have control over our money, it’s game over.
Vinnie: You’re right, Brandon. The push for convenience is strong, and people are willing to give up their freedom without realizing the consequences. We’re living in a bubble, unaware of the control that is being exerted over us. The institutions driving the implementation of CBDCs represent 95% of global GDP. It’s a massive force, and if we don’t stand up against it, we will lose everything.
Brandon: There is hope, Vinnie. Congress is aware of the concerns, and there are efforts to prevent CBDCs from taking over. But we need to stay vigilant and fight for our rights. We cannot let convenience and the promise of financial inclusion blind us to the dangers of CBDCs. We must protect our privacy and individual freedom at all costs.
Vinnie: I agree, Brandon. We need to educate ourselves and others about the implications of CBDCs. We cannot let our feelings and convenience dictate our future. We must stand up against the control and manipulation. It’s time to take a stand and protect our rights and freedoms.
Brandon: Absolutely, Vinnie. The future is uncertain, but if we unite and raise awareness, we can make a difference. Let’s not give in to the convenience trap and fight for our financial freedom. Together, we can protect ourselves from the dangers of CBDCs.
