CardboardGiraffe on Nostr: F that sh 't! The major banks in my state are already closing branches and going ...

F that sh 't! The major banks in my state are already closing branches and going cashless. It's just a matter of time. My workmates, friends and my fam all still think I'm mad tho. I wonder sometimes if it's not that they don't believe it'll happen, it's that its just too much of a cognitive load for most to handle comfortably, and so they just shut it out.... I dno

quoting note1uy7…v8hw

#CBDC entryway to hell 👿 🔥
👇🏻

“The central bank will have absolute control on the rules and regulations that we determine... and we have the technology to enforce that.” -Agustín Carstens, General Manager of BIS on CBDC. Agustín Carstens: A Vision For The Future 19/10/2020

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"Integrate with national ID system" CBDC Design by BIS; BIS Papers 14 April 2022 https://www.bis.org/publ/bppdf/bispap123.htm

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"Overview of benefits that some have associated with CBDC, and related factors or requirements"

➥ Requires (i) discontinuation of banknotes (or at least of larger denominations); (ii) CBDC to not take the form of anonymous token money

➥ Allows overcoming the ZLB as negative interest rates can be applied to CBDC

"Tiered CBDC and the financial system"
Ulrich Bindseil Working Paper Series
Jan 2020, ECB https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2351~c8c18bbd60.en.pdf

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“Expiring money, one whose value falls to zero after a specific date, is a potential monetary policy tool . “Programmability,” a technical feature made possible by digitalization, can accelerate decisions to spend it, making it a very effective means for stimulating consumption.” Ahmed Faragallah, Senior Financial Sector Specialist, World Bank
“Expiring money (Part I), NOVEMBER 02, 2022” https://blogs.worldbank.org/allaboutfinance/expiring-money-part-i

#absolute #control #surveillance #centralbankdigitalcurrency #centralbanks #government #china #creditscore

Learn #bitcoin