cyanoctopus on Nostr: Privacy could be the way to go with the plebs, but CBDCs are actually the last stance ...

Privacy could be the way to go with the plebs, but CBDCs are actually the last stance for A reserve currency to maintain the grip over capital controls while monetizing its debt, by providing perfect monetary policy transmission, fiscal sustainability and capital flow capabilities. Fancy way of saying maintaining control over raising interest rates, taxes and limiting foreign currency holdings. If A reserve currency is not capable of exerting this type of power, then economic reality will materialize over abstractions and their elites will behave like Mexican elites in 94, Southeast Asian elites in 97, or Russia elites in 98, running after THE reserve currency of the world. I know this one's written like a forecast, just not sure is a history piece. I do know though, BTC plebs are not waiting to find out if they pull this one off, they are already there.