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Central Bank Digital Currencies are Officially Here
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Central bank. Digital currencies present the biggest risk today to financial freedom and to economic stability. And the problem is they are already here. This is not some far-off distant future that we need to be worried about. This is something governments all around the world have already started rolling out today. Obviously, we have the e CNY in China, but the United Arab Emirates just announced its digital durum strategy.
The Swiss National Bank has already conducted experiments with its own CBDC. The Australia and New Zealand Banking Group has completed its pilot program for its CBDC. The Bahamas has been running an experiment with its sand dollar for a few years now. The ECB is planning the launch of its digital euro and the Bank of England, the launch of the digital pound.
And in case you are sitting there thinking, Man, I am glad I do not live in one of these countries, guess again, because the Federal Reserve in April of 2023 just launched the beginning of the Fed Now program.
Timecodes
0:00 Introduction
2:53 Historical Momentum
7:17 Where the CBDC Comes in
11:43 Federal Reserve Approach on a Large Scale
12:28 Privacy Concerns
13:51 Solution to a Crisis
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#CBDCs #FedNow #DigitalCurrency
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