Digital Currency
All posts tagged Digital Currency
A cashless society seems to be the future for most of us living in the West. Credit cards and other forms of digital ways to pay seem to be the way of the future. But, what about those who want to use cash? Well, Australian politician Bob Katter knows all about that! https://www.skynews.com.au/australia-news/politics/bob-katter-blows-up-over-cash-ban-at-parliament-house-cafe-after-his-50-note-was-rejected-when-buying-lunch/news-story/cd5fe96e061f30ab91316c5fad03f571?net_sub_id=282058248&type=curated&position=1&overallPos=5
‘The Central Bank of Nigeria announced it will begin, effective in January, restricting cash withdrawals from banks and ATMs to just $45 per day as part of a push to move the country toward a cashless economy.
If this were a one-off, I wouldn’t bother writing about it. But it comes on the heels of mega-banks announcing similarly creepy new policies in recent months in China, India, Russia, Brazil, Sweden, the U.S. and many other nations, all pointing to an imminent switch over to a global digital money system.’ To read the entire article go to https://leohohmann.com/2022/12/08/global-central-banks-racing-to-implement-digital-currencies-as-cities-convert-to-smart-infrastructure-track-and-control-grid-being-erected-right-under-our-noses/
‘China’s new digital currency is a trojan horse “disguised as a payment mechanism,” says Erik Bethel, a global finance professional who served as the U.S. representative to the World Bank. “There are a lot of ways that the Chinese government could use this as an instrument of surveillance, tying it to their social credit score, and ultimately keeping an authoritarian regime alive, in effect, forever.”
As the Chinese Communist Party rolls out China’s new digital yuan, it could soon strongarm other nations to adopt it, Bethel says.
And he argues the digital yuan could eventually threaten the U.S. dollars role as the world’s reserve currency, with devastating consequences for America and the rest of the free world.’
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