Let me guess... the "programmability" is for emergencies only, for the common good, for safety and health? Do not forget:
- Cash is printed economic freedom
- Cash is neutral
- Cash is anonymous
- Cash is not discriminatory
- Cash does not depend on electricity
- Cash is not linked to your social credit score (spoiler alert)
- Cash is king
And for all the uninformed people who think that digital currency (CBDC) is some kind of conspiracy theory… think again. Or make the effort to think at all. Here is a purely hypothetical thought experiment:
So, if I were an evil crook, what would my plan be to launch CBDCs, or should I say force people to use them? First I would introduce cryptocurrencies and make them seen as something wonderful, something mysterious and something that makes people rich so that people have a high regard and positive attitude towards digital currencies. Such as bitcoin.
Then I would crash the economy and most currencies and cause a lot of economic chaos and pain resulting in incredible private and public debt and then present CBDCs as the final solution to these huge problems for the majority of people to happily accept and refuses cash. I would reward those who accept CBDCs with large rewards and progressively link this system to a social credit score. Throughout the process, I would ensure that the narrative conveyed by the media was invariably in favor of this change.
As a final step, I would then forbid paying with anything else.
Eventually I would have total control and traceability over the entire economy and each individual and who is not part of the CBDC system cannot buy or sell anything. Never has more power been concentrated, and never has a more sophisticated and subtle instrument of behavioral control been employed...