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Ian King has been warning us for the previous yr concerning the Federal Reserve’s plan for a digital greenback (aka: “Undertaking Hamilton”).
Central financial institution digital currencies (CBDCs) stand to make the Fed’s job simpler relating to issuing tax refunds and facilitating transactions.
However a digital greenback would additionally give the federal government extra management over your funds.
It could be capable to monitor all transactions within the central banking system. It may fund (or defund) your account at any time. And it may theoretically break the “zero decrease certain,” creating damaging rates of interest.
On as we speak’s episode of The Banyan Edge Podcast, Ian and I cowl:
- The naked fundamentals (and the professionals and cons) of CBDCs. [0:40, 2:40]
- Florida Governor Ron DeSantis making headlines by preemptively outlawing a “digital greenback.” [1:40]
- Why the Fed needs a digital greenback within the first place. [5:50]
- The issue with over-regulating the banking system. [10:40]
- Why cryptocurrencies (like bitcoin and Ethereum) provide a approach to defend your cash from CBDCs. [18:00]
Tune in to as we speak’s episode under!
(Or learn a transcript.)
And when you appreciated this episode and have feedback or questions, simply tell us at BanyanEdge@BanyanHill.com!
Regards,
Charles SizemoreChief Editor, The Banyan Edge
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