His theory is that it’s folks like the WEF who are pushing for things like retail central bank digital currency to, essentially, cut out the commercial banks as part of the great reset. Powell being aligned with the likes of Dimon are fighting against that while much of the EU based banks (and a few big guys here) are on board.
He’s interesting if nothing else.
He’s interesting if nothing else.
I recently also came across the narrative that CBDCs are actually a means for countries to set up alternative payment systems outside of SWIFT and I guess the (euro)dollar system.
Which apparently is why the Chinese are on the forefront and pushing it hard.
Makes sense to me. Never heard of Tom Luongo though.
I see the utility for bank to bank transfers, especially if it represented a basket of currencies. I just draw the line at entirely replacing cash with it at the retail level.
It’s absolutely possible. If you control the currency you can control how it’s spent. Im the credit card system, shops are categorized by a vendor code. It’s not too much more for an itemized list of what’s being purchased to be sent as part of the payment approval. They would sell it as a way to detect fraud and tax evasion.
The tech already exists. It just needs to be implemented and have laws to enforce it.
The tech already exists. It just needs to be implemented and have laws to enforce it.
