CBDC, The New Form Of Financial Slavery.
I am of the opinion that the financial system is obsolete and that it needs a profound transformation, that the global economy is a disaster, that unfortunately we do not emerge from one crisis to enter another and that inflation erodes our pockets and our quality of life. life. To make matters worse and continue to complicate our lives, governments and central banks have more power over us, our money and free will every day.
With the creation of bitcoin, the blockchain and the rest of the cryptocurrencies, I have hope that perhaps, in the not so distant future, cryptocurrencies will become an alternative that our children, or at least, the children of our children. A possibility that would allow us to be more free, more autonomous, more transparent and more responsible with our money and our destiny.
Today I see with horror that in addition to the fact that economically everything is "upside down" worldwide, they want to impose central bank digital currencies (CBDC) on us, which are nothing more than a way to control and dominate us more. And I consider CBDCs as a threat to the freedom, privacy and sovereignty of citizens. With them they intend to replace cash and cryptocurrencies with a system of mass surveillance and financial exclusion.
I know to use the title: "CBDC, The New Form of Financial Slavery" It may seem quite sensational (I apologize for that), but in this article I am going to explain the reasons for my reasoning, why we must resist its imposition and defend our right to choose the money we want to use.
Under the pretext of improving financial inclusion, efficiency and security, governments and monetary authorities want to impose a system of total control over people's money and transactions. CBDCs are the digital version of fiat money, that is, money that has no intrinsic value and depends on trust in the issuer. Unlike cash, which is anonymous and difficult to trace, CBDCs would be issued and managed by central banks using technology similar to that of cryptocurrencies, but without the advantages of cryptocurrencies.
Cryptocurrencies, like bitcoin, are decentralized, they do not depend on any central authority that can manipulate, censor or confiscate them. They are transparent, secure, scarce and allow freedom of choice and financial autonomy for users. CBDCs, on the other hand, would be centralized, opaque, inflationary and subject to arbitrariness and abuse of power by governments and central banks.
Proponents of CBDCs argue that they would facilitate access to financial services for the unbanked, reduce transaction costs, increase the speed and security of payments, and allow for better implementation of monetary policy. However, these supposed benefits would be overshadowed by the serious risks that CBDCs pose to society.
One of the most obvious risks is that of mass surveillance. By using CBDCs, central banks could monitor and track all economic activities of citizens, from their consumption habits to their political preferences. This would be a violation of privacy and human rights, opening the door to manipulation, extortion and repression.
Another risk is that of financial exclusion. Contrary to what is intended, CBDCs could generate more inequality and marginalization, by giving central banks the power to decide who can or cannot access money and financial services. Central banks could impose arbitrary conditions, restrictions and sanctions on users and even deny them access to money if they do not comply with the requirements or rules they establish.
An additional risk is that of financial instability. By introducing CBDCs, central banks could trigger a massive flight of deposits from commercial banks, weakening the banking system and jeopardizing credit and investment. In addition, central banks could use them to apply negative interest rates, that is, charge users for saving, which would discourage savings and stimulate spending and debt.
In short, I consider CBDCs to be an instrument of domination and submission of citizens to the interests and agendas of governments and central banks. Far from improving financial inclusion, they could generate more exclusion, mistrust and dependency. I want to clarify that I do not intend to impose my opinion on CBDCs, nor convince anyone to share my vision. Everyone has the right to see reality from their point of view, education or personal interests. My intention is only to offer a critical and reflective perspective on a topic that I consider to be of vital importance for the future of the economy and society.
I invite you to reflect on what I propose with an open mind and draw your own conclusions. You don't have to agree with my arguments that CBDCs are a threat to the freedom, privacy and sovereignty of citizens. Yes, I ask you to respect them and compare them with other sources of information. In the end, what matters is that we are all informed and aware of what the use of CBDCs entails, and that we can exercise our right to choose the money we want wear.
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Author's Note: The opinion expressed here is not investment advice, is provided for informational purposes only, and reflects the opinion of the author only. I do not promote, endorse or recommend any particular investment. Investments may not be right for everyone. Every investment in the market and every trade you make involves risk, so you should always do your own research before making any decision. I do not recommend investing money that you cannot afford to chair, as you could lose the entire amount invested.
💖 Originally Posted: Publish0x