CBDC developments fuel debate

Most central banks are working on developing some form of sovereign digital currency. But are they paying attention to the right things?

Political opposition from the likes of Donald Trump have not stemmed the flow of global projects aimed at developing CBDCs.

130 countries are exploring a CBDC, 19 of the G20 countries are now in advanced stages, and 11 countries have fully launched a digital currency.

There are those who question whether we need a fiat digital currency at all and whether projects address more pressing monetary concerns.

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Fed Governor Says a CBDC in the US Has ‘Unclear’ Use Case and Presents Significant Risks

Federal Reserve Bank governor Michelle Bowman says that the use case for a central bank digital currency (CBDC) in the US remains unclear.

In a new roundtable speech at Harvard, Bowman says that there may be alternatives to CBDCs that already solve the same issues that a digital dollar purports to address.

Read the full article HERE.

Will The Government Track Every Dime You Spend?

Under an Executive Order with the innocuous number 14067 and its title, "Ensuring Responsible Development of Digital Assets", any transfer of funds to family, friends, charities, or clients using digital currency would be able to be tracked by the nation's central bank that issued this virtual money. 

Big Brother will be in your wallet every hour or every day. You will not be able to buy a stick of gum without a Federal Reserve computer knowing where, when, and to whom you just put down a buck.

Read the full article on the Gatestone Institute website HERE.