🔥 I’M GOING ON THE ATTACK🔥
In this podcast I take on the TOP 10 LIES about CBDC with the ever-fantastic Efi Pylarinou!
Timestamp:
🔹3:00 Anti-CBDC attack theme! Retail vs wholesale CBDC.
People are only concerned with retail CBDC.
🔹5:50 NO 1, An account with the Central Bank!
You will not have an account at the central bank! You will get CBDC -tokens- from your bank as you do with cash today.
🔹9:15 NO 2, Banks are not going to disappear!
CBDC will not destroy banks. Banks will have the same role in cash distribution that they have now with cash and credit cards! You keep your bank!
🔹10:30: NO 3, Visa and MC will die!
No, they too will participate in CBDCs!
🔹11:25: NO 4, Arthur Hayes “CBDCs are EVIL!”
Arthur Hayes is FEARMONGERING! He believes that money should be free of gov’t and is a convicted criminal in the US because of it.
Arthur knows that CBDCs keep the relationship you have with your bank. The gov’t doesn’t know who is spending CBDC, they don’t have KYC data!
🔹15:55 NO 5, CBDCs are dangerous and used by authoritarian regimes! The future is permissionless!
CBDC are similar to credit cards and not dangerous. Bitcoin maximalists have a religious belief in permissionless but try getting them to pay taxes! Authoritarian gov’ts don’t need CBDCs to control! China’s CBDC delivers greater privacy than what they have now!
🔹24:20 Why would gov’ts need more authoritarian power than they already have?
Canada shut down 300+ bank accounts this year without CBDCs! You have digital money today, the gov’t can shut it down.
🔹26:50 NO 6, Programmable CBDCs are Satan incarnate.
The gov’t will program your money and tell you what to buy! We ALREADY HAVE programmable money! People demand it for social payments!
🔹32:50 NO 7, CBDCs will be the only payment option!
In the future digital wallets with many digital ways to pay not just CBDC. You will have more choice!
🔹37:20: Money laundering and crypto.
The crypto world was founded upon a lie that the crypto community was good and would use crypto for good! Permissionless, untraceable money doesn’t work in real societies with BAD people. Crypto has a right to exist, but MUST be regulated!
🔹42:00: NO 8, Russell Brand, CBDC leads to social credit.
I live in China believe me I know what social credit is! Late payment for a gas bill is not social credit. Social credit is data collected from social contact, payments are a small part.
🔹48:00 NO 9, Exec order 14067 allows the US gov’t to turn your money off!
BUNK! This is Biden’s executive order to research CBDC! It isn’t authorization to build one!
🔹50:00 NO 10, Will CBDCs allow overprinting?
The real issue is how much gov’t is spending through BONDS! NOT CBDCS! Bond issuance causes more debt than CBDCs!
THANK YOU, EFI!
Thoughts?
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