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Charles Hoskinson pointed to a statement: “If cash were replaced with digital dollar, however, the Fed could impose a negative interest rate by gradually shrinking the electronic balances in everyone’s digital currency accounts, creating an incentive for consumers to spend and for companies to invest.”
Charles pointed to a video saying “Why CBDCs are a really bad idea“ that what they want to do is bring in this thing called “Central Banking Digital Currency”. They want to replace fiat paper money with digital money as a competitor to Bitcoin and crypto money, right?
But instead of being decentralized currency, it will be controlled by government. It is digital currency, but controlled centrally through the banks – Bank of England. So, instead of having a bank with whatever, HSBC or Bank of America. You have a bank account directly within the American Context, with the Fed in the UK directly with the Bank of England.
You have a personal bank account and you are given digital money in that bank account. These are called Central Banking Digital Currencies (CBDCs)
So, they are bringing in these CBDCs. Why is the word programmable in there?
So, What they said in that article and the chancellor put a video out saying this as well. They have said that this money that you will earn from work instead of paper money you have this digital money, it is programmable so that you can’t buy certain foods or if you do something that your employer doesn’t like, it’s all in that article. You won’t be able to spend your money. In other words, it’s not money. They are vouchers. They are like food vouchers. And, they could be programmed, like the Chinese social credit system, that if you try and use them on a certain thing, it would work. You say you want to buy a burger and they want you to buy, which is one of the examples used. If you start to try and buy unhealthy meat, just won’t work. It will not work paying for a stuff if you have spent your quota for that work.
So, it wont just work like money in the sense of the way like we have dollars or pounds today. It will be something that is controlled in terms of your ability to distribute it which is why I am calling it voucher. It It is a coupon.
This is sounding an alarm.
Community Reaction: Expiry date on your currency like milk.
