Cato Daily Podcast
Digital Currency or Digital Control?: Decoding CBDC and the Future of Money
Jun 18, 2024
Nicholas Anthony, author of 'Digital Currency or Digital Control?: Decoding CBDC and the Future of Money', challenges the arguments in favor of central bank digital currencies (CBDCs) in his new book. He discusses concerns about surveillance, control over money usage, loss of privacy, and the impact of CBDCs on financial control and increased surveillance. The podcast highlights the need for public awareness and opposition to CBDCs to prevent undesired repercussions in the monetary system.
27:00
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Quick takeaways
- CBDCs threaten privacy and financial freedom through increased surveillance and control.
- Opposition to CBDCs stems from concerns of government overreach and potential privacy breaches.
Deep dives
The Risks of Central Bank Digital Currencies
Central Bank Digital Currencies (CBDCs) are highlighted as powerful tools for financial surveillance and control that threaten privacy and financial freedom. While proponents argue for faster transaction speeds, existing private and public sector solutions undermine the necessity for CBDC intervention. The push for CBDCs is heavily criticized for granting governments unprecedented control over money supply, leading to increased surveillance and potential privacy breaches.
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