Peak Prosperity CBDCs, Control, and Crumbling Fiat Currencies (Part 1)
Jul 31, 2025
Aaron Day, a Fellow at the Brownstone Institute and host of The Aaron Day Show, examines the intricacies of our debt-based currency system and the rise of Central Bank Digital Currencies (CBDCs). He discusses how 92% of currency is digital and the implications for individual control and privacy. The conversation highlights concerns about government surveillance and financial censorship, particularly in essential services. Day also critiques the role of elites in shaping societal norms through technology, raising existential questions about autonomy in a digitized future.
AI Snips
Chapters
Books
Transcript
Episode notes
Money Is Mostly Digital & Monitored
- Almost all money today is digital, created and tracked in databases by federal and commercial banks.
- Financial surveillance is already pervasive, with governments access to most transaction data without technological changes.
KYC/AML Laws Burden Privacy & Costs
- Know Your Customer (KYC) and Anti-Money Laundering (AML) laws severely restrict privacy and increase costs.
- They rarely stop crime but force banks to collect extensive personal data and share it with authorities.
Fiat Money Backed by Debt Fails
- Our fiat currency is a government debt-backed system that historically lasts about 27 years before collapse.
- The system inherently fails due to political factors driving continual money printing, creating boom/bust cycles.
