Risks of Central Bank Digital Currencies

Central bank digital currencies (CBDCs) pose significant risks to individual liberties and state autonomy as they enable the federal government to monitor and control financial transactions. The potential for surveillance means that the government could dictate how and when money is spent, undermining personal freedom. For example, the concept of expiring money could prevent individuals from saving stimulus funds, forcing them to spend it within a specific timeframe. This level of control over currency can become a tool for suppressing dissent against unpopular viewpoints or industries, raising concerns about the overarching power of federal monetary policy.