CBDC is the financial prison governments dream about

Since forever, governments have loved finding new ways to oppress and control people—it’s what government is best at, after all. As technology advances, elites and government officials are finding new ways to commit such acts and be more efficient at it.

A while back, I was asked by a friend why a central bank digital currency (CBDC) also known as a “digital dollar” would be such a bad thing, as, technically, we already have digital dollars. That number in your bank account is digital. Banks don’t just keep our money in a vault somewhere, after all. They take our money and put it into investments. They set aside a certain amount of money so that if you wish to withdraw your money, they can hand you physical cash. Of course, if everyone went to their bank asking for their money, the bank would not be able to provide everyone with their physical fiat currency.

My friend went on to point out what happened to the truckers protesting the vaccine mandates in Canada who had their bank accounts frozen under direction of the tyrannical Canadian government.

So, how would a CBDC really be different than our current U.S. dollar?

Freezing bank accounts would be WAY easier for governments with a CBDC

With a CBDC, the government could freeze your bank account with the flip of a switch. In the U.S., when a bank account gets frozen, it can be for a few reasons including suspicious activity, account inactivity, and unpaid debt. in the latter case, a creditor or debt collector can obtain a court judgment against you or your joint account holder, and the account will be legally allowed to be frozen so that the funds in the account can be held for later collection by the creditor.

Thanks to the first amendment of the U.S. Constitution, the government cannot freeze the bank accounts of protestors as it would be an infringement on their right to freedom of speech. If a private bank decided to freeze your account due to political differences (as private businesses are not under the scrutiny of the constitution), the private bank could face backlashes caused by a free market where people begin pulling their money out of the bank, worried of who the private bank would go after next.

Under the current system, freezing people’s bank accounts is not lucrative for private banks and would be difficult for government to do as they would have to go through private banks to freeze accounts and private banks always have the right to tell the government, “No,” especially when it infringes on people’s rights.

Your money could expire

Are you saving for anything? A car? A house? Retirement? What if the government decided you weren’t allowed to? You would be quite literally a slave to the government, forced to work and never to retire or save up to buy the things you want. At the World Economic Forum’s (WEF) 14th Annual Meeting of the New Champions (aka Summer Davos) in Tianjing, China, Eswar Prasad, a professor from Cornell University said the quiet part out loud.

"You could have a potentially [...] darker world where the government decides that [CBDC] can be used to purchase some things, but not other things that it deems less desirable like say ammunition, or drugs, or pornography, or something of the sort": Eswar Prasad, WEF #AMNC23 pic.twitter.com/KkWgaEWAR5

— Tim Hinchliffe (@TimHinchliffe) June 28, 2023

“If you think about the benefits of digital money, there are huge potential gains,” said Prasad, adding, “It’s not just about digital forms of digital currency; you can have programmability — units of central bank currency with expiry dates.”

Currently, money cannot be programmed to expire, but that could change with a CBDC. If the government gets to decide when you spend your money, it’s no longer your money.

You could not buy the things you want

Along with the programmability that would cause your money to expire, the government could also decide what you’re allowed to spend your money on. At that same WEF meeting, Prasad continued telling what tyranny CBDC could bring.

“You could have […] a potentially better — or some people might say a darker world — where the government decides that units of central bank money can be used to purchase some things, but not other things that it deems less desirable like say ammunition, or drugs, or pornography, or something of the sort, and that is very powerful in terms of the use of a CBDC, and I think also extremely dangerous to central banks.”

If the government gets to decide what you spend your money, it’s, also, no longer your money.

You may be microchipped

This may sound like a conspiracy theory, and this information comes from a far-right news source, according to media bias fact check so it may very well be. However, I bring this up because there is a lot of talk about people being microchipped, including by the WEF (which has talked about it favorably on multiple occasions). On top of this, it is the WEF who potentially declared that, if you want to participate in society and do basic things such as buy food and water, you must be “implanted with a CBDC microchip in the very near future.”

According to economist and professor Richard Werner, speaking at the Amsterdam Science Summit 2022, “You will get 2,000 Euros into your account every month.  But of course, to run this efficiently [they’ll say:] ‘We need to use the latest technology so you need the CBDC chip implant’.”

As reported by expose-news.com, Prof. Werner spoke to Ivor Cummins about CBDCs and how high inflation has been orchestrated by central banks to further their agenda. The article dives into a “post-crisis monetary policy” called “Quantitative Easing” which has two aspects: QE1 and QE2.

According to this reporting, “Prof. Werner explained that the central planners, as he calls them, orchestrate inflation to cover up changes to banking systems. For example, in the 1970s high inflation was orchestrated to cover up the move of the gold-backed US dollar to the petrodollar. And the high inflation we’ve experienced in 2021/2022 has been orchestrated to cover up the move from the petrodollar to CBDCs.”

I will say again, this information comes from a questionable news source, however, I still see this information as valuable as it isn’t out of the realm of possibility and it’s important to think of all potential attacks on freedom in order to best combat them. The articles are also interesting, and are linked if you would like to read them in full.

Conclusion

Cash doesn’t judge, nor does it snitch. I am a proponent for normalizing the use of cash in day-to-day transactions. Privacy is key to a free society. If government is able to monitor all of your financial decisions, and program your money to their liking, you are not free, but rather a slave to the government through the use of financial tyranny. If they are able to microchip you, you are giving them control not only over your finances, but also your own bodily autonomy. CBDCs have no room in polite society and those who discuss it as if it does should be looked down on with scorn as they, also, do not belong in polite society as they are quite literally entertaining the idea to bring world-wide slavery. There is no other reason to entertain the idea of a CBDC. The risks far outweigh any minor benefits.