Thanks for the link, but Kim is way out of his league. Her errors and misreading on the banking issues are too numerous to mention, and hilarious as hell.
There are much better sources. Melissa Ciummei comes to mind.
CBDCs will not (yet anyway) replace ALL commercial money (M2 and beyond), but only the liabilities of the central bank: i.e. physical currency, notes and coins.
And yes, that alone is bad enough, and should be resisted. Use cash.
Cash (coins, notes) is the liability of the central bank.
Cash will be replaced by CBDC in your Fed digital wallet app.
When?
When Fed says so, and over a transition period over which you can use both.
When will it commence? Depending on country, starting in 2023.
When will USA face it? Starting in 2024-2025 is my guess.
But it takes another big crisis and the gospel of CBDCs to get there.
Thanks for the link, but Kim is way out of his league. Her errors and misreading on the banking issues are too numerous to mention, and hilarious as hell.
There are much better sources. Melissa Ciummei comes to mind.
CBDCs will not (yet anyway) replace ALL commercial money (M2 and beyond), but only the liabilities of the central bank: i.e. physical currency, notes and coins.
And yes, that alone is bad enough, and should be resisted. Use cash.