The benefit of CBDC is that a sufficiently-sized EMP would wipe out everyone's debts along with everyone's wealth. It's like a Year of Jubilee forcefully imposed by the Sun God Himself.
The damaging part is devaluing the paper cash. When there's no power, what do you use? Not coins and bills, we discontinued them and called them worthless.
OK
So we dug up a pallet of cash from a landfill to use during our EMP emergency. Cool, but what is a $1 worth? 1 dollar equals 1 cbdc at the time of impact? 1 cbdc as of the most recent system backup? As of last years audit?
Or is a dollar just worth what a dollar was worth before it went defunct? Okay but is that pre- or post-covid hyperinflation? Like are eggs $3, $9, or $800 a dozen? What if you go to the next town over, is a dollar still worth the same? Last word from the government is that they're valueless.
I think ruining the cash implies an enemy preparing us for EMP. Look at Venezuela though, EMP isn't even necessary with sufficiently inept puppets in office.
If an EMP took out those computers, our water system, refrigeration, transportation, basically everything would be f-ed. Lack of coin and paper cash would be a small issue.
The downside being, the fattest pig in the biggest suit will assert that everybody knows I basically owned it all, so during this period of blackout, I will continue to own it all.
The benefit of CBDC is that a sufficiently-sized EMP would wipe out everyone's debts along with everyone's wealth. It's like a Year of Jubilee forcefully imposed by the Sun God Himself.
Wouldn't an EMP like that wipe out the current system? Bank deposits, debts, stocks, property deeds(?) are all digital.
The damaging part is devaluing the paper cash. When there's no power, what do you use? Not coins and bills, we discontinued them and called them worthless.
OK
So we dug up a pallet of cash from a landfill to use during our EMP emergency. Cool, but what is a $1 worth? 1 dollar equals 1 cbdc at the time of impact? 1 cbdc as of the most recent system backup? As of last years audit?
Or is a dollar just worth what a dollar was worth before it went defunct? Okay but is that pre- or post-covid hyperinflation? Like are eggs $3, $9, or $800 a dozen? What if you go to the next town over, is a dollar still worth the same? Last word from the government is that they're valueless.
I think ruining the cash implies an enemy preparing us for EMP. Look at Venezuela though, EMP isn't even necessary with sufficiently inept puppets in office.
If an EMP took out those computers, our water system, refrigeration, transportation, basically everything would be f-ed. Lack of coin and paper cash would be a small issue.
The downside being, the fattest pig in the biggest suit will assert that everybody knows I basically owned it all, so during this period of blackout, I will continue to own it all.