Their Excuse:
The issue with the current currency is that there is a conversion rate (dollars to euros etc) and it then makes it harder to coordinate cross border transactions.
Reality:
See above to make a global coin. This coin can then be isolated in to a single digital wallet and thus a single database. A global wallet with a global ID under control of a global entity. No more cash as a ssfety net. Then they can stop pretending the Central Bank is not own by one family any ways. The consequence as we have seen is that then under their discretion, they can regulate your spending ie social credit.
Yeah, I mean it's obvious that it's not going to make transactions easier because you would presumably have to convert usd to CBDC make the transaction, then CBDC gets converted into euros. Maybe I'm stupid, but I don't see how this helps.
Also seems like an obvious threat to the USD as a reserve currency. Why trade in USD when there's CBDC?
You misperceive about what CBDC is intended -- there will be no USD or EUR etc.. the goal is to have one currency globally. They are naming them different so as to appear not as a global currency but there is literally no actual difference. They are all issued by Central Banks and transactions between banks.
What you need to notice is that there are two types of CBDCs -- one is a "wholesale" CBDC and the other is "retail" CBDC.. and the red flag is that one is for corporations (aka elite coin) and one is for consumers (peasant coin). No one seems interested in asking why there is a difference but they are willing to accept that the difference is "to ease transactions for corporate and consumer" (._.)> nope.
In the end, when cash shortages come in the next 2 years.. its time to presume social credit is here. Frankly the only best case scenario now is sabotaging the electrical grid and breaking off communities in to new countries We have past the threshold on saving what we have.
Can someone explain this without any angle: what benefit does CBDC have over regular old currency? Isn’t it all dealt with digitally anyway?
Their Excuse:
The issue with the current currency is that there is a conversion rate (dollars to euros etc) and it then makes it harder to coordinate cross border transactions.
Reality:
See above to make a global coin. This coin can then be isolated in to a single digital wallet and thus a single database. A global wallet with a global ID under control of a global entity. No more cash as a ssfety net. Then they can stop pretending the Central Bank is not own by one family any ways. The consequence as we have seen is that then under their discretion, they can regulate your spending ie social credit.
Yeah, I mean it's obvious that it's not going to make transactions easier because you would presumably have to convert usd to CBDC make the transaction, then CBDC gets converted into euros. Maybe I'm stupid, but I don't see how this helps.
Also seems like an obvious threat to the USD as a reserve currency. Why trade in USD when there's CBDC?
That's gonna be a hard no from me.
You misperceive about what CBDC is intended -- there will be no USD or EUR etc.. the goal is to have one currency globally. They are naming them different so as to appear not as a global currency but there is literally no actual difference. They are all issued by Central Banks and transactions between banks.
What you need to notice is that there are two types of CBDCs -- one is a "wholesale" CBDC and the other is "retail" CBDC.. and the red flag is that one is for corporations (aka elite coin) and one is for consumers (peasant coin). No one seems interested in asking why there is a difference but they are willing to accept that the difference is "to ease transactions for corporate and consumer" (._.)> nope.
In the end, when cash shortages come in the next 2 years.. its time to presume social credit is here. Frankly the only best case scenario now is sabotaging the electrical grid and breaking off communities in to new countries We have past the threshold on saving what we have.