Don't get confused with Bitcoin. Central Bank Digital Currency is NOT bitcoin.
It's NOT cryptocurrency. Central Bank Digital Currency is money controlled by the government. So what are the dangers of this digital currency?
Here are the five greatest threats Central Bank Digital Currencies (CBDC) represent for Canadians and Americans.
1. More Government Spying - It's not just their ability to track what we buy, where we're buying it, and how our money comes in. That's not very different from what we're seeing today with a majority of expenditures through credit cards, PayPal, or other digital transactions. Centralizing all transaction records means they can piece together massive amounts of information about us that can be used to classify us in targeted groups. They won't just know what we're buying. They'll use that centralized data to know far more about us than anyone can possibly imagine.
2. Limitless Government Control - Today, governments across the globe and particularly in the United States enjoy a massive amount of control over the finances of the masses. Many are just now coming to the conclusion that if the government wants our money, they can take our money and there's not much we could do about it. This is one of many reasons I'm so bullish on people protecting their wealth or retirement with physical precious metals. I want something that requires men with guns coming to my home to confiscate it rather than some bureaucrat pawn pushing a button. With CBDCs, our money will literally be a push of a button away from no longer being ours.
It's YOUR HARD EARNED MONEY. NOBODY has the right to take away your money!
Read the full story here
https://jdrucker.substack.com/p/5-reasons-central-bank-digital-currencies