Central Bank Digital Currencies are coming

Re:Central Bank Digital Currencies are coming by joeyrideout on Sunday October 18, 2020 @02:01PM (#24819794)

If CBDC issuance coincides with banning physical cash, what makes you think that they won't enforce capital controls on alternative currencies?

[ Parent | on HN ]

Re:Central Bank Digital Currencies are coming by jmnicolas on Sunday October 18, 2020 @03:24PM (#24820377)

IMHO gold will hold value longer than their ability to enforce the ban.

The question is, will you live long enough to see the end of the ban. If you have children it may very well be worth it.

[ Parent | on HN ]

Re:Central Bank Digital Currencies are coming by est31 on Sunday October 18, 2020 @02:40PM (#24820092)

And there is precedent to this, see Executive Order 6102: https://en.wikipedia.org/wiki/Executive_Order_6102

[ Parent | on HN ]

Re:Central Bank Digital Currencies are coming by cblconfederate on Sunday October 18, 2020 @02:41PM (#24820103)

There is a universe of alternative currencies. If people truly start trading gold its not going to stop until they barter in peas or clams

[ Parent | on HN ]

Re:Central Bank Digital Currencies are coming by claydavisss on Sunday October 18, 2020 @02:11PM (#24819872)

A "ban" on gold would only achieve multiplying the spot price by ten overnight. It would be the final signal that fiat currencies should be avoided at all costs.

[ Parent | on HN ]

Re:Central Bank Digital Currencies are coming by octoberfranklin on Sunday October 18, 2020 @11:58PM (#24823215)

... and incentivize people to smuggle their gold out of the country.

International trade is far too large these days to stop gold-smuggling.

Look at the great job we're doing with drug smuggling. Most cocaine enters the US hidden in shipping containers.

[ Parent | on HN ]