IMF says central bank digital currencies can replace cash

Re:IMF says central bank digital currencies can replace cash by happytiger on Monday November 20, 2023 @03:03AM (#38344279)

CBDCs are fine, but not as the “solution to everything” that is getting pushed by the IMF.

Cash and barter economies are literally the core of freedom from tyrannical forces, and in the era of AI, the last thing any of us should want is our economies managed by a single ledger under one real-time system with unproven and intrinsically vulnerable centralized control.

Resilience to AI powered disruption looks like diversity in the economic realm, not low cost streamlined centrally managed systems.

Have they learned absolutely nothing from the Internet?

[ Parent | on HN ]

Re:IMF says central bank digital currencies can replace cash by SturgeonsLaw on Monday November 20, 2023 @03:21AM (#38344576)

These same mindsets are shared by those who seek to put the internet under centralised control. Technocrats are digital autocrats. I don't like the idea of an unelected, unaccountable organisation having the ability to switch off people's money. It would be an extreme amount of power in today's economy, let alone a cashless society.

Canada has shown us that governments are willing to put the financial clamps on people due to political disagreements.

93% of reserve banks are investigating CBDCs. Anyone remember the conspiracy theory about a one world currency, and the financial stranglehold that would entail?

[ Parent | on HN ]