What is a CBDC?
-A CBDC is a Central Bank Digital Currency. It’s digital money issued by a central bank.
CBDC vs Crypto
Cryptocurrencies and Central Bank Digital Currencies (CBDCs) have some similarities, but there are also some key differences between them. Here are a few ways that they differ:
• Issuer: Cryptocurrencies are decentralized digital assets that are not issued by a central authority. In contrast, CBDCs are digital currencies issued and backed by a central bank or government.
• Legal Tender: Cryptocurrencies are not legal tender, meaning that they are not recognized as a medium of exchange by governments. CBDCs, on the other hand, have the potential to be recognized as legal tender and used for everyday transactions.
• Control: Cryptocurrencies are not subject to the same level of control and oversight as CBDCs. Governments can impose rules and regulations on CBDCs, such as limits on transaction size or monitoring for illicit activities.
• Privacy: Cryptocurrencies may offer a higher degree of privacy and anonymity compared to CBDCs, which may be subject to government surveillance and monitoring.
• Technology: Cryptocurrencies use blockchain technology, which is a decentralized ledger that records all transactions. CBDCs can also use blockchain technology, but they can also be built on other types of centralized or decentralized infrastructure.
TOPICS AND TIMESTAMPS:
CBDC Not Yet 3:04
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#money #inflation #investing
46 Comments
Not going to accept anything from those thieves.
UBI+CBDC=DNGR
You clarified some things for me. I'm off to watch your "CBDC: Everything You Need To Know" video.
Thank you again for helping me learn something useful, past all the crap I learned in public school. God bless you & your loved ones, David…🇺🇸 😎👍☕
All "payment processors" do not accept cash. I can't pay my rent today with cash or check, only automated bank withdraw.
A CBDC system can be released at any time. It is government software and does not have to work. Affordable Care Act web sites did not work right for a year and a half after registration was required by law. CBDC could easily be the same.
We and our grandparents held on to using checkbooks for sometime it was very hard to let go of
Your explanations are always genius
Thanks, David! Great Video. I think you can do another one where you explain what's already happening in China and how the UBI will be linked to a social credit score system (powered by Ai). In my opinion we are on the way to a dystopian kind of communist system 2.0.
Being Lead To The SLAUGHTER If Accepted CASH IS KING
Nothing is for free.. someone always pays
I’ve thought for the longest time that they’ll also use peoples inability to pay mortgages with CBDCs in that interest rates and inflation will rise so high that anyone with mortgage debts will be unable to pay, and that’s when banks will say “sell your house / business to us for CBDCs and you’ll be okay!” meanwhile nobody will be buying those houses with cash.
I'm with you on this, and I agree that things can run side-by-side. I think the connection with the FedNow conflation is because it's on the blockchain and it's clearly a move towards a more digital system. It's not a far leap to think CBDCs will end up tying into it and that overall what's happening is they're building out the greater global system bit by bit. Many things that seem unrelated now will eventually be incorporated in. Interoperability is key.
……………………………..AM
UBI will likely be funded by this new programmable currency. You have spend it within a certain time. Additionally, you must comply with a certain agenda to receive your credits.
You are right about CBDC being accepted by people in order for this to work. So obviously if they give out free money I would sign up as well but the problem starts with the social credit score. This is where things get crazy. Now they will demand from us to eat bugs, buy LGBTQ beer,…so that we can have a good credit score.
That's what China did keep bought currency going and then demonize cash
Is that my main man Jerome holding a one trillion dollar coin?
Do you think that converting your cash to gold would be useful before this transition, or will private gold ownership be limited?
In the UK the banks charge for putting cash in for business accounts. My friend owns falafel store in the centre he said when he did cash between bank and employees making mistakes or stealing. It cost him more hassle to use cash so he is card only despite him being able to take away more using cash for himself rather than paying tax and transaction fees. He is looked over tax wise frequently because he is VAT (20%) except. His food is all fresh and not kept hot so he doesn't have to pay vat….. its the only way since lock down his making money. His sales are down 50% from lock down but ingredient cost and energy are up by about 30%…. you know because inflation is only 10% the government says…..
Great Job! Thanks v much!
CBDC is a tool for endless possibility of manipulation, I believe. In Heavens, there is no money. Beings who are there know Exchanger instead. Here on Earth, exchanger has to have also physical attributes in order to be factual. So this is, imo, big shit appearing on the horizon.
If I’ve learned anything it’s that there’s no such thing as a free lunch and there’s always going to be strings attached.
They can take their time rolling out these schemes as people just need to be distracted. We're going to just brush past the fact that the Russians, China, Iran are doing exactly what the West is doing at the same time?
Say NO to Geoengineering.
Thanks D.
Yeh xrp and xlm and other blockchain technologies those are the cbdc platforms going live in 2025 even world economic forum says it on their website ripple xrp is the world economic forums baby.
Another great video David! As always really appreciate your hard work and keeping us informed. I do think it is interesting how the FedNow payment system is using a company called Volante to make their payment system, faster and cheaper. What’s even more interesting is that using VolPay to facilitate these transactions, uses on demand liquidity, which is provided by Ripple and its XRP token. https://youtu.be/Kr28wXCIQl4
I don't understand why people watch all these Fibonacci levels and stress themselves out with trading when they can just deposit coins in reliable projects like Wixpool!
I'm missing something. If cash is a problem? Then why can the Biden family get 10 million deposited into their bank accounts TAX free? Cash is not the problem for taxes.
The banking system is the problem. What could be done is all checks have a tax code printed on them. One is tax free from your employer {taxs paid already}. The other has a code that deducts 20% in tax per deposit. Then you do the IRS form to explain why this is not taxable income. You know money that fell out of the sky into your bank account. Unlike they do me. IF I take out 10k or more they make a phone call. But the Biden family can deposit millions into their bank accounts and nobody bats an eye over it? The banks are the problem, it's that simple. If you make less than 75k they inform on you . If you deposit thousands of dollars. They could care less where the money came from. The way politicians like it.
stay well
Why did you show an image of a Bitcoin at the start ? It is the antithesis of a CBDC.
David, UBI will most certainly finish off any flicker of independence in people going forward. This stuff is right out of Satan’s playbook.
Since 1913 our Country has been under siege from 3rd party demons. Dissolve the FED NOW!
Holly sh… Universal basic income, like forever?
Isn't that what communism was all about?
What is the difference between CBDC, UBI and COMMUNISM? Yeah, not much.
Free money 🤣🤣💰🤣🤣🤘🤘……the exchange is personal freedom, blockchain was designed to track and restrict and tax anything exchanged for goods and services. So….think hard, no more under the table cash jobs no more cash to tipping idiots asking for handouts or busker’s ….. the digital world is deflationary in nature where spending is necessary to stimulate a destroyed economy decay time to spend is built into a digital currency system. Spend it or loss it, but be sure it’s only spend on what’s deemed appropriate to the controlling environmentalists that will debit you’re account for poor choices. 🤔🤔
They will have to do something to delay Fed bankruptcy.
The US passed a bill in November of last year, to implement digital currency in 2024
CBDC has the ability to do away with counterfeiting and also economic activity without taxation (ie off the books transactions). The scary thing is if CBDC is used to limit freedom, liberty and privacy. Laws will need to be passed to protect the individual from these negatives of CBDC. I don't think there is anyway to stop it from coming or to stay out of the CBDC system long-term.
Every retail store that has suffered retail theft since AOC said in congress meeting, people should be allowed to steal should sue her for their losses.
CBDC = loss of financial freedom = Americans as "economic slaves of the System".
IF your plastic card is stolen you're broke because the thief emptied your account.
Whoever can give you $3000.00 into an account can take away your $3000.00 from that account OR later penalize you. Too many people already have too little trust and too many people are very willing to take away what is already yours.
Hey Q. I heard about more violence in the US on another channel, said I would think about it. I've found that on the one side, the young generation is being raised to care about LGBTQ and pronouns. And on the other side the old generation is very busy with profiteering their freedoms maximally, promoting political incorrectness, abusing free speech wherever possible, promoting the second amendment and guns causing all kinds of problems. Do you think the old generation is too busy being greedy and selfish to honestly care about social problems? To me it just seems that way.
A UBI above $20,000 a month would allow me to quit trading otherwise it's a total waste of time.
Having a system that covers people works if its not a crutch that keeps them in place. The friction is who is the working poor and what do they do in the community. Is it worth trying to better your possition and that of your family? Or are the inheritors of property and health unassailable.
Population will start to be more aware about the seriousness of this soon. Some suffering Stockholm syndrome
Absolutely!…they need a major crisis…and they’re creating it now…the crisis of War, Economic Collapse, Famine & Pandemic disease..
and their solution will be signing up for the CBCD & the accompanying UBI along with another PLANDEMIC much more virulent & deadly along with a mandatory jab imposed by Martial Law “Peace Keeping” forces
Manufacturing the perfect crisis is “Their” specialty. Their “solution” will then be implemented.