CBDCs and The Privacy Fallacy

In today’s post, I want to talk about CBDC’s (Central Bank Digital Currencies) and the myth that is being pushed around privacy. 

And this is really going to be pretty straightforward. Proponents of CBDCs maintain that anonymity and privacy can be protected with a CBDC. But here’s the rub, the only way that this could occur is if existing anti-money laundering rules are tossed out, and that’s simply not going to happen.

And just to give some brief info on AML, AML is laws and regulations that essentially attempt to identify suspicious and illegal activity like money laundering.

So, this raises the question, why on earth would we believe that the federal government would do transactions when they don’t know who is on the other end? For reference, this is outlawed in banking as the banks cannot do transactions with anonymous people. 

So, we can see that CBDCs are not going to be able to keep up the privacy (anonymized names) that they’ve so promised.

As I read more and more, I personally am starting to believe that cash will be outlawed and that there will essentially be three main payments system, one is the CBDC, the second is crypto and third will be hard assets. IMO, I think that the govt will really try to force everyone into CBDCs and that cryptocurrencies will begin to be heavily regulated, and perhaps they might take even more extreme measures. Now hard assets, like gold and silver, should come on slower as people will need something limited in supply and that is physical.