There has been much comment over the likelihood that central bank digital currencies will be introduced. I conclude they are unnecessary — a red herring. But it does allow us to discuss their possible relevance to a new Asian super-currency.
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CBDC: How COVID Became the Path to Global Financial Surveillance
It seemed evident for a while that the current fiat monetary system is, at best, unstable. At worst, it’s a Ponzi scheme whose time has expired. If that’s the case, I suspect the central bankers and 0.1% know this and might be prepared to usher in the new system before the old one collapses on itself – even as they loot it on the way down with the most significant wealth transfer in human history.
Continue reading CBDC: How COVID Became the Path to Global Financial Surveillance