Snowden: CBDCs Are Designed To Deny People Ownership of Their Money
Privacy advocate Edward Snowden published an opinion editorial covering the topic of central bank digital currencies (CBDCs). He wrote that CBDCs are “the newest danger cresting the public horizon.” Snowden argued that CBDC’s are “closer to being a perversion of cryptocurrency” and a “cryptofascist currency” rather than being an innovation.
Politicians and the modern banking cartel have recently been all about central bank digital currencies. However, not everyone agree to their benefits. In fact, a great number of critics believe they are no different than centralized databases.
The former Central Intelligence Agency (CIA) and National Security Agency (NSA) subcontractor, Edward Snowden, published an article describing what he thinks CBDCs will bring to society. Snowden is a fan of decentralized crypto assets like bitcoin, ethereum, and zcash. However, he is not quite convinced, when it comes to CBDCs, and is very concerned about adopting the technology. He wrote:
“I will tell you what a CBDC is NOT — it is NOT, as Wikipedia might tell you, a digital dollar. After all, most dollars are already digital, existing not as something folded in your wallet, but as an entry in a bank’s database, faithfully requested and rendered beneath the glass of your phone. Neither is a Central Bank Digital Currency a State-level embrace of cryptocurrency — at least not of cryptocurrency as pretty much everyone in the world who uses it currently understands it.
Instead, a CBDC is something closer to being a perversion of cryptocurrency, or at least of the founding principles and protocols of cryptocurrency—a cryptofascist currency, an evil twin entered into the ledgers on Opposite Day, expressly designed to deny its users the basic ownership of their money and to install the State at the mediating center of every transaction.”
The whistleblower argues that people earn a living via their labor and it could be enough to retire or if not, can they ever hope to rely on the State’s benevolent, or even adequate, provision — for their welfare, their care, their healing?
He also has a question to members of the Fed, the Treasury, and the U.S. government whether or not money should be centralized by the state:
”Of all the things that might be centralized and nationalized in this poor man’s life, should it really be his money?”
Eddie Hobbs: Your Savings Are Collateral Damage in the New Rules of the Game
According to a financial advisor and writer Eddie Hobbs, the future of this corrupt monetary system can be seen from a mile away, and in another recently published opinion editorial: Your savings are collateral damage in the new rules of the game. Hobbs argues that the surge in excess global debt cannot be helped, except by suppressing benchmark interest rates for a decade or more.
“Central Banks know this, that letting loose inflation is the only way out, while governments jack up borrowing to world war levels hoping to reignite growth faster than the debt piles up. The ECB intends to ride shotgun, letting time and inflation erode the real value of outstanding debt while they play their part by crushing rates into negative territory.
Savings are collateral damage in the new rules of the game. Irish Banks are charging up to -0.65% to hold cash. So far, it has sharply curtailed Credit Union’s capacity to take in cash and is hurting corporate deposits, trusts, and charities, but it is coming your way next year once it seeps down from seven-figure consumer deposits. You can ignore bank propaganda to the contrary.”
