Yes, and armies can do all sorts of stuff. I live in a place where I broadly trust the powers that be to be acting in my interests. Call me nigh eve, I won't regard that as sawdust.
It's politics so I try not to spend time on it - but I'd imagine he would have a decent shot at it if only he was a decent speaker (apparently its some sort of previous illness that has caused the raspy voice). To my point above, you say he's a nutter but he appeals to voters from two sides of the political divide in the US given some of the positions he's taking.Thanks @Dermot. I read about him before this, he is a bit of a nutter.
I specifically didn't mention Bitcoin for that very reason (non-BTC thread) - but seeing as you have now brought it up, yes, he's in favour.Kennedy does not actually support bitcoin in the above article, just an ideological attachment that Americans can do whatever they want, fair enuff, but to avoid going off topic, this topic is not about bitcoin.
It's all in the implementation. You think the Chinese are not going to use it as a means of tyranny? Of course they will. That's probably why their digital yuan project is light years out in front of all others in terms of its stage of development/roll-out. You can say 'but we're not China' - fair enough. However, when people recognize that the technology can potentially be used against them, who is asking the hard questions and ensuring that the right steps are being taken to prevent non-aligned use of the technology? Who is weighing up the risk/reward of giving this extra power to a CB?I am really not seeing just in what way CBDC will lead to George Orwell's dystopia.
Maybe nigh eve was the wrong word. I should have said "stupid" because from what I have read I just don't see the huge powers that say Fierce Doherty would have with a CBDC.Yes, I do regard this as extremely naive. Even if the current 'powers that be' appear to be acting in your best interests, the next ones might decide not to. Don't give them power; you won't get it back.
For sure being a nutter does not preclude one becoming POTUS. The BoE is in no rush to CBDC and with this sort of "CBDC is a Chinese conspiracy" motif I don't see a CBD$ any time soon. No big deal.It's politics so I try not to spend time on it - but I'd imagine he would have a decent shot at it if only he was a decent speaker (apparently its some sort of previous illness that has caused the raspy voice). To my point above, you say he's a nutter but he appeals to voters from two sides of the political divide in the US given some of the positions he's taking.
Well then he is a certifiable nutter but let's not go off topic.I specifically didn't mention Bitcoin for that very reason (non-BTC thread) - but seeing as you have now brought it up, yes, he's in favour.
I am as much a subscriber to the "yellow peril" as the next person, I just don't see how CBDC will give them a route to tyranny that could not be pursued and are being pursued by much more direct methods. Please draw diagrams for me as to how "Someone's wealth could be switched on or off in an instant." Just take me for an example. My wealth consists of my house, my pension, my investments and a very small holding of money for day to day purposes.It's all in the implementation. You think the Chinese are not going to use it as a means of tyranny? Of course they will. That's probably why their digital yuan project is light years out in front of all others in terms of its stage of development/roll-out.
Please help me recognise how CBDC could be used against me.You can say 'but we're not China' - fair enough. However, when people recognize that the technology can potentially be used against them, who is asking the hard questions and ensuring that the right steps are being taken to prevent non-aligned use of the technology?
Being a nutter does not preclude one becoming POTUS.
In your case, and your consideration of this (and everything else), it's not really off topic. Some day you might consider taking the blinkers off Duke.He is a certifiable nutter but let's not go off topic.
Not the best use of my time given that I see how you're setting out the wagons (I have no money for them to take from me). We've done this already. I'll await someone else to bring a fresh perspective to the topic if it's alright with yourself.I am as much a subscriber to the "yellow peril" as the next person, I just don't see how CBDC will give them a route to tyranny that could not be pursued and are being pursued by much more direct methods. Please draw diagrams for me as to how "Someone's wealth could be switched on or off in an instant." Just take me for an example. My wealth consists of my house, my pension, my investments and a very small holding of money for day to day purposes.
Please help me recognise how CBDC could be used against me.
There are far more people out there that recognize the dangers of a CBDC than there are folk who will disagree with you on BTC. A 5 minute google search will throw up a wealth of rationale as to the dangers. Start there if you're really so inclined. I know you're a committed statist and so I know you simply will refuse to recognize those very real risks and dangers - so on this occasion, I'm not going there.Please help me recognise how CBDC could be used against me.
I've no desire to go over that a 5th time. I explained it to you - and you turned your nose up at it because you reckon it won't affect you - despite the fact that such a scenario would in the case of the vast majority of folks on the planet.@tecate so no answer to how "Someone's wealth could be switched on or off in an instant."
Did it ever occur to you that there's more going on out there besides your obsession with the shinners?Obviously others see other ways in which Fierce Doherty could use CBDC to oppress me.
I certainly did. You said that you're genuinely interested in the topic and that you're agnostic re. a CBDC. That's a bare faced lie. Like a good little statist disciple, if the CB geniuses are suggesting it, you're backing it. As you've explained, you 'trust' them and have 'faith' in them.But I see you refer me elsewhere to find how.
See above. It's [you're] certainly disappointing.Disappointing as I had hoped this topic could be informative in its own right.
Yeah, I'd love to see it. I'll likely be low energy on this one. I think anyone that wants a CBDC without at a very minimum seeing some reassurances re. implementation is bonkers. I also believe that CBs and governments won't be able to help themselves and it won't be that long until there's quite a few of them floating around.Maybe others will fill the gap.
That's all very well until its Taoiseach MacDonald and President Adams.Yes, and armies can do all sorts of stuff. I live in a place where I broadly trust the powers that be to be acting in my interests. Call me nigh eve, I won't regard that as sawdust.
He didn't say it was an advantage. He said it could bring us to a very dark place. I agree with everything he did say. The dark place is the one that the Cato Institute also alluded to. For those who want the Noddy guide, this is a description of the dark place. All financial transactions are in central bank digital money; the government has access to full personal data on all financial transactions in the economy; hence the government can decide which people and what items will be allowed to participate in the economy.Here's a CBDC proponent (Eswar Prasad, Cornell), appearing at a World Economic Forum event, confirming that the great advantages of a retail CBDC include programming in an expiry date into your money and deciding upon what you can and can't spend your money on.
LINK.
Why not? That ability can be programmed in.And even in this worse case scenario a person's wealth could not be turned on or off at a switch.
No! I explained that my estates, stables, horses and my two Rollers are not money and therefore will remain mine. Of course the government could always confiscate them but not by the flip of a CBDC switch, they could do that now.Why not? That ability can be programmed in.
I've no intention in doing so. You're out of touch as regards what constitutes 'wealth' for the vast majority of people around the world.No! I explained that my estates, stables, horses and my two Rollers are not money ....Look, drop the "someone's wealth could be turned off or on at a switch".
What is the difference between a CBDC and euros that are never in cash form?
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