It looks like the president of the Federal Reserve Bank of Minneapolis is dropping the bomb on CBDCs and admitting some very interesting aspects about them. Check out the latest reports below.
CBDCs and their “benefits”
President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, admits that CBDCs don’t solve any actual problems other than enabling central bankers to monitor all transactions and deduct taxes directly from people’s accounts, according to a new post on X, formerly known as Twitter.
“I keep asking anybody, at the Fed or outside of the Fed, to explain to me what problem this is solving… I can see why China would do it. If they want to monitor every one of your transactions, you could do that with a central bank digital currency. If you want to directly tax customer accounts, you could do that with a central bank digital currency. So I get why China would be interested. Why would the American people be for that?”
You can watch the video shared on X below:
President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, admits that CBDCs don’t solve any actual problems other than enabling central bankers to monitor all transactions and deduct taxes directly from people’s accounts.
“I keep asking anybody, at the Fed or outside… pic.twitter.com/tqmsQHlkD2
— Wide Awake Media (@wideawake_media) March 24, 2024
Someone noted the following:
“60% of all u.s. taxes go to paying the interest on our debt… Just the interest… And every day the debt grows larger. Your taxes are not building roads, infrastructure, or anything. They are going to the same banks that fund both sides of EVERY WAR. End central banks now!”
Another follower said: “I think THE PEOPLE can make use of blockchain techs and place their governments on stern ‘chains’ . This whole idea of control by elites using this tech on us could easily just be flipped around and we can use it on them instead. That’s where it belongs.”
More countries are already working on pilot programs regarding CBDCs and we have to wait and see where they will actually be implemented and when.