Skip to content

The government’s digital dollar is a risky bet

The government’s digital dollar is a risky bet

Berquist opened the discussion on CBDCs by highlighting the significant privacy concerns associated with these digital currencies. It also addressed the added dimension of environmental, social and governance (ESG) scores linked to financial accounts. His main concern, however, is that people may fall for the supposed convenience of these digital dollars without considering the potential downsides.

Christian echoed that sentiment, stating, “If they’re not paying attention, they will.” He detailed how the Biden administration quickly began exploring this digital dollar concept through an executive order. The Boston Federal Reserve partnered with MIT to produce white papers on the feasibility of this currency. Meanwhile, the New York Federal Reserve collaborated with Wells Fargo, Citibank and other major banks to test the deployment of this digital currency. All this took place under the veil of the pandemic, a crisis that served to distract the public’s attention.

He pointed to articles from CoinDesk and Fox Business News praising the potential of CBDCs, saying they could revolutionize global financial systems and were on the way, whether countries were ready or not. He further noted that 114 countries, which together account for 95% of global GDP, are currently exploring the digital currency concept.

Follow us on Rumble

Christian also sounded the alarm about a potentially dire consequence: a massive devaluation of our money. He noted the aftermath of World War II when Germany switched from the Reichsmark to the Deutsche Mark. This move resulted in an overnight loss of 90% of the coin’s value, a risk that could be repeated with the hasty adoption of digital currencies. The only ones who kept their wealth during the German currency change were those who had invested in gold.

Based on this historical lesson, Christian highlighted that banks around the world are buying gold at the fastest pace in the last 55 years. Central banks from China to Russia, Brazil, Iran and beyond are showing a desire to form a gold-backed digital currency.

This illuminating discussion between Berquist and Christian serves as a warning to the American public and governments around the world. While CBDCs may seem like a convenient and revolutionary step forward, it is crucial to consider the potential risks and ramifications before blindly adopting them.

Watch the full interview here:

America’s first patriot. One party hater. former lawyer Construction of the RVM network. i say what i say follow me Twitter.


Leave a Reply

Your email address will not be published. Required fields are marked *