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Financial expert warns about central bank digital currency in the USA: risks to financial freedom and independence
According to a report by www.quotemeter.de, former Republican presidential candidate Vivek Ramaswamy expressed concerns about the introduction of a central bank digital currency (CBDC) in the US in an interview with Bloomberg Television. He warns that such a currency could restrict citizens' financial freedom. Ramaswamy emphasizes that the government could use a CBDC to financially sanction citizens who disobey it. He compares these potential dangers with current developments in China and points to the example of the Canadian truckers who lost access to their bank accounts as part of the “Freedom Convoy” protests. He sees a CBDC as a threat to freedom,...
Financial expert warns about central bank digital currency in the USA: risks to financial freedom and independence
According to a report by www.quotenmeter.de, former Republican presidential candidate Vivek Ramaswamy expressed concerns about the introduction of a central bank digital currency (CBDC) in the US in an interview with Bloomberg Television. He warns that such a currency could restrict citizens' financial freedom.
Ramaswamy emphasizes that the government could use a CBDC to financially sanction citizens who disobey it. He compares these potential dangers with current developments in China and points to the example of the Canadian truckers who lost access to their bank accounts as part of the “Freedom Convoy” protests. He sees a CBDC as a threat to freedom because it could allow the government to delete bank accounts or funds if someone speaks out against the government.
Ramaswamy praises Republican front-runner Donald Trump for his rejection of CBDCs. Trump has publicly stated that he will never allow the creation of a digital dollar and also praises Ramaswamy for this stance. In conversations with Trump, Ramaswamy shared his concerns, after which Trump publicly spoke out against the introduction of a CBDC.
As a financial expert, it is important to analyze the potential impact of a central bank digital currency. By introducing a CBDC, citizens could actually face increased government control and surveillance. This, in turn, could lead to citizens feeling restricted in their financial decisions and potentially considering using alternative currencies or assets. This would potentially destabilize the traditional financial market and increase the adoption of cryptocurrencies or other decentralized financial instruments.
It is therefore important to take the concerns of Ramaswamy and other financial experts seriously and carefully consider the potential impact of a CBDC. A comprehensive analysis of the opportunities and risks is essential in order to make a balanced and informed decision about the introduction of a central bank digital currency.
Read the source article at www.quotenmeter.de