Why Central Bank Digital Currencies Are So Dangerous

[@stevieyoutube2170]

This is exactly the reason why self driving cars are so dangerous as well. Self driving cars would allow direct control and manipulation of where you can and can't go. Using your exact same protest example, if there's a protest you want to participate in that the government doesn't like and they consider you a "threat to democracy", they could simply keep your car from working anywhere near where the protests are taking place.

[@illuminate4]

definitely a more dystopian answer but certainly food for thought

[@meekmeads]

They would even make the car drive to a re-education facility instead.

[@dasiksupahuman]

Oncoming traffic most likely.

[@swiftmatic]

Drive you to the nearest FBI office...

[@ThomasMadden-hd1oz]

Also, hackers might hack your car for their own negative reasons.

[@joejohnson4183]

What I worry about is the younger generation that strives for convenience and the ability to do everything on their phone including buying and selling . They do not understand what they are giving up which is security over convenience . Cash is still king and should remain so .

[@robedmund9948]

They have been trained to accept a lack of control over their lives.

[@RichardGeiszler]

Cash works even in case of power &/or internet outage.

[@tf5pZ9H5vcAdBp]

Our dollar isn't going to be worth anything long before the power goes out.

[@adiganon]

You meant commodities.

[@greenzombie77]

Power corrupts. As we know. What could possibly go wrong?

[@TwilightMysts]

A key difference between the Canadian trucker protest and a CBDC is that with the protest, if you have physical cash, you can still function in society (at least until you run out of money) though some businesses no longer accept physical currency. With a CBDC, there is no physical currency anymore, meaning you aren't restricted, you are completely banned from being able to transact. The only prayer you have is to find people who are willing to do some bartering. This is also why it is a good idea to have a few hundred dollars of physical cash on hand (if you can afford it, I realize some people are so tight they can't do that).

[@user-vm5ud4xw6n]

“And no one could buy or sell anything without that mark…” Rev. 13:17

[@RichardGeiszler]

China's CCP has a social credit score system which has control of many aspects of their subjects' lives.

[@Tdzzz450]

Sounds similar to your credit score 😂 you mess that up and you’re homeless

[@TyeDPod]

@Tdzzz450 A bad credit score in the USA won't stop you from traveling, going to school, or getting a hotel.

[@Tdzzz450]

@@TyeDPod where is the source of this info? I know many and have travelled to the country, no one knows what this score is.

[@consco3667]

We will as well. Watch

[@javabean215]

So you're telling me the government could stop me from spending my own money on, oh, I don't know.....more guns and ammo? That's a hard "no" for me......

[@__-pl3jg]

My perfectly mundane comment agreeing with the video content was just censored.

[@mustang607]

I get a lot of those. I sometime repost those in broken up sections to determine what part actually flagged the anti-free speech censorship bot.

[@aldonapolitano5979]

I feel your pain.

[@l1bertymax1mus]

Hold up? Is this why I sometimes can’t see my comments? Damn smh

[@Nmdixon-cu7vm]

@@l1bertymax1musyup. I swear you could type “I like cookies” and it’s removed.

[@mustang607]

@@l1bertymax1mus often the one that posted the comment can still see the comment. It's everyone else that never sees the comment. You actually have to use a different account to not see the comment. There's a shadowy term for this tactic.

[@OasisAcres42]

Ty ❤

[@thogevoll]

NICK, didn't the CCP aready do this in China or effectively so?

[@__-pl3jg]

Yes, they have. Russia also did it in the 1920's which they used quite effectively to persecute enemies of the state.

[@selohcin]

@@__-pl3jg Russia most certainly did not have a DIGITAL currency in the 1920s. Seriously, people.

[@RedRyan]

People be crazy​@@selohcin

[@Blakehx]

The concept of a CBDC doesn’t make sense anyways… half of the reason for creating cryptocurrencies was decentralization and getting away from government control! It’s like getting away from control of your nosy parents by moving… and moving into a different bedroom!🤔🤷🏻‍♂️

[@Tdzzz450]

If you want to get away from government control, you shouldn’t be using currency in said country? And strictly use metals like gold or alts like bitcoin. But that’s feasible because no one in real life accepts those payments.

[@THall-vi8cp]

A CBDC isn't necessarily a cryptocurrency. Governments don't like cryptocurrencies because they can't control them. A CBDC, by comparison, is just digital transactions, like running a credit or debit card. The difference is it would all be under the control of a single central federal bank.

[@YouilAushana]

I love you logic

[@aldonapolitano5979]

Just imagine, all of your money is chipped, and so are you and all the money you receive has to be assigned to you digitally.

[@lanedexter6303]

Jefferson agued against paper money, believing we should hold gold, silver, and copper in hand for its intrinsic value - and the poor guy ended up on the two dollar bill.🙄

[@KentoLeoDragon]

If central bank digital currency is a dictator's dream, then I'm curious why they aren't already doing it? What prevents them?

[@mannyjeanpierre4062]

fear of a revolution, amount of digital currency already being used (minimal currently). But im sure its already been tried as mentioned in the video

[@Pollsonthedaily]

Because everyone would realize that their well-being is under threat. Thus making everyone angry and imploring them to go riot or attack government agencies.

[@Tank50us]

@@mannyjeanpierre4062 Yeah, people are too aware of the threat and what it'll entail. They need things to quiet down again, or, for a 'viable reason' to push it to come up. As for what would count as a viable reason... well... I'm sure you've played or heard of "The Division", and I'm sure you don't need much imagination there...

[@akirak1871]

They take our liberty away with a "frog boiling" approach: e.g. if you want to boil a frog, you can't just drop it into hot water because it will immediately jump out. You have to slowly turn up the temperature so that the frog doesn't notice, and by the time the water starts boiling, it has already been partially cooked and can no longer jump out... Ok, it's hokey but it explains what's going on. They can't just get away with literally anything they want; there has to be a pretense. Remember the "Disinformation Governance Board" that was quickly disbanded? They tried to grab too much at once, and people were onto it. The massive public outcry forced them to shut it down. Now, these things have a way of coming back when there's a suitable pretense. Much of the Patriot Act was written in the '90s but couldn't pass Congress. When 9/11 happened and emotions were running high, they rushed it through. Maybe they couldn't get away with just creating a CBDC right at this moment. But perhaps when the next financial crash happens, they'll make some promises of greater financial security if you'll sign up for this new program. In fact, they might even give you a free thousand or so in funds if you'll transfer all your assets into this new currency they've created! I'm just imagining how it might go down, but the point is that they have to either 1) move these things in such baby steps over a long period that it mostly stays out of the news, or 2) wait for an appropriate crisis and sell it as the solution.

[@THall-vi8cp]

@akirak1871 Me thinks war would be an appropriate crisis. The Defense Production Act allows the President to take direct control over a large portion of the economy. Instituting a CBDC would be an easy way to move funding around to the different industries under federal control. Then, after the war is over the White House touts the success of the CBDC in keeping production going and it stays.

[@serak3403]

This is why I invest in my garden. The federal reserve cannot delete potatoes.

[@reneewatkins8583]

***** @1:21 @1:40 @2:00 @2:10 ....... @2:42 (CHECK THE DONT TELL ME WHAT TO DO WITH MY MONEY FILE )...… @3:38 @3:44 @3:54 @4:02 @4:10

[@heinricho]

I'm working in the Philippines right now and based on your license plate number there's a certain day of the week you can't drive

[@Xeverous]

Printing money by the government should be the same crime as it is done by ordinary citizens.

[@ThomasMadden-hd1oz]

Someone has to make money. If no one can make it no one can get paid.

[@graysonshaw1621]

Nice video

[@selohcin]

NEXT VIDEO: "Why are Central Banks So Dangerous?" 🔥🔥

[@dennisludolph8381]

Because they make money of interest they are making by precisely doing nothing for it, It is useraryin it most pure state

[@selohcin]

@@dennisludolph8381 Of course that's true. You know it and I know it, but most people don't know it, so Nick needs to do a video on that topic. I don't think he will, though. He doesn't seem like he has enough moral courage.

[@tjman2428]

Nick Freitas for VP.

[@Humbertocr]

Brazil is already implementing DREX, with some lines in the smart contract that can control whatever you can use that currency for.

[@AkiraFelix-k2l]

Every authoritarian's wet dream is to know everything you do with your money. This is coming to America wether we like it or not.

[@followshisway]

Yep, this has to happen for revelation's prophesy to come true (about not being able to buy or sell unless you take a mark). As long as we cash is legal tender, that can't happen.

[@EricHoffert-r1j]

It's inevitable huh? That way of thinking makes it so. I would like to say that maybe that reality that you think is inevitable is not so inevitable after all. Strange things happen in reality. Maybe enough people can get together to stop the people building this platform out on the world. We better hope so anyway. Because I'm not down for your way of thinking

[@prilep5]

CBDC will be used for universal basic income. There will be limits where you can spend it but also with expiration date

[@studlymuffen4life]

Cbdc’s have caused me more sleepless nights than all other societal issues

[@PatrickKQ4HBD]

Did anyone see the KZbinr who was magnet fishing and hauled up a safe full of fairly new $100 bills just this month? $100k worth. THEY WERE DISSOLVING!! Digital money will be controlled. Paper money won't last very long. Precious metals have been confiscated several times within living memory. I try to avoid serious conspiracy theories, but that's what you get when you put all this together.

[@OscarSchneegans]

Let me guess. Every bank account will begin with the same three digits?

[@wualli2494]

Well said.

[@chadparsons50]

Very important video.

[@VanGarrett]

What you're describing is a conceivable implementation. The actual implementations being planned allow the "cash" to be stored directly on your phone or computer, or in a bank, and never in a central reserve. The implementations being planned include every unit of currency as a unique block of data. What you're describing is a system where the currency is simplified into quantities. No one is planning that system.

[@stevenscott2136]

How does that help? Your phone "stores" (remembers) whatever a signal with the right codes tells it to remember. Samsung could cut me off in mid-sentence if they wanted to. And Samsung will want to do whatever the people holding their debt (or lewd photos of Mr. Samsung on that famous island) want it to want.

[@JCRaptorGene]

Are you saying that it is only a CBDC if the physical cash is taken away AND other banks are destroyed? That seems like an odd definition to me. We don't define other digital currencies anything like that.

[@Damons-Old-Soul]

This is why self hosted wallets are so important. They hold the only currency that isn't controlled by a ¢.B. like the Fed.

[@jogeanJPtambot]

Just great.

[@qhdevon43]

16 It also forced all people, great and small, rich and poor, free and slave, to receive a mark on their right hands or on their foreheads, 17 """"so that they could not buy or sell""""" unless they had the mark, which is the name of the beast or the number of its name.

[@jimmytucker8365]

You could potentially be allowed only a certain amount of meat per month with no say in it. Like the WEF has openly stated. Dark times, stay informed.

[@IndependentFreeThinker]

I’ve always said that the Fed and the IRS must be abolished! We must go back to the gold standard and a flat tax. This would eliminate both the Fed and the IRS!

[@mpmckenna8]

we're so cooked in America b/c I think the people who just got in charge also think like this. Oh no, an option as a consumer to buy things not having to pay a 3% transaction fee on every purchase, TYRANNY. By the way they already have this in China and in Brazil they have PIX which are both super popular and don't waste money going to Visa and Mastercard or Block or some other American middlemen

[@paulroyal2177]

Nope. This video is misleading and needs to be re-edited... People often confuse the US Treasury with the Federal Reserve. The US Treasury is a part of the Executive Branch of the federal government. It makes coins at the two US Mint locations, and it prints money at the three Bureau of Engraving and Printing locations. The Federal Reserve is not a part of the federal government, but is a co-op formed of half of the US's banks. The Fed cannot print or destroy money, but it can collect partially damaged money and trade it for new money from the US Treasury. Its chairman (4-year term) and 7-member board of governors (12-year terms) are assigned by the President and approved by Congress, and the Chairman is the only federal government employee in the entire Federal Reserve... The New York branch of the Federal Reserve has the Royal Bank of Scotland as one of its member-banks, and together these banks hold the most of the Federal government's National Debt... When we use the slang phrase "the Fed is printing new money", we are saying that they are lowering rates for private lending, thereby increasing money flow and money availability... I agree that giving the many banks of the Fed their own digital currency would be dystopian, as it would allow for them to impose Chinese Social Credit Scores. But the Fed doesn't have to obey the federal government. Congressmen have threatened to audit the Federal Reserve, but this is mere posturing as the Fed is a primary political sponsor/kingmaker.

[@Donald_the_Potholer]

If the Treasury is part of the Executive, then why are the powers: "1. To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States; "2. To borrow Money on the credit of the United States;" and "5. To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;" part of _Article 1_ Section 8 of the US Constitution, thereby ascribing them to _the Congress_ and not the Executive? In fairness, the Fed's regulation of _private_ lending/investing rates is not barred by the above, though RBS being a member bank of the Fed appears to skirt the second Clause of that Section.

[@darkaxel1991]

@@Donald_the_Potholer Congress has the power to delegate authority to the Dept. of the Treasury for certain things, like coining money.

[@realDonaldMcElvy]

HBAR to the Moon!!!

[@mbabcock111]

Seems to me you've answered your own questions in this video and it's related to the fundamental reasons why your government was structured the way it is. Pass into law the inability for any government organization to gain inordinate powers to arbitrarily take action against the citizen without just cause and warrant.

[@Mr.Janitor]

If you guys didn’t already do a video on it. You make one on the cheese facility ran and used by .gov.

[@hasletjoe5984]

Under the CBDC plan, that new rifle I want to buy would be off the table? I could no longer buy ammo at my discretion? How about this, where would all the illegal drug money come from? And the how would it impact other illegal trades? I can see, as a plumper specimen, I wold be forbidden to buy sweets and soda....Yeah, No!

[@goldguilder9554]

It would need to be protected by crowdstrije

[@ctreid87]

Beard Wednesday!

[@cassiuslives4807]

Why are Russian hypersonic missiles so dangerous to the US Carrier fleets, and why is the US falling behind in developing similar drone and missile technology and deploying it to counter

[@Zeero3846]

I call it government gift cards, but instead of maybe being worth only $10-100, it's all your money. Terms and conditions apply, but participation is not voluntary.

[@alexanderstromer5106]

I like the fearmongering, but .. no one prevents the gas station owner to also accept bitcoin, etc

[@darkaxel1991]

If you can't trade bitcoin for regular currency, it's worthless. That's the danger.

[@1495978707]

I mean, the difference with these currencies is exactly that they're *not* centralized lol. That's the entire reason crypto was invented. If everyone used monero for transactions, it would be even better than cash as far as being good for the people. But the tax man wouldn't like that very much

[@marceloggabe]

Dogecoin began as a joke but gained popularity fast!

[@handimanjay6642]

We are become an episode of Black Mirror.

[@danielsjohnson]

China is already trying to make exactly this with their own national cryptocurrency.

[@elaynestewart8290]

People need to look at Ration Stamps for gas

[@Thwwwplayer]

Answer: july 19th 2024

[@Detr0niX]

Use Bitcoin and stay free guys

[@TheKlamminator]

Make gold great again

[@TheUnofficialMaker]

MARK OF THE BEAST 666 CANNOT BUY OR SELL WITHOUT IT

[@dreamdrgn6803]

why did you say the federal reserve already has the power to deny your transactions for attending a protest and then talked about an example that happened in Canada.............

[@georgew.spradlin8333]

CASH IS KING PEOPLE REMEMBER THAT!!!!

[@akirak1871]

Precious metals are even better. They have some volatility as well, but the government can't really manipulate the value like they can with cash. If you "save" money by holding it in cash, it loses value as it sits there due to the rate at which the Fed prints money these days.

[@antndecks]

Buy Bitcoin

[@foobar1735]

in a word: China.