CENTRAL BANK DIGITAL CURRENCIES

It’s been no secret that governments and central banks declared war on cash years ago. The
official reasons were it would prohibit money laundering, help thwart terrorist funding, and make it
harder for people and companies to avoid taxes.

The war on cash has now gone to the next stage whereby governments are preparing central bank
digital currencies. China is at the front of the pack, and setting the pace.

So what are the implications and dangers?

Consider that CBDCs would be able to accumulate
sensitive payment and user data at an unprecedented scale. In the wrong hands, this data could
be used to spy on citizens’ private transactions, obtain security-sensitive details about individuals
and organizations, and even steal money.

In addition, there is the possibility that the CBDC electronic “money” could have an expiry date
which would force you to spend the money before expiration.

In essence,control of your money would be handed over to the government, whose control over
individuals would be enormous.

What steps can you take to mitigate these risks?

Apart from attempting passive resistance to the
the concept, you do need to consider holding assets and forms of money that can not be tracked.
Physical gold and silver, perhaps some cryptos.

We will continue to update you on progress of government adoption as they do represent a
massive erosion of personal privacy and freedom.