Trump’s Fiery Speech in Nashville: CBDCs are a Threat to Liberty
President Donald Trump has been quite vocal about central bank digital currencies (CBDCs) lately, and today was no exception. In his speech at the Bitcoin 2024 conference in Nashville, he made his stance crystal clear. He said, “There will never be a CBDC while I am president.”
This statement echoes his previous comments on the matter, where he has consistently expressed strong opposition to the idea of a CBDC. He believes that such a currency would give the government too much control over people’s money and could potentially lead to financial tyranny.
Related: CBDC Catastrophe: Tech Failures Expose a Fragile, Dystopian Future
Trump’s views on CBDCs seem to be part of a broader narrative that he’s building around protecting individual freedoms and liberties. It’s a message that resonates with many in the cryptocurrency community, who see digital currencies as a way to decentralize power and reduce government control.
Trump has previously called CBDCs a “dangerous threat to freedom.”
Trump’s firm stance underscores the escalating discussions surrounding CBDCs, a significant matter among global governmental bodies. To date, only a few countries have officially adopted such currencies. However, the digital currency landscape continues to evolve, with China advancing the implementation of its digital yuan, India progressing towards a digital rupee, and the European Central Bank initiating a preparatory phase for a potential digital euro.
CBDCs represent a significant evolution in the architecture of money. These digital forms of fiat currency, issued and regulated by a country’s central bank, promise enhanced efficiency in transactions and greater financial inclusion. However, they also pose potential risks to civil liberties that merit careful consideration. Here are some of the primary concerns:
1. Privacy
CBDCs could fundamentally alter the landscape of financial privacy. Traditional cash transactions allow for anonymity. With CBDCs, even small transactions might be traceable and recordable by the central bank. This could lead to a scenario where governments have access to detailed records of every individual’s financial life, raising significant privacy concerns unless robust safeguards are implemented.
2. Surveillance
The transition to a fully digital currency could potentially give governments unprecedented capabilities to monitor and surveil citizen behaviors. In regimes with weaker protections for civil liberties, this could be exploited to track political dissent or suppress opposition. The potential for surveillance not only impacts privacy but also freedom of expression and association.
3. Financial Censorship
With the centralization of currency issuance and transaction management, a CBDC could make it easier for governments to implement financial sanctions against individuals or groups without due process. Accounts could be frozen or transactions blocked more efficiently, which could be used as a tool for political repression or social control.
4. Exclusion
Despite the potential for greater financial inclusion, the reliance on digital infrastructure might marginalize those without access to technology or reliable internet, such as rural populations or the economically disadvantaged. This could exacerbate existing inequalities and restrict access to essential services for those on the fringes of the digital economy.
5. Cybersecurity Risks
The concentration of financial data in a central digital system increases the risk of systemic failures due to cyberattacks. A successful attack could compromise the integrity of a nation’s entire financial system. Moreover, the implications of such attacks extend beyond economic damage to potentially crippling impacts on individual financial security and privacy.
6. Centralization of Power
CBDCs concentrate monetary control significantly. This centralization of financial power could reduce the checks and balances provided by a more distributed banking system, increasing the potential for abuse by those in power, particularly in undemocratic regimes.
7. Legal and Ethical Implications
The implementation of CBDCs raises several legal and ethical questions, including the scope of government intervention in personal finances, the rights of individuals under a digital currency system, and the balance between national security and personal freedoms.
CIA Denies Using MKULTRA on Trump Shooter: “It’s a Baseless Conspiracy Theory”
The CIA has issued a statement denying that the agency used mind control programming on the 20-year-old shooter who attempted to assassinate Donald Trump earlier this month. In a bizarre public statement, the CIA insisted […]
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Sen. Warren Admits Kamala Harris Will Grant Millions of Illegals ‘Instant Citizenship’ so They Can Vote for Dems
Senator Elizabeth Warren has admitted that Kamala Harris is planning to clear the pathway for millions of illegal aliens to gain ‘instant citizenship’ in the United States so that they can vote for Democrats in […]
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Olympic Official Admits ‘We Are Protecting a Pedophile Ring at Paris Olympics’
Officials working for the Dutch Olympic team have admitted that they are covering-up evidence of a pedophile ring operating at the Paris Olympics. According to officials, Steven van de Velde, a known pedophile and beach […]
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WEF Memo Reveals Plan to Depopulate the World of 1 Billion White People By 2030
The World Economic Forum in Davos has ordered global authorities to radically reduce the number of white people in the world by 2030. If you thought the Great Replacement was nothing more than a conspiracy […]
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“Election Interference?” Musk Weighs in on Google Search Ban on Trump
Twitter owner Elon Musk weighed in on the apparent Google search ban on terms related to Donald Trump, suggesting the tech giant was engaged in “election interference.”
“Wow, Google has a search ban on President Donald Trump! Election interference?” Musk Tweeted, with an accompanying picture that showed the search engine completing the phrase “President Donald…” with “president Donald duck” and “president donald regan.”
Wow, Google has a search ban on President Donald Trump!
— Elon Musk (@elonmusk) July 29, 2024
Election interference? pic.twitter.com/dJzgVAAFZA
On Sunday, users reported that searches for “assassination attempt on tr” were completed by Google’s search engine with “assassination attempt on Truman” and other searches totally unrelated to the recent attempt to kill Donald Trump.
Typing the entire phrase “assassination attempt trump” yielded no autofilled results in the search bar.
Donald Trump Jr. commented, Tweeting, “Big Tech is trying to interfere in the election AGAIN to help Kamala Harris. We all know this is intentional election interference from Google. Truly despicable.”
The Google search ban appears to be the latest move in a broader strategy to minimise the assassination attempt against Donald Trump and prevent him from using it to his political advantage. This has involved the FBI, whose director Christopher Wray told Congress it was unclear whether Trump had actually been hit by a bullet, and the mainstream media, which has amplified such claims and also done its best to prevent the circulation of the iconic “first pump” photo of Trump standing bloodstained and defiant beneath the Stars and Stripes.