The middle of the 18th century was a time of great expansion for the British Empire. Some of the most valuable parts of the kingdom were the lands of New England, far to the west of the British Isles. These new lands were carrying out roaring trade with the world, which was of great economic benefit to then-king
Good morning to you, from the UK. I regret the rather dismissive tone you have of CBDC. I don't believe it serves much fearing a technology rather than the people using it and in this case I believe you have rather done that. CBDC have the potential to do good as well, in fact they are being piloted right now in multiple countries as a way to prevent fraud by said governments and corrupt establishments. They can drive financial inclusion positively in developing countries and would allow for more granular monetary policies as well as more structured aid plan for disaster relief and much more. It's been said before but they are technological very different from Bitcoins and other crypto currencies in circulation, and so should they, and that's specifically to protect people from the large risks Bitcoins and such pose. CBDC also offer the ability to settle payment offline, something that current crypto currency models dream of. The question of coin expiration is a real one but I'm afraid you may not be looking at the full picture, beyond fiat management issues which were also posted here before my comment, there are equally technical reasons to do this, namely the avoidance of chain fragmentation and the impact it would have on the ability to process payments quickly, in the way you might be used to. A second reason is that it must also be analogous to paper/polymer money being destroyed and replaced, to update its security or otherwise. Constructed properly they can permit protection of anyone's identity, preventing government and banks alike from power over your money. I don't even mention the different class of CBDC, some wholesale, some retail, multi-CBDC cross border remittance frameworks. I am not going to pretend there is no evil in this world, but I find it rather more constructive to educate people about how better choices can be made around CBDCs rather than build some sort of fear-based framework of dire things to come. I will fully disclose as well that I work for a young startup which won the Global CBDC Challenge by the Monetary Authority of Singapore last November. We specialize in confidential computing and privacy. Our solution very specifically was built to avoid the problems you speak of. It's only fair you may consider looking at all the sides of the story. Happy to chat further should you want to reach out. Very best regards and thank you for another well written newsletter.
Hi Leon, thank you for this story which was really interesting and great to prepare us for any possibilities of this happening. I also really appreciate that you recognized the Canadian truckers as peaceful protesters instead of what a lot of Canadians agree with the negative untruthful narrative. Which has sadly divided many families and friends.
Thats a terrifying view of the future of our society. I think this subject needs too be aired so we may all be aware of this creeping change.
Not a rumor.
Already being discussed the CBDC expiration
Wow Leon! Thank you for this article. We've heard whispers of all of this, thank you for confirming our insights about this matter and providing a timeless analogy to bring clarity to an otherwise muddled issue. You rock!
Thank you for this information. I know I haven't thought about cryptocurrencies as much as I should. This certainly lit a fire under it. And honestly for us to move to greener and independent ways to live off grid.
Wonderful article! Also very disturbing. Thank you. Cheers.
Leon, from what I heard CBDC are "NOT" like bitcoin. They are DE-CENTRALIZED. On par (or better than) metals, be your own bank (PEER to PEER) run by lots on nodes and can't be touched by governments!
What an intelligent, well explained article. I think you are right on the money (pun intended of course) with this. I am glad I found you guys and am very interested in learning more from this community.
Thank you for taking the time to write something so beautifully written and eye opening. It's terryfying but it's good to be educated and see what's coming and be better equipped to handle it rather than being caught off guard. Again, Thank you! ❤️
Glenn Beck’s The Great Reset……