One thing about politicians and governments is you should never trust what they tell you. Instead you should look at what they are doing. The way I live my life is not to judge someone by what they say but instead by their actions as actions speak louder than words and I have to say its done very well for me in terms of making judgment call in many things in my life.
While the Fed will tell you that the USA has no interest in creating a CBDC that could be the case for real however around the world just about every other country is hammering at the bit to get their own CBDC rolled out by 2030 and in some cases MUCH sooner.
Stable Coins Vs CBDCs
We have seen a huge influx in terms of stable coins on the market. What was once mainly Tether has now expanded as more companies gear up and have launch their own stable coin tokens.
So what's the difference between that and CBDCs? The core difference is a CBDC will be issued by the central bank while a stable coin is issued from a company.
The big thing with CBDCs is they can be fully tracked and also frozen if the government wishes to do so or the bank wishes to do so.
Stable coins on the other hand are a little more decentralized and primarily work off of government debt which is something governments actully want.
CBDCs
Right now we are seeing CBDCs for the most part flatline in terms of new development and countries pushing for them. But they are focusing more heavily into Stable coins as a very real alternative. That's primarily because they are debt and not the real currency of the country. The risks fall mainly on the business and not on the goverment.
A CBDC for sure would be massively targeted with hacks and potential issues with it's coding putting it at major risk.
This shows us why there has been somewhat of a push by some countries and even implementing digital ID's. Digital ID's are one of the most oppressively things a country can do. Rolling out with a CBDC removes total freedom from a person.
In the USA I don't see us having CBDCs any time soon unless it continues to push towards a socialist country. I also don't see us having digital ID's but that would be the first stepping stone and we have seen it come up from time to time.
This is where people need to really question their freedoms and fight back against some things. Something as small as not allowing you to use a app removes your freedoms and rights. The more your tracked (which is already higher than it was post 2001) removes your freedoms. Something many have paid the ultimate sacrifice for. A sense of independence and going out there and getting it. Sadly there's a loud group of people in the USA including illegal immigrants that are starting to sway away from that and want more power in the governments hands to get so call "free handouts" and well if I was in their spot that would most likely be my thinking as well. However, having had those freedoms and the freedom to pursue what I wanted and make something of myself through all of the ups and downs is what makes this a great country and something I hope I never see disappear. We need to get serious about this though and people need to wake up.
There will come a time soon when other countries have CBDCs but I feel it's going to be a long time until the USA might have them and for now we will simply see the rise of stable coins.
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