LOUISIANA: Digital currency, real life totalitarianism – no CBDC!
We are at the mercy of banks with a Central Bank Digital Currency
Our Stand: At-A-GlanceWhen funds donated to Canadian truckers were stolen by the Canadian government, we were provided a glimpse of the frightening totalitarianism possible when banks and governments control our currency. Central Bank Digital Currency (CBDC) makes similar acts of totalitarianism possible when standard currency is replaced with digital currency at the control of central banks.
- Central Bank Digital Currency (CBDC) is not the same as legal tender or monetary assets which are controlled by individuals and not a centralized banking system or government entity.
- CBDC is not appropriate for standard deposit accounts because it can be altered or revoked by the issuing authority, unlike standard currency.
- CBDC introduces unique risks to individuals and account holders and is not interchangeable with standard currency, nor should it be blended interchangeably with standard currency in existing standard bank accounts.
- Health: “You didn’t take your booster… sorry, you’re not allowed in public spaces.”
- Energy: “You used your energy allotment this month… sorry, your electric car won’t start.”
- Food: “You ate too much meat this week… sorry, your money is only good for plants (or bugs).”
- Savings: “If you don’t take your rations soon… sorry, your money will expire at the end of the month.”
- Free Speech: “You shared info that we disagree with… sorry, our algorithm is fining you.” (PayPal has already started doing this)