Instead of separating money and state, the CBDC acts to create zero separation between money and state.
The U.K. government and the Central Bank of England have published a “consultation paper” that announced a coming digital pound called “Britcoin.”
“At this stage, we judge it likely that the digital pound will be needed in the future. It is too early to decide whether to introduce the digital pound, but we are convinced preparatory work is justified,” the paper starts, estimating that the project will be fully implemented by the end of the decade.
The hype continues:
“The digital pound would maintain public access to retail central bank money and, as our lifestyles and the economy become ever more digital, it would also promote innovation, choice and efficiency in domestic payments.”
Here’s what they’re not telling you.
A CBDC gives enormous power to governments and grants them much more control over the population’s spending, saving, investing, and borrowing power. For Brits who experienced the tyrannical and restrictive policies of Covid hysteria, the implementation of Britcoin amounts to a permanent financial lockdown.
As the Chinese Communist Party has demonstrated, the CBDC is a valuable tool for financial censorship and manipulating behavior, as it is a key component of a social credit score system.
Under a CBDC-based monetary regime, the government or anyone high enough in the political hierarchy can ban a citizen from transacting in the currency at the push of a button, should their social credit score drop too low. Moreover, any random government bureaucrat who has access to the CBDC system could decide to wipe out anyone’s account balance entirely. On the other hand, they can reward “good behavior” by boosting a citizen’s social credit score and purchasing power…