The Failure of Central Banking: Central Bank Digital Currencies

[claireokc]

Commentary  Currently, central banks across the globe are drafting plans to issue their own digital currencies. Some, like the People’s Bank of China, are already experimenting with such monetary schemes. Many do not realize it, but digital currencies issued by central banks pose the greatest threat to economic and financial freedom we may have ever faced. We delved deeply into the central bank digital currencies, or CBDCs, in the June issue of our Q-Review series. We discovered their danger to our financial freedoms and liberty in general. They truly look like a means of bringing about an economic “Orwellian dystopia.” But let’s first explain what CBDCs are. ...

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