It’s Never Too Late To Begin Protesting Against Proposed Central Bank Digital Currency – OpEd

By MISESBy Connor O’Keeffe*Whether you like it or not, central bank digital currencies (CBDCs) are coming. The setup would bypass the banking system and require Americans to hold digital dollars in an account with the Federal Reserve. The fact that politically connected banks would be abolished with the adoption of retail CBDCs is probably the biggest barrier facing the program. This new nationalized banking system would allow the federal government to add or remove digital dollars from people’s bank accounts and trace where these dollars go. Another argument for retail CBDCs is that they will help the unbanked access the global financial system.