President of the Federal Reserve Bank of Minneapolis, Neel Kashkari: CBDCs don't solve any actual problems, other than enabling central bankers to monitor all transactions, and deduct taxes directly from people's accounts. "I keep asking anybody, at the Fed or outside of the Fed, to explain to me what problem this is solving... I can see why China would do it. If they want to monitor every one of your transactions, you could do that with a central bank digital currency. If you want to directly tax customer accounts, you could do that with a central bank digital currency. So I get why China would be interested. Why would the American people be for that?" Source: youtube.com/watch?v=RotcD7… For more content like this, visit: wide-awake-media.com #CBDCs #CBDC
I have another question about CBDC digital currency. How would the Uber rich and politicians coordinate their corruption pay offs to avoid detection? Like dark money funding and laundering foreign money through NGOs to avoid campaign finance violations. Will there be a double standard or a split system with different parameters?
@wideawake_media @Veronica31378 That's Minnesota right?: 49 States voted to reelect Ronald Reagan. Guess which one didn't.
@wideawake_media This man will not be in this job long. He makes WAY too much sense!
@wideawake_media @woproschalek That depends on the cryptographic implementation ie whether it is a centralized crypto ledger based on eg a blockchain or a federated offline capable system. Like bitcoin, a technology in search of a problem.
@wideawake_media The American people are not interested in that.