CENTRAL BANK DIGITAL CURRENCIES & PERSONAL LIBERTIES

Central bank digital currencies pose real danger to personal liberties... that allows governments to monitor every transaction you make, which basically means a surveillance state. This facilitates the creation of a social credit system that allows governments to punish those who engage in unapproved activity. The government will even know your physical whereabouts at the point of purchase. People could be denied employment opportunities, educational opportunities, and access to banking systems, even the ability to travel. China is well along the way to establishing a social credit system. Millions of Chinese have been denied the ability to travel by plane or train because their social credit scores are too low. James Rickards says that it could happen anywhere.

- James Rickards

I've warned repeatedly about the dangers that central bank digital currencies (CBDCs) pose to personal liberties. I've warned how they would allow governments to monitor every transaction you make, which basically means a surveillance state. This facilitates the creation of a social credit system that allows governments to punish those who engage in unapproved activity such as buying guns, donating money to the wrong political party, buying unapproved literature, etc. The government will even know your physical whereabouts at the point of purchase.

People could be denied employment opportunities, educational opportunities, and access to banking systems, even the ability to travel. I've also said that China is well along the way to establishing a social credit system. Well, if you have any doubt that China's social credit score is real, consider this: Millions of Chinese have been denied the ability to travel by plane or train because their social credit scores are too low.

It CAN Happen Anywhere

If you think nothing like that could ever happen here, you might want to reconsider.

Think of all the draconian policies that were imposed on Americans during COVID. Think of the lockdowns, the censorship, vaccine mandates, etc. Before the pandemic, you probably wouldn't have thought that any of this was possible. But it all happened. When you think of it in that light, you begin to understand that some type of social credit system in the U.S. really isn't that far-fetched. It might not be as extreme as China's system. It'll all be made to sound very benign, even necessary, to support "our democracy" against MAGA types, white supremacists, climate deniers and domestic terrorists.