CBDCs | CBDCs Digital Currency | Is the Fed Moves Towards Monetary Totalitarianism?
Digital currencies are being used by governments to monitor transactions and police individuals. Centralized banks controlling digital currencies are not technically elected officials, but unelected officials within the financial sector. The Federal Reserve is sowing the seeds for its central bank digital currency (CBDC) against CBDC. CBDCs are mainly about more government control over individuals, giving the government the power to determine how much a person can spend, establish expiration dates for deposits, and even penalize people who saved money. This is a form of centralized and totalitarian crony capitalism, where the entire economy or the entire capitalist structure, the means of production, is seized. The banking system, union system, and nonprofit entities like the ACLU have created a cartel, which is setting policies on money and businesses. The cartel can enforce ESG standards, environmental social governance standards on businesses, and the next step is enforcing it on individuals.
