In October, Whistleblower and Privacy Advocate Edward Snowden published an editorial on the central bank’s view on digital currencies (CBDCs), claiming that CBDCs were “the newest threat to the public horizon.” Snowden insisted that instead of being invented, the CBDC was “close to the distortion of cryptocurrencies” and “cryptocurrency currencies”.
Snowden insists CBDCs are ‘clearly designed to deny its users original ownership of their money’
Although politicians and the modern banking cartel were all about the central bank’s digital currency, a large number of critics believe they are no different from a centralized database. On Saturday, former Central Intelligence Agency (CIA) and National Security Agency (NSA) sub-contractor Edward Snowden released an article describing what he thinks the CBDC will bring to society. Snowden is a fan of decentralized crypto assets, such as Bitcoin, Ethereum, and zcash. However, when it comes to CBDC, there are concerns about the adoption of whistle blower technology.
“I’ll tell you what CBDC isn’t – it’s not, as Wikipedia might tell you, a digital dollar,” Snowden insisted in his article. “After all, most dollars already digitally don’t exist as something folded in your wallet, but as you enter the bank’s database, you are faithfully requested and rendered under the glass of your phone. A central bank’s digital currency is also not a state-level embrace of cryptocurrency-at least not in the case of cryptocurrency, as everyone in the world currently understands it to be used. Snowden added:
Instead, a CBDC is a distortion of cryptocurrency, or at least something close to the founding principles and protocols of cryptocurrency – a cryptocurrency currency, a rogue twin entering the account the other day, clearly designed to deny its users basic ownership of their money and every transaction. To place
Snowden concludes by explaining that people make a living from their labor and that it may be enough to retire or “if not, can he ever rely on the state’s welfare, or even adequate, provision – his welfare, his care, For his cure? ”Snowden said he wanted to ask members of the Fed, the Treasury and the U.S. government whether money should be centralized by the state. ? ”Snowden asked at the conclusion of his article.
Eddie Hobbs claims ‘the new rules of the game are a parallel loss to your savings’
The future of this corrupt financial system can be seen from a mile away, and another recently published opinion is explained by editorial, financial adviser and author Eddie Hobbs: Hobbes insists that additional global debt growth cannot be helped without curbing benchmark interest rates for a decade or more.
“Central banks know that the only way out is without inflation, when governments expect a repeat of faster growth than a heap of hoping to jack up the world war.” “The ECB wants to run the shotgun. Time and inflation ruin the real value of outstanding debt when they play their part by crushing rates in negative territory.” Hobbes added:
In the new rules of the game, saving is the loss of security. Irish banks are charging up to -0.65% for holding cash. So far, it has sharply reduced the power of credit unions to accept cash and is hurting corporate deposits, trusts and charities, but it will get in your way next year if it goes down from seven-year consumer deposits. You can ignore bank promotions in reverse.
What do you think of CBDCs and Eddie Hobbes’ Edward Snowden’s opinion that savings in the new rules of the game are a security loss? Let us know what you think about this in the comments section below.
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