Appearing on the Joe Rogan Experience, British broadcaster Maajid Nawaz shed light on the grim reality of central bank digital currencies (CBDC).

As Nawaz pointed to Rogan in Saturdays episode of the popular podcast, part of the reason lawmakers are so drawn to the notion of a CBDC is that this form of money is programmable and controllable.

“What they want to do is bring in this thing called central bank digital currency,” begins Nawaz. “They want to replace fiat money with digital money as a competitor to bitcoin and crypto money. But instead of being a decentralized currency, it will be controlled by the government.”

“This looks terrifying,” says Rogan.

“If you try to buy unhealthy meat, it just won’t work. You tap your card, you can’t buy this thing, but because you’ve reached your hamburger quota – you’re going to have to buy a vegan meal,” Nawaz explained.

The warning may at first sound like a conspiracy theory, but lawmakers have admitted to exploring the possibility. In June of last year, Tom Ariesa director of the Bank of England, spoke openly and clearly on the matter.

“There may be some socially beneficial outcomes of this [programming money], preventing activity that is seen as socially harmful in some way. But at the same time, it can be a restriction on people’s freedoms,” says Mutton.

CBDC issue becoming increasingly relevant

CBDCs present the danger of state powers micromanaging people’s lives down to the food they eat, the places they travel and the activities they can engage in. No wonder China was the first nation to pioneer a CBDC, unveiling the technology at this year’s Winter Olympics in Beijing.

While there may be some skepticism about Western governments leveraging these powers as a population control tool, recent lessons from the Canadian truckers’ protests suggest there is less room for complacency.

See also  Chinese exchange Huobi plans to re-enter the US with a focus on asset management

As Nawaz told Rogan, UK financial leader Rishi Sunak (known as the Chancellor of the Exchequer) has openly championed CBDC technology in the UK and abroad. In a video Nawaz shared with Rogan, Sunak even extolled the virtues of CBDCs at the G7 conference.

The current G7 is France, Germany, Italy, Japan, the United States, the United Kingdom and Canada. Each is currently researching or testing CBDC technology.

nawaz is not the only one commentator to foresee the potential implications of such technology, but thanks to his intervention on Joe Rogan’s podcast, more people than ever are aware of the problem.

A CBDC dystopia can still wait. The biggest line of defense is decentralized cryptocurrency and bitcoin.

Disclaimer

All information contained on our website is published in good faith and for general information purposes only. Any action you take on the information found on our site is strictly at your own risk.

Similar Posts