When it comes to central bank digital currencies (CBDCs), we’ve stressed how governments want to eliminate competing alternatives, pushing people towards CBDCs. The risks of CBDCs are clear – government surveillance, AI profiling, account freezes, and wealth confiscation.
Two main alternatives are cash and cryptocurrencies, but governments are actively trying to eliminate them to promote CBDCs. Cash is dwindling in acceptance, and cryptocurrencies face intense scrutiny.
The Bank for International Settlements (BIS), known as the “central bankers’ central bank,” is testing software called “Atlas” to track every bitcoin transaction globally. They say it’s for risk management, but the real risk, from their perspective, is cryptocurrencies as alternatives to CBDCs. This could enable them to shut down the bitcoin market when they deem it necessary.
In this evolving landscape, one of the oldest forms of money, gold and silver coins, might make a comeback as a reliable option in our increasingly digital world.