Watch Out!! CBDCs Coming To Your Country Soon!!

While everyone is distracted by the Current thing central banks around the World have been rushing to roll out Their cbdcs they've made a lot of Progress over the last few months and in Some countries it looks like these Distopian digital currencies are about To launch that's why today we're going To explain what cbdcs are give you an Update about CBC developments around the World and reveal which countries are Resisting this terrifying Trend Central Bank digital currencies or Cbdcs are digital currencies created by Central banks at a first glance this Sounds benign after all most currencies Are already digital right well not Exactly if you listen to what central Bankers have been saying about cbdcs You'll quickly realize they're not just Digital currencies you see although most Currencies are already digital you have The freedom to do what you want with Your money for the most part you can buy Whatever you want whenever you want Assuming that you have the money and you Don't have to worry about your savings Being Frozen that is of course unless You're protesting against the Canadian Government but that's the topic for Another time now the relative Freedom That you have with digital currencies Today is ultimately a consequence of the Fact that if your bank was to block your

Transactions or freeze your savings you Would probably go and find another bank In other words you have the ability to Choose you have the freedom to opt out With a cbdc however it will not be Possible to opt out that's because with A cbdc all your money will be stored Directly at the central bank and well There's only one Central Bank this Centralization makes it possible for Central banks and the government to Control all of the transactions in the Economy put it simply in a cbdc system What you can do with your money will Fundamentally be determined by the Central bank and the government if this Sounds terrifying that's because it is It would mean the end to Financial Freedom that is actual Financial Freedom The ability to decide what to do with Your money don't believe me well Consider this the now Infamous quote From Augustin cartis the general manager Of the bank for international Settlements or bis the so-called bank For central banks he States a key Difference with the cbdc is that the Central bank will have absolute control On the rules and regulations that will Determine the use of the expression of Central Bank liability and also we will Have the technology to enforce that Translation we control your transactions Not you and if you think that you can

Opt out by using cash or gold think Again again if you watch our first video About the EU digital Euro you'll recall That the ECB explicitly stated that the Digital Euro would replace cash and even Implied that the digital Euro would have The potential to replace stores of value Like gold and it's not just the ECB Either according to the bis over 90% of Central banks are in the process of Rolling out cbdcs and some have rolled Them out already This is despite the fact that the bis Own research found that the voluntary Adoption of cbdcs by citizens is only Between 4 and 12% as we've seen with the Roll out of some cbdcs however the Actual adoption rate seems to be even Lower if you watched our video about Nigeria you'll know that only 0.5% of The population adopted its enira cbdc After one year the government went as Far as to trying to restrict cash use to Increase its adoption and guess what it Worked by the way if you're enjoying the Video so far be sure to smash that like Button to help others find it now this Brings me to the cbdc updates that we've Seen over the last few months because This is such an important topic we've Taken the effort to look at cbdc updates In most of the major countries and Regions note that you can find your Country or region using the timestamps

In the Description let's start with North America namely the United States in April North Carolina passed a law Banning the use of cbdcs in the state One month later Florida followed suit What's interesting is that these laws Seem to have been inspired by the Backlash against fed's fed now payment System if you watched our video about Fed now you'll know that it's a pre Precursor to a cbdc system in plain English it puts the technology in place For a cbdc rollout specifically settling Regular payments directly at the Central Bank fed officials also admitted in a Presentation that fed now will evolve Into a cbdc for context fed now was Launched in July and the push back Against it and a cbdc continued for some Months it even got to the point that Popular podcasters like Joe Rogan were Discussing cbdcs with their guests Spoiler alert they are not fans of cbdcs Nobody who loves freedom is and that's Everyone that being said it does appear That Democrat politicians in the United States are in favor of a Cbdc this is something that we've Noticed in our analysis of crypto Hearings Democrats have argued that the US needs a cbdc if it wants to stay Competitive with countries like China Which are rolling out their own cbcs

Republicans on the other hand have Warned about the centralized control Aspect of a cbdcs and many republican Politicians have tried passing anti- CBC Legislations at a federal level as you Might have guessed Republicans hold a Majority in the two states that have Banned Cbdcs what's fascinating is that even Some members of the FED have been Skeptical of cbdcs that's because they Don't seem to be required and research By the Central Bank themselves suggests That cbdcs could pose significant Financial stability risks never mind the Centralized control aspects if you're Wondering when the us could see a cbdc The answer seems to be not anytime soon According to a recent report by the Bank Of America a digital doll may not come For around another 3 to 5 years now this Is an estimate to remember given that Mega Banks like Bank of America Technically own the FED now south of the Rio Grande there have been lots of cbdc Updates out of Latin America namely in Brazil and Argentina in May visa and Microsoft participated in Brazil's cbdc Pilot this is scary considering that in July a developer discovered that Brazil's cbdc contains code to freeze Transactions and delete funds this was Discovered because some of the code for Brazil's cbdc was posted on GitHub by

The Central Bank the developer in Question claims to have reverse Engineered the cbdc using this code this Sounds unlikely Until you realize the Cbdc is based on ethereum and the Developer was a crypto to developer note That Brazil's cbdc is using a private And permission copy of ethereum not Ethereum itself anyways the most recent Update from Brazil was that the central Bank had revealed its name and its logo For the cbdc and it was called DX where The d stands for distributed Ledger Technology the r stands for real the Brazil's national currency the E stands For electronic and the X stands for Connection '90s movie references aside there have Been even scarier cbdc updates out of Argentina just last month then Presidential candidate Sergio masso said That he wants to use cbdcs to solve the Country's inflation problem for Reference Argentina's inflation rate is Currently at a whopping 142% conversely Javier Malay the newly Elected president has promised to Abolish Argent Central Bank and replace The national currency with the US dollar Malay is seen as being pro crypto which Is a little bit odd given that Dollarization would likely reduce Argentina's crypto adoption everyone There is using crypto in any case it

Seems that Argentina's Central Bank is Planning on pushing ahead with its cbdc Regardless of who's in power one Central Bank official already said that they Plan to use cbdcs to combat tax evasion Argentina's Central Bank should be Introducing its cbdc bill in the coming Weeks note that we'll leave a link to a Few tools so you can use to keep track Of CBC developments in your country in The Description we interrupt this program For an emergency crypto weather forecast Get ready for a whirlwind savings we're Seeing some high pressure sign up bonus Systems forming in the Northeast with Some exchanges offering up to 40 ,000 in The South we'll be seeing some heavy Discounts on Hardware wallets so watch Out for those if you're going to be out And about and then in central areas There's a high chance of tradeing Fe Discounts which should be settled in Later on so be on the lookout for up to 60% off there Lush for the more Comprehensive forecast just visit Coin.com deals or use the link down in The description these deals are red hot So make sure to take all the necessary Precautions well that's all for today's Forecast now back to the scheduled Program anyway the next stop on our cbdc World tour is Europe including Russia Which is technically part of Europe

According to the UN the more you know Now as most of you will know most European countries use a shared currency Called the Euro and there have been lots Of digital Euro updates in April ECB President Christine lagard admitted on Camera that the digital Euro would be Used for control if if you've been Keeping up with our digital Euro updates You'll know that Christine and the ECB Are concerned about a foreign currency Replacing the euro in Europe including The US dollar from what we've seen it Looks like the Chinese yuan is the Currency that the ECB should really be Concerned about that's because some Large French banks have reportedly Started offering their corporate clients Accounts in digital Yuan specifically BMP perius I know we couldn't believe The headline either it's even less Believable when you consider the fact That France has been pushing the hardest For a digital Euro Spain has also been Pushing hard for a digital Euro Slovakia However has been pushing back it passed The law adding cash use to its National Constitution back in June similar laws Are now being floated in the Czech Republic and Austria the former of which Uses its own National currency As a fun fact one of the conditions for Joining the EU is to adopt the Euro but There's no timeline for when this needs

To be done it's safe to say some Countries are taking their sweet time Other EU countries like Hungary are Taking their sweet time developing their Own cbdcs too back in May the Hungarian Central Bank said there was no imminent Need for a CBC however it sounds like Hungary will Be getting one anyway as the digital Euro will apparently need to be accepted Everywhere if you watched our most Recent digital Euro update you'll know That it could be rolled out as soon as 2025 between now and then we're likely To see the rollouts of the E digital ID Wallet which will likely be required for A successful CBC roll out note that this Will be the case in every country Meanwhile in the UK the bank of England Completed a cbdc study with the bis the Aformentioned bank for central banks in June later that same month the bank of England revealed that it had continued To make progress of cbtc research and Development and it's focused on Privacy now funnily enough the bank of England's public consultation of the Digital pound AKA britcoin received over 50,000 comments The majority of which were about privacy Concerns for those that are unfamiliar Cbdcs will not have any privacy central Banks will be able to see all of your Transactions and balances based on the

Information that we could find the bank Of England will continue to work on Britcoin until 2025 or 2026 at which point a decision will be Made whether or not to issue it Presumably by UK politicians If approved britcoin will launch Sometime in the second half of the Decade soel Brits take Notice now Russia's cbtc developments Can be described in one word rushed in July its cbdc bill was passed by August The central bank had revealed a fee Schedule the logo and all those bells And whistles cbdc trials started in August and it looks like the digital Rubble will be live sometime between 2025 and 2027 Russia's rushed cbdc developments Is not so surprising given the Unprecedented sanctions the country has Been facing this has put extreme Pressure on the ruble and has forced the Central bank to engage in strict Capital Controls obviously Capital controls will Be a lot easier to impose with a cbdc Another country that's known for Capital Controls is China and it's one of the Many countries in Asia that have seen Significant cbtc updates over the last Few months China has been testing its Digital Juan domestically for over 3 Years and it recently completed its First crossb trade using its

Cbdc this crossb trade involved a Purchase of 1 million barrels of oil It's apparently not clear who the Counterparty was at first glance you Would think it was Russia upon closer Inspection however you'll notice that The French companies have recently been Testing regular payments with China Probably nothing now another Asian Country that's been actively testing its Cbdc is India digital rupee trials have Been taking place for almost a year now And what's fascinating is that the Recent trials have focused on offline Payments this is fascinating given that China and others are also focusing on Offline payments India is also Reportedly starting to focus on crossb Cbdc payments just like China at the Same time India's Central Bank has been Scrutinizing the crypto industry calling Stable coins a threat to financial Stability news flash but China has been Doing the same this is why it's strange That Hong Kong has been so Pro crypto For those that familiar the Administrative state is for all intents And purposes a part of China Hong Kong Has been testing its cbdc technology With ripple but is reportedly not that Interested in issuing a cbdc quite yet Speaking of cbdc Pilots Thailand started Its trial back in June South Korea has Started its cbdc pilot just last month

And Kazakhstan started its one just a Few days ago it seems they're on track To go Fully live by 2030 come to think Of it this seems to be the case for most Countries and this makes sense given That this is when the UN sustainable Development goals are due more about That in the Description now an often forgotten Region near Asia is oceanana but in the Case of cbdcs it's hard not to miss That's because Australia seems to be on The Cutting Edge of controlling its Population to that end it's been rushing To roll out cbc's it hasn't started any Trials but it's already thinking about Tokenization if you watched our video About the financial system that central Banks want to see you'll know that they All involv tokenizing every asset you Own on a blockchain controlled by the Central banks what this means is that You would technically own nothing and The central bank would Own It All sound Familiar any who out here in the Middle East we've only seen a few cbdc Developments over the last couple of Months in March the UA signed a deal for Its cbtc strategy which it revealed back In February the first phase of the UA CBC trials are expected to be complete By mid 2024 and in April Israel Central Bank Revealed the conditions under which it

Would issue a digital shekele what's Spooky is that one of the conditions was Wide spread stablecoin adoption this Echoes what the central banks of Indonesia said two years ago cbdcs are a Tool to combat Bitcoin and Cryptocurrencies next door in Africa Meanwhile there have been many CBC Developments over the last few months Mostly from Nigeria as I mentioned Earlier the Central Bank there tried to Restrict cash use to force the adoption Of the enira in March and reportedly it Worked Since that time it's been trying to Improve its enira for instance in May The Nigerian Central Bank added NFC Payment functionality making it possible To pay an enira at regular payment tals As another fun fact the reason why Governments are so obsessed with QR Codes is because they're more compatible With cbdc payments and fast payment Systems now while Nigeria has been Trying to Strongarm its citizens into Adopting its cbdc Kenya has apparently Scrapped its plans to issue a cbdc Anytime soon this was revealed back in June Kenya Central Bank noted that Existing Technologies could address its Payment issues just as effectively note That this is true everywhere and it just Underscores the fact that cbdcs are only About control Zimbabwe CBC however is on

Another level back in April it Central Bank announced that it would be issuing A gold backed token that could be used For payments this wasn't taken too Seriously at the time probably because There have been countless reports of Gold back currencies lately believe it Or not but the bank of Zimbabwe Delivered last month it officially Launched the token dubbed Zimbabwe gold Each token is backed by gold reserves Held at Zimbabwe central bank now don't Get too excited though they can't be Redeemed for gold only for US Dollars no Surprises there this brings me to the Big question and that's which currencies Are not issuing or outright resisting Cbdcs besides the ones that have already Been mentioned like certain US states Hungary and Kenya Finland Denmark Haiti Eador and the Philippines have opted not To move forward with cbc's at this time The bigger question is which countries Will Embrace cbc's as we've seen with Countries like Nigeria rolling out a CBC Doesn't guarantee its adoption and even When you force its adoption you can't Force regular people to actively use it Look no further than China's digital Yuan for evidence of that as it so Happens a global survey about people's Attitudes towards cbdcs was conducted Back in June the results can be seen Here americ Americans Canadians Brits

And Europeans are the least Keen to Adopt Cbc's probably because they're informed Enough to know what they're really going To be used for notably there is a large Divergence between developed and Developing markets only 30% of people in Developed markets support the launch of A cbdc whereas more than 60% of people In developing markets support the launch Of a CBC this could again be consequence of Being informed the more alarming Divergence is the ones between what Citizens want and what their governments W recall that Spain has been one of the European countries pushing the hardest For a CBC well a recent survey found That 65% of Spaniards do not want a Digital Euro the same is true in Russia Where the central bank and the Government are rushing to roll out a CBC While an August survey found that only 177% of Russians said they would be Comfortable keeping more than $200 in digital rubles lo and behold the Number one reason was because they don't Understand it indeed it's going to be Really hard for central banks and Governments to explain why their Citizens need to start using a Cbdc that's why it's likely they'll use A crisis to roll out its adoption this Is something that's been alluded to in

Many cbdc reports and was almost tried During the Pandemic but you remember there's one Critical piece of infrastructure that's Missing digital IDs our research Suggests that these will need to be Rolled out before cbc's and this makes Sense given that central banks and Governments need to keep track of who They're sending stimulus money to and Such central banks and governments also Need to make sure that cbdcs are Sufficiently battle tested cyber attacks Have been a number one concern for these Institutions and there is no question That a technical issue of any kind would Instantly kill any confidence in Cbc's in Practical terms this means that It's probably going to be a while before We see widespread CBC adoption in the Interim alternative systems like Cryptocurrencies will continue to be Developed and the average person will Become more aware of the differences Between these two digital currency Systems if you still don't understand These differences be sure to check out The link in the Description well that's all for today's Video folks if you found it informative Be sure to smash that like button and Let us know if you want to stay informed Subscribe to the channel and ping that Notification Bell if you want to help

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