Why I will fight CBDCs all the way

Written by Jasmine Birtles at MoneyMagpie.com

I told the person serving tea on the train buffet yesterday about CBDCs (central bank digital currencies) and how I’m trying to use cash more and more to help stave them off. She agreed with me that it’s wrong not to take cash (she wasn’t allowed to take cash at her buffet counter) and three people in the queue behind me also agreed. “I’m using cash a lot now because I don’t want them to push us onto a digital-only future,” said one lady. “They’ll control everything we spend if we let them.” And that’s my point. That, to me, is the fundamental misery and danger of central bank digital currencies: they potentially enable a few in power to have total control over the earning, spending and tax-paying of the increasingly powerless many. That’s basically the underpinning of an entirely autocratic government.

The decline in the use of cash in the UK

Source: UK Finance

Central banks and governments around the world love the idea of course. That’s why there are so many high-level meetings going …