Quote from: Outhue on Today at 06:23:46 AM

I doubt it's going to work out like he hope, what possible threat could CBDC have when its completes Fiat in digital form? That's why this plan of his won't work out, the man is in fear that politicians will be able to move money without anyone knowing, but that's near impossible because CBDC is not a privacy stable coin, it is fully centralized and that's the main reason why many crypto fans don't want to have anything to do with the digital currency, it equals to the law and government spying on you, knowing what you are up to with your money.

His reasoning is clear -- it increases surveillance capabilities by the U.S. government. I'd add that it also gives even more centralized authority for the U.S. government to control monetary policy. Even though most banking is digital, USD is still a physical system. The U.S. government still recognizes physical cash as legal tender.

Should they move away from such a system and implement digitalized tokens as an alternative -- you can say goodbye to any sense of financial independence as a USD holder. Every token you have will be controllable by the U.S. federal government. It's a lousy system.

Most of the CBDC ban talks are political grandstanding, anyways. But it's still nice to see where a politician stands on these sorts of issues. Should DeSantis become President, it gives us a hint of where he'd take the federal reserve.