The Move To A Cash-Free, All-Digital World Never Sleeps

Our readers are better informed on the subject of Central Bank Digital Currencies (CBDCs) than any other audience. We’ve written about them extensively, explaining how the push for CBDCs goes hand in hand with the elimination of cash.

The idea is to make all financial transactions 100% digital. Along with that comes the fact that the digital ledger will be maintained by the U.S. government instead of private parties such as Visa and MasterCard.

This means the government can see your transactions without getting a warrant or a subpoena, which they would need to get information from the banks and credit card companies. With information about everything from your book purchases to your charitable, political, and religious contributions, the government can use artificial intelligence (AI) to build a profile of you to determine if you are an enemy of the people, as described by Joe Biden.

Privacy will be gone and a pre-dawn, no-knock raid from the FBI goon squads will be just a step away. That said, the digital takeover of the financial system is not an all or nothing event, and it will happen in stages and not all at once.

When the CBDCs are finally rolled-out, it may be a bit of an anti-climax if private companies have already eliminated cash and invaded privacy on their own. This article gives an excellent example of this trend.

The Italian bank Intesa SanPaolo has begun forcing customers to use an all-digital mobile phone service with no ability of customers to visit a branch or interact with a human bank official. This is exactly what the world of CBDCs will be like except that a private bank is doing the dirty work and not waiting for a government mandate.

The CBDC effort in Europe will inevitably involve the European Central Bank (ECB) since they are the issuer of the Euro and will be in charge of the digital ledger of transactions. Still, the article makes clear that private banks are not waiting for the ECB and are laying the groundwork today for a world without cash or human bankers. All this is left is a digital ledger and total surveillance of everything you do.

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