For example, with a CBDC, a government could issue a stimulus payment that had to be used in a certain amount of time or could only be used on certain items to reduce the chances of inflation.
The flip side is that governments could use a CBDC to track all economic activity and even control it. For instance, if a government wanted to effectively ban tobacco products without legislation, it could simply exclude them from being purchased with CBDC.
This may sound like a conspiratorial sci-fi fever dream, but it is very real, and high-level individuals at Bank of America, the International Monetary Fund, and the World Economic Forum have publicly gushed about the control CBDCs would give them. It wouldn’t be unfair to liken a CBDC to a “One Ring” of a nation’s economy.
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