7 Comments
User's avatar
⭠ Return to thread
Vanda Salvini's avatar

Yes, it probably would bring sanity back as far as inflation goes but I doubt it would stop the surveillance and control. Augustin Carstens (BIS) said as much in this video:

https://www.kitco.com/news/video/show/Market-Analysis/4509/2023-05-17/CBDCs-are-coming-this-is-how-to-prepare---John-Butler#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMarket-Analysis

Go to about 6 minutes to see him speaking, this entire video is worth watching.

Expand full comment
User's avatar
Comment removed
May 24, 2023
Comment removed
Expand full comment
Vanda Salvini's avatar

I don't understand how backing any digital currency with hard assets (gold etc) would prevent or even mitigate surveillance/control. I'm under the impression that China is buying gold and is backing it's currency with gold but they're big into surveillance & control, no? Unless there's a difference between the yuan used for international trade & settlement and what the Chinese people use domestically.

Expand full comment
User's avatar
Comment removed
May 24, 2023
Comment removed
Expand full comment
Vanda Salvini's avatar

OK, now I understand. I absolutely agree...something like bitcoin backed by a hard asset, e.g., gold, would probably be great. Some might argue that bitcoin doesn't need hard asset backing, but that's another discussion.

The problem is however, I don't think that big spying, controlling gov will allow a competitor to their CBDC's. Is bitcoin allowed in China? What about Nigeria where CBDC's have been trialed (not popular)?

I think it's way too easy for gov to regulate crypto including bitcoin so that all the privacy benefits go out the window.

I'm in Canada and our prime minister is too enthralled by China to make me optimistic in the short term.

Expand full comment
User's avatar
Comment removed
May 25, 2023
Comment removed
Expand full comment
Vanda Salvini's avatar

Another video for you from kitco, from the Bitcoin 2023 conference in Miami, interviewing Gareth Soloway. Pay particular attention at about 18+ minutes where Gareth notes that the US is pretty much following China's play book: China banned bitcoin then allowed it once they had their CBDC setup. Gareth notes that the US is probably waiting to set up regulations for bitcoin until after the launch of a CBDC. In other words, all the exits are being blocked.

Not related but along the same lines, I just read an MSM article this morning saying that Canada wants to have doctors & hospitals report adverse events from supplements, all because of adverse events from pharmaceuticals, 2nd link if you're curious.

https://www.kitco.com/news/video/show/Bitcoin-Miami-2023/4517/2023-05-24/Bitcoin-is-revealing-this-movement-in-stocks-BTC-is-a-leading-indicator---Gareth-Soloway#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DBitcoin-Miami-2023

https://nationalpost.com/news/canada/industry-blindsided-by-ottawas-plan-to-track-ill-effects-of-natural-health-products

Expand full comment