In between talks, I’ve been dealing with thoughts about the Central Bank Digital Currency (CBDC), which has been an ongoing issue of concern on several of the shows I consume.
My initial thought was that regardless of the type of currency you’re issued, it doesn’t matter. You can exchange it for whatever good, currency, or service you want.
But there’s also the issue where they can dictate what you can spend the digital currency on, and take it back retroactively.
If there’s a stipulation that you can only spend the currency at certain places, might that contradict the idea that Federal Reserve Notes are good for all debts public or private. (If you have one nearby, look; it says that right on the bill)
Further, if previously-issued funds can be taken back, were you paid? Would that violate various employment laws? So, you’re making $42/hr., but you went to the capitol on January 6, 2021. Can money be taken from you because you were there? What if the retroactive taking bumps your compensation down to less than the agreed-upon $42/hr.?
Are labor unions okay with this: What if there was a stipulation that you could only spend those coins on things your employer or the state approves of: I mean, you might want to hit every single New York Jets road game in the upcoming season. I don’t know why you’d want to do that, but you should be able to. How about tithing a certain percentage to your church?
Still working through it all…..
I will finish up my Shmoocon write-ups after I get home.