Is the world really ready for one centralized, government-run financial system? Skeptics believe we already have one, and they may not be far off the truth. This week, Steph and Albert dive into the topic of central bank digital currency (CBDC), a unified ledger, and how this would give governments unprecedented insight into where its money is going, and how consumers are spending it.
Of course, with such oversight of spending comes a larger discussion of power, and how more of it will shift to the government. Not only will it be able to more accurately monitor your spending, but it will also have the power to determine how you’re spending your share of the nation’s digital currency. With no apparent checks and balances in place, will your money ever truly be yours? And are decentralized currencies a better, more independent option?
Yes, the term “new money” has taken on a different meaning. And we’d love to hear your thoughts on how these looming changes are impacting you, your families, and your businesses. Drop us a line at email@example.com to weigh in.