Joe Rogan’s guest, Maajid Nawaz, said that CBDCs are a powerful tool for the state to control its citizens.
British publisher Maajid Nawaz appeared on the Joe Rogan Experience and shed light on the reality of what central bank digital currencies (CBDC) could lead to in the future. As Nawaz points out in the podcast, one reason legislators are so keen on the concept of CBDC is that this form of money is programmable and controllable. Nawaz said:
“What they want to do is bring this thing called central banking digital currency. They want to replace fiat paper money with digital money as a competitor to Bitcoin and crypto money. But instead of being a decentralized currency, it will be controlled by the government.”
The warning may sound like a conspiracy theory at first, but legislators admitted they were investigating the possibility. In June of last year, Bank of England director Tom Mutton spoke bluntly on the subject:
“This [money programming] can have some socially beneficial consequences, activities that are seen to be somehow socially harmful. can prevent. But it can also be a restriction on people’s freedoms.”
CBDCs can bring the danger of governments micromanaging people’s lives from the food they eat to the places they travel to and the activities they are allowed to participate in.
As Nawaz said on the podcast, UK finance leader Rishi Sunak has openly advocated CBDC technology both in the UK and overseas. In a video Nawaz shared with Rogan, Sunak even praised the virtues of CBDCs at the G7 conference.
Nawaz isn’t the only commentator to describe the possible ramifications of such technology, but more people than ever are aware of the problem as Joe Rogan explains on his podcast.
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