Edward Snowden Calls CBDCs “Cryptofascist Currency” – “Closer To Cryptocurrency Perversion” – Bitcoin Economy News


On October 9, whistleblower and privacy advocate Edward Snowden published an op-ed regarding central bank digital currencies (CBDCs) and claimed that CBDCs are “the newest danger to the world.” public horizon ”. Snowden pointed out that instead of being an innovation, CBDCs are “closer to a perversion of cryptocurrency” and “cryptofascist currency”.

Snowden points out that CBDCs “are expressly designed to deny its users basic ownership of their money”

While politicians and the modern banking cartel have focused on central bank digital currencies, a large number of critics believe they are no different from centralized databases. Former Central Intelligence Agency (CIA) and National Security Agency (NSA) contractor Edward Snowden published an article on Saturday outlining what he believes the CBDCs will bring to society. Snowden is a fan of decentralized crypto assets like bitcoin, ethereum, and zcash. However, when it comes to CBDC, the whistleblower is concerned about the adoption of the technology.

“I’ll tell you what a CBDC is NOT – it is NOT, as Wikipedia might tell you, a digital dollar,” Snowden points out in his article. “After all, most dollars are already digital, existing not as something folded in your wallet, but as an entry in a bank’s database, faithfully requested and returned under the glass of your phone. A central bank digital currency is also not a state-level adoption of cryptocurrency – at least not of cryptocurrency as pretty much everyone who currently uses it understands ” , said the whistleblower. Snowden added:

Instead, a CBDC is something closer to being a perversion of cryptocurrency, or at least the founding principles and protocols of cryptocurrency – a cryptofascist currency, an evil twin that entered the ledgers. on the opposite day, expressly designed to deny its users basic ownership of their money and to install the state at the center of mediation of every transaction.

Snowden concludes by explaining that people make a living from their work and that it might be enough to retire or “if not, can he ever hope to count on the benevolent, if not adequate, provisions of the state – for his well-being, his care, his healing? ” Snowden says he would like to ask members of the Fed, the Treasury, and the U.S. government whether or not the money should be centralized by the state. “Of all the things that could be centralized and nationalized in this poor man’s life, should it really be his money?” Snowden asks in the conclusion of his article.

Eddie Hobbs says “your savings are collateral damage in the new rules of the game”

The future of this corrupt monetary system can be seen a mile away, and in another recently published op-ed, financial advisor and writer Eddie Hobbs explains: “Your savings are collateral damage in the new rules of the game. Hobbs points out that the increase in excess global debt cannot be avoided except by removing benchmark interest rates for a decade or more.

“Central banks know that letting inflation run wild is the only way out, while governments increase borrowing to world war level in hopes of reviving growth faster than debt accumulates. “, explained the financial writer. “The ECB intends to play a shotgun, letting time and inflation erode the real value of outstanding debt as they play their part in squeezing rates into negative territory.” Hobbs adds:

Savings are collateral damage in the new rules of the game. Irish banks charge up to -0.65% for holding cash. So far, this has severely reduced Credit Union’s ability to receive money and is hurting deposits from businesses, trusts and charities, but it will happen next year once money runs out. seven-digit consumer deposits. You can ignore the contrary banking propaganda.

What do you think of Edward Snowden’s opinion on CBDCs and Eddie Hobbs explaining that savings are collateral damage in the new rules of the game? Let us know what you think of this topic in the comments section below.

Tags in this story

Bitcoin price, CBDC, CBDC, central bank digital currency, Eddie Hobbs, Edward Snowden, Edward Snowden bitcoin, edward snowden crypto, edward snowden cryptocurrency, entrepreneur NSA, Savings are collateral damage, snowden, whistleblower

Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, nor a recommendation or endorsement of any product, service or business. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in this article.

Leave A Reply

Your email address will not be published.