Bank of International Settlements

Plans on taking away hard currency and replacing it with digital currency.

Thoughts?

By the way, they already attempted this in Nigeria about four years ago. It lead to some major riots, and ultimately the people of Nigeria voted out their politicians and demanded that the newly elected ones arrest the ousted ones.

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DDonde · 31-35, M

I don't know anything about that bank, but about 99% of all transactions I do are digital.

Ferric67 · M

@DDonde under their set up, they control your money.

In other words, they can take it from you if they see fit without your permission.

DDonde · 31-35, M

@Ferric67 I'll go somewhere else then

Ferric67 · M

@DDonde they want all currency, worldwide digitized

This Bank basically is the the top of the food chain, created by the aristocrats of Europe in the mid to late 1800's and put into practice 1930 to collect payments from Germany for WWI
Funny thing, half of their board of directors at the time were Nazis

Ynotisay · M

@Ferric67 @Ferric67 That's not true. Far from it. I don't know where you saw that but if you have a link you can share that would be appreciated.

Ferric67 · M

@Ynotisay
https://www.cato.org/blog/nigerias-cbdc-was-not-chosen-it-was-forced

https://www.theguardian.com/world/2023/feb/15/angry-protests-erupt-across-nigeria-against-scarcity-of-cash

Ynotisay · M

@Ferric67 Ok. Thanks. A couple of things.

You sent me a link to a Guardian article that was a year old. Those people were protesting because the government was switching from old bills to new bills and the deadline was approaching. That's what the article was about, right? Zero to do with digital currency.

But here's what gets me with that Cato article. Nigeria adopted digital currency in 2021. The writer said it was adopted due to the cash shortage. But that happened in 2023. The math doesn't really add up, huh? I wonder if there's a reason for that?

Digital currency in Nigeria is optional. The [i]vast [/i]majority use legal tender. And I still don't know the role BIS has in this.

But to toss it out there the WORLD will use digital currency in the future. There's no question about that. A digital dollar will happen. With all the necessary safeguards to allow economies to continue to function successfully.

But maybe you just want to believe that 'the man' is going take what's yours. Or you'll become a slave in some dystopian society. There's some out there who want others to believe that. They use words like "riots" and "forced" in headlines because it's effective. Whatever. My money is on the smart, reasoned people.