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The Highwire with Del Bigtree

THE CENTRALIZATION OF CURRENCY IN THE DIGITAL AGE

The Highwire with Del Bigtree

The Highwire with Del Bigtree

News, Society & Culture, Health & Fitness

4.93.4K Ratings

🗓️ 8 April 2023

⏱️ 18 minutes

🧾️ Download transcript

Summary

As the world races into the digital age, control of the money supply is the focal point. While American citizens are in a fight to stop CBDC, other countries like El Salvador have successfully implemented Bitcoin as a national currency. It’s a battle pitting P2P against centralized banks.

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Transcript

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0:00.0

In America here, we're in this space where one of our founding fathers, Samuel Adams,

0:05.1

called the animating contest of freedom.

0:07.3

We're in this space now with our money system.

0:09.8

And we're trying to avoid, as Catherine Rosserman fits, put it, this further centralization

0:14.2

of this currency to a power grab or surveillance type currency in a digital form.

0:20.5

And we reported last year in September, 2022, that the White House, it was kind of the

0:24.4

starting gun here.

0:26.1

They really signal to the public that they're going to explore this now.

0:29.6

White House releases a press release, right?

0:31.1

House releases first ever comprehensive framework for responsible development of digital assets.

0:36.2

And sure enough, right on cue, the UK similar thing, this is from the Bank of England's

0:41.3

website.

0:42.3

And it tells you straight up on the website there, we are looking at the case for issuing

0:45.7

a digital pound.

0:46.9

This type of money is known as central bank digital currency, CBDC.

0:50.9

It would not replace cash yet.

0:53.1

Right.

0:54.1

We've heard that before.

0:56.1

Don't worry about it.

0:57.6

Exactly.

0:58.6

So still king for now.

1:01.5

So what we have now is as these banks are kind of consolidating power going to a top-up

...

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