Micael on Nostr: Let me fix this definition provided by my web browser. CBDC stands for Communist ...

Let me fix this definition provided by my web browser.

CBDC stands for Communist Based Dictatorship Currency, which is the worst form of fiat currency. It’s issued by private central banks for private profits.

Definition:

A digital Currency Based on Social Credit.

A new form of Debasing the Currency value and imposing negative interest rates.

A new form of social engineering to impose compliance and force human behavior.

Purpose

Designed to take the sovereignty away from the people and their money. The opposite to Bitcoin.

To promote debt slavery.

To get more control over monetary and fiscal policy.

To impose mass surveillance on every commercial transaction done by individuals and businesses.

To improve tax compliance and wealth confiscation.