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Central Bank Digital Currencies On the Way

Summary:
The Central Bank Digital Currency Tracker shows the evolution towards central bank sponsored digital currencies.Nearly 80% of central banks are engaged in work related to national digital currencies, according to a 2020 Bank of International Settlements survey.Last month, China announced a pilot project of its digital Yuan in four cities. This month, the US is considering implementing a digital dollar. Country SpecificsDigital Currencies are ComingThere are advantages to digital currencies especially in terms of payments.But the push for digital currencies is also nefarious. Governments can and will track every penny of every person 100% of the time. And when in place, digital currencies open up new avenues of control especially in regards to negative interest rates and wealth

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The Central Bank Digital Currency Tracker shows the evolution towards central bank sponsored digital currencies.

Nearly 80% of central banks are engaged in work related to national digital currencies, according to a 2020 Bank of International Settlements survey.

Last month, China announced a pilot project of its digital Yuan in four cities. This month, the US is considering implementing a digital dollar. 

Country Specifics

Central Bank Digital Currencies On the Way

Digital Currencies are Coming

There are advantages to digital currencies especially in terms of payments.

But the push for digital currencies is also nefarious. Governments can and will track every penny of every person 100% of the time. 

And when in place, digital currencies open up new avenues of control especially in regards to negative interest rates and wealth taxes.

Mish 

Mike Shedlock
Mike Shedlock (Mish) is a registered investment advisor representative for SitkaPacific Capital Management (http://www.sitkapacific.com/). Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

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