90 Nations Now Implementing Fiat Central Bank Digital Currencies

[Goldhedge]

The 'cat' is out of the bag...

90 Nations Now Implementing Fiat Central Bank Digital Currencies​

January 10, 2022
By James Anderson

90 Nations Now Implementing Fiat Central Bank Digital Currencies

Given that the world is currently drowning in record debts and unsaved for unfunded promise piles, it makes sense governments would seek to debase their fiat currency units faster than ever.

sdbullion.com

 

[Buck]

we owe it all to Bitcoin, brought to us as a Trial Balloon...Go Team!

we'll do anything for a few trinkets

 

[ds_mustang]

Last gasp before fiat dies.

 

[Scorpio]

Nothing to do with fiat, as crypt is just another version of fiat,

it is trying to escape the current system, of the IMF, the WB, the IBS, the USD one world currency, the zero, etc
quite a list has been built up

or at least try to build back some level of sovereignty

 

[Fiat Metaler]

This is definitely coming, I've seen the job postings at the regional Feds for it.

But don't confuse it with Bitcoin. This is just the faux version of Bitcoin, like when they came out with GLD and SLV; the fact that those exist doesn't mean you shouldn't own gold or silver.

 

[ds_mustang]

Nothing to do with fiat, as crypt is just another version of fiat,

it is trying to escape the current system, of the IMF, the WB, the IBS, the USD one world currency, the zero, etc
quite a list has been built up

or at least try to build back some level of sovereignty

Crypto is fiat as it is declared to be money by fiat and forced on the population. Wait...

 

[Scorpio]

​

fiat​

[ fee-aht, -at; fahy-uht, -at ]SHOW IPA

---

noun
an authoritative decree, sanction, or order:a royal fiat

a fixed form of words containing the word fiat, by which a person in authority gives sanction, or authorization.

an arbitrary decree or pronouncement, especially by a person or group of persons having absolute authority to enforce it:

 

[ds_mustang]

​

fiat​

[ fee-aht, -at; fahy-uht, -at ]SHOW IPA

---

noun
an authoritative decree, sanction, or order:a royal fiat

a fixed form of words containing the word fiat, by which a person in authority gives sanction, or authorization.

an arbitrary decree or pronouncement, especially by a person or group of persons having absolute authority to enforce it:

You forgot to highlight the rest of the sentence: "having absolute authority to enforce it." Decentralized crypto has no authority to enforce anything on anyone. It's a choice in a free market to be used or not. It's not fiat. CBDC is centralized and has government authority, it is fiat.

 

[Scorpio]

then you misunderstand how it actually works,
you can pretend it is 100% open, but I disagree,

and 'group of persons' refers to any group, including code monkeys for crypts,
they change the code, everything changes

now you say, they can't do that! Actually they can, and are doing so each day.

the exchanges, picking and choosing who to allow on the platform,

I could go on but it really is a monumental waste of time

 

[ds_mustang]

then you misunderstand how it actually works,
you can pretend it is 100% open, but I disagree,

and 'group of persons' refers to any group, including code monkeys for crypts,
they change the code, everything changes

now you say, they can't do that! Actually they can, and are doing so each day.

the exchanges, picking and choosing who to allow on the platform,

I could go on but it really is a monumental waste of time

I agree there is usually a group of devs that have outsized control of each crypto, but still they are open source. But there is no authority that pushes the asset on people "by fiat" or authoritative decree, so it's very different from fiat. After all, the problem with fiat isn't that government creates money we choose to use, it's that it forces everyone into it by decree.

 

[Fiat Metaler]

Crypto is fiat as it is declared to be money by fiat and forced on the population. Wait...

crypto as it exists today is the exact opposite of fiat. Its not forced on anyone and has no official status as money. You can refuse or accept it.

Fiat is legal tender and you can't refuse it.

Central Bank Digital Coins (CBDCs) are crypto and likely will be fiat, but don't confuse those with the crypto that exists now.

You know, there is an interesting historical parallel. We are sort of like the early 1800s in the days of wildcat banks - some banknotes were better than others, and some were worthless. Today, some cryptos are better than others, and some are worthless. Eventually, Lincoln issued U.S. greenbacks to put down the Second American Revolution (aka War of Northern Agression), which are also worthless, and those greenbacks forced out all of the other notes.