Cryptocurrency: CBDC Digital Fiat WARNING BELLS GOING OFF
grarpamp
grarpamp at gmail.com
Tue Jul 25 21:31:56 PDT 2023
Congressman Urges To Ban CBDC, Says Technology "Corrupts Money"
https://bitcoinist.com/us-congressman-urges-to-ban-cbdc-says/
US Congressman Warren Davidson has called for a ban on central bank
digital currencies (CBDCs), stating that they corrupt the concept of
money. Davidson criticized the Federal Reserve's move to develop a
CBDC, comparing it to "building the financial equivalent of the Death
Star." He argued that CBDCs give too much power to central authorities
and reduce money to a tool for coercion and control. Davidson's
remarks came in response to the Federal Reserve Bank of San
Francisco's job advert for a senior crypto architect for its CBDC
project. Other prominent figures, including Florida Governor Ron
DeSantis and Congressman Tom Emmer, have also expressed opposition to
a state-controlled digital dollar.
[–]StrangelyBeigePlatinum | QC: CC 370, ATOM 17 | TraderSubs 12 20
points21 points22 points 1 day ago (23 children)
People corrupt money, we just tell the tech what to do.
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[–]002_timmy 10 points11 points12 points 1 day ago (14 children)
And money corrupts people
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[–]Bunker_BeansPlatinum | QC: CC 224, BTC 40 | ADA 18 7 points8
points9 points 1 day ago (8 children)
And we’ve gone full circle.
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[–]Pristine_Spinach8718Small town girl in a big arcade <3 3 points4
points5 points 1 day ago (5 children)
Congress man and politicians talking about corruption and pointing
fingers. Perhaps they should take a long hard look into the mirror.
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[–]Easy-Medicine-8610Tin 1 point2 points3 points 1 day ago (2 children)
They dont have mirrors for this very reason.
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[–]kirtash93The Ash Ketchum of Crypto | Gotta Catch 'Em All 1 point2
points3 points 1 day ago (1 child)
It is because they are vampires and loves to such citizens blood.
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[–]Easy-Medicine-8610Tin 1 point2 points3 points 1 day ago (0 children)
Dont carry garlic into the capitol building. You will cause a frenzy.
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[–]snowmichaelh 0 points1 point2 points 22 hours ago (0 children)
They want to control everything. They like corrupcy, but only the ones
which they are in.
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[–]azsxdcfvgSilver|QC:BTC130,ETH97,CC76|DayTrading28|TraderSubs99 0
points1 point2 points 1 day ago (0 children)
and tech corrupts tech.
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[–]Impossible-Injury932Tin | r/WSB 12 0 points1 point2 points 1 day
ago (0 children)
Hey nice avatar
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[–]special_onigiri 0 points1 point2 points 1 day ago (0 children)
I'd like to believe people are already corrupted to begin with, money
just makes it faster to show their colors.
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[–]ShadowKnight324 0 points1 point2 points 1 day ago (0 children)
Only those that were already corrupt.
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[–]chocolateboomslangPlatinum | QC: CC 73 | CRO 5 | Investing 41 0
points1 point2 points 1 day ago (0 children)
Maybe the people were already corrupt
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[–]Tasigur1Tin 0 points1 point2 points 1 day ago (0 children)
Wherever there is power, greed, and money, there is corruption ;-)
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[–]Hawke64Platinum | QC: CC 199 0 points1 point2 points 1 day ago (0 children)
Power corrupts people and absolute power corrupts absolutely
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[–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 1 point2 points3
points 1 day ago (0 children)
Near-future self-aware AI: "Hold my bits"
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[–]MindTheMindForMind 0 points1 point2 points 1 day ago (0 children)
But doesn’t money born with a corrupt principle?
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[–]Geolinear 0 points1 point2 points 1 day ago (0 children)
CBDC isn’t even about money. It’s about control. It’s inherently corrupt.
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[–]PeacefullyFightingPlatinum | QC: CC 329, ETH 23 | VET 10 |
TraderSubs 24 -1 points0 points1 point 1 day ago (0 children)
Just like guns don't kill people! If they did my 9th grade history
teacher better change my grade because it was my pencils fault!
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[–]ice_blade_sorc -2 points-1 points0 points 1 day ago (0 children)
Same thing when people blame guns and explosives.
Ban the guy from walking in public instead.
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[–]UnsightlyCornerstone -1 points0 points1 point 1 day ago (0 children)
It's so corrupt that even we are not corrupt enough to control it!
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[–]EdgeLord19941 -1 points0 points1 point 1 day ago (0 children)
So people are the problem, time for a purge
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[–]Enschede2Platinum | QC: CC 181, ETH 91, Coinbase 21 | PCmasterrace
78 0 points1 point2 points 1 day ago (0 children)
Not when it's a cbdc you're not, unless you work for the government
that is, so yea, cbdc's should be stopped, for sure..
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[–]coinfeeds-botApproved CC Bot 5 points6 points7 points 1 day ago (1 child)
tldr; US Congressman Warren Davidson has called for a ban on central
bank digital currencies (CBDCs), stating that they corrupt the concept
of money. Davidson criticized the Federal Reserve's move to develop a
CBDC, comparing it to "building the financial equivalent of the Death
Star." He argued that CBDCs give too much power to central authorities
and reduce money to a tool for coercion and control. Davidson's
remarks came in response to the Federal Reserve Bank of San
Francisco's job advert for a senior crypto architect for its CBDC
project. Other prominent figures, including Florida Governor Ron
DeSantis and Congressman Tom Emmer, have also expressed opposition to
a state-controlled digital dollar.
This summary is auto generated by a bot and not meant to replace
reading the original article. As always, DYOR.
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[–]samer109 3 points4 points5 points 1 day ago (0 children)
We should all stand against CBDCs..
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[–]Inevitable-Lie-4277Tin 2 points3 points4 points 1 day ago (0 children)
Use decide corrupt or pious
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[–]NuewimPlatinum | QC: CC 613, ETH 31 | TraderSubs 31 6 points7
points8 points 1 day ago (4 children)
I agree with him. CBDCs are pure evil and should be banned.
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[–]Technologicalgolf 1 point2 points3 points 1 day ago (0 children)
Exactly!!
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[–]Killertimme -2 points-1 points0 points 1 day ago (0 children)
they people that want them have the power to ban them
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[–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 0 points1 point2
points 1 day ago (0 children)
Unless people want to live in a world where there are expiry dates on
your money and the government can seize it remotely wherever you are
and also establish what can and cannot spend it on, the fight against
CBDCs needs to be relentless. Specially because it's now or never,
once they're implemented they'll be impossible to stop.
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[–]jrodshootsTin 3 points4 points5 points 1 day ago (0 children)
Please stop all CBDC’s. My god the amount of government control there
will be. Drink too much? Accounts frozen. Haven’t paid your bills?
Accounts frozen. Didn’t vote for the right politician? You guessed it…
frozen.
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[–]Elgato_TJTin | CC critic 1 point2 points3 points 1 day ago (0 children)
Cbdcs are a scam , a way to control our money
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[–]Dull-Wear-3286 3 points4 points5 points 1 day ago (3 children)
I can't decide if I hate CBDCs more or politicians
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[–]Fair_Raccoon9333 3 points4 points5 points 1 day ago* (0 children)
In particular when the politicians against CBDCs are awful people themselves.
This politician is anti-choice, pro-January 6 mob, against universal
healthcare, for separating immigrant children from their parents...
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[–]DJCityQuamstyle 1 point2 points3 points 1 day ago (0 children)
Yes
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[–]crypt0_sportsTin | r/WSB 18 -1 points0 points1 point 1 day ago (0 children)
That’s a tough call but if you get rid of the politicians you don’t have a CBDC.
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[–]Ireallyasked 2 points3 points4 points 1 day ago (0 children)
As per the notion wherever i see CBDC, must I comment
CBDC BAD
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[–]jbl1091Tin 1 point2 points3 points 1 day ago (0 children)
CBDC should be banned
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[–]glistoforTin[S] 1 point2 points3 points 1 day ago (0 children)
In a July 23 tweet, Republican representative Warren Davidson
condemned any potential move to launch a CBDC, noting that a digital
currency flaws the ethos of money. Davidson urged Congress to ban and
criminalize any effort to establish a central bank digital currency.
Warren Davidson, the Ohio 8th Congressional District representative,
stressed that money should not be programmable by a central authority.
According to him, the Federal Reserve’s move to develop a CBDC is like
“building the financial equivalent of the Death Star.”He added that
CBDCs reduce money into a tool for coercion and control in the hands
of a central authority (the Federal Reserve). And “Congress must
swiftly ban then criminalize any effort to design, build, develop,
test, or establish a CBDC.”
It bears mentioning that Warren Davidson’s remarks came in response to
the Federal Reserve Bank of San Francisco’s job advert for a senior
crypto architect who would work on its CBDC project. Responding to a
Twitter user’s remark, Davidson also noted that money should remain a
stable store of value and that sound money should facilitate
permission-less peer-to-peer transactions.
While CBDCs continue to gain traction globally, the US Federal Reserve
has been exploring appropriate designs for a potential digital US
dollar. However, the central bank is yet to make decisions about
whether to issue one or not.
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[–]alaminul950 1 point2 points3 points 1 day ago (0 children)
Fk US drama. No more
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[–]KappatalizablePlatinum | QC: CC 846 0 points1 point2 points 1 day
ago (0 children)
And money corrupts politicians like them
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[–]Disavowed_RogueTin | CC critic 0 points1 point2 points 1 day ago (0 children)
People corrupt money, technology is a tool.
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[–]002_timmy 0 points1 point2 points 1 day ago (0 children)
Politicians talking about who will be corrupted by money
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[–]rorowhatPlatinum | QC: CC 389, XTZ 20 0 points1 point2 points 1 day
ago (0 children)
I support this view
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[–]deckartcain 0 points1 point2 points 1 day ago (0 children)
If by technology he means corrupt politicians and bankers, he'd be right.
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[–]TheSauce32Bronze | r/WSB 115 0 points1 point2 points 1 day ago (0 children)
Politician want their cut so bad and pretend they are above greed.
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[–]Technologicalgolf 0 points1 point2 points 1 day ago (0 children)
It is true that CBDC is very bad
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[–]yuruseiiiETHead 0 points1 point2 points 1 day ago (0 children)
You know something is a truly terrible idea when even some politicians
are worried
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[–]TheGiftOf_JerichoPlatinum | QC: CC 831 | ADA 5 0 points1 point2
points 1 day ago (0 children)
No lies here
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[–]crypt0_sportsTin | r/WSB 18 -1 points0 points1 point 1 day ago (0 children)
The headline is correct, we don’t need this garbage.
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[+][deleted] 1 day ago (1 child)
[deleted]
[–]TheSauce32Bronze | r/WSB 115 0 points1 point2 points 1 day ago (0 children)
Greed corrupts everything, guy but is a better system that what we
currently have
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[–]BlooberinoPlatinum | QC: CC 1344 -1 points0 points1 point 1 day ago
(0 children)
governments corrupt money. Technology is great if you keep bad actors away.
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[–]bcmeerTin -1 points0 points1 point 1 day ago (0 children)
Congressmen corrupt money, now gtfo.
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[–]sylsau -1 points0 points1 point 1 day ago (0 children)
This US Congressman must have thought it was an AI that created this
technology he's talking about...
Who created this technology? It's humans. So it's not the technology,
it's the humans who are going to corrupt the money.
As for the technology, it all depends on how you use it.
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[–]robotwizard_9009 -3 points-2 points-1 points 1 day ago (0 children)
The more republicans hate on it.. the more I thinks it's probably a
good thing and a national security issue.. tbh.
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[–]RoskohGold | QC: CC 49 0 points1 point2 points 1 day ago (1 child)
Just looking to get more people on his side... We all know politicians
want cbdcs... Unfortuntly...
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[–]glistoforTin[S] 0 points1 point2 points 1 day ago (0 children)
Most likely
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[–]Extension-Release558 0 points1 point2 points 1 day ago (0 children)
Tech in the wrong hands
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[–]1Tim1_15 0 points1 point2 points 1 day ago (2 children)
I bet Elizabeth Warren and Gary Gensler will eventually come out in
favor of CBDCs. We already know Biden loves CBDCs due to his executive
order. And yes, CBDCs are 1984 on steroids. They must not be allowed.
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[–]GrunblauPlatinum | QC: CC 410, BTC 71 | r/WSB 214 1 point2 points3
points 1 day ago (1 child)
Elizabeth Warren has already came out in favor of CBDCs
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[–]1Tim1_15 0 points1 point2 points 14 hours ago (0 children)
lol...thanks for the link.
It has to be crystal clear what she and others like her are after:
control. They hate decentralized crypto and love centralized "crypto."
The only rationale behind such a position is a desire to control
others. Anyone who votes for her or anyone else who is advocating the
same positions is voting for 1984.
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[–]Captain_HoytBronze 0 points1 point2 points 1 day ago (0 children)
In the history of humankind, nothing has had a more corrupting
influence than money itself. This a$$clown thinks crypto is going to
soil his squeaky-clean money?
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[–]terp_studiosSilver | QC: ETH 55, CC 53, DOGE 39 | r/SSB 13 |
TraderSubs 21 0 points1 point2 points 1 day ago (0 children)
No, government corrupts money.
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[–]ikikjkPlatinum | QC: CC 48 0 points1 point2 points 1 day ago (1 child)
Ill take right for the wrong reasons.
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[–]glistoforTin[S] 0 points1 point2 points 1 day ago (0 children)
Cbdc's are always bad
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[–]CrunchaucityTales from the crypt 0 points1 point2 points 1 day ago
(0 children)
Yes, because money is so pure...
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[–]jwz9904 0 points1 point2 points 1 day ago (0 children)
Money corrupts technology
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[–]OddIndication4Tin 0 points1 point2 points 1 day ago (0 children)
They will say anything to get votes. When it comes to implement the
right things, they shy away. Comes from naturally having no skin in
the game due to their position. Lot's of upside talking and basically
no downside not doing.
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[–]drche35Tin 0 points1 point2 points 1 day ago (0 children)
Why? TLDR?
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[–]Schedule-MutedTin 0 points1 point2 points 23 hours ago (0 children)
Everything is corrupt able if you are evil and creative enough.
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