A government that does not provide for you cannot control you. Demanding the government provide more to the citizens allows the government and bureaucrats to take more control of your life and your choices. The same can be said about who controls your money.
If you don’t want someone else to control your money, then a government-controlled digital currency should make you concerned. If you’re not concerned about the government having control of every aspect of your life, then you are not paying attention to the states and country.
One proposal for a government-controlled digital currency is called the central bank digital currency, or CBDC. You may have heard of this at some point. Maybe you have done some research. Maybe you already know it’s a bad idea. For those who have not and do not, I will enlighten you.
Why is a CBDC bad?
Using the CBDC, the government will, not could, control your money. In my column from Sept. 17, 2022, I used an example about a government-forced savings program. I wrote about how the government would fix the problem with Americans not saving enough money by forcing a savings rate on everyone. This is feasible with a CBDC. Even if you had a huge savings, your specific situation wouldn’t matter because the government only does one-size-fits-all solutions.
That was just one example of how the CBDC could be utilized to control citizens. The government is pushing us towards a CBDC because they want control.
How can having a CBDC control citizens? Do you remember what it was like when you were a teenager? If you turned up the thermostat because you were cold, your dad would probably yell at you. He pays the bills, so he controlled the heat. If you were cold then you could put on a sweater. Sometimes your dad would, no doubt, say “my house, my rules.”
This all boiled down to control of money. He earns it and he can spend it how he pleases. You are the child who doesn’t earn the money, so you had no say in how the money was spent.
Based on that, how would the government control citizens? With a CBDC, the person who earns the money is not the one who necessarily controls the money. Because it’s digital, the receiver of the money would have very few options to convert it without the government’s blessing.
Someday, Washington Gov. Bob Ferguson, in the name of being green, will only allow Washington residents to spend their CBDC on two airline flights per year. He might also limit your allowance of gasoline to 20 gallons per month. What vices exist that certain government leaders, whether left-wing or right-wing, could limit or control?
Remember, the CBDC is not cash. You cannot just take a piece of paper and give it to someone in exchange for something of value. It is digital. Try taking a couple electrons and some ones and zeros and handing them to someone.
Why does the government want to push a CBDC? There are two big reasons. One is taxes. Paper currency can only be taxed if the receiver reports it. All CBDC transactions are known to the government and therefore are taxable. Cha-ching!
Number two and more chillingly is to control the citizens. You don’t think the government is into controlling citizens?
Have you been to a store in Idaho and gotten a bag for your groceries whereas in Washington you either pay for it or bring your own? How about in 2035 when you want to purchase a gas-powered car in Washington? It’s not going to happen. Those are two real examples of control.
The government can simply shut off your ability to use your CBDC at any location they don’t want us to use it.
The government is going to tell you the CBDC will be used to fight crime. That is laughable. Their control of the people may have a side effect of stopping some crime but that isn’t a goal. Most of our Democrat leaders invite crime by creating policies that protect criminal activity. Do you think they really care about crimefighting?
Anderson is a former co-host and producer of a conservative talk radio show. He has a degree in philosophy and enjoys photography, woodworking, and sports. When not computer programming, he volunteers in the community. He welcomes feedback at crier@cityofpullman.com.
