Australians must fight in the new Orwellian Horror!

This week Australia’s living God made international headlines by declaring a research project into crypto currencies.

The Digital Finance Cooperative Research Centre (DFCRC) on a research project to explore use cases for a central bank digital currency (CBDC) in Australia.

The RBA announce coincides with the announcement by the Senate Select Committee on Australia as a Technology and Financial Centre.

Australians need to ensure that the RBA and the Federal Parliament does not impose totalitarian control through the Central Bank Digital Currency.

Australia is headed down a path with little democratic consent and there is a lot of uncertainty were public policy is going in Australia.

There is a possibility that CBDCs will improve economic life in Australia, but there is also a possibility that it may not.

The RBA cannot be allowed to alter economic life in Australia without a democratic mandate. The Prime Minister and Treasurer need to explain why CBDCs are being developed in Australia and what is the public policy case.

The Australian people must ensure that physical cash is never eliminated and that freedom and privacy remains the corner stone of Australia’s payment system and economic life.

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  1. Well its just a fancy scheme for store credit directed by the central bank. Not only will the people be forced into purchases done in a certain way but all the merchants will be forced into certain compliance measures under that scheme on the back end. Its a limiting of fungibility which makes the CBDC less valuable than regular cash. Its probably really bad for small business and will only funnel resources into Bunnings, Woolworth cooperate entities.

  2. In regards to the cross boarder payments and the friction of moving between different central banks and banking institutions and instant settlements you will want to look at Ripple Labs and the XRP Ledger they have been positioning themselves to be the perfect bridge currency for over a decade now the have hundreds of banking partners around the world and also have the ability to build CBDC's on the XRP Ledger on a side chain that is private, they are currently building a CBDC for the country of bhutan. they also have deep ties with the IMF, BIS and WEF the CEO Brad Garlinghouse has had Meeting with Christine Legarde when she was still head of the IMF as well.

  3. CBDC is ONLY about more control, more government and less privacy. Dress it up however you want programable currecny regardless of its initial implimentation can always be updated' I cant imagine any Central Bank locking the code as is done with other dital currencies to prevent changes. All transactions can and will be recorded and will be used against you when government wants to.

  4. CBCDs what a joke! 🤣 can't wait to strictly transact in Bitcoin and do away with these penny pinching low lives.

    Fiat currencies around the world are in real trouble IMO. Bitcoin and the crypto world is going to swallow them all whole….

  5. For someone that has no mortgage, no debt. I could live on Universal Basic Income (UBI). As long as it was around $400p/w… I could retire..:) $400 per week pays for all my needs.

  6. First .. It doesn't matter if any one country "builds their CBDC" differently to anyone else, because it could just be changed later. There's no consensus to deal with like in a decentralised system. Also, the idea of "programming" money so it can't be spent in a particular way would be more effective in reverse – they could simply disable someone's ability to receive money (Or just lock their account so they can take whatever gets sent to them later).

    Second .. Consider the metadata laws they snuck through .. "Oh it's nothing, it's nothing" .. That and this are complimentary parts to a very ugly surveillance and control machine.

    Third .. It won't look or feel any different to normal people. Maybe a CBDC will come along, but it will still "be" the Australian Dollar, or whatever other sovereign currency. At most it's "Hey, you can just use your dollars with this sleek new app!", if even that. Maybe they will just keep the banks around to be the "retail frontend" while changing everything behind the scenes. That way everyone will be migrated to it and begin using it without even knowing, yet alone most people causing any friction.

    If this comes in, we'll see a level of tyranny never before seen.

  7. All this talk about The Central bank looking for control with a token, the war on cash etc. Who actually uses cash these days? It’s very rare and very inconvenient. We’re already controlled really 🙂

  8. They will tie this to your allowed carbon credits and every thing you do, eat and use will have a carbon value attached and once you reach your carbon limit you will be cut off or have to but more carbon credits at a premium. This must be defeated.

  9. A programmable central bank digital currency is the beginning of communism… Sold as being safe and effective, but with the ability to stop, control and limit the use of out own money… Capitalism ends and top down central planning begins

  10. The Trilateral Commission just had an event about our digital wallet that will be our ID, Passport, wallet and access point for all government interactions. The International Standards Organisation has all the information you need

  11. I can remember when pay was forced to be done into bank accounts with no more cash in hand. There was a lot of discontent.
    Many years later and all the douchebag men out there that can’t use their wand so freely and impregnate without thought, as no matter where they go in australia if they want to live …they must get paid, and into a bank account, which family services can deduct money from for payment to the upbringing of any bastard child.

    The govt cannot so many things right…they can in theory, but in practice get weighed down by their own beauracracy and fairness. But one thing they do well is take off some and transfer to others. They don’t do it that makes a most productive society, but they do the taking and distributing so often, they do it well.

    Translate that into crypto space, where anti social bordering on criminal or civil disruption, if preventing known criminals or people that are seriously anti social or are known to disrupt the peace have their govt transfers (money they have not earnt from being productive) be restrictive so they cannot spend 40% of it on alcohol….I am alright with that.
    That alcohol will lead to body malfunction which will be covered by Medicare and the public health system.

    Basically, govt transferred money can be monitored…I don’t give a s..t. And people who have earnt their own. Money from being productive will not.

    How does this work? We have clear distinction and separation of govt money and bank created money. Govt does not have an implicit guarantee of all banks, banks can fail..and. Or create the govts currency to the moon. The govt can control their units with restriction to retail…for purpose of allowing people to sustain themselves.

  12. It’s funny…In time of crisis the govt wants to stimulate spending/ aggregate demand (be the spender of last resort).
    So they enable people to spend money they did not earn, on products most likely made overseas…that wil see a percentage of that money go overseas and reduce the nations currency value, and the other percentage go to the business owners who are thinking of riding the storm and probably saving what revenue they earn, with the rest going back to the govt to help them effect other crisis payments

    All under the umbrella of Keynes crisis management …keep the velocity of money going to effect aggregate demand ….but this was at a time after world wars and a gold standard.

    Not after a time or private bank issuance of freely created money (or Basel capital standards…what version we on now?) where there too much money…way too much.
    And where does it eventually fo, in it it’s many cycles? Into other financial products which allow further consumption via the most ubiquitous retail digital payments…credit cards.

    The govt on top of all this wants to distribute money for consumption.

    I thought the idea of “no such thing as a free lunch” was still regarded as true rather than a catchphrase to signs how clever you think you are…before you sit down for a meal you have not paid for

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