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/leftypol/ - Leftist Politically Incorrect

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File: 1683150054505.jpg ( 18.09 KB , 549x319 , central bank digital curre….jpg )


Cockshott made a video about central Bank digital currencies.

He has an unusual take on it, he says that they would lessen the neo-liberal character of the economy and too-big-to-fail for privatized banks would come undone, and there wouldn't be a problem with letting privatized banks go bankrupt if they become insolvent.

He says that it will change the balance of forces within the upper classes:
a strengthening of state versus private finance
a slowdown of financialisation like it was from 1945-1970, lowering money creation.
Industrial capital will become more important relative to the banks
there will be less rent-seeking.

He also says that it would reduce tax-evasion and hinder organized crime, i didn't understand the reasoning for that tho.

I'm kinda wonder about the privacy aspect.


>I'm kinda wonder about the privacy aspect.
You should, given that multiple WEF officials have stated that it's explicitly about controlling people.


you can't even buy crypto without ID today

so the whole idea is pointless since its no better or secure than credit card

there's monero and other alternatives but you immidietly labeled criminal even if you mention it. so nobody uses it anyway

most likely it isn't perfect either

while interesting current gen of these currenties and applications are 'hoaxy' so its pure speculation or something


i have read a very good article in some anarchist joournal about these currencies how they were created out of some schizo ideas of the 90s

bitcoin obv. wasn't even remotely first currency and it was just engeenered or whatever

actually very good article on history and concepts that makes it pretty clear lmao


Oh lol Dickblast is part of the club. Interesting angle he played.


The WEF's "you'll own nothing" is like the total oppposite of socialism.

There is basically 3 types of property: personal, public and corporate property
In fully realized socialism there would be only personal property (like your stuff) and public property (like roads).

The WEF wants that corporate property replaces all personal and public property, and everything becomes a subscription to a rental service, and the only way to own your stuff is via "manual liberation".

I suspect that what Cockshott has in mind doesn't really involve anybody from the WEF tho, he sees Central Bank Digital Currency as a way for nation states to regain power over finances. Currently the Bahamas, Nigeria, Russia, Thailand, Malaysia, South Korea, the United Arab Emirates, Saudi Arabia and 7 Eastern Caribbean Union countries, have a central bank digital currency. China is working on one but it's not yet rolled out. So I guess we should look at what effect it has in those countries.

I see a potential problem because CBDCs might be ab/used for blocking the finances on the basis of political disagreements, that would cause it to fail, because nobody trusts banking that could just be turned off. In order to prevent financial which-hunting they would require very rigorous privacy features.

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