IMF Pushing Governments To Ditch Cash, Use Government-Monitored CBDCs
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- The International Monetary Fund (IMF) has called on governments around the world to eliminate physical cash and replace their sovereign currencies with a single Central Bank Digital Currency (CBDC).
- A CBDC is a form of “digital money” that is managed by the government and central bank bureaucrats. The main difference between a CBDC and traditional cash is that “digital dollars” can be tracked and controlled by the government.
- Such a system allows for the external monitoring of an individual’s spending, with the central bank being able to place limits and blocks on the use of the person’s funds.