https://www.freemalaysiatoday.com/category/opinion/2022/03/09/you-could-lose-control-of-your-money-if-bnm-adopts-cbdcs/
You could lose control of your money if BNM adopts CBDCs
But under the guise of CBDCs’ seeming barrage of benefits lies a much more sinister reality. This was best encapsulated by a line in an article in The Telegraph, which was reporting on the CBDC plans of the Bank of England: “Digital cash could be programmed to ensure it is only spent on essentials, or goods which an employer or government deems to be sensible.” With CBDCs, the government would be able to dictate how and what we spend our money on. The money that we have earned through our hard work would not be ours to spend at our discretion if the government arbitrarily deems our purchase as something not sensible. But what gives the government – or anyone other than us, for that matter – the right to dictate what is sensible for us and what isn’t? In such a future, everything we do with our money – if we can even call it that anymore – will be under the scrutiny, surveillance and control of the government.
| 
Post time 10-3-2022 05:47 PM
Author
