I have late mentioned the efforts of Nigerian and Ukrainian governments to be among the “pioneers” in the implementation of CBDC (digital central bank currencies). In the first case, the pretext is to present CBDC as a panacea for chronic corruption and financial crimeand in the second case, highlighting their expected effectiveness in the work the financial service of a country in conflict.
However, Nigeria and Ukraine are not global financial opinion makers, unlike the US. So just wait until Fed Announces that the introduction of CBDC, which has been under way in the United States since December last year, is the best warrant for preventing the collapse of institutions specified as Silicon Valley Bank whether the infamous FTX cryptocurrency exchange, or financial entities with a much more "systemic" meaning, which may shortly begin to spread as part of the debt effects of dominoes. After all, all transactions carried out in CBDC are absolutely public to the central supervisory system, and thus – as we may shortly hear – their registry allows to control on a regular basis whether "systemically important" banks or investment funds are decently capitalised.
So, if a akin siren of singing, inspired in the US and repeated around the world, is shortly to scope our ears, then there should be no uncertainty as to how to answer it: the request for cash inviolability, the elimination of cash payment limits and the dismantling of any prying "central registers" of transactions, especially those subject to "internationally harmonised" regulations. Then and only then can 1 be certain that he did not become passive in opposition to the imagination of a planet in which Buy and sale cannot be bought by anyone who is not marked by the builders of the global Tower of Babel.
Jakub Bożydar Wiśniewski
