I post this only as an aside to the continuing CBDC talk and moves away from tangible money

MsMorrisine

A record 8.5 million Chinese borrowers – about 1% of the country's working-age adults – are blacklisted by their government for failing to pay their debts, the Financial Times reported on Sunday.

The 8.54 million blacklisted borrowers, who are mostly aged between 18 and 59, are barred from buying airplane tickets, making mobile payments using apps like Alipay, working for the government, using toll roads, and engaging in many other activities, the paper reported.

https://www.msn.com/en-us/money/markets/a-record-8-5-million-chinese-borrowers-are-now-blacklisted-for-not-paying-their-debts-a-report-says-they-re-feeling-the-same-financial-pressures-as-americans/ar-AA1kYPPu

bidask

@MsMorrisine said:
A record 8.5 million Chinese borrowers – about 1% of the country's working-age adults – are blacklisted by their government for failing to pay their debts, the Financial Times reported on Sunday.

The 8.54 million blacklisted borrowers, who are mostly aged between 18 and 59, are barred from buying airplane tickets, making mobile payments using apps like Alipay, working for the government, using toll roads, and engaging in many other activities, the paper reported.

https://www.msn.com/en-us/money/markets/a-record-8-5-million-chinese-borrowers-are-now-blacklisted-for-not-paying-their-debts-a-report-says-they-re-feeling-the-same-financial-pressures-as-americans/ar-AA1kYPPu

So your point is ?

MsMorrisine

there is investigations in the FedRes on CBDC
when they control money flow, the can control you.

one part of the above is just a step to force the person to use cash via no AliPay. but focus on the rest: we're going to punish you by restricting how you use money.

CBDCs are a threat to spending freedom.

Keep money as gold, silver or even paper. just say no - to CBDC

GoldFinger1969

CBDC might complement those forms of transactional means, I don't think it will ever replace it.

American people don't want it, and I don't think either party does, either. Not sure the Fed does, too.

psuman08

There are a lot of things the American people don't want that have been happening. I'm with you @MsMorrisine.

derryb

@bidask said:

@MsMorrisine said:
A record 8.5 million Chinese borrowers – about 1% of the country's working-age adults – are blacklisted by their government for failing to pay their debts, the Financial Times reported on Sunday.

The 8.54 million blacklisted borrowers, who are mostly aged between 18 and 59, are barred from buying airplane tickets, making mobile payments using apps like Alipay, working for the government, using toll roads, and engaging in many other activities, the paper reported.

https://www.msn.com/en-us/money/markets/a-record-8-5-million-chinese-borrowers-are-now-blacklisted-for-not-paying-their-debts-a-report-says-they-re-feeling-the-same-financial-pressures-as-americans/ar-AA1kYPPu

So your point is ?

point is CBDCs, if the only form of barter, can be used by a government to control a private individual's social, political and financial decisions. It's like a kid having to behave to get his allowance.

derryb

@GoldFinger1969 said:
CBDC might complement those forms of transactional means, I don't think it will ever replace it.

American people don't want it, and I don't think either party does, either. Not sure the Fed does, too.

Increased payment and money transfer options are a good thing. When the only option has a government at the spigot it can be a very, very bad thing. Ask the Canadian truckers.