Government and the world oligarchy want to ban cash. By signing this petition cash will be enshrined into law. But what is the real issue here? If cash is banned and a digital only system comes in EVERY transaction you do will be scrutinised, you will NEVER be able to make an anonymous payment again! Never again donate a few coins to. homeless person, never send the kids to the shops for $1 of mixed lollies without the powers that be knowing about it. A world without cash is a world under the microscope!
As Australian citizens we should be concerned about the disadvantages of a Central Bank Digital Currency. Traceability: In the case where physical cash is eliminated entirely this eliminates our ability to transact in a fully anonymous manner. Negative Rates: With CBDCs, you cannot withdraw your digital tokens and hold them under the mattress. If there is no option for physical cash this gives central banks ability to implement negative interest rates. Programmability: CBDCs give central banks a unique opportunity to make money “programmable”. For example: Expiration, with a direct relationship with your central bank, CBDCs could permit a currency expiration policy. Your money could be programmed so that if you don’t spend the $5000 in your account by next Saturday, it will expire. Personalised monetary policy: With a bank of Big Data on individual spending habits, coupled with digital identification infrastructure, the central bank will have enough information to tailor its monetary policy personally. For example if it is known that lower earners have a higher propensity to consume, stimulus can be directly delivered to those people. Personalised monetary policy could even become politicised. A government could segment its voters, identify communities where it is behind in polls, and deliver stimulus to these groups.
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