The Rising Tide of CBDC Propaganda: A Critical Perspective

If you are a bitcoiner or anarcho-capitalist or a truther or a libertarian - CBDC’s have been on your radar for a while now. Not in a good way like “Yay the CBDC’s are coming” but in a bad way like “Hey watch out for this evil CBDC shit they are going to try and pull!” In fact if you are on X or NOSTR or any other free speech tolerant platform, the messaging has been pretty consistent for a while now - CBDC = BAD. Well get ready for the CBDC wall of positive noise cause the unelected globalist backing these central bank digital currencies are on the offensive!

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Over the last week or so I have seen some pretty interesting foundational marketing come out that “addresses” concerns the public have expressed as CBDC adoption blockers namely - privacy. Which means that we have done a good job of putting the privacy risk aspect of CBDC into the collective consciousness and “they” are starting the spin.

Here are some key examples:

BIS’s Stance on Privacy: Cecilia Skingsley, head of the Bank for International Settlements (BIS) Innovation Hub, which oversees various CBDC research projects, recently stated, “Central banks have no commercial interest in personal data – unlike the private sector.” (You can read more on CoinDesk). For context, the BIS, established in 1930, is an international financial institution owned by 63 central banks, representing countries that together account for about 95% of the world’s GDP. Their mission is to support central banks in achieving monetary and financial stability through international cooperation and to act as a bank for central banks.

Back to Cecilia - her statement was made on the back of a research paper issued by the BIS titled “Central Bank Digital Currency and Privacy: A Randomized Survey Experiment” whose main findings were as follows:

1. “the privacy-preserving variations of the CBDC design have significant effects on the willingness to use CBDC when respondents purchase privacy-sensitive products (e.g. psychiatric services, adult products).”

2. “the willingness to use CBDC substantially increases with the provision of information about the privacy benefits of using it.”

3. these effects vary with respondents’ trust in public or private institutions with regard to privacy protection and their demographic characteristics”

Which basically means people buying porn or sex toys or other private things they don’t want their mom or employer to know about are not willing to use a CBDC UNLESS we ensure them that the CBDC is actually MORE private and that their willingness to believe this is based on their current sheep score.

Just a few days later we get a second silo from the central bank club - this time from the Ex-Bank of Spain Chief Miguel Fernández Ordóñez who during an EU Parliament Committee meeting on the digital euro said, “Such a currency could help end economic crises, and even help deregulate banks,”. Wow. Pretty big statement addressing FEAR of the current and ongoing banking crisis. They then go deeper into the benefits of the ECB (European Central bank) to have “direct monetary policy,” which to you and I mean they can program the money directly based on their desired outcome - Liquidity issues? shut down withdrawals. Spending down? Forced expiration.

The final part of this little trifecta was reported today with the headline “Central Bank Project Shows CBDC Payments Can Be Private” Apparently 12 days after releasing their privacy concerns research paper they released a solution research publication - “Project Tourbillon: exploring privacy, security and scalability for CBDCs” which builds two CBDC prototypes that addresses three features:

• privacy by enabling payer anonymity.

• security by implementing quantum-safe cryptography; and

• scalability by testing the prototype’s ability to handle a growing number of transactions using payment data.

Pretty interesting. Problem - Privacy. Reaction - We don’t want your data anyways. Solution - We made it private.

Now in full disclosure I don’t know if their claim about their prototype is true or not. What I do NOTICE is the tactical and strategic turn of the messaging around CBDC’s by the central bank advocates/agents. This is what is important here. For those of us who already understand that central bank fiat is central bank fiat whether it is paper money or digital euro, this won’t matter BUT for the normies…… this is the beginning of the spin to ensure them that all their concerns are for naught, the naysayers are just a bunch of crazy radicals and Bitcoin is only for institutional investors held at banks but don’t worry you can still buy some shares in our Bitcoin ETF and PRETEND you own Bitcoin.

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