The Real Rukshan

US Federal Reserve: Central Bank Digital Currencies will not be anonymous
According to comments by Chair of the US Federal Reserve Jerome Powell, Central Bank Digital Currencies (CBDCs) will not be anonymous.

Unlike the plethora of cryptocurrencies and physical currencies that offer varying levels of anonymity, there has been little to no doubt that CBDCs regulated by the government would involve more traditional forms of identity verification, allowing for potential intrusive access/usage oversight.

“We would be looking to balance privacy protection with identify verification, which has to be done…in today’s traditional banking system as well.”

The promise of “privacy protection” when the government knows your identity and has the keys to your digital wallet doesn’t sound like the type of “privacy” one would find using cash or other decentralised currencies.

Powell listed four minimum characteristics that would form the basis of CBDCs if a digital currency were to be pursued.

“First is, intermediated, second is privacy protected…third is identity verified, so it would not be anonymous, it would not be an anonymous bearer instrument, and fourth is transferable or interoperable.”

Private corporations now routinely deny individuals and groups access to their digital assets because of wrong-speak. Worse, in Canada, during the Truckers Convoy protest, the Trudeau government worked alongside banking institutions to suspend access to money held in the bank accounts of protesters.

So unsurprisingly, not everyone is ecstatic about ceding even more control over their money to the government in the form of CBDCs to advance the foundational underpinnings of a social credit system by stealth.

“We have not decided to proceed, and we don’t see ourselves as making that decision for some time”

Although Powell was vague on any timeframes, the increased chatter around CBDCs in the US and worldwide has not gone unnoticed.

The comments come a day after the Reserve Bank of Australia released a whitepaper outlining plans for an eAUD digital currency pilot to explore the use of CBDCs in Australia.

https://odysee.com/@realrukshanclips:9/CGTqnQG3f5uP5kRf:3?src=embed

https://www.rba.gov.au/media-releases/2022/mr-22-31.html

https://youtu.be/QCbzYhW2fuw

Premier Daniel Andrews has refused to apologise for what he claims were “difficult” decisions that had to be made by his Labor State government during “the pandemic event”. He said unequivocally that he would not “apologise for doing everything possible to save lives” during a time we “did not have vaccines” even though an independent Ombudsman report found serious concerns about human rights violations.

While acknowledging the difficulties faced by his government due to the unprecedented nature of the "1 in 100" year event, he went onto blame the then Liberal Federal government for failures that he believes could have been avoided by better government interventions. Claiming the reason “we had lockdowns was because we didn’t have a vaccine…vaccines are not ordered by the State” further insinuating that many of the problems faced by Victorians was due to failures at the Federal level.

In fact the Premier claims that Victorians have demonstrated “to other States who thought taking pot shots at us was a good thing to do, and indeed demonstrated to everyone that when we stick together we can achieve anything and that’s what we have been able to do”.

The Premier also took the opportunity to “make the point vaccines work” and that people should continue to “put their faith in science” by speaking to a GP to consider booster vaccines or their first vaccine dose to help ease pressure on overburdened health systems.

What do you think of Premier Daniel Andrews attempt to re-write the history of the Victorian Labor governments pandemic response? Having lived through some of the harshest and longest lockdowns in the world, and that of any State in Australia do you consider his statements an accurate reflection of history?

One would think every State would have suffered equally due to the failure attributed to the Federal government by the the Premier, yet we know from real world data that almost every other State in Australia performed better than Victoria. Did any other States have such a disaster in the management of its hotel quarantine program, where its leader could not “recall” how and why decisions were made?
Surely Victorians will not buy this hogwash of a narrative by the Premier without challenging him?

Video Source: The Nine Network