**Summary:**
In this video, the speaker discusses why Central Bank Digital Currencies (CBDCs) should not be taken seriously. He points out that CBDCs are unnecessary and will likely not succeed due to the limitations and ineffectiveness of central banks. The speaker highlights the flaws of the current financial system, praises Distributed Ledger Technology (DLT) for its benefits, and expresses skepticism towards the adoption and success of CBDCs in various countries, particularly citing China's example. He emphasizes that CBDCs are more of a political move rather than a practical solution to existing problems in financial systems. The speaker concludes that CBDCs are unlikely to compete with cryptocurrencies, as they lack the trust, efficiency, and innovation present in the crypto world.

**Detailed Article:**
In this video, the speaker presents a critical analysis of Central Bank Digital Currencies (CBDCs), expressing his skepticism towards their significance and potential success in the financial landscape. He starts by questioning the credibility and efficacy of central banks, claiming that they are often portrayed as more powerful and influential than they really are. The speaker argues that the repeated rounds of quantitative easing implemented by central banks demonstrate their lack of substantial impact on the economy, contrary to popular belief.

The speaker highlights the advantages of Distributed Ledger Technology (DLT), praising its transparency, immutability, speed, efficiency, and inclusivity. He suggests that the use of DLT in decentralized finance (DeFi) applications will have a significant positive impact in the long run, contrasting it with the limitations of the current financial system, which he criticizes for its lack of transparency, speed, and inclusivity, being controlled by gatekeepers such as Wall Street entities.

Regarding CBDCs, the speaker dismisses them as a vain attempt by governments to maintain relevance in a digital world, pointing out that CBDCs are primarily driven by politicians and bureaucrats rather than central banks. He questions the feasibility and acceptance of CBDCs outside their respective countries, exemplified by China's CBDC, which he predicts will not gain traction globally. The speaker argues that CBDCs are unnecessary innovations that do not address any specific problems in the financial system, contrasting them with cryptocurrencies designed to solve existing issues.

Furthermore, the speaker doubts the willingness of the private banking sector to adopt CBDCs, suggesting that they do not align with the sector's interests. He emphasizes that governments pushing for CBDCs are attempting to create an illusion of control and relevance in monetary affairs, despite lacking actual power. The speaker concludes by asserting that CBDCs are more of a political gesture rather than a practical solution, suggesting that they are unlikely to compete with cryptocurrencies, which offer a more innovative and trustworthy alternative in the realm of monetary exchange.

In summary, the speaker's analysis underscores his skepticism towards CBDCs, highlighting the shortcomings of central banks and the current financial system while praising the potential of cryptocurrencies and DLT. His evaluation suggests that CBDCs are unlikely to succeed due to their lack of innovation, practicality, and trustworthiness in comparison to existing decentralized financial technologies.

>a feeble attempt by government to remain relevant

Completely agree.  They don't even know where to begin, they are old money, terrified with any other system other then the one they think they understand.

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I like the analogy with the illegal sharing of music. So long as the government can't fully control things, its not a threat to the rest of us and I don't think the banks will give up without a fight. Because once CBDCs come out, the government will be the one in control and not them.

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In my opinions, QE makes more sense if you consider that those printing the money are intentionally trying to crash the current system, put small business out of business and instill rampant inflation so that paying down those trillions in debt becomes something that can be accomplished in a decade with an inflation rate of 10+%.  

The banks cannot lend money with this inflation rate and current interest rates. So once things are crashed then expect interest rates to finally rise so that the money you pay them back has as much buying power as the money they loaned you. Expect money printing to stop. Expect anyone that wants to work in a non-underground job to need to be paid in CBDCs. They will then own you as they will own your wallet. 

Even with fiat there have been two occasions that my bank would not allow transfers to go through for two crypto exchanges. Once they would not allow my debit to be used for precious metal purchases. After phone calls on all those occasions and some argument with the bank the transfers went through with an apology that it was only for *my own security*.

Imagine if that had been CBDCs and such transfers were simply not allowed, period.

CBDCs are no joke and they must be stopped. Maybe to folks like us have crypto bags and precious metals it is a joke yet for Joe Average it is the next battle line, in my opinion.

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