A Conversation about the Intricacies of Centralized Digital Currency: From CBDC Development to Federal Overreach & Global Strategy
SAN JUAN, PUERTO RICO / ACCESSWIRE / September 5, 2023 / Christian Briggs, Founder and CEO of Hard Asset Management, Inc., recently featured as a distinguished guest on the "On A Good Fight" radio show with host Jameson Haygood. The illuminating session dissected the nuanced facets of the rapidly evolving world of digital currencies.
LISTEN TO THE EPISODE:
https://podcasts.apple.com/us/podcast/hard-asset-money-show/id1576564099?i=1000626397388
A primary focus of the discussion was the marked contrast between decentralized digital currencies, such as Bitcoin, and the centralized Federal Central Bank Digital Currency (CBDC). Briggs shed light on the central role of the Bank of International Settlements (BIS) based out of Switzerland - often dubbed as the "bank of banks." BIS has strategically orchestrated a white paper detailing the architecture of the imminent CBDC rollout across nations and the subsequent interconnection of these systems.
One of the significant revelations from Briggs was the partnership with Ripple (XRP) in supporting this vast payment network. Close to 50 nations, as of now, have pledged to integrate the Ripple platform for their digital currency initiatives. Remarkably, data from the World Economic Forum (WEF) highlights the blistering pace of CBDC development: in June 2018, no country was reported to be involved in CBDC R&D. Fast forward to today, over 100 nations have plunged headfirst into CBDC projects.
Christian Briggs stressed the profound implications of such a centralized system. "The rapid embrace of CBDCs globally offers governments a lens into individual financial activities at an unprecedented scale. This isn't merely a financial revolution; it's a shift that could significantly challenge our civil liberties," he commented.
Highlighting a statement from March 2023, Federal Reserve Chairman Jerome Powell affirmed the need for congressional authorization for the Federal Reserve to release a CBDC. Contradictorily, Powell also hinted that certain CBDC forms might bypass legislative oversight entirely. Validating these claims, by July 20th, the Federal Reserve had already initiated "FedNow" - a foundational step toward a U.S. central bank digital currency. Notably, this pilot program has garnered the participation of over 120 banks and payment service providers.
Hard Asset Management, Inc. consistently showcases its dedication and expertise in the world of rare coins and precious metals. As the financial landscape shifts and evolves, the firm remains steadfast in its mission to provide clients with unrivaled knowledge and opportunities in the rare coin market. Their unwavering commitment to excellence and client service solidifies Hard Asset Management, Inc.'s esteemed position in the industry.
Contact Information
John Grainer
info@bmcham.com
844-426-4653
SOURCE: Hard Asset Management, Inc
https://www.accesswire.com/779869/hard-asset-management-ceo-christian-briggs-breaks-down-the-digital-currency-landscape-on-on-a-good-fight-radio-show
