Perhaps not but renaming the unit of account and making it wholly digital won't do anything to resolve decades of monetary and fiscal distortion. If there were a transition to a true digital currency then it would be debased at an accelerating rate to avoid deflationary collapse, resulting in inflationary collapse of the new unit of account.
That would be why it would have to be attached to a social credit scheme. Low scorers would have large fractions of their assets liquidated, which would keep the rest of the economy stable.
Authoritarian nut-job dictators have the lowest social credit scores imo. I wish that people under their spell (e.g., Chinese, etc.) would effectively and cleverly "fight" back, but I guess they are too oppressed to even come up with organized plans to do so, anymore, or else when they do, it doesn't ever work. Americans must Resist the Great Reset with everything we have got in us. Second amendment must be defended for as long as the country endures, even by people who don't necessarily want to own weapons or use such. People in countries without that human right protectively intact appear to always fall under utterly corrupt oligarchies.
Don't assume the CBDC will be denominated in "USD".
Perhaps not but renaming the unit of account and making it wholly digital won't do anything to resolve decades of monetary and fiscal distortion. If there were a transition to a true digital currency then it would be debased at an accelerating rate to avoid deflationary collapse, resulting in inflationary collapse of the new unit of account.
That would be why it would have to be attached to a social credit scheme. Low scorers would have large fractions of their assets liquidated, which would keep the rest of the economy stable.
Authoritarian nut-job dictators have the lowest social credit scores imo. I wish that people under their spell (e.g., Chinese, etc.) would effectively and cleverly "fight" back, but I guess they are too oppressed to even come up with organized plans to do so, anymore, or else when they do, it doesn't ever work. Americans must Resist the Great Reset with everything we have got in us. Second amendment must be defended for as long as the country endures, even by people who don't necessarily want to own weapons or use such. People in countries without that human right protectively intact appear to always fall under utterly corrupt oligarchies.