Central Bank Digital Currencies to Kill Small Business By James Reed
Small businesses in Australia are under the gun, facing the recent power price hikes, with the costs of electricity and gas on the rise; electricity for example going up to 29 percent. And now, to make matters even worse, is the elimination of cash and a Central Bank Digital Currency (CBDC) for Australia, something the government and banksters are proceeding with without democratic consultation, the standard thing now for globalist measures.
As noted by George Christensen at Nation First, there are many reasons why CBDC will favour big business over small, especially on-line giants like Amaozon.com. If one’s currency is on-line, then just as in the lockdowns, people may go the next step and simply purchase online for most things. Small business relies more on face-to-face customer service for small transactions, and cash is convenient for that.
But, the main point is that there is no need for a CBDC, and its introduction, and following the debanking made of the Canadian tracker protesters is highly suspicious. People are free to use on-line entities like PayPal now. The extreme of totally eliminating cash, smacks of a conspiracy, and for that reason alone, needs the most intense of oppositions.
https://nationfirst.substack.com/p/how-cbdcs-will-be-the-death-of-small
- Central Bank Digital Currencies (CBDCs) are being implemented by governments globally, including the G20 nations.
- The introduction of CBDCs restricts individual freedoms, and harms small businesses, which are crucial for a healthy economy.
- Dominant entities like PayPal have abused their power, leading to fears that such situations will occur with the rise of CBDCs.
- CBDCs blur the lines between political and economic spheres, allowing governments to control business sectors, freeze transactions, and levy heavy fees.
- The adoption of CBDCs increases the wealth gap, favours multinational banks, and disadvantages smaller banks and creditors, resulting in the end of a truly free market.
Many Nation First readers will by now be familiar with the term ‘Central Banking Digital Currencies’ (CBDCs), which, following their ‘successful’ implementation in Communist China, governments around the world now seek to introduce.
Just over a week ago, the G20 — the top 20 nations with the biggest economies (including the United States, the United Kingdom, Canada, the European Union and Australia) — “agreed to a plan to eventually impose digital currencies and digital IDs on their respective populations”, according to NTD News.
This is somewhat unsurprising as pilots, proof of concepts, and research for the implementation of CBDCs have already been launched by most nations around the world.
In earlier Nation First articles, we already explained what the introduction of CBDC would mean for our individual freedoms.
CBDCs threaten your freedom!
19 SEPTEMBER 2022
Dear friend,
Towing the agenda of the World Economic Forum of a transition to a cashless society, the Reserve Bank of Australia (RBA) last month announced its intention to launch a new centrally managed digital currency.
According to Australia’s central bank, a Central Bank Digital Currency (CBDC) would be helping with “safeguarding public trust in money and promoting efficiency, safety, resilience, and innovation in payment systems and financial market infrastructures.”
This is, of course, a bunch of baloney.”
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