Sometimes The Heritage Foundation (my former employer) gets it very wrong! This is foolish scaremongering and hysteria!
We have accepted for thousands of years that governments issue legal tender generally known as money. So why not digital currency?
Yes, governments abuse currency and money by stoking inflation, running excessive deficits, currency devaluation etc. They have done this in the past and they will do so in the future irrespective of the type of currency. Perhaps, better oversight by the legislature and more responsible voting by citizens would help!
Of course, as a classical liberal I would prefer private money over government issued money, but maybe it is still not the time for that.
"KEY TAKEAWAYS
- Imagine if a bureaucrat had the power to limit your savings or place a "shelf-life" on money you earn.
- Imagine the government creating dollars that can only be used for food, thereby dictating to you how much of your income can be spent that way.
- Bureaucrats could turn down people for loans based upon things other than their likelihood of repaying. Are you not woke enough? Then no mortgage for you.
... "
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