what these ASS Hats aren't telling us is that they can't issue a digital dollar and still operate a fractional reserve banking model. If all dollars are accounted for on a public ledger then banks won't be able to counterfeit them in order to loan them out, rehypothicated 100 times over. CDBCs will fail because there is no limit to the quantity that can be created..
Quoting: Anonymous Coward 79432135 There will be no impediment to their (criminal) fractional reserve banking. Banks only use digital anyway. When they give you that $300,000 mortgage they are just typing in the numbers, there is no physical transfer of cash.
They then receive from Central Bank 9-12 times that amount for the debt they just issued. Central bank prints the cash (but it's a digital transfer not actually ink printing).
Having a digital currency will not change a thing in that regard. However Central Bank will be able to stimulate and cool the market at any time. They will use temporary expiry dates and universal basic income to balance the market. So you may very well get a 'free' $1k a month but it will expire if not used by a specific date.
Here in Asia cash is not common, everyone seems to use a wave and pay on their phone, bills all paid on direct debit or bank transfer from the phone app and even places like the dentist, a clinic, a school uniform shop all use digital payment systems.
Cheques are unheard of and you actively have to ask for a cheque book when opening a new account as they are not a common item.
