2 months ago 2 min read

ECB President Talks About Starting CBDC To Have More Control

ECB-CBDC-Volodymyr Zelensky-ukraine-bitcoin

With European Central Bank (ECB) President Christine Lagarde announcing in a video that a digital euro will be "decided in October," the covert goal of promoting central bank digital currencies (CBDCs) has reached a breaking point.

Which greatly increased social media attention. In it, Lagarde defended the switch to a digital euro by stressing that she does not want the EU to be dependent on a friendly currency that is activated by a private corporate organization or depending on a friendly currency that is activated by a friendly country but dependent on a friendly corporate company. She gave Facebook and Google as examples.

Although she did not specify how the digital euro CBDC would circumvent current payment systems, all transactions would be routed through an ECB-controlled ledger because it is a closed-loop system.

If implemented, the continent would transition to a hard digital currency system, further restricting its current paradigm of cash expenditure and transfers.

The original material for the movie was a fake tape from March 17 on which Christine Lagarde appeared to speak more candidly than usual because she believed she was speaking with Volodymyr Zelensky, the president of Ukraine.

Unexpectedly, the interviewer followed up with a question regarding a potential future job. Lagarde replies with a crooked grin, "I bought it (Bitcoin) when it started - I hope it... works as well."

Lagarde also addressed the instability that occurred in France about ten years ago, attributing it to a small number of anonymous credit cards that supported terrorists. She acknowledges that the digital euro might not have a mechanism to prevent small-scale financing (i.e., 300–400€), but she continues to accuse fiat money of supporting terrorists, which is why the ECB tightened control.

Lagarde's comments, particularly her assertion that a digital euro will allow for more control over people and payments, have enraged the crypto community.

Whatever happens next, the background and motivation are now clear. The countdown to the introduction of the digital euro has started.

In July 2021, the ECB began a two-year study on the digital euro, and has since kept the public informed of its findings.

European nations might only have a few months before the current fiat money paradigm undergoes a significant shift.

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