
Central Bank Digital Currencies (CBDCs) are facing significant criticism for potentially increasing government control over financial systems. Critics, including author Efrat, argue that CBDCs, described as 'Fiat on steroids,' could undermine individual rights and the free market system. In Thailand, the government is using CBDCs as part of its fiscal policy to stimulate the economy by airdropping free digital currency to 50 million low-income earners. This move has sparked concerns about the creation of fresh fiat money and the potential for economic manipulation. Representative Mark Green has voiced strong opposition, stating that CBDCs are entirely controlled by central banks, such as the Federal Reserve, and pose a threat to privacy and individual freedom. Green also emphasized that CBDCs will 'solidify government control' over money.



From start to finish, a CBDC is controlled by a central bank like the Federal Reserve. Allowing this much control over our daily lives puts our country on a real road to serfdom. https://t.co/TG6VS2Er6F
Claiming that a CBDC can be designed to protect privacy is like claiming a surveillance state won’t abuse its power—it's absurd. https://t.co/I2qnf1zaBx
A central bank digital currency (CBDC) isn’t just a currency - it’s a method of payment, a method completely controlled and observed by the government. /1