EP 2885 6PM WORLD GOV'T SUMMIT ANNOUNCES END OF CASH LAUNCH OF "CENTRAL BANK DIGITAL COIN"

EP 2885-6PM WORLD GOV'T SUMMIT ANNOUNCES END OF CASH & LAUNCH OF "CENTRAL BANK DIGITAL COIN"

Discussing a new digital age where every single financial transaction will be documented on the blockchain, economist Pippa Malmgren told attendees of the World Government Summit 2022 that the age of the Central Bank Digital Coin, or CBDC, is upon us.  “What underpins the world order is always the financial system,” Malmgren said, explaining she grew up with a fundamental understanding of the role monetary systems in our everyday lives.   “I was very privileged. My father was the adviser to Nixon when we came off the gold standard in ’71, and so I was brought up with a kind of inside view of how very important the financial structure is to absolutely everything else,” Malmgren said.   “And what we’re seeing in the world today is I think we are on the brink of a dramatic change where we are about to – and I’ll say this boldly – we’re about to abandon the traditional system of money and accounting and introduce a new one, and the new one – the new accounting – is what we call blockchain.”  “It means digital,” she continued. “It means having an almost perfect record of every single transaction that happens in the economy, which will give us far greater clarity over what’s going on.”  Of course, governments having the power to observe a person’s transactions could also enable the government to control what, or whether, a person can, or can’t buy.
Special Guest:  WI Gubernatorial Candidate Tim Ramthun https://legis.wisconsin.gov/assembly/59/Ramthun/
 
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