Max Keiser Speaks At Labitconf Bitcoin Conference in El Salvador

Bitcoin evangelist Max Keiser got up on stage today at the Labitconf Bitcoin Conference in El Salvador to chat about the role central bank digital currencies (CBDCs) might play in the monetary future of our society and the associated implications for Bitcoin. The panel, moderated by Bitcoin Magazine’s journalist Aaron van Wirdum, was live-streamed for those who couldn’t attend the conference in person.

“CBDCs are just a re-creation of the current fiat money system, except they make it worse,” Keiser said. “It’s totally centralized and it gives the state greater powers of surveillance. The ability to save money will be gone.”

Keiser went on to explain how CBDCs could enable too much power for central banks and governments, ultimately hurting the privacy and freedom of individuals around the world. The Bitcoin bull posed questions as to whether such developments by central banks that create “a digital representation of the fiat currency,” as explained by van Wirdum, are in the people’s best interest.

“If states cared about people, they would stop debasing the currency; they would not keep interest rates at zero; they wouldn’t allow crooks to have a business model where they get to keep 90 cents of every dollar they steal,” he added.

Source link Bitcoin Magazine

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