Category: social credit system

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US Representative Warren Davidson: ‘CBDC Corrupts Money Into a Tool for Coercion’

July 5, 2023

Warren Davidson, U.S. representative and part of the House Committee on Financial Services, has disregarded issuing a central bank digital currency (CBDC) in the country. Davidson explained that CBDCs corrupt money into a “tool for coercion” and detailed that there was no legal way of issuing such a currency without legislation. U.S. Representative Warren Davidson:…
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Economist Jim Rickards Warns of a CBDC-Supported Social Credit System in the US: ‘It Can Happen Here’

June 26, 2023

Jim Rickards, an economist and investment banker, has warned about the establishment of a social credit system powered by the issuance of a central bank digital currency (CBDC). According to Rickards, this combination could be used to restrict the civil liberties of Americans by limiting their capabilities to travel and their reach on social media…
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