Lots of tweets about EU announcing a CBDC by October. What currency is going to get inflows from the people who are against this? The $? Gold/silver? Bitcoin? Or do you think the people will just accept it 100%?
Not fake. October IS launch date, but adoption decision not till Nov. Wholesale will say yes, and suspect retail rollout will be by stealth. Can't help feeling this will end up being a way of creating some magic money tree to pay for all the new defence budget they don't have. Money flows to USD and bricks and mortar is my best guess but impact likely years away.
What about the average persons cash balance in their checking account? Where will they move it to circumvent CBDC? I know that I’d convert to BTC but I’m not average. Grok told me that EU citizens have about 11 trillion in uninvested cash accounts at the moment.
Most won't do diddly squat. They've already said they'll be a low cap for consumers for digital euros, something like 3000 from memory. Then bit by bit they'll increase / convert. Boiling frogs come to mind. Some will definitely move to BTC but suspect MiCA 2.0 will put a stop to any serious flights of capital if it does start to alarm the wider public. MiCA has helped BTC rather than hindered it to date but not to say they can't strangle it with further regs. So sticking with USD and assets. My crystal ball might be cracked though.
LaGarde & Von Der Leyen are determined to crash the EU & the Euro. More unelected dictators to rule over Europe. GTFO of the Euro while you still can! Gold, Bitcoin & the USD should skyrocket.
Dictators? That's what the Commies call them, saves the imprisoned peeking over the wall. You don't want to align yourself with them. LaGarde and VDL both want what's best for Europe, and given 130 countries are now hell bent on creating CBDCs, China is galloping ahead. If you don't, you're screwed long-term. USA has a free pass because dollar dominance. The real problem is debt. We're in a debt crisis. America and Europe are drowning in debt. CBDCs will put the framework in for CBs to take control over fiscal policy. Currently illegal. Currently far from their minds. But one massive drawdown like on defence could easily push them to change the rules. USA isn't safe either. There's no CBDCs, but creation of a crypto reserve is a handy insurance policy in case of capital flight. what's legal today could become illegal tomorrow and confiscation begins. All this has happened before, and will happen again. Just with new tech and fancy terms.