by Peter Schiff, Schiff Gold:

With the eventual introduction of central bank digital currency (CBDCs) now seemingly inevitable, there are a lot of directions central banks could take with their digital currency projects that would have dramatic implications for the price of gold.

Touted for their “convenience” and “efficiency,” the endgame of digital currencies is not only achieving greater power over the currency but also a means of surveilling and micromanaging the personal finances of each individual. Owe taxes or a parking ticket? It could be automatically deducted. Does the Fed think it needs to cool inflation? Deduct money straight from people’s accounts, or impose a daily spending limit. The possibilities for control and profit are endless, and too tempting for control freak bureaucracies and amoral tech companies to ignore.