IMF Director Admits Consequences of Launching CBDCs Worldwide are Unknown

Objectivity 4,7 | Credibility 4.8 | Relevance 4.6

Managing director of the International Monetary Fund (IMF) Kristalina Georgieva warns against a widespread adoption of central bank digital currencies (CBDC) without considering potential risk factors.  Referring to the difference between wholesale and retail CBDCs, Georgieva said, “retail CBDCs, they completely transform the financial system in a way that we don’t quite know what consequences it could bring.”  The IMF is working with almost 50 countries on the issue of CBDCs, including the U.S.  Robert F. Kennedy, Jr. sent a warning on Twitter saying, “CBDCs grease the slippery slope to financial slavery and political tyranny. While cash transactions are anonymous, a #CBDC will allow the government to surveil all our private financial affairs.”  Also, certain Fed officials warn that CBDCs could pose risks to the country and that safeguarding privacy is a top concern.