The world-famous whistleblower from the US, Edward Snowden, has taken to Twitter to bash the concept of central bank digital currencies (CBDCs) and in particular the one that the Fed Reserve may launch in the future.
Snowden believes that if the Fed Reserve issues a CBDC (the so-called “FedCoin”), it will be used for bringing the savings of ordinary working Americans down to zero, despite officially calling it a “useful policy tool”.
The whistleblower tweeted this after sharing a screenshot of a NYT article about CBDC. In it, a Dr. Prasad wrote that the Fed may impose a negative interest rate on electronic balances of CBDC in every person’s account to stimulate the owner to spend CBDCs faster and for companies to invest their digital dollars.
