“Another significant development on the horizon is our digital euro. We are in the preparation phase and we are expecting European legislation,” she said. “Once that is done, we will decide whether we move forward with developing a digital form of cash.”
Lagarde wished those who watched her video a “very, very great start to 2025.” Well, the ECB’s aspirations, as she described them, begin the year on a very, very bad note and in wishing Europeans well she is speaking with a forked tongue. Take for example the two blatant lies Lagarde told in her message.
Firstly, they would not be legislating for a digital euro if they were not intending to “move forward” with the agenda. So, it’s not a case of deciding “whether” to move forward but rather the decision has already been made.
Secondly, CBDCs are not a “digital form of cash.” They are tokens which can be programmed to be used only for certain items or services and to expire – much like a gift voucher system which retailers use. Vouchers are for a specific amount to be used on specific items or in specific retailers and expire within a specified time; the retailer’s rules and conditions apply. It is because of the programmable and centralised nature of CBDCs that they will be used to control who can buy or sell what, when and where; the central bank’s rules and conditions will apply...<<<Read More>>>...
