Keep Cash Alive! Stop the CBDC!
Keep Cash Alive! Stop the CBDC! Petition.
Something’s happening that could change our financial future forever.
In September, Australia’s Reserve Bank (RBA) wrapped up a pilot for a Central Bank Digital Currency (CBDC), a highly controlled, digitised version of the Aussie dollar they’re calling the eAUD. With this eAUD, the government could monitor every financial transaction you make, and – worse still – restrict where, when, how and on what you spend your own money.
They’re talking about this as if it’s the future of money in our country. And at the same time, banks are either closing down their local branches or removing cash from their local branches. It looks like they’re trying to push us towards a cashless future.
Remember the Optus outage earlier this month? Having EFTPOS systems down in many stores caused absolute bedlam. Shop owners everywhere were screaming “Cash Only!” It was a stark reminder that cash is king, and a cashless future could be chaotic.
These aren’t the only reasons why a CBDC is a bad idea for the future of finance in our country. Experts have pointed out that, if cash is replaced by a CBDC, negative interest rates become easier to implement. Instead of your savings growing, they get whittled away.
And while we’ve already pointed out the risk of government control with a CBDC, it’s worth noting that having just a digital dollar and no access to cash makes it easier for the authorities to cut off your money supply. Remember when the protesting Canadian pro-freedom truckers had their accounts frozen by the banks on the orders of their Prime Minister Justin Trudeau? Imagine that happening here, with no cash to fall back on.
But if enough of us stand up for the retention of cash and push back against the imposition of a controlled digital dollar, the RBA might abandon the idea, or the government could step in.
If we don’t win, a CBDC could replace cash throughout Australia. That would mean more control for the government and multinational corporations, and less privacy for us, but if we win, our financial freedom remains intact.
Make no mistake. This is a fight for freedom. And we need as many signatures as possible to make a difference!
