RE: The Federal Reserve CBDC Report
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I believe, based on history, that governments can't create anything that is good. They can, at best, protect people from violence and thus enable them to create their own prosperity. At worst, they can be the violence that prevents prosperity. To use a metaphor my Granny used often: "I don't trust them any further than I could throw them." !BEER
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The government specializes in taking specific market innovation, creating its own version, and thereby corrupting it in the process as a result of bureaucratization and politics. Whether its education, health care, money, etc., the government as one article on Cafe Hayek states has the "Sadim touch," the exact opposite of Midas touch. As we know, the touch of Midas turns everything into gold whereas the "Sadim touch" ruins everything.
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I agree they cannot create anything as good. What they can, in theory, do is to eliminate the competition. They effectively can generate a monopoly for themselves. That is what they excel at.
Like Elon Musk says, the US government is nothing more than a monopolistic corporation.
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