Are CBDCs Financially Inclusive; Or Are There Other Tricks?

Central Bankers often emphasize that the Central Bank Digital Currency (CBDC) is an excellent tool for expanding access to financial systems.

This is certainly not the right approach. This is because CBDCs are designed to fully cover people's daily life transactions under surveillance, rather than financial inclusion. And therein lies the real issue.

It is doubtful that CBDC, which purports to provide a safe and easy payment method for people who cannot or do not want to access traditional banking services, will deliver on this promise. People excluded from the financial system lack trust in the mainstream financial system, often due to a lack of available options or geographical barriers. They either live in poverty or lack the resources to engage with the financial system. There are concerns that the CBDC may exacerbate financial exclusion rather than provide solutions to existing problems.

Assuming that CBDCs will increase financial inclusion is as unrealistic as thinking that a coffee machine will first grow its own coffee beans. Addressing financial exclusion requires steps beyond digital money, which is like adding quality coffee beans to the coffee machine in addition to providing water and electricity. CBDCs should be considered alongside the fact that they are designed to contribute to financial inclusion in debt and interest-based money lending systems. Supporting cash-dependent individuals can be made possible by providing access to digital money infrastructure, offline transactions and user education.

• Currently, it is not understood why access to digital currency infrastructure, offline capabilities and user education is not working. How can Central Bank Digital Currencies (CBDCs) improve this situation?
• If we want to spread financial services that are not based on debt and interest to a wider audience, and this is considered a good idea, why wait?

While the term 'financial inclusion' is often used by central bankers and traditional economists to justify Central Bank Digital Currency (CBDC) projects and reassure the public, this is not the case for CBDC supporters. For them, the diversity, flexibility and choice that this new currency brings is fantastic.

Many seem to have boarded the Titanic ship that has been dubbed 'financial inclusion'. Some, like By Kensey, argue that central banks should dominate money and credit and collect and display data that captures the heartbeat of trade. So what they are saying is that the more 'financial inclusion' the better...

The term "broad financial inclusion" is based on a very simple principle: If an authoritarian leader wants to win the love of the people, he must present himself as indispensable. This requires setting up a system where financial transactions take place and resources are transferred in a way that appears to benefit the citizenry.

Although the concept of 'financial inclusion' has its exaggerated and deceptive aspects, given the fact that global financial elites need to have control over money in order to control people, integrating more people into the financial system through the implementation of CBDCs should be considered in depth, taking into account the potential harm to humanity.

Let us emphasize once again;
Rather than financial inclusion, CBDCs are designed to fully monitor people's daily transactions and movements under any kind of surveillance. And this is exactly what they are all about.

In this short article, we aimed to assess from a different perspective what is needed worldwide to adopt a debt and interest free domestic CBDC. Our recommendation is to emphasize that instead of waiting for the miracle of CBDCs, it is high time to build a money and credit financial system that is not based on debt and interest.

Whilethis article addresses critical issues that every individual who values human dignity and freedom should be aware of, it is not to create the illusion that the global elites and their collaborators around the world are "invincible". On the contrary, it is to expose the fact that they will never achieve their goals against humanity, such as the " Great Reset", unless people allow them to do so.

Sadi ÖZGÜL

Guwuste.com
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