3 Lessons from the Oslo Freedom Forum: Oppression and CBDC – Booth, Song, Mezinskis
It’s time to talk about monetary oppression at the Oslo Freedom Forum. Bitcoin heavyweights Jeff Booth and Jimmy Song make an appearance and surprisingly don’t even mention the asset. However, Bitcoin is always on the mind. Because it solves all the situations they mention. The other big topic in today’s selection is CBDCs. Are you ready for prime time? The answer might surprise you.
As a reminder, this is our seventh article in this series. If you like what you read, check out the others: one, two, three, four, five, six.
With that said, let’s move on to the do-or-die information that these other crypto sites don’t even consider.
BTC price chart for 07/13/2022 on Cexio | Source: BTC/USD on TradingView.com
Table of Contents:
- Oslo Freedom Forum: Jeff Booth on printing money
- Oslo Freedom Forum: Jimmy Song on Monetary Oppression
- Oslo Freedom Forum: Matthew Mezinskis on CBDCs
Oslo Freedom Forum: Jeff Booth on printing money
“Tomorrow’s Price” author Jeff Booth tells the Oslo Freedom Forum about the evils of the hidden tax we call inflation. People don’t realize how much they’re giving, and that’s intentional. If they realized how much time they are being robbed of, there would be chaos in the streets.
“When you talk about inflation rates and everything else, know that if there is no print, what would happen to the market? And you realize that each economic decision, each one, is who can print and how much? Who can steal how much of your work? What if you had a system that looked like this, whether or not it was automated in a central bank digital currency, what would it look like? Because you give the power to monitor, to keep prices high. How labor is removed from the market. It does not mean anything.”
His conclusion is that it “doesn’t make sense,” and that’s true of all of us. For managers, on the other hand, it makes perfect sense. This is how they control us.
20/ Bitcoin author, developer and educator @jimmysong on how oppression runs deep in our current financial system: pic.twitter.com/IUsJCPtidM
— Alex Gladstein 🌋 ⚡ (@gladstein) June 22, 2022
Oslo Freedom Forum: Jimmy Song on Monetary Oppression
Author, podcaster, and bitcoin developer Jimmy Song takes over from Both and runs with him. He explains to the Oslo Freedom Forum how and why the so-called first world countries control the rest of the planet through money.
“So when we talk about this system where people at the top can extract resources from people at the bottom, it’s on an international scale. There is a reason why all these poor countries remain poor. Much of this is monetary oppression on an international scale. Organizations like the IMF, the World Bank, and even the Beat & Road initiative with China. They are all systems of oppression. This is how resources are extracted, how large countries extract resources from small countries. And it happened. And that’s part of the current financial system. So when we ask this question, is the current system sustainable? This is not really the case.
Bitcoiners are highly suspicious of these organizations, but the general population is unaware of their dirty tactics. So much so that they defend and celebrate the very institutions that keep them poor.
21/ Base money analyst Matthew Mežinskis (@crypto_voices) on the evolution of central bank digital currencies: pic.twitter.com/gXL3AGhsrT
— Alex Gladstein 🌋 ⚡ (@gladstein) June 22, 2022
Oslo Freedom Forum: Matthew Mezinskis on CBDCs
Porkopolis Economics founder Matthew Mezinskis explains the conflict of interest that CBDCs present at the Oslo Freedom Forum. While they may be good and convenient for central banks, CBDCs would bring down the banking system as we know it.
“All central banks know this and all research papers on CBDC say so. If we start to have the banking system “Oh, it’s great to have these CBDCs.” It works better than cash, it works better than my credit card, it works better than PayPal or whatever. And we’re starting to empty the banking system of deposits and people don’t have deposits, but they’re starting to have CBDCs with the central bank. In fact, it’s horrible for the profitability of banking systems, and central banks are definitely socialist and like bailouts, but not communist like money.
However, according to Mezinskis, banks and governments are working together to iron out the details of this new technology. If you want total control, and you do, there are a few things you need to understand.
“They like to be there to protect the bankers. So they know that if you’re draining deposits from banks, and it’s just going into a central bank’s CBDC currency, you can’t lend, you can’t lend. So it’s a problem for the banking system. So they’re trying to find out right now. The common solution is that there will be limits, perhaps the equivalent of $1,000 for each CBDC account. They try to understand these things.
What is the only country in the world that could currently implement CBDC? you guessed it…
“It’s going to be awkward. In my opinion, it will take years and years and years. The only country right now that maybe has the ability to overcome some of these problems is a communist country like China, which is huge, it’s a giant. And they are already planning it. That is a great danger, that is the landscape of what is happening right now, with CBDCs.
And that’s all for this meticulous edition of the Oslo Freedom Forum. Join Bitcoinist next time for the eighth and final issue.
Featured Image: Screenshot of Song and Booth from this video | Charts by TradingView
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