What is CBDC? (Central Bank Digital Currency)

[Recorded and originally posted on YT in May 2022] In this video I describe CBDCs (central bank digital currencies) and outline their pros and cons. I conclude that there is no justification for the Federal Reserve to adopt a CBDC dollar, and that in fact a CBDC is extraordinarily dangerous.

Timecodes:
0:00 - Intro
2:40 - Thesis: CBDC is Extremely Dangerous
5:15 - Basic Description of CBDC
10:55 - Difference from Digital Bank Money
16:17 - What about a Fedcoin?
20:12 - Supposed benefits of CBDC
29:52 - Competing with China through CBDC?
35:40 - Dangers of CBDC
47:42 - Impact of CBDC on Commercial Banks
51:33 - Conclusion
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Dr. Jonathan Barth received his PhD in history from George Mason University in 2014. He specializes in the history of money and banking in the early modern period, with corollary interests in early modern politics, empire, culture, and ideas. Barth is Associate Professor of History at Arizona State University and Katzin Family Associate Director of the Center for American Institutions at Arizona State University.
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Visit my website https://www.professorbarth.com/
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Disclaimer: The views and opinions expressed on this channel are my own and do not reflect the views of Arizona State University, nor are any of the views endorsed by Arizona State University.