[LINK] Central Bank Digital Currency (CBDC)

[David]

On 14/05/2023 12:42 pm, Kim Holburn wrote:
> I really don't understand the angst here.  We already have digital 
> currency.  When was the last time you paid actual cash for anything?

Probably some time in 2020!

> > Today in the United States, Federal Reserve notes (i.e., physical 
> currency) are the only type of central bank money available to the 
> general public.

Are U.S. "Federal Reserve notes" equivalent to Commonwealth Bonds?  I 
understand all Australian Government Securities are only sold by tender 
to wholesalers such as superannuation companies, which would greatly 
reduce the risk of currency instability induced by markets & forces 
beyond Reserve Bank control.

Any mention of "digital currency" may conjure up private currencies like 
bitcoin, which AFAIK have no asset backing and can be extremely volatile.

Whatever the case, direct exposure of a Central Bank to the 
unpredictable whims of the general public seems unwise to me.  But I'm 
certainly no money wizard...

_David Lochrin_