Over the last several years, nations around the world have been exploring—and even implementing—digital currencies. This includes the United States: In March 2022, President Biden signed Executive Order 14067, requiring the government to assess, among other things, the risks and benefits of creating a central bank digital dollar. However, this new financial landscape has many critics concerned about individual privacy.
“A digital currency could allow governments to track every transaction a person makes, no matter how minute. This level of transparency would be a powerful disincentive to using these currencies for crime or fraud, but it could also open the door to new kinds of social control, especially in countries with already-scant protections for human rights.”
—The Wall Street Journal, January 16, 2023
What is the current state of the world’s digital currencies, and how might a U.S. central bank digital currency affect your privacy and portfolio?
Click on the video link below for exclusive Executive Insights on this topic from U.S. Money Reserve's Coy Wells.
Related headlines from around the web:
- The Wall Street Journal: “Central Bank Digital Currencies Are Coming—Whether Countries Are Ready or Not”
- Foreign Policy: “A BRICS Currency Could Shake the Dollar’s Dominance”
- CNBC: “Gold heads for best week in five on Fed rate pause bets”
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Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied. Your use of the information provided in this commentary is entirely at your own risk. In no event will USMR be held liable for any indirect, special, incidental, or consequential damages arising from the use of information contained in this commentary.
