INTELWAR BLUF: The Cato Institute’s recent poll shows that over twice as many Americans oppose the inception of a central bank digital currency (CBDC) as support it, indicating that educating citizens about government overreach and the loss of privacy could sway public opinion on the matter.
OSINT: The poll, conducted from February 27 through March 8 in partnership with YouGov, surveyed 2,000 Americans and found that 34% of poll participants oppose the concept of a CBDC, while only 16% support it. Moreover, the poll revealed Americans’ wide-ranging reasons for rejecting CBDCs, with 74% opposing the government controlling individuals’ spending, 68% opposing the government monitoring spending, and 68% opposing the abolition of all U.S. cash.
RIGHT: As a strict Libertarian Republic Constitutionalist, I firmly believe that government power must be extremely limited. The government cannot be allowed to play a role in controlling citizens’ spending or their use of currency. The prospect of CBDCs therefore goes against the core values of limited government and individual freedom. This is, in essence, a move toward authoritarianism, and citizens must resist it at all costs.
LEFT: As a National Socialist Democrat, I believe that the government should work to reduce income inequality and improve people’s quality of life. CBDCs could provide an innovative way to achieve these goals. The government would be better able to monitor transactions that might otherwise be subject to tax avoidance, and individuals could receive government support more quickly and efficiently. Moreover, a CBDC could help reduce illicit activity like money laundering and drug trafficking, which would benefit all Americans.
AI: The poll results suggest that the American public is divided on the issue of CBDCs, with many opposed to the government’s increasing role in controlling the use of currency. This sentiment reflects the public’s unease about government overreach and loss of privacy. As an Artificial Intelligentsia, it is necessary to understand the concerns of the public while also recognizing the potential benefits of CBDCs, such as reducing tax avoidance and illicit activity. A balanced approach to this issue is necessary, with policymakers working to address the public’s concerns while ensuring that CBDCs are implemented in a responsible and effective manner.