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Mexico's Central Bank Will Launch Digital Currency by 2024 (bloomberg.com)
Posted by msmash on Thursday December 30, 2021 @11:50AM from the up-next dept.
Mexico's central bank will have its own digital currency in circulation by 2024 as part of efforts to boost financial inclusion. From a report:
"These new technologies and next-generation payment infrastructure are extremely important," the federal government posted late Wednesday on its Twitter account, confirming the bank's plan.
https://www.bloomberg.com/news/articles ... cy-by-2024

BrianC wrote:...central bank will have its own digital currency in circulation by 2024 as part of efforts to boost financial inclusion.

Such statements are easy to decode. You look for the key word, "inclusion" in this case, and invert it. Ergo the new system's purpose is to exclude anyone they consider a criminal, a subversive, a free thinker no doubt. I have used cash all my life and never felt excluded, aside from a few encounters with corporate entities during the early stages of the covid agenda. They tried to push a contactless trade on me, under the guise of health and safety, but I quoted the law to them.

One funny encounter I had was at the supermarket where the oh so intelligent checkout "technician" was furiously spraying the counter with disinfectant. I dropped a $100 bill into the the puddle she'd made, turned it over a few times and presented it saying "It's all good now, fully disinfected" She glared at me like I had dropped a fart, her simple little brain simply couldn't connect the dots between the supposed germs on the plastic counter and the supposed germs on my plastic $100 bill.

This is what we are up against folks, an army of idiots, and this forum has its fair share too.
https://www.youtube.com/watch?v=ww47bR86wSc

Thats a funny story, lucky, about dropping the $100 bill into the puddle of disinfectant.

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Personally, I don't understand who would buy a digital currency based on the Mexican peso?

I don't understand why things like Bitcoin are worth so much money, considering they are based on nothing....

But a Mexican peso is worth less then nothing.....its value does down every year.

Wouldn't a Mexican digital currency based on the Mexican peso also go down every year?


Hey Gringo! I sell you digital peso now!! Very good deal!!!!

Cheers!

Plantagenet wrote:Thats a funny story, lucky, about dropping the $100 bill into the puddle of disinfectant.

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Personally, I don't understand who would buy a digital currency based on the Mexican peso?

I don't understand why things like Bitcoin are worth so much money, considering they are based on nothing....

But a Mexican peso is worth less then nothing.....its value does down every year.

Wouldn't a Mexican digital currency based on the Mexican peso also go down every year?


Hey Gringo! I sell you digital peso now!! Very good deal!!!!

Cheers!

All CBDC's are massive surveillance and control systems, disguised as money. They are inherently flawed due to their centralized nature. Even China's population has a massive distrust of the e-wan, so much so, that China is now questioning it's move to try and ban crypto.

Actually, China's recent ban on Bitcoin and Bitcoin mining proved to be a blessing, by further distributing mining throughout the world. China used to mine over 50% of the bitcoin, their ban helped increase mining in the US and other crypto friendly countries, increasing the security of Bitcoin.

Mexico will probably end up taking the same path as El-Salvador and adopt a decentralized currency to meet their unbanked needs.

Eventually the US will follow suit and use a 100% dollar backed stable coin (not controlled by the US), as the worlds reserve currency. Hopefully before 2024.

Peace and welcome to WEB 3.

careinke wrote: China's recent ban on Bitcoin and Bitcoin mining proved to be a blessing, by further distributing mining throughout the world. China used to mine over 50% of the bitcoin, their ban helped increase mining in the US and other crypto friendly countries, increasing the security of Bitcoin.

I've heard there is still quite a bit of hidden bitcoin mining going on in China. Its just too lucrative for people there in spite of the CCP ban in China.

careinke wrote:Mexico will probably end up taking the same path as El-Salvador and adopt a decentralized currency to meet their unbanked needs.

Perhaps, but Mexico is basically a highly centralized socialist country, with a nationalized energy sector and state control over much of the rest of their economy.......thats why their economy is to screwed up.

Given the centralized, socialist nature of Mexico's enconomy, I'm skeptical that they would decentralize anything.

careinke wrote:
... the US will follow suit and use a 100% dollar backed stable coin (not controlled by the US), as the worlds reserve currency. Hopefully before 2024.
Peace and welcome to WEB 3.

You're way past me with these predictions and very interesting ideas.

I'm so skeptical of the Biden administration I can't see them doing anything constructive or intelligent, so I'll be very surprised if they move the US to a "stable coin" as you are suggesting.

Judging from what they've done so far, it seems to the goal of the Ds is to trigger off massive inflation as a way to devalue the dollar and impoverish the US middle class.

AND I'm assuming the Ds will continue with their current stupid policies until they are forced from office.

Cheers!