Research Fellow at the Cato Institute's Center for Monetary and Financial Alternatives and Fellow at the Human Rights Foundation. Covering CBDCs, financial privacy, and cryptocurrency. Opinions are my own.
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2026-06-15T22:10:35+02:00 Event JSON
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Last Notes npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Rep. Hill: How much money have you recovered? npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I've got a quick explainer here! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Everybody is saying it https://blossom.primal.net/e5a485a3c665aa7fef822f039616719e28f86ba031e30610fe106fa23618c89a.png npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Pretty much. In Europe, the central bank is trying to make the CBDC intentionally bad so people don't use it. In America, the commercial banks want legislation to make stablecoins bad so people don't use them. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick If you have to intentionally "reduce the attractiveness" so your CBDC doesn't destroy the economy, maybe it's just a bad idea in the first place. https://blossom.primal.net/046ee2e3047946e2b87a504f60c7bdfe66817f54fcea3ee87506b88686374e23.png npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick South African Reserve Bank deputy governor Rashad Cassim recently reiterated that while a retail CBDC was technically feasible, there was no compelling case for introducing one. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick The best npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Team work makes the dream work. I'm sorry you have to go through this, but you have many friends here, Craig! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick It's honestly sad that she wants this to be her legacy. At best, a complete waste of time, money, and energy. At worst, a tool of authoritarian control. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Around the globe, governments want CBDCs because they want to shut down the rise of bitcoin, stablecoins, and other cryptocurrencies. https://blossom.primal.net/b0d3ee94a91db405630db14c2968a751649e70a8fb0d6813a0d988d670799a2f.png npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick ECB's Lagarde pressures Parliament to support the digital euro ahead of tomorrow's vote while saying she's not pressuring them. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Wow! I just noticed I have nearly 1,000 followers on here. Ya'll are amazing. At this rate, I'll have more on here than on X soon. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Everything central bankers have said a CBDC will do: npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Yes. The BIS and other central banks call say that Project Agora focuses on tokenized central bank reserves. But at the end of the day, that's effectively a wholesale CBDC. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick You shouldn't have to learn the money has changed on the evening news. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Congress sent me follow-up questions after I testified against the Bank Secrecy Act. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Thank you for the flag! I've yet to visit Spain npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Thank you, Myriel! That is so kind of you to say. I had a blast and look forward to next year already. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Thank you, Myriel! That is so kind of you to say. I had a blast and look forward to next year already. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Ah, no. The map is the HRF CBDC Tracker, not my travels. I just realized that wasn't clear from my post. I really want to visit, though. It's on my bucket list. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I spoke there twice last year and had so much fun. I'm hoping I get to go back soon. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I've now been to 17 countries in my quest to raise awareness about CBDCs and financial privacy. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Nice. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Haha thank you!! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick ZEUS! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Always a joy to see the legend that is @npub1spd…q6j7 npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I am in Prague with Gary Becker's "In Prague." npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Dobrý den from the depths of Prague! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Governments are increasingly recognizing that financial control is invisible control. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Authoritarians are using CBDCs—programmable money that can be turned off in an instant. They are amassing vast networks of surveillance. And they are investing more money in control than ever. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick A crucial reminder at the @npub17xv…c9as Oslo Freedom Forum. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick “I used my platform to call out the criminal government,” says Steven Kefas at the @npub17xv…c9as Oslo Freedom Forum. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick The @npub17xv…c9as Oslo Freedom Forum opens with a million dollar speaker. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I have to admit. I really didn’t expect the support I’ve gotten for my testimony against the Bank Secrecy Act. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick CBDC sales pitch of the century coming from the Central Bank of Ireland. /s npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Thank you! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick FinCEN is busy telling banks how to comply with the law while it is actively breaking the law. https://www.cato.org/blog/reporting-fincens-suspicious-activity-2026-edition npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick The Fourth Amendment does not expire with inflation. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Much love! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I’m going to have much to say about that one… npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Thank you! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick @npub1key…lt3h does bitcoin pizza day right. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Did I hold up the Constitution to Congress? Yes. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Thank you! I’ve been so swamped putting out fires. This is a great reminder that I need to take my fatf report off the back burner npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Fair play. I was speaking from the perspective of citizens. But you're right. Authoritarians love it for a reason... npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I'm testifying today. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Thank you, my friend! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick It's abused by authoritarians. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Central bankers are cracking. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Fair play! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Very pleased to share that I'll be testifying before Congress this Thursday on how the Bank Secrecy Act has failed! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick ECB board member Piero Cippollone has already given 9 speeches and 3 interviews on the digital euro this year. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Next year! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick The HRF CBDC Tracker has it all: countries, currency unions, territories, and more. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Again and again, central bankers openly say that CBDCs will bring the end of cash. https://www.cato.org/blog/will-cbdcs-mark-end-cash npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick If any friends live in the West African Monetary Union, the central bank is looking for CBDC research. The prize money is all yours, but I'll happily help with your research. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Interesting... The ECCU stresses that it wanted to run “not just conduct a pilot but to run a live deployment” with “real money” and “real users” in “real time.” npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Want to work at the Cato Institute but don't see a job listing that fits your work? npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick One of the most egregious pieces of the Bank Secrecy Act is how Congress has defined "financial institution" to include an ever-growing list of pawn shops, car dealerships, and even the postal service. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Nostr really is a magical thing. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Exactly. And that was one of the big problems I had. The example started from the baseline assumption that "the bad guys are bad." npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Fair play! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Agreed. It's basically come to mean "people I don't like" npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick There were so many other things I wanted to say... I was still trying to be on my best behavior at this point, though. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick The Deutsche Bundesbank says it needs a CBDC because Visa and Mastercard "could be turned off upon instruction" by the US government. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick In a room full of law enforcement, I was the only person to raise my hand when former FinCEN director Bill Fox asked if anyone "actually believes" bad people deserve privacy. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick What you see as you leave after EU officials deny your information request. https://blossom.primal.net/251e87e8666dd7414e9d2ab9bc2d32552f516c3be50f04654ec1ca35a9df61c7.png npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Another government entity refuses to tell me what its CBDC plans are. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick America has increasingly moved in favor of legalizing cannabis consumption, but the shadow of prohibition still hangs over even the freest of states. One need only look to the financial system to see how heavy that shadow truly is. https://www.cato.org/blog/considering-safe-banking-cannabis-industry npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I didn't exactly expect much, but good grief... npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick One of the saddest things about this experience is that most people have no idea how much capital gains can take from you until they get hit hard by it. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I’m with you npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Preach npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick hahhaha I know. I was cracking up when I heard that bomb drop npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Imagine every swipe of your card turning into a tax form. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick What's the big expected result of the Bank of Korea testing its CBDC? npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Never a dull moment at Pubkey npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick They could do just about anything else and be a better net on society. Instead, they spend their days throwing up roadblocks for the people trying to better the world. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Excited to finally attend BTC Prague, and as a speaker no less! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Absolutely wild exchange. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick See you there, my friend npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick In other news, I’m suing the government for covering up its plans to create a central bank digital currency (CBDC). https://www.cato.org/blog/why-im-suing-government npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick How do central bankers consistently get history wrong? Is it ignorance or lying? npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I'm incredibly proud to announce the Activist Atlas. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick 24 is my favorite, but yes. Preventing alternatives has been the driving force behind CBDCs for the longest time. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick In other news that reads like an April Fool's joke but isn't... npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick No, this is not an April Fool's Day joke. This list really is everything policymakers claim a CBDC will do. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick What should be done about stablecoins? The Reserve Bank of India says governments need to promote CBDCs. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Had similar happen but I learned I was flagged for suspicious activity. Can’t imagine what that means since I only used subreddits on diy synthesizers. Only reset option was full KYC so I just stopped using it npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Well, that's sad. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick "The moment you onboard a customer, the clock starts ticking---not just toward periodic review, but toward every transaction, every change in behavior, every event that shifts risk." https://blossom.primal.net/d5582153fce50b2e01b0a62a16d363b494610ea2f71ef00962ff4a2580a08b65.jpg npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick An important point to add here: Lagarde argues that the digital euro can be used to evade US sanctions. She describes the importance of individual sovereignty in this example, but the digital euro would _not_ provide individual sovereignty. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Ohhhhh, I see now. Thank you. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I’m not following. Where are you saying should be “states”? npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I'm surprised no one has noticed this... but the ECB is openly touting that the newest use case for the digital euro is sanctions evasion. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Well, I guess that settles that. https://blossom.primal.net/8706c684553b180cfff63e170f29cd1d442858b0ee13cebd185bbf64e9d0987f.mp4 npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Allow me to translate this ECB paper from academic to plain English: npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick One like = one prayer for central bankers npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Forget financial inclusion, monetary policy, and modernization. Now, CBDCs are about preventing discrimination against central bank money. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Your bank may soon call asking you to prove your citizenship if this executive order goes through.
