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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npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr Profile Code
nprofile1qqsf4dnexgne40djtcpacafxfz6sdemlzsyhr9clm9e7q86cgksmrmqpz3mhxue69uhhyetvv9ujuerpd46hxtnfduq3yamnwvaz7tmsw4e8qmr9wpskwtn9wvup5d26
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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 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 The best 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 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 A crucial reminder at the @npub17xv…c9as Oslo Freedom Forum. 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 The Fourth Amendment does not expire with inflation. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Much love! 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 I'm testifying today. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Thank you, my friend! 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 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 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 I’m with you npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Preach npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Imagine every swipe of your card turning into a tax form. 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 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 "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. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Bank of Albania governor says it is "essential to remain aligned with European processes" when asked if Albania will have a CBDC. https://blossom.primal.net/a2a2d1046694664270a672a07473e6dcb9a64160658db0eb3ee2686406a64050.png npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick It looks like Trump is joining Secretary Bessent in calling for more financial surveillance... npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick That's going to be a no from me. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Interest payments have dominated the market structure debate. In the process, too few have really taken note of the financial surveillance buried in the bill. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick You'd think someone previously convicted of misusing public funds would be more careful about this sort of thing... https://blossom.primal.net/2bb5ace436164f7917d3a33cda55a3564232529db9dc40373d74cf08b42ac202.png npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick For once, the ECB gets it right. Despite countless speeches saying a CBDC is needed for the euro's international role, it doesn't even make the list of important factors. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Under the Bank Secrecy Act, one of the most common reasons for filing a suspicious activity report (often abbreviated as SAR) is because someone deposited or withdrew nearly $10,000 in cash. That’s all it takes for you to get labeled as “suspicious” in an official report to the government. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Yeah, there are two sides and both drive me mad. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Am I the only one who finds the royal we frustrating? npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Oh weird, I could have sworn it was working when it went up. Thanks for flagging! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Roses are red, npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Many such cases npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Ahhh so this is what politicians meant when they said “shadowy super coders” npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick After hearing opposition to the digital euro, MEP Lukas Sieper suggests that cash is only for criminals so the EU needs a CBDC. https://blossom.primal.net/e0ecff7685043c055840e40a51a8b6ed24b3ed93e664c00c768523232845048e.mp4 npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick LIVE NOW: ECB President Christine Lagarde says cash can't be used online so Europe needs a CBDC. https://blossom.primal.net/c2aed3be57995c6cd96927055e20cfcee09c9775f8c29054f64dc945021b4306.mp4 npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Update: The head of the Banque de France is stepping down. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick That is the silver lining here. Maybe people seeing officials acting like children will make them realize that the government shouldn't have so much power. The might be too optimistic, but I'm keeping my fingers crossed. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Fair play. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Me too. Or at least a stunt. I didn't realize they were actually going to go through with it. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Apparently this is a hot take, but no party should be using gerrymandering to artificially draw lines and cut off voices of the other party. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick 10/10 No notes npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick There are two paths. Choose wisely. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Responding to my work, Treasury Secretary Scott Bessent says, "I don't read the Cato Institute, but I do believe in financial surveillance" npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Oh it can be… npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Live Now🔴: Christine Lagarde of the ECB says it is “vital” to “rapidly adopt” the digital euro. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I guess it shouldn't be surprising that two members of Congress who tried to create a CBDC also oppose strengthening financial privacy. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Ratio the White House side quest: Complete. https://blossom.primal.net/7f864f7329dbf057f038d23402538951b77e6c9f825ce01bff07a8dc651a2506.png npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick There is nothing better than seeing a problem and deciding to fix it. Massive respect to @nprofile…kkyd. Another great addition to the CCN 2025 top 100. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I do have a problem with being too polite sometimes lol npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Step 1: Campaign against CBDCs npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Apologies all. I normally limit my Substack posts to one a week, but I managed to send two... at the exact same time. I'll hold off on any posts next week. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I saw you already linked to the HRF CBDC Tracker (Merci!). Please do feel free to pull as much as you want from it as you make updates. In addition to the Eurozone and the CBDC 101 pages you linked, I also have a page dedicated to what the Banque de France is up to. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Ignorant about economic history? npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I had not seen this site before. This is great! npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick I do agree that someone is this thread isn't making sense npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Darn. I thought it was open, but I guess I had a one-time link. I got you. I'll cross-post it to my Substack later this week, too, so it's available for all. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Resorting to ad hominem without addressing questions speaks volumes. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick inb4 "many such cases" npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick A big thanks goes out to the FT for publishing my CBDC critique. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Are you suggesting that CBDCs will fix shrinkflation? npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Me: "Europeans will be forced to use the digital euro." npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick You accuse me of misinformation and then repeat exactly what I said. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick The ECB says concerns about CBDCs are "disinformation" and "nonsense." npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick The ECB isn't hiding it. Europeans will be forced to use the digital euro. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick We've all seen Brian Armstrong set the record straight at the World Economic Forum when the Banque de France governor said he doesn't trust the company running bitcoin. npub1n2m8jv38n27myhsrm36jvj94qmnh79qfwxt3lktnuq04s3dpk8kq2agflr EconWithNick Thank you for this! I've been struggling with getting vibe-coded plugins out of the testing environment and into the real world.
