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Joe Rogan’s CBDC horror story comes true – Here is how

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TL;DR

  • He predicted governments might use CBDCs to control and restrict access to funds based on social and political criteria.
  • Over a dozen Republican states have passed laws against considering social or environmental factors in financial decisions.
  • Governor Ron DeSantis signed a law prohibiting banks from using social credit scores based on personal beliefs or industry support.

Joe Rogan’s nightmarish scenario involving Central Bank Digital Currencies (CBDCs) has astonishingly transformed from a wild theory into a tangible reality.

On his influential platform, Rogan expressed grave concerns about the potential for governments to manipulate CBDCs, ultimately exerting excessive control over individual access to funds.

This dystopian prediction has now taken a disturbing turn towards actualization, challenging the very fabric of financial freedom and privacy.

The Rise of Social Credit: A Dangerous Precedent

The conversation about CBDCs gained momentum when the artist Post Malone broached the topic on Rogan’s podcast.

Rogan’s response was filled with dread, as he foresaw a world where governments could leverage CBDCs to impose social credit systems, effectively ostracizing individuals based on their political beliefs, social affiliations, or other arbitrary criteria.

The chilling reality is that this is no longer a distant possibility; it is happening right now, as states across America are beginning to take a stand against the encroachment of social credit systems on financial liberties.

Since 2021, numerous Republican-led states have enacted legislation to shield state agencies from being influenced by environmental or social factors in their financial decisions.

In March of this year, a formidable group of 19 Republican governors solidified their opposition to these practices, pledging to safeguard consumers from the potential ramifications of social credit scores on their ability to secure banking services or loans.

Florida’s governor, Ron DeSantis, escalated the resistance by signing a comprehensive law that explicitly prohibits banks in the state from utilizing social credit scores that factor in an individual’s political stance, religious beliefs, or support for certain industries.

While Rogan maintains his political neutrality, he is far from alone in his apprehension about the future implications of social credit systems.

The Flawed Reality of American Credit Scoring

Despite the mounting political resistance, the United States is already entangled in a convoluted web of private credit scoring, a system that is anything but transparent or fair.

Access to essential services such as loans, rental agreements, and even employment opportunities is contingent upon these often inaccurate and biased scores.

The system presupposes a quantitative and impartial evaluation of creditworthiness, but the reality is starkly different. Credit, by its very nature, is a social construct, reliant on the presumption of trust and the expectation of future repayment.

Traditionally, this was a localized affair, reliant on personal knowledge and anecdotal evidence. However, the financial turmoil of the 1837 Panic necessitated a radical transformation, giving rise to private credit rating agencies.

These agencies, however, are far from infallible. They operate on subjective impressions and contradictory reports, transforming them into numerical scores that carry immense weight, despite their lack of precision and accuracy.

The consequences are severe, with erroneous information plaguing consumer credit scores, often resulting from mistaken identity, medical debts, or identity theft.

Attempts to rectify these errors are met with resistance and procrastination from the credit reporting agencies, leaving consumers in a state of perpetual financial uncertainty.

The Consumer Financial Protection Bureau has reported a staggering increase in disputes, underscoring the systemic issues within the credit scoring industry.

Joe Rogan and Post Malone’s fears are not unfounded; the arbitrary deprivation of banking and credit services is a grim reality.

The United States, despite its resistance to CBDCs and social credit systems, is already ensnared in a flawed and unjust credit scoring system.

The need for reform and accountability has never been more urgent, as we find ourselves on the precipice of a financial dystopia, eerily reminiscent of Joe Rogan’s darkest predictions.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Jai Hamid

Jai Hamid is a passionate writer with a keen interest in blockchain technology, the global economy, and literature. She dedicates most of her time to exploring the transformative potential of crypto and the dynamics of worldwide economic trends.

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