Petition EN4638 – Disadvantages of Central Bank Digital Currencies (The eAUD)
SIGN BEFORE 21DEC22
Senator ANTIC Talks in Parliament about Tracking Citizens
IMPORTANT – Senator Antic
‘You’re being set up to be tracked through your movements and through the future of your digital wallets.
By handing over your data, you’re handing over the ability to monitor your behaviour, which will soon be
turned into a social credit score. Once the central bank digital currencies are in place, you won’t get to spend your money without approval.
Digital ID will soon become a reality in Australia. Many other countries are already rolling these systems out, countries like Canada, Scotland and many others.
Eventually, you won’t be able to access any government or public services, and you won’t be able to travel across borders or access health care or the internet
without a digital ID.
The last 2yrs were the dress rehearsal & we fell for it.
Australians are sleepwalking into this technocratic future.
While we’re sitting around, scratching our chins, Australia is drifting towards a dystopian digital future.’
As Australian citizens, we should be concerned about the disadvantages of a Central Bank Digital Currency
Traceability: In the case where physical cash is eliminated entirely, this eliminates our ability to transact in a fully anonymous manner
Negative Rates: With CBDCs, you cannot withdraw your digital tokens & hold them under the mattress. If there is no option for physical cash, this gives central banks the ability to implement negative interest rates
Programmability: CBDCs give central banks a unique opportunity to make money “programmable”. For example: Expiration, with a direct relationship with your central bank, CBDCs could permit a currency expiration policy. Your money could be programmed so if you don’t spend the $5000 in your account by next Saturday, it will expire
We therefore ask the House to enshrine the use of cash in law.