But I think most people don't believe that when you use your wallet to pay for something, the Fed would take the digital cash out of your wallet and deposit it into the merchants. What they want to do with the central bank digital currency, part of it is they want to displace all cryptocurrency because they can't control that. So they want to get rid of that. They want to move to a cashless society, which would basically mean the Federal Reserve, Treasury Department would have supervisory jurisdiction over all of your transactions. (36:13–36:21)
CLAIM
Asserts that central bank digital currency aims to displace all cryptocurrency due to lack of control.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
