This is the Catery Daily podcast for Monday, December 16, 2024.

I'm Caleb Brown.

How would states respond to the adoption of the privacy-killing innovation known as

Central Bank Digital Currency?

Nicholas Kleinworth directs policy at the Idaho Freedom Foundation.

He says it would be extremely difficult for states to push back against all manner of federal control after the adoption of a CBDC.

We spoke in Phoenix in August.

We are used to thinking of monetary policy, of policies governing money as solely the purview of a national level

government. But with the looming threat posed by CBDCs, Central Bank Digital Currencies,

and the fact that we have cryptocurrencies that can travel world in seconds.

And states have a role to play here.

And so what, first of all, characterize your view on both crypto and CBDC and what you think the risks are to states of

either banning crypto or adopting CBDC.

Well, thank you for having me on.

I think that let me start from our example here in Idaho.

In Idaho, our policy stance was the first fight,

the central bank digital currency,

and we're really concerned about actually a lot of things

that Nick Anthony talks about in his book for Cato,

where there is a lot of things that Nick Anthony talks about in his book for Cato, where there is a lot of

surveillance and control that we risk when we allow the federal government to be the

primary controller of your financial business. So through a central bank digital currency, they're able to see all of your

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