IMF Deputy Managing Director Bo Li on the Future of CBDCs and Financial Control

CBDCs will “help” financial inclusion through programmability—a fancy way of saying that governments and corporations will have absolute control over how, when, and where you spend your money.

This statement comes from Bo Li, IMF Deputy Managing Director and former People’s Bank of China Deputy Governor. He is discussing how Central Bank Digital Currencies (CBDCs) can be programmed to enforce spending restrictions, determine who can use them, and control financial transactions under the guise of "financial inclusion."

get ready for more government oversight on your spending habits