“No Fucking Way” We’re Going Digital

Central bank digital currencies (CBDCs) are catching the attention of many in the U.S., including high-profile figures like Joe Rogan and Post Malone. In episode 2018 of the “Joe Rogan Experience” podcast, which regularly attracts over 11 million listeners, the two voiced their skepticism about the idea of a U.S. digital dollar.

Rogan bluntly stated, “No fucking way. No way. That’s what I think. I think that’s checkmate. That’s game over.” He went on to paint a picture of a possible future where the government could use CBDCs to control its citizens. He speculated about a system where the government ties access to CBDCs to a social credit score. Rogan warned, “If they decide you need a social credit score system for society’s benefit and they can monitor your behavior and actions, they can easily decide you’ve crossed a line.”

Post Malone shared his reservations too, noting the limitations of FDIC insurance, which only guarantees bank deposits up to $250,000. He further expressed concerns about the government’s power over individual finances. Highlighting the Canadian government’s past decision to freeze accounts linked to the “Freedom Convoy” truckers, Malone emphasized the risk of governments having unchecked access to people’s money.

Such worries about CBDCs resonate with many advocates of decentralized cryptocurrencies. Recent discussions about the CBDCs have even reached the political arena, with both Ron DeSantis and Robert Kennedy Jr., two U.S. presidential contenders, speaking out. Kennedy Jr. once said about CBDCs to “grease the slippery road to financial slavery and political tyranny” and DeSantis indicated that there’s an ongoing “war on Bitcoin and cryptocurrency.”