"The moment you onboard a customer, the clock starts ticking---not just toward periodic review, but toward every transaction, every change in behavior, every event that shifts risk."

An important point to add here: Lagarde argues that the digital euro can be used to evade US sanctions. She describes the importance of individual sovereignty in this example, but the digital euro would _not_ provide individual sovereignty. It's probably obvious to most folks on Nostr, but digital euro users would still be subject to EU control. So, sure. You might evade US sanctions, but you're not going to escape EU sanctions. Big ups to for flagging this in the comments.

Ohhhhh, I see now. Thank you. So both are true. EU sovereignty has been the driving push for the last year. However, in a new interview, Lagarde made a new argument for individual sovereignty in reaction to US sanctions. https://youtu.be/13dPAZAET74?si=0TwFkjhJOKgguV39 Now, do I actually believe she cares about individual sovereignty for people like us? No. But that is the argument she made. I’m with family right now but you raised a really important point: even though she says that, there’s still no individual sovereignty since the EU can target you with the digital euro. I’ll post a follow up soon

I’m not following. Where are you saying should be “states”?

I'm surprised no one has noticed this... but the ECB is openly touting that the newest use case for the digital euro is sanctions evasion. In an interview with the FT, Lagarde openly said the digital euro could be used to evade US sanctions. Considering central bankers often label bitcoin and other cryptocurrencies as tools for criminals to evade sanctions, this is rich. In fact, Lagarde almost sounds like a bitcoiner when she talks about the need for _individuals_ to reclaim their financial sovereignty. So forget financial inclusion, monetary policy, or any of the other popular items officials have proclaimed about CBDCs. The digital euro is about sanctions evasion. https://www.cato.org/blog/digital-euro-sanctions-evasion

Well, I guess that settles that.

Allow me to translate this ECB paper from academic to plain English: 'We found that showing people government propaganda made them more likely to want the digital euro.'

One like = one prayer for central bankers

Forget financial inclusion, monetary policy, and modernization. Now, CBDCs are about preventing discrimination against central bank money.

Your bank may soon call asking you to prove your citizenship if this executive order goes through. https://www.cato.org/blog/know-citizenship-says-trump-banks