It's also true that about 30% of the Nigerian population is the middle class. It wasn't so much this class that rejected the CBDC, it was the better than 50% of the population that relies on cash payments. A good proportion of this have no bank accounts. I think it took some time before the middle class got on-board with rejecting the CBDC mandate. This was well after the riots started.
In the United States, who doesn't have a bank account? What if tomorrow a decree is made that all paper currency will be exchanged into CBDC? And paper currency will no longer be recognized. The FR would provide a drop-dead date to exchange all paper denominations in private possession to be turned in and exchanged for CBDC. This is similar to what they did with gold in 1933. Would Americans take to the streets like they did in Nigeria. They left over half the population out to dry..... and didn't care what happened to them. This is what led to the riots. Would we see the same here?
It's also true that about 30% of the Nigerian population is the middle class. It wasn't so much this class that rejected the CBDC, it was the better than 50% of the population that relies on cash payments. A good proportion of this have no bank accounts. I think it took some time before the middle class got on-board with rejecting the CBDC mandate. This was well after the riots started.
In the United States, who doesn't have a bank account? What if tomorrow a decree is made that all paper currency will be exchanged into CBDC? And paper currency will no longer be recognized. The FR would provide a drop-dead date to exchange all of the paper denominations in private vaults to be turned in and exchanged for CBDC. This is similar to what they did with gold in 1933. Would Americans take to the streets like they did in Nigeria. They left over half the population out to dry..... and didn't care what happened to them. This is what led to the riots. Would we see the same here?
It's also true that about 30% of the Nigerian population is the middle class. It wasn't so much this class that rejected the CBDC, it was the better than 50% of the population that relies on cash payments. A good proportion of this have no bank accounts. I think it took some time before the middle class got on-board with rejecting the CBDC mandate. This was well after the riots started.
In the United States, who doesn't have a bank account. What if tomorrow a decree is made that all paper currency will be exchanged into CBDC? Would Americans take to the streets like they did in Nigeria. They left over half the population out to dry..... and didn't care what happened to them. This is what led to the riots. Would we see the same here?