According to Robert Kiyosaki, the incoming ‘FedCoin’ will track everyone in a new 1984-style system
Robert Kiyosaki, the author of Rich Dad Poor Dad, cautions that George Orwell’s novel 1984 could rapidly become a reality if the United States launches a central bank digital currency (CBDC).
In a new episode of The Rich Dad Channel, Kiyosaki asserts that a “FedCoin,” or a Federal Reserve-issued CBDC, will enable the government to become omnipresent and monitor the behavior of all Americans.
“FedCoin, or CBDC, has been criticized for being a security risk due to its public nature. Because they’ll know everything we’re spending money on, what we’re spending it on, and who we give it to, they’ll be able to track our every move, transforming the world into George Orwell’s 1984. The problem with the central bank’s digital currency, or Fed Coin, is that Big Brother will be able to track your purchases.
People like me despair. I exclaimed, ‘Oh my God, they’re going to monitor me! I don’t want them to know where my money is going. It is none of their concern.’
But now, with blockchain and all of this, they can monitor whatever they want, so our privacy has been compromised. Therefore, when George Gammon uses the term “Orwellian,” he is referring to 1984. Big Brother will observe you. That is our destination.”
Kiyosaki’s remarks come as the Federal Reserve investigates the advantages and disadvantages of a CBDC. Michelle Bowman, the governor of the Federal Reserve, stated in a speech on Tuesday that the prospective digital currency should be designed with privacy in mind. She asserts that there should be measures in place to protect the privacy of enterprises and individuals.
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