Another Big CBDC Flop… Here’s What Really Comes Next (Hint: It’s Not What the Elites Hoped For)

Last year, Nigeria launched its much-ballyhooed eNaira, Africa’s first central bank digital currency (CBDC).

Central bankers, academics, politicians, and an assortment of elites from over 100 countries hoping to launch their own CBDCs have closely followed the eNaira.

They used Nigeria—Africa’s largest country by population and size of its economy—as a Petri dish to test their nefarious plans to use CBDCs to enslave the people of North America, Europe, and beyond.

The jury is now in.

The eNaira has been a massive failure.

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I hope we see similar outcomes in the West should digital currencies launch here, but believe Western peoples are much more trusting of their governments than Nigerians are of theirs and thus we are more likely to lose this battle. We are seeing widespread shifts away from the absurd left (sometimes absurdly called shifts toward the “far right”) in the West but how could we have gone this far woke in the first place? The Buddhist understanding of our current civilizational plight is that’s how this human realm is; that’s the First Noble Truth of suffering or “unsatisfactoriness.” Recognizing the First Noble Truth does not mean succumbing to its manifestations. It does imply, however, that our moral obligations may take longer than expected to bear good fruits and will in many ways impact the moral doer(s) more than this realm overall. Overcoming this realm entails rising above it as much as improving it in what ways we are able. How and where you draw the line between those two is up to you and also explains several major themes in Buddhist history. At its core, Buddhism is an ethical/moral practice that is deeply involved with this human realm and also ultimately transcends this human realm. ABN

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