This Is Serious–Consider This Now!
A lot of people have taken a doomsday approach to the issuance of a Central Bank Digital Currencies (CBDC) which resembles China’s infamous social credit score; a method regulating every single behaviour of their population to confirm with the state’s mandate, ideology or desires. Recently, it has been in the news as Presidential candidate Donald Trump pleaded that he would never allow a CBDC if he were to become President.
It certainly appears that the development of this technology is a main focus of central banks the last few years. I see lots of cryptocurrency folks promoting this digital serfdom (which makes me immensely critical of the origins of cryptocurrency) too. The most significant advancement is in areas that have an existing collectivistic culture. Countries especially concerned with the movement of capital and personnel beyond their borders; countries in Asia for instance. Although even Europe are in trouble and demand your tax revenue (keeping you in place) and your capital to manage their debts through inflation (keep your capital in place). Rather than highlighting their lies, failures, and criminality, CBDCs are also a tool for them to squash truth and dissent by limiting who gets how much “money” on the centrally controlled ledger.
The emergence of this is truly something Adolf Hitler’s or Joseph Stalin’s pupils would have dilated over. It is a life-altering threat that is very real. It’s not uncommon to develop a nihilistic attitude with this. “It’s coming, what can we do, there’s no solutions, just doom”.
This article is to show that it’s not all doom, there are places that are not playing this game, some places offer a great lifestyle, too. The worst part? You’ll have to move. Still, it’s better to move than having even less freedom than slaves did hundreds of years ago.
If you click the links underlined it will take you to articles we wrote about the place or topic!
Countries with ‘Inactive’ Status
Bermuda; a territory of the British Crown. There’s use cases for Bermuda but this is how we REALLY feel about it…
Costa Rica; Costa Rica accepts colones, USD and never went Covid Crazy years ago.
Denmark
Sint Maarten & Curaçao; These are constituent countries belonging to the Kingdom of the Netherlands. I will say that Sint Maarten is not an easy country to work, though & Curaçao is a nightmare outside of some niche purposes.
Uruguay
Iceland; Check out my article on Iceland here–> there’s more reasons that just a CBDC to consider this Viking nation
Belize
Venezuela; maybe in 20 years the place will be okay?
Eritrea; I don’t think you should move here.
Benin
Kuwait; Kuwait is interesting as it derives a lot of its law from British Common Law. It’s the only in the Gulf whereby which you could have an honest trial (rather than 1 law for locals and 1 law for foreigners).
Palestine; for obvious reasons
Lebanon; Perhaps also for obvious reasons given their hyperinflation (more on this with On The Ball!)
Denmark; Denmark is the only EU country to say no. Bravo.
Countries with ‘Cancelled’ Status
Ecuador. The trust in Ecuador’s central bank was so low, nobody utilized it at all and it was deemed a failure. The “just say no” and stick to your guns, works. Ecuador has a lot of problems currently, however–they are nearly a proxy state of the Sinoloa Cartel now.
Senegal
Some Countries with no report (presumably no development)
Panama; Panama, for it’s faults, is still a very great financial hub with cash being a pillar of their society.
Serbia; Serbia is very much a cash society.
North Macedonia; another Balkan country (interesting, they are not in the Common Reporting Standard scheme, which is the closest thing to “hiding your money” in modern times). It would be smart to open a bank account here.
El Salvador; Bitcoin can be used
Nicaragua
Seychelles; by far the most prosperous country in Africa. Our Subscription Service covers detailed analysis of the situation of the African continent Bolivia
Cuba
Guyana/French Guinea/Suriname
Poland
Romania
Bulgaria
Bosnia
Croatia
Armenia; also a non CRS country who value lots of gold and pay high interest on deposits!
Uzbekistan
Kyrgyzstan
Most of Africa (about 1/3rd)
If you come across graphs who may be showing no development it’s important to remember that they may be in a currency union so the decisions of others will be forced upon them.
Some Countries in the research phase
Azerbaijan
Chile
Oman
Czech Republic
Vietnam
Honduras
Guatemala
Most of Africa (1/3)
Some Countries with development/research/pilot projects but remain cash societies in our experience
Montenegro (in development). Montenegro has been focused on joining the EU. I suspect the EU will collapse before they qualify, but regardless one of their terms of joining the club is their own central bank coin.
Switzerland (in development). Switzerland is very pro cryptocurrency, they’re pro gold, pro investing and banking. They are working on a system but their Swiss National Bank did not find a need for domestic issuance, rather wholesale use to facilitate transactions with Germany, France, Austria and others.
Brazil (development) (with exceptions)
Colombia (development).
Argentina (development). Cash is king because of their high inflation. They have a blue and black rate of inflation, the former being the government set whereas the black is the ‘true’ on the street rate. This can only be achieved by using physical cash and there are talks of dollarizing their economy.
Paraguay (research). Paraguay is a very laid back free and easy country. Anything goes down there so it’s easy to operate with more flexibility.
Georgia (research). Stay tuned for our Georgia article. They are very cash friendly with ATMs being used quite often. However, a serious push to join EU/NATO may force them to install a CBDC.
Hungary (research). Hungary has seen lots of inflation but they definitely use their forint!
ECCB countries (East Caribbean Central Bank) (Launched CBDC). The reality is that few people use it and the US dollar remains supreme here.
Turkey (development) Same reasons as Argentina. Most locals switch their lira to USD, gold or bitcoin (or try to switch). Erdogan has no clear opponents and their society is more conformist than Argentina however.
Vanuatu (research). Vanuatu joined up with other oceanic islands to research the viability of a CBDC, however cash is used virtually everywhere (credit card terminals aren’t even common) and that’s not changing anytime soon.
Most of Africa (about 1/3rd)
Mexico. Mexico is perhaps the most cash-oriented society that we’ve been. Outside of a few cities or select regions, removing cash here is comical. Find out a bunch of reasons why you should consider Mexico!
The rest of the countries not listed are either in development, they are in a pilot phase, or they’ve already launched a CBDC either for retail or wholesale usage! Be Careful!!
Stressed about this? I don’t blame you… But that’s what we’re here for! To listen to your goals and work with you to achieve them.
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I often encourage readers to share content for more exposure of our articles, but consider sharing for the purpose of giving these countries more attention for the sole reason of rejecting this tyrannical system. It’s challenging to find freedom in the world now, but I hope more people can find it and reject this recent move.
#StayOnTheBall
