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"CBDCs: Beyond the Basics" at The Corbett Report

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Do you know the difference between retail and wholesale CBDCs?

CBDCs: Beyond the Basics



Episode 433 - CBDCs: Beyond the Basics


We all know that central bank digital currencies are bad news. But do you know the difference between retail and wholesale CBDCs? And do you know why the American Bankers Association is against the implementation of retail or intermediated CBDCs? Today James takes you beyond the basics and begins introducing you to the split circuit monetary system as we dive deeper down the programmable money rabbit hole.

Watch on Archive / BitChute / Odysee / Rokfin / Rumble / Substack / Download the mp4


CBDCs: A Country-by-Country Guide
Time Reference: 01:52


What Is Programmable Money?
Time Reference: 02:11


Conversation with John Titus on CBDCs
Time Reference: 02:22


Bretton Woods 2.0
Time Reference: 02:26


Central Bank Digital Currencies Explained
Time Reference: 03:17


Joe Rogan Talks to Maajid Nawaz
Time Reference: 03:59


World Government Summit 2022 Livestream: Day 1
Time Reference: 05:00


Cross-Border Payment—A Vision for the Future
Time Reference: 05:43


What Is The Bitcoin Psyop? - Questions For Corbett #086
Time Reference: 05:41


Episode 328 - The Bitcoin Psyop
Time Reference: 07:50


What Is The Bitcoin Psyop? - Questions For Corbett #086
Time Reference: 08:35


What Is Programmable Money?
Time Reference: 11:33


Indian central bank on track to launch retail CBDC pilot next month
Time Reference: 14:21


NY Fed launches 12-week CBDC pilot program with major banks
Time Reference: 15:11


How BlackRock Conquered the World - Part 2: Going Direct
Time Reference: 17:07


Larry and Carstens' Excellent Pandemic
Time Reference: 18:41


John Titus Substack
Time Reference: 32:31


New York Fed releases pilot exercise results for wholesale CBDC
Time Reference: 35:52


Could digital currencies put banks out of business?
Time Reference: 37:33


Digital euro conference - jointly organised by the European Central Bank and the European Commission
Time Reference: 48:08


Project Cedar Phase One Report
Time Reference: 55:07


Project Hamilton Phase One Executive Summary
Time Reference: 55:12


Episode 394 - Solutions: Survival Currency
Time Reference: 56:18


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Ringing the Alarm on The Hrvoje Morić Show

RECORDED NOV 21: James joins Hrvoje Morić on The Hrvoje Morić Show on TNTRadio to discuss the latest lies from the war in Ukraine, the CBDC psyop and how we need to get serious about fighting the war on us all that constitutes the real Third World War.

Watch on Archive / BitChute / Odysee / Rokfin / Substack / Download the mp4


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Episode 328 - The Bitcoin Psyop

What Is The Bitcoin Psyop? - Questions For Corbett #086

Episode 433 - CBDCs: Beyond the Basics

How BlackRock Conquered the World - Part 1 / Part 2

Larry Fink's 2022 Letter to CEOs

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Filed in: InterviewsVideos
Tagged with: cbdcchemtrailsgeopoliticsrussiaukrainewar

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Nigeria Limits ATM Withdrawals To $45 Per Day To Force Govt-Controlled Digital Payments

Tyler Durden's Photo
by Tyler Durden
Thursday, Dec 08, 2022 - 05:55 AM

A staggering number of Nigerians love Bitcoin, but hate government cryptocurrency (CBDCs).

In April, leading cryptocurrency exchange KuCoin noted that 35% of the adult population in Nigeria - roughly 34 million adults aged 18-60, own bitcoin or other cryptocurrencies. But when it came to the country's Central Bank Digital Currency (CBDC), the eNaira, it was a massive failure.


According to Bloomberg, only 1 in 200 Nigerians use the eNaira - despite government implemented discounts and other incentives, implemented as desperate measures to increase adoption.

Now, the government is looking to boost digital payments by limiting ATM withdrawals to just 20,000 naira, or roughly US$45 per day, Bloomberg reports, citing a circular sent to lenders on Tuesday. The previous withdrawal limit was 150,000 naira (US$350).

Weekly cash withdrawals from banks are now limited (without fee) to 100,000 naira (US$225) for individuals, and 500,000 naira (US$1,125) for corporations. Any amount above this will incur a fee of 5% and 10% respectively.

The action is the latest in a string of central bank orders aimed at limiting the use of cash and expand digital currencies to help improve access to banking. In Nigeria’s largely informal economy, cash outside banks represents 85% of currency in circulation and almost 40 million adults are without a bank account. 

The central bank last month announced plans to issue redesigned high value notes from mid-December to mop up excess cash and it’s given residents until the end of January to turn in their old notes. The bank also plans to mint more of the eNaira digital currency, which was launched last year but has faced slow adoption. -Bloomberg

What's more, new rules which will take effect Jan. 9 will ban the cashing of checks above 50,000 naira (US$112) over-the-counter, and 10 million naira (US$22,480) through the banking systems. Point-of-sale cash withdrawals have been capped at 20,000 naira ($45).

Meanwhile, banks are only allowed to load their ATMs with 200 naira denominations and under, while individuals and corporations will be allowed to cash a maximum of 5 million and 10 million naira respectively if there are "compelling circumstances not exceeding once a month," and which will be subject to enhanced due diligence along with processing fees, according to the central bank. Such withdrawals will also require the approval of a bank CEO.

"Customers should be encouraged to use alternative channels—Internet banking, mobile banking apps, USSD, cards, POS, eNaira to conduct their banking transactions," said the central bank on Tuesday.

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