CBDC 101 - Disintermediation Protectionism

"Aside from the Big Brother concerns, the digital ruble also presents a formidable challenge to the established banking industry. Aksakov revealed plans for the central bank to start offering retail services to Russians through the CBDC, which would lead to commercial bank disintermediation and an imminent collapse of a $1.5 trillion industry"

This is a typical media report scaring people inauthenticically. Why is it fake news?

Disintermediation is when clients withdraw money from commercial banks accounts to use for CBDC transactions. Commercial banks are right to say this bank run will make them insolvent due to not having the deposits necessary and pushing up interest rates now they have less to play with.

So what they are confessing to is that they take a great deal of risk with citizens money in their deposit accounts. Which most of them are not aware of.

Isn't this disintermediation with the advent of a CBDC a good thing then - the state can always pay if you keep it on account with them. Theres no hidden risk.

What's more, why are the commercial banks playing so recklessly with our money. Where are the regulators? Why are commercial banks taking so much risk with my savings. Regulators are not telling us about these high systemic risks commercial banks are taking.

I suppose it is fair to say that private banking takes these risks under the current conditions they can see like insurance.

But why are they pleading for special treatment. They are private sector free enterprise where competition for the business assures only the fecund players make way.

So really this is just a great media story faking news for ad revenue. A very good business to be in evidently.

The prospect of disintermediation means commercial banks will have to start working for a living finally.

I'm with the state on this one. Central banks seem to be more on my side than commercial banks. I'm not saying they are perfect. I am just saying.

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