Economist Richard Werner warns of a looming financial crisis and the potential for CBDCs to enable total control over citizens.
German economist Richard Werner has issued a stark warning regarding an imminent global financial crisis, highlighting plans by authorities to utilize central bank digital currencies (CBDCs) for enhanced control over citizens. In a recent interview with Tucker Carlson, Werner expressed concern about a significant asset bubble in the U.S. that spans the real estate market, stock exchanges, and cryptocurrencies, suggesting that these valuations are excessively inflated.
Historically, Werner referenced the collapse of the gold standard and the "Nixon shock" of 1971, indicating that the current economic climate signals a potential shift away from the "petrodollar" system. He stated, "Whenever major wars occur, they lead to a change in the global financial system. [...] We are in the acceleration phase before the next restructuring of the monetary system."
Moreover, Werner foresees a "second wave" of inflation, which he believes will serve as a veil for transitioning to a new monetary model. He criticized central banks for their unsubstantiated monetary policies initiated in 2020, describing these actions as lacking economic rationale.
Concerns Over CBDCs
Werner is particularly concerned about the implications of CBDCs, interpreting the acronym to mean Central Bank Digital Control. He warns that this new system could enable authorities to exert control over citizens' daily lives, including:
- Limiting expenditures based on time and location.
- Preventing purchases of designated "wrong" items.
- Monitoring and restricting personal movements.
He characterized this as representing the ultimate vision of a totalitarian regime aiming for centralized control. He noted that while digital money has existed in commercial banks for years, the issue with CBDCs lies in their centralization, granting unprecedented power to government entities over individuals.
Similar sentiments have emerged from other stakeholders, including former President Donald Trump, who has vowed to oppose CBDCs, labeling them a "dangerous threat to freedom." Regulatory bodies such as the ECB and the Federal Reserve maintain that they do not intend to implement overarching surveillance systems, with the ECB asserting that the digital euro will merely supplement existing cash systems. The Federal Reserve has emphasized that the issuance of a digital dollar would require congressional approval.
Additionally, the European Central Bank has progressed in the preparation of the digital euro, having selected payment standards in April 2026.
