I have a weird habit of monitoring central banks content and narratives. Therefore, I’m subscribed to the OMFIF newsletter, a “think tank” of central bankers & finance bro’s that would make 99% of normal people yawn.
In their last newsletter, I spotted a podcast about the Digital Euro, with Joachim Nagel, president of the Deutsche Bundesbank, and decided to analyze it through my critical lens, by creating the above video using AI (Notebook LLM).
Listening to central bankers like Joachim Nagel talk about “strategic autonomy” and “financial sovereignty” feels like a scripted response to a “New World Disorder” that has been brewing for years. They point to “geopolitical tensions” and the “declining use of cash” as the primary drivers for why we must embrace a digital euro, but I can’t help but wonder if they are just rebranding control as “critical payment infrastructure”. It is part of a much larger, unsettling picture where the old world order, what some experts are calling a “doom loop” of inequality and destabilization, is being replaced not by something better, but by a more digitized version of the same destructive feedback loops.
For me, this is not just about a more convenient way to pay; it is about who really holds the keys to our financial lives. While the “elite” discuss “hard power” and how to sustainably finance massive increases in defence spending, the rest of us are being nudged toward AI agents using CBDC/stablecoins digital wallets that could track every transaction (with bitcoin it’s a different picture btw). If central banks are accumulating gold at record paces as a hedge against “systemic risk,” we should be asking why they’ve made the system so risky in the first place. I’m not buying the “autonomy” narrative. To me, it feels like a manufactured transition into a new world disorder managed by the same old hands.
What do you think?
Efrat ♥️