Economist warns of the collapse of the currency system and the harm of CBDC - ForkLog: cryptocurrencies, AI, singularity, future

# Economist Warns of Currency System Collapse and the Harm of CBDC

German economist Richard Werner said in an interview with Tucker Carlson that a new global financial crisis is inevitable and that authorities plan to use central bank digital currencies (CBDC) as a tool for total control.

Asset Bubble and the End of the Dollar Era

In Werner’s view, the U.S. has formed a massive bubble covering the real estate market, stock exchange venues, and cryptocurrencies. He noted that current quotes are “somewhat overvalued,” and that the system is moving toward a change in the currency order.

The economist drew parallels with historical milestones: the collapse of the gold standard and the 1971 “Nixon shock.” He suggested that the current stage is preparation for dismantling the “petrodollar” system.

“Whenever major wars happen, they lead to a change in the global financial system. […] We are in the acceleration phase before the next restructuring of the monetary system,” Werner emphasized.

The expert allowed for a “second wave” of inflation, calling it a “good disguise” for changing the monetary model. He accused central banks of issuing without justification in 2020, which, according to him, was purely a monetary decision with no economic reasons.

CBDC as “Digital Control”

The main threat the economist sees is digital identification and the programmability of money. Werner proposed decoding the abbreviation CBDC as Central Bank Digital Control (“digital control of the central bank”).

In his version, the new system will allow authorities to micromanage citizens’ lives:

• limiting spending by time and location;
• blocking transactions when purchasing “wrong” goods;
• controlling the movement of the population.

“This is the embodiment of a totalitarian dictator’s dream. It involves highly centralized structures whose goal is not productivity, but control over us,” he said.

Werner reminded that humanity has been using digital money from commercial banks for decades. The problem with CBDC, in his opinion, lies precisely in centralizing the instrument in the hands of authorities.

Similar concerns had also been expressed earlier by other market participants. In 2024, U.S. President Donald Trump promised to “never allow” the creation of CBDC, calling them a “dangerous threat to freedom.”

Regulators such as the ECB and the Fed deny plans for total surveillance. In Brussels, it is insisted that the digital euro will only complement cash, and the Federal Reserve emphasizes the need for congressional approval to issue a digital dollar.

Recall that in April 2026, the European Central Bank selected payment standards for the digital euro.