Nicholas Anthony is a policy analyst at the Cato Institute's Center for Monetary and Financial Alternatives, a fellow at the Human Rights Foundation, and is also a returning guest to the podcast. Nick rejoins David on Macro Musings to talk about a new book he has authored titled, *Digital Currency or Digital Control: Decoding CBDC and the Future of Money.* Specifically, Nicholas and David discuss the history of CBDCs, their challenges and drawbacks, Nick's recommendations for the future, and a lot more. Transcript for this week's episode. Nick's Twitter: @EconWithNick Nick's Cato profile David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server! Join the Macro Musings mailing list! Check out our Macro Musings merch! Related Links: *Digital Currency or Digital Control: Decoding CBDC and the Future of Money* by Nicholas Anthony *Nicholas Anthony on the Current Prospects and Legislative Developments Surrounding CBDC* by Macro Musings *Macroeconomic Modelling of CBDC: A Critical Review* by Ulrich Bindseil and Richard Senner *Ulrich Bindseil on Central Bank Operating Systems* by Macro Musings Timestamps: (00:00:00) – Intro (00:01:50) – The Future Prospects of CBDC: From Congress to the White House (00:07:35) – The History of CBDCs (00:11:19) – Breaking Down the Three Types of CBDCs (00:17:22) – The Challenges and Drawbacks of CBDCs (00:25:42) – The Buffer Between CBDCs and Privacy (00:31:00) – Wholesale CBDCs, Real-time Payments, and Cross-border Payments (00:41:06) – The Potential Destabilizing Effects of CBDCs (00:46:12) – The Pros and Cons of a CBDC for the Fed (00:53:23) – Responding to Pro-CBDC Arguments (00:59:05) – Recommendations for the Future of CBDCs (01:01:92) – Outro

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