How CBDC Central Bank Digital Currency Will Effect the Professional DJ in the Future

0:00 Welcome to the kitchen

Right ladies and gentlemen, welcome to the kitchen. Now this video is DJ related and if you are a professional DJ it does involve you, 100%. By the way this kitchen is a used kitchen, it's meant for the purposes of being a kitchen, in other words I cook in it every day so if it does look a bit messy then that's how... I've even got a bike in here as well. Very rarely will I get a takeaway because I like to cook real food. No disrespect to any takeaways because some of them are very good. Personally, I think a lot of it is fodder. Anyway, don't really want to go down that road. So first of all, my disclaimer, this video should not be taken as financial advice or anything like that. This video is clearly for entertainment purposes only. But what has been going on in the background...

Is quite disturbing and I'm going to explain it how it potentially could affect you as a professional DJ. Now first of all let's work out what a professional DJ is. It is a boy, girl, man, woman who will go out and give a service as a DJ and for that service they will be paid money, paid revenue. Now what you do with that money is of course entirely up to you. Because if you get paid cash, then you can just go and rip it up, throw it in the air or light a fire with it. Alternatively, if it goes directly into your bank, then it has been noted. There should be certain reason for having that in the bank and you may be asked for the reason why that certain amount was put in your bank. And let's say there's three people. This is a good one. Three people go to a cafe. You each pay for your drinks. The first person pays using cash. The second person pays using chip and pin, where you get your card out, you go beep and that's it. And the third person uses their phone. Now, the first person who's used cash will not be known. That person in that cafe on that precise time and date does not exist.

2:24 The second person, guess what?

The second person, guess what? The system knows that you have indeed been at that cafe and you've paid for a cup of coffee. To the extent they will probably even be able to know what coffee you've had. The same with the third one. They'll be able to know what coffee you've had, what time you bought it and where you were and basically everything about the transaction. But the thing is, that's not centralised because it could be... From your certain bank. So basically, the cafe house where you bought the coffee from knows of the transaction and the bank where the money was taken from knows where that transaction took place. But the government doesn't. Until, of course, they maybe want to look into your accounts and then they could possibly find out. But at the point of transaction, from that time...

They probably didn't know unless they're checking on you all the time. So it won't be a little bank, it will be a centralised banking system. But then you're probably asking now scratching your head thinking well Jonathan what has this got to do with me as a DJ because I don't even like coffee? Let me explain. Let's imagine today I'm just going to give a number 500 okay so it could be 500 shekels euros dollars it doesn't matter just the number of 500. So you have a client phone you up and you both agree a price For your services as a DJ of 500, you ask them to pay you 50 deposit. You give them your bank details and they sure enough transfer 50 to your bank as a bond, a guarantee. You then on the Saturday, the Sunday, the Monday afternoon, you do the gig and then at the end of the gig or beforehand, depending on how the contract worked, they pay you the remainder in cash.

5:16 What that means is that now 100 is non-existent because it's cash

450. So you've now got 450 cash. Now when you go home, in your books, and I'm not saying you should do this, I'm saying that this can happen. I'm sure it does happen. But again, this video is for entertainment purposes only. Let's imagine in your accounts, you write down for that event, you actually earned 400. So what that means is that now 100 is non-existent because it's cash. So what that means, 100, 400 left, it means that potentially if you put that at the 350 in the bank, you can say that that 350 and the 50 was your fee for that gig. And the 100, you can go and bet it on the horses or go and do stuff with it. It doesn't matter. With a CBDC you can't do that because if the system gets its way they will know how much you had, they could potentially tax you on source and so on. So this is where it is quite scary and it does involve you as a DJ. Now a lot of people seem to think that cash is terrible and we shouldn't have cash

What's the point? I can just use my phone and I can go beep and I don't have to carry cash with me. But the thing is, is cash is freedom. Cash is liberty. Cash is something that is outside of the system. Because look at it this way. Let's imagine you want to go shopping and you want to go Christmas shopping, for example. And this happens. You see, I bang on about this, but not many people believe me. Just give yourself a test. You take out, for example, say, I don't know, £100. £100 in cash and you go Christmas shopping and you buy one or two items. That's it. You pay in cash, you wrap them up, you go home and that's done. But let's say you don't want to take £100 out. You just want to go beep with your phone or your credit card or your cash card. It doesn't matter.

7:38 Don't even have a hold of that currency

And you go and buy exactly the same items. It's very likely that soon afterwards, you're going to get apps and adverts on the realms of what you bought. So for example, you may buy a cuddly toy for your niece and all of a sudden, you'll see loads of cuddly toys appear on Facebook. Or maybe you'll buy a screwdriver set for your uncle and all of a sudden, you'll see hammer drills. You see because the system watches you. Whereas if you have cash and you buy using cash, it's out of the system. Now, I don't want to go too much down the rabbit hole because I want to keep this DJ orientated. But like I said earlier, I am actually not scared and anxious about central bank digital currencies. When and if it happens, then that's it. Your freedom is over because when you agree a price, that money, that currency has got to go into your account and the people that you're giving the service to.

Don't even have a hold of that currency. And you will never have a hold of the currency. It will just be digits transferred from one place to the other. And the system will know exactly how much was transferred, who it was transferred from, where it was transferred to, what time it was transferred and if it's done by phone or an app, even where you were. And you'll probably have to write down what the money was transferred for. And they could potentially tax you at source. All right? So I ask you, just do your own research, see what's going on, but I hope this has been a help and don't forget to like and subscribe. Also, a lot of people are always asking, you know, how come, you know, you don't do loads more tutorials? Well, I still do the tutorials, but what I highly recommend is go back in time to all my old videos because

I'm not sure how many videos I've done now. There must be three, four thousand videos. Now, some of them are definitely not DJ related and as I said time and time again, if I make a video that is not DJ related, I will always give that in the disclaimer right at the beginning of the video so I don't want to waste your time, all right? So once again, please do some research on CBDCs and if at all possible... Try and keep using cash. It's vital because cash is liberty and cash is your freedom. Cash is outside of the system. Practice and enjoy. Thank you.

This transcript was produced automatically from the audio of the video and may contain mistakes.