Central Bank Digital Currency Is the Endgame – Part 1
Iain Davis
Central bank digital currency (CBDC) will end human freedom. Don’t fall for the assurances of safeguards, the promises of anonymity and of data protection. They are all deceptions and diversions to obscure the malevolent intent behind the global rollout of CBDC.
Central Bank Digital Currency is the most comprehensive, far-reaching, authoritarian social control mechanism ever devised. Its “interoperability” will enable the CBDCs issued by various national central banks to be networked to form one, centralised global CBDC surveillance and control system.
Should we allow it to prevail, CBDC will deliver the global governance of humanity into the hands of the bankers.
CBDC is unlike any kind of “money” with which we are familiar. It is programmable and “smart contracts” can be written into its code to control the terms and conditions of the transaction.
Policy decisions and broader policy agendas, restricting our lives as desired, can be enforced using CBDC without any need of legislation. Democratic accountability, already a farcical concept, will become literally meaningless.
CBDC will enable genuinely unprecedented levels of surveillance, as every transaction we make will be monitored and controlled. Not just the products, goods and services we buy, even the transactions we make with each other will be overseen by the central bankers of the global governance state. Data gathering will expand to encompass every aspect of our lives.
This will allow central planners to engineer society precisely as the bankers wish. CBDC can and will be linked to our Digital IDs and, through our CBDC “wallets,” tied to our individual carbon credit accounts and jab certificates. CBDC will limit our freedom to roam and enable our programmers to adjust our behaviour if we stray from our designated Technate function.
The purpose of CBDC is to establish the tyranny of a dictatorship. If we allow CBDC to become our only means of monetary exchange, it will be used enslave us.
Be under no illusions: CBDC is the endgame.
What Is Money?
Defining “money” isn’t difficult, although economists and bankers like to give the impression that it is. Money can simply be defined as:
A commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed. It circulates from person to person and country to country, facilitating trade, and it is the principal measure of wealth.
Money is a “medium”—a paper note, a coin, a casino chip, a gold nugget or a digital token, etc.—that we agree to use in exchange transactions. It is worth whatever value we ascribe to it and it is the agreed value which makes it possible for us to use it to trade with one-another. If its value is socially accepted “by general consent” we can use it to buy goods and services in the wider economy.
We could use anything we like as money and we are perfectly capable of managing a monetary system voluntarily. The famous example of US prisoners using tins of mackerel as money illustrates both how money functions and how it can be manipulated by the “authorities” if they control the issuance of it.
Tins of mackerel are small and robust and can serve as perfect exchange tokens (currency) that are easy to carry and store. When smoking was banned within the US penal system, the prisoners preferred currency, the cigarette, was instantly taken out of circulation. As there was a steady, controlled supply of mackerel cans, with each prisoners allotted a maximum of 14 per week, the prisoners agreed to use the tinned fish as a “medium of economic exchange” instead.
The prisoners called in-date tins the EMAK (edible mackerel) as this had “intrinsic” utility value as food. Out-of-date fish didn’t, but was still valued solely as a medium of exchange. The inmates created an exchange rate of 4 inedible MMAKs (money mackerel) to three EMAKs.
You could buy goods and services in the Inmate Run Market (IRM) that were not available on the Administration Run Market (ARM). Other prison populations adopted the same monetary system, thus enabling inmates to store value in the form of MAKs. They could use their saved MAKs in other prisons if they were transferred.
Prisoners would accept payment in MAKs for cooking pizza, mending clothes, cleaning cells, etc. These inmate service providers were effectively operating IRM businesses. The prisoners had voluntarily constructed a functioning economy and monetary system.
Their main problem was that they were reliant upon a monetary policy authority—the US prison administration—who issued their currency (MAKs). This was done at a constant inflationary rate (14 tins per prisoner per week) meaning that the inflationary devaluation of the MAKs was initially constant and therefore stable.
It isn’t clear if it was deliberate, but the prison authorities eventually left large quantities of EMAKs and MMAKs in communal areas, thereby vastly increasing the money supply. This destabilised the MAK, causing hyperinflation that destroyed its value.
With a glut of MAKs available, its purchasing power collapsed. Massive quantities were needed to buy a haircut, for example, thus rendering the IRM economy physically and economically impractical. If only temporarily.
Perfectly usable “money”
The Bankers’ Nightmare
In June 2022, as part of its annual report, the BIS published The future monetary system. The central banks (BIS members) effectively highlighted their concerns about the potential for the decentralised finance (DeFi), common to the “crypto universe,” to undermine their authority as the issuers of “money”:
[DeFi] seeks to replicate conventional financial services within the crypto universe. These services are enabled by innovations such as programmability and composability on permissionless blockchains.
The BIS defined DeFi as:
[. . .] a set of activities across financial services built on permissionless DLT [Distributed Ledger Technology] such as blockchains.
The key issue for the central bankers was “permissionless.”
A blockchain is one type of DLT that can either be permissionless or permissioned. Many of the most well known cryptocurrencies are based upon “permissionless” blockchains. The permissionless blockchain has no access control.
Both the users and the “nodes” that validate the transactions on the permissionless blockchain network are anonymous. The network distributed nodes perform cryptographic check-sums to validate transactions, each seeking to enter the next block in the chain in return for an issuance of cryptocurrency (mining). This means that the anonymous—if they wish–users of the cryptocurrency can be confident that transactions have been recorded and validated without any need of a bank.
Regardless of what you think about cryptocurrency, it is not the innumerable coins and models of “money” in the “crypto universe” that concerns the BIS or its central bank member. It is the underpinning “permissionless” DLT, threatening their ability to maintain financial and economic control, that preoccupies them.
The BIS more-or-less admits this:
Crypto has its origin in Bitcoin, which introduced a radical idea: a decentralised means of transferring value on a permissionless blockchain. Any participant can act as a validating node and take part in the validation of transactions on a public ledger (ie the permissionless blockchain). Rather than relying on trusted intermediaries (such as banks), record-keeping on the blockchain is performed by a multitude of anonymous, self-interested validators.
Many will argue that Bitcoin was a creation of the deep state. Perhaps to lay the foundation for CBDC, or at least provide the claimed justification for it. Although the fact that this is one “conspiracy theory” that the mainstream media is willing to entertain might give us pause for thought.
Interesting though this debate may be, it is an aside because it is not Bitcoin, nor any other cryptoasset constructed upon any permissionless DLT, that threatens human freedom. The proposed models of CBDC most certainly do.
CBDC & The End of the Split Circuit IMFS
Central banks are private corporations just as commercial banks are. As we bank with commercial banks so commercial banks bank with central banks. We are told that central banks have something to do with government, but that is a myth.
Today, we use “fiat currency” as money. Commercial banks create this “money” out of thin air when they make a loan (exposed here). In exchange for a loan agreement the commercial bank creates a corresponding “bank deposit”—from nothing—that the customer can then access as new money. This money (fiat currency) exists as commercial bank deposit and can be called “broad money.”
Commercial banks hold reserve accounts with the central banks. These operate using a different type of fiat currency called “central bank reserves” or “base money.”
We cannot exchange “base money,” nor can “nonbank” businesses. Only commercial and central banks have access to base money. This creates, what John Titus describes—on his excellent Best Evidence Channel—as the split-monetary circuit.
Prior to the pseudopandemic, in theory, base money did not “leak” into the broad money circuit. Instead, increasing commercial banks’ “reserves” supposedly encouraged them to lend more and thereby allegedly increase economic activity through some vague mechanism called “stimulus” .
Following the global financial crash in 2008, which was caused by the commercial banks profligate speculation on worthless financial derivatives, the central banks “bailed-out” the bankrupt commercial banks by buying their worthless assets (securities) with base money. The new base money, also created from nothing, remained accessible only to the commercial banks. The new base money didn’t directly create new broad money.
This all changed, thanks to a plan presented to central banks by the global investment firm BlackRock. In late 2019, the G7 central bankers endorsed BlackRock’s suggested “going-direct” monetary strategy.
BlackRock said that the monetary conditions that prevailed as a result of the bank bail-outs had left the International Monetary and Financial System (IMFS) “tapped out.” Therefore, BlackRock suggested that a new approach would be needed in the next downturn if “unusual circumstances” arose.
These circumstances would warrant “unconventional monetary policy and unprecedented policy coordination.” BlackRock opined:
Going direct means the central bank finding ways to get central bank money directly in the hands of public and private sector spenders.
Coincidentally, just a couple of months later, the precise “unusual circumstances,” specified by BlackRock, came about as an alleged consequence of the pseudopandemic. The “going direct” plan was implemented.
Instead of using “base money” to buy worthless assets solely from commercial banks, the central banks used the base money to create “broad money” deposits in commercial banks. The commercial banks acted as passive intermediaries, effectively enabling the central banks to buy assets from nonbanks. These nonbank private corporations and financial institutions would have otherwise been unable sell their bonds and other securities directly to the central banks because they can’t trade using central bank base money.
The US Federal Reserve (Fed) explain how they deployed BlackRock’s ‘going direct’ plan:
A notable development in the U.S. banking system following the onset of the COVID-19 pandemic has been the rapid and sustained growth in aggregate bank deposits [broad money]. [. . .] When the Federal Reserve purchases securities from a nonbank seller, it creates new bank deposits by crediting the reserve account of the depository institution [base money] at which the nonbank seller has an account, and then the depository institution credits the deposit [broad money] account of the nonbank seller.
This process of central banks issuing “currency” that then finds its way directly into private hands will find its ultimate expression through CBDC. The transformation of the IMFS, suggested by BlackRock’s “going direct” plan, effectively served as a forerunner for the proposed CBDC based IMFS.
The “Essential” CBDC Public-Private Partnerships
CBDC will only be “issued” by the central banks. All CBDC is “base money.” It will end the traditional split circuit monetary system, although proponents of CBDC like to pretend that it won’t, claiming the “two-tier banking system” will continue.
This is nonsense. The new “two-tier” CBDC system is nothing like its more distant predecessor and much more like “going direct.”.
CBDC potentially cuts commercial banks out of the “creating money from nothing” scam. The need for some quid pro quo between the central and the commercial banks was highlighted in a recent report by McKinsey & Company:
The successful launch of a CBDC involving direct consumer and business accounts could displace a material share of deposits currently held in commercial bank accounts and could create a new competitive front for payment solution providers.
McKinsey also noted, for CBDC to be successful, it would need to be widely adopted:
Ultimately, the success of CBDC launches will be measured by user adoption, which in turn will be tied to the digital coins’ acceptance as a payment method with a value proposition that improves on existing alternatives. [. . .] To be successful, CBDCs will need to gain substantial usage, partially displacing other instruments of payment and value storage.
According to McKinsey, a thriving CBDC would need to replace existing “instruments of payment.” To achieve this, the private “payment solution providers” will have to be on-board. So, if they are going to countenance displacement of their “material share of deposits,” commercial banks need an incentive.
Whatever model CBDC ultimately takes, if the central bankers want to minimise commercial resistance from “existing alternatives,” so-called public-private partnership with the commercial banks is essential. Though, seeing as central banks are also private corporations, perhaps “corporate-private partnership” would be more appropriate.
McKinsey state:
Commercial banks will likely play a key role in large-scale CBDC rollouts, given their capabilities and knowledge of customer needs and habits. Commercial banks have the deepest capabilities in client onboarding [adoption of CBDC payment systems] [. . .] so it seems likely that the success of a CBDC model will depend on a public–private partnership (PPP) between commercial and central banks.
Accenture, the global IT consultancy that is a founding member of the ID2020 Alliance global digital identity partnership, agrees with McKinsey.
Make no mistake: Commercial banks have a pivotal role to play and a unique opportunity to shape the course of CBDC at its foundation. [. . .] CBDC is developing at a much faster pace than that of other payment systems. [. . .] In the U.S. at least, the design of a CBDC will likely involve the private sector, and with the two-tier banking system set to remain in place, commercial banks must now step up and forge a path forward.
[click to enlarge]
What Model of CBDC?
By creating the new concept of “wholesale CBDC,” the two-tier fallacy can be maintained by those who think this matters. Nonetheless, it is true that a wholesale CBDC wouldn’t necessarily supplant broad money.
The Bank for International Settlements (BIS)—the central bank for central banks—offers a definition of the wholesale CBDC variant:
Wholesale CBDCs are for use by regulated financial institutions. They build on the current two-tier structure, which places the central bank at the foundation of the payment system while assigning customer-facing activities to PSPs [non-bank payment service providers]. The central bank grants accounts to commercial banks and other PSPs, and domestic payments are settled on the central bank’s balance sheet. [. . .] Wholesale CBDCs and central bank reserves operate in a very similar way.
Wholesale CBDC has some tenuous similarities to the current central bank reserve system but, depending upon the added functionality of the CBDC design, increases central bank ability to control all investment and subsequent business activity. This alone could have an immense social impact.
The BIS continues:
[. . .] a more far-reaching innovation is the introduction of retail CBDCs. Retail CBDCs modify the conventional two-tier monetary system in that they make central bank digital money available to the general public, just as cash is available to the general public as a direct claim on the central bank. [. . .] A retail CBDC is akin to a digital form of cash[.] [. . .] Retail CBDCs come in two variants. One option makes for a cash-like design, allowing for so-called token-based access and anonymity in payments. This option would give individual users access to the CBDC based on a password-like digital signature using private-public key cryptography, without requiring personal identification. The other approach is built on verifying users’ identity (“account-based access”) and would be rooted in a digital identity scheme.
It is “retail CBDC” that extends central bank oversight and enables it to govern every aspect of our lives. Retail CBDC is the ultimate nightmare scenario for us as individual “citizens.”
While the BIS outlines the basic concept of retail CBDC, it has thoroughly misled the public. Suggesting that retail CBDC is the users “claim on the central bank” sounds much better than acknowledging that CBDC is a liability of the central bank. That is, the central bank always “owns” the CBDC.
It is a liability which, as we shall see, the central bank agrees to pay if its stipulated “smart contract” conditions are met. A retail CBDC is actually the central bank’s “claim” on whatever is in your CBDC “wallet.”
The BIS assertion, that CBDC is “akin to a digital form of cash,” is a lie. CBDC is nothing like “cash,” save in the remotest possible sense.
Both cash, as we understand it, and CBDC are liabilities of the central bank but the comparison ends there. The central bank, or its commercial bank “partners,” cannot monitor where we exchange cash nor control what we buy with it. CBDC will empower them to do both.
At the moment, spending cash in a retail setting—-without biometric surveillance such as facial recognition cameras—is automatically anonymous. While “token-based access” retail CBDC could theoretically maintain our anonymity, this is irrelevant because we are all being herded into a retail CBDC design that is “rooted in a digital identity scheme.”
The UK central bank—the Bank of England (BoE)—has recently published its envisaged technical specification for its CBDC which it deceptively calls the Digital Pound. The BoE categorically states:
CBDC would not be anonymous because the ability to identify and verify users is needed to prevent financial crime and to meet applicable legal and regulatory obligations. [. . .] Varying levels of identification would be accepted to ensure that CBDC is available for all. [. . . ] Users should be able to vary their privacy preferences to suit their privacy needs within the parameters set by law, the Bank and the Government. Enhanced privacy functionality could result in users securing greater benefits from sharing their personal data.
Again, it is imperative to appreciate that CBDC is nothing like cash. Cash may be preferred by “criminals” but it is more widely preferred by people who do not want to share all their personal data simply to conduct business or buy goods and services.
The Digital Pound will end that possibility for British people. Just as CBDCs in every other country will end it for their populations.
The BoE model assumes no possible escape route. Even for those unable to present state approved “papers” on demand, “varying levels of identification” will be enforced to ensure that the CBDC control grid is “for all.” The BoE, the executive branch of government and the judiciary form a partnership that will determine the acceptable “parameters” of the BoE’s, not the users, “privacy preferences.”
The more personal identification data you share with the BoE and its state partners, the sweeter your permitted use of CBDC will be. It all depends upon your willingness to comply. Failure to comply will result in you being unable to function as a citizen and ensure that you are effectively barred from mainstream society.
If we simply concede to the rollout of the CBDC, the concept of the free human being will be distant memory. Only the first couple of post CBDC generations will have any appreciation of what happened. If they don’t deal with it, the future CBDC slavery of humanity will be inescapable.
This may sound like hyperbole but, regrettably, it isn’t. It is the dictatorial nightmare of retail CBDC that we will explore in part 2, alongside the simple steps we can all take to ensure the CBDC nightmare never becomes a reality.
Part Two of this series is available on Iain’s SubStack.
You can read more of Iain’s work at his blog IainDavis.com (Formerly InThisTogether) or on UK Column or follow him on Twitter or subscribe to his SubStack. His new book Pseudopandemic, is now available, in both in kindle and paperback, from Amazon and other sellers. Or you can claim a free copy by subscribing to his newsletter.
SUPPORT OFFGUARDIAN
If you enjoy OffG's content, please help us make our monthly fund-raising goal and keep the site alive.
For other ways to donate, including direct-transfer bank details click HERE.
The world-monolithic-system contols over 95% of the world’s governments and uses these governments as the enforcement mechanism to implement it’s anti-humanity agendas. This is global totalitarianism on super-steroids, as one of this system’s agendas is to depopulate the planet by over 95% of it’s present population. The most powerful governments are the most insidious in implementing these human-destruction agendas. It’s not possible to coexist with totalitarianism, especially at this level. The ONLY way to successfully deal with totalitarianism is to eradicate it from the face of the earth primarily by guerilla warfare and tactics. Fortunately history has proven time and again that a determined minority, as few as 3-5% of the population, can and has defeated the most powerful enemy, even in modern times. The initial endeavor of the guerillas will be to kill down to insignificant numbers the police and military personnel, that do not side with the people that demand the chance to live in freedom with dignity, of the totalitarian state. This will usurp the state’s enforcement component. After that is accomplished the infrastructure of the totalitarian state can be destroyed. Finally the perps and their minions can all be rounded up and be Medievally disposed of. This is the ONLY two choices humanity has. Be stripped totally of all inalieable rights and all assets taken, and eventually euthanized; or organize and fight against the most heinous corrupted, totalitarian, world system in the history of the planet. Think Medieval to start; combat upgrade as your enemy falls; A Grazing Mace How Sweet The Sound…….
I don’t understand why there are any financial problems at all at present.
There’s a big Magic Money Tree and all you have to do is give it a good shake.
It provides unlimited cash for Ukraine whenever they want it.
More unlimited cash for Israel.
Unlimited cash for 5* hotels for illegal immigrants.
Unlimited cash for covid.
Unlimited cash for LGBT parades and ops for child trannies.
Any problems – just give the MMT a good shake.
Your oppressors own the money printing press.
This is meant as a reply to Jeff the Beast’s comment below:
Central Banks may very soon be launching “individual monetary policy”, one for each person and Iain is giving us a fair warning. But you don’t have to believe anyone, just visit BIS or BlackRock websites (these guys are highly considered and listened to by your representatives) and look for “exhausted monetary and fiscal policy”, also you may visit the website of the Central Bank and look for CBDC to see at what stage of implementation they are.
If you still think it’s nonsense, take a look at this video; just the first two minutes.
Instead of doing all of the above, which will only waste time and accomplish nothing, you should be organizing into guerilla armies, which may lead to accomplishing something positive for your salvation?
And at this point in time, how many conflicting guerrilla armies do you think there will be because they couldn’t agree on this or that point?
The big cogs of the system would love to be watching us from a safe distance so they’re not caught in the crossfire.
Not an easy dilemma, is it?
Many will and can come up with reasons to not do the only action necessary to survive the coming S.H.T.F. War., and by doing so, elect the increased oppression and sure death by government. That’s why history indicates that it has been the DETERMiNED minority that has defeated the most powerful enemy, even in modern times. That means it’s already happened, despite all the obstacles, many times. It’s the 3-5%, not the mass majority. It’s the people who will not accept tyranny and death by an oppressor, and are willing to do what’s necessary to have the chance to live in freedom with dignity. It’s the few who stand-for-something, have integrity, have principals that they stand by when least convenient, etc. It won’t be a walk in the park. Many will die. They may loose? But it won’t take place if these few determined souls don’t act and act accordingly. The rest of you can go back to sleep.
my reply?
There is a simple explanation: those who don’t justify premature action are not necessarily cowards. The time for action is as important as the passion for action and if a majority refuse to engage in revolutionary action it is because they’re not ready. Simple as that.
What does it say however that only a minority got to power? Not to underestimate their determination, courage or vision for the future, but what does it mean that the majority didn’t participate, didn’t back the movement of the minority? And once in power, what does History teach about the way in which this minority HAD to consider the sleepy ones, those who didn’t participate, weren’t ready, and therefore those who still accommodated – passively consented if you wish – themselves to live under the harsh conditions of the previous tyranny, because, let’s be franck, it was convenient, comfortable even amidst mystery.
Because the concern should not be limited to the point in time where tyranny was overthrown but should include – IMO but it seems so self-evident – the question of how the new situation fared afterwards.
What does History say about it?
Palaber, and anamolous banteing in circles with zero congruent plausable objective? And, seemingly applauding those who accept living under totalitarianism, which is not static, but by it’s very nature increases in oppression, impoverishing, and murdering daily. And, those, by doing so, accept this plight by aquiescence, cowaradice, ignorance, brainwashing, etc. And, presupposing and assuming the ‘freedom-fighters’ will prematurely engage the enemy, half-cocked so to speak, which won’t be the case. But, one must ask, when is the correct time to engage? After they kill you? And, so what, concerning the mass majority that through their life long aquiescing, going-along, knuckling under, and worshipping of their tyranny, have caused it’s inception, promogulation, festering, growing oppression? This upcoming storm and it’s struggle is not for them. If won, it will not be about them. If the aftermath causes them more or less ‘discomfort’ or even death, so what? This is not a war for those that had a huge hand in causing the need for this war. And, the aftermath of it no matter what side wins, will not be about them either, irregardless of whether it helps or hurts their plight. They have given up their right to participate in any spoils of victory by design by their worthlessness, and causation.
Drop the videogames… and Hollywood.
Is this a quip something that you copied off the wall in the trailor park’s community bathroom; or did it come from your handlers?
Only FUCKHEADS care about such nonsense…
Does the CBDC have to mean a new world currency with a roll out and a name? Maybe it will be done without most people even knowing, hidden behind existing currencies as the operating system, it will be said nothing has changed. Penalties may be gradually introduced but they will be called infringements and not unpopular. Some people must be made to have their jabs and pay for services. In France I believe tax can be taken directly out of your bank account.
As long as people allow totalitarian tyranny to exist, they are giving the cabal and it’s controlled governments a green light to keep on increasing their oppressive impoverishing murdering anti-humanity agendas and actions. And they will. Today it’s a fake plandemic, increased prices, food shortages, etc. Tomorrow it’s digital currency, increased food scarcity, more legislation that takes away more inaliensble rights. The day after that it’s poisoning of food and water. Involuntary taxing and blocking personal bank accounts for any reason they come up with, etc. More laws passed that eliminate freedom. Then it will be arresting anybody for speaking out for any reason they declare, etc. Placing those in F.E.M.A. re-education camps or dog houses in walmart parking lots to deal with the over-flow. Those deemed not redeemable will be euthanized. There will be false-flags along the way of this stepped-up totalitarian anti-humanity oppression, like limited-nuclear war, alien invasion, meteor/asteroid imminent danger that people will have to give up more inalienable rights to be protected from; what rights they have left, if any. There will be a national gun confiscation scenario, etc., etc., etc., etc. It won’t stop, and will keep on keeping on till over 95% of humanity is depopulated down to over 95% of it’s present population where a few totally controlled useful slaves to the elite will exist to do their bidding. Keep bitching, whining, and re-stating the situation over and over, quoting Jefferson, voting, marching, protesting, whjch all are accomplishing absolutely nothing, and green-lighting your oppressor to keep on keeping on. And they will and are. They are not only coming for the few inalienable rights you may have left, they are coming for everything you own, including your dignity, and they are coming for your very lives. In fact they are not coming—-they are here and have bern hede all along.
The Mark Of The Beast.
“It also forced all people, great and small, rich and poor, free and slave, to receive a mark on their right hands, or on their foreheads, so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of his name. This calls for wisdom. Let the person who has insight calculate the number of the beast, for it is the number of a man: the number is 666.”
6 foot tall
6 pac
6 figure$
Obviously, not you Klaus, however, I will extend you an exemption if I get dibs on the piano wire.
So? Kill the beast’s enforcement mechanism primarily by guerilla warfare tactics; then kill the beast!
Thanks Iain. An excellent article and very timely as I am about to attend a workshop on the decentralised uses of permissionless blockchain.
This part of your article sums it all up “Failure to comply will result in you being unable to function as a citizen and ensure that you are effectively barred from mainstream society.”
All their fancy words and phrases mean one thing – total control of the slaves.
I expect the ancient ways of barter and using local currencies will suddenly expand. The parasites will attempt to make this sort of trading illegal along with any activity which promotes self-sufficiency – e.g. keeping a few chickens and growing veges.
So important to organise yourself and your local community to set up alternative ways of surviving. With great numbers of decentralised small groups working together the parasites will not be able to control all of them. Fun and games ahead.
The financial/banking system are a multifaceted beast. Just to understand the basics is an achievement for outsiders; not that their priests don’t do the impossible to make the initiation into the “sacred sciences” of finance and banking a disheartening undertaking by indulging in repulsive jargon and, I have to say as a passionate of mathematics – in very dubious maths the use and abuse thereof some literature already exists. But it’s an important “science” we should be familiar with because it informs and is highly considered by policy makers which then make decisions that affect everyone.
One thing is certain: They’ve got BIG problems to solve; problems that have been dragging since the seventies of the last century some say, and which got more serious at each passing year. By the way, the expression “kicking the ball down the road” is often used in these circles which just shows how keen the priests of finance are on solving problems.
The object of Central Banks is to regulate the money supply in the economy (which includes, I suppose real economy and financial markets): when the economy is “overheated”, with too much liquidity and a threatening inflation, they drain the place by selling government bonds and cash in the extra money; they can also increase the level of required reserves for banks so as to make loans more difficult; finally, they can increase interest rates which makes deposits more attractive. In a recession with a deficit in money supply, they just reverse these three operations: buy government bonds, lower level of required reserves making loans easier and lower interest rates (which can go to zero and even negative: deposits lose their attractiveness or are clearly costly – the depositors pay interest for parking their cash in banks if interest rates are negative). This is called conventional monetary policy.
Now, since the GFC there has been some changes in the practices of CBs: Before 2008 these didn’t pay interest on the reserves commercial banks had therein, so that banks were encouraged to make that money work through loans to individuals and businesses so the economy grows; but since then, commercial bank reserves earned interest for just being idle in the CB which was therefore more profitable than making risky loans to individuals and businesses. The CBs then tried to get round this issue by lowering the IR it pays below what banks can get in low-risk loans so that it would be more attractive to lend; more importantly CBs tried to get money directly to the financial market bypassing commercial banks (which want to play safe) through buying corporate and government bonds from these markets (QE) but the money didn’t get out of these markets either and the only thing it did was inflate the prices of financial assets. One thing is clear: both commercial banks and financial markets saw more profit in interest-bearing Capital away from the two economy than in lending to the average Joe and promote growth and investments.
Even government regulations seem to conspire against financing Main-Street: after the subprime crisis of 2008, the – too simplistic – Dodd-Frank financial reform was passed penalizing banks and financial institutions for making risky loans which weakens their stock prices (their financial reputation).
The other problem is low interest rates (getting to near-zero and negative) which should in theory encourage commercial banks to lend and to lend at attractive IRs, their cost on deposits being low, but the practical effects was again for them to buy government bonds. The other practical – and psychological – effect is hoarding: on current low interest rates, people and businesses, instead of spending or investing tend to hold onto money until the IR gets satisfactorily higher to make deposits.
In short, in these times of crises, Central Banks are having a hard time getting liquidity to Main-Street through the conventional channels and get the real economy on the move.
That’s where “Going Direct” and programmable CBDC come in. Getting currency directly to the average Joe and the average business in the right amount, bypassing commercial banks and financial institutions which proved useless for the task. The format of the currency has to be digital, couldn’t be otherwise, and therefore digital ID, digital wallets are prerequisites.
The BIS and BlackRock have been sounding the alarm bells since 2019 on the exhaustion of monetary policies of Central Banks but also on the insufficiency of fiscal policies of governments. They recommended the coordination of both, mirroring the coordination of private-public sector. Central Banks would issue digital currency for pre-agreed upon spending at the individual or business level; what Melissa Ciummei called “individual monetary policy”.
Good explanation. As with all technologies, CBDCs could be used for good or ill.
The problem would appear to be that whilst the central bank could put a digital coin in Average Joe’s account (to get the economy moving), it could equally well take one out (to slow the economy down). Via the exact same mechanism. Or force Average Joe to buy jam rather than marmalade (though pre-agreements might mitigate that).
The ‘control’ aspect to “individual monetary policy” is, I suppose, what people find most disturbing
Yes, exactly. Having an algorithm monitoring and “correcting” human lives is – regardless of the good intentions of the programmers – indeed disturbing. On a symbolic level it means putting death above life.
We can say therefore that going direct and its corollary CBDC are a direct consequence of increased financialization and turning away from productive economy to threatening levels of getting Main-Street dry.
Are there frictions in the trio governments – CBers – financiers? Sure, but having a strong common interest in keeping a system of human management above their differences, they’ve always knew how to settle their disputes, and that’s always on the back of a third party. Guess who that is.
The problem that will arise won’t come from the disputes the big cogs of the system may have; it will come from the objective impossibility of implementing their common action.
Like it or not, the slow boil will continue and the majority will likely comply because they are too busy just trying to survive.
If you want to learn more about the history of money and central banks, can’t say enough about the 9 part series by Truth Steam Media, “The Trust Game”. Episode one is below.
[youtube https://www.youtube.com/watch?v=K-s72LSlwt0&w=560&h=315%5D
Oh good, this will mean peace and prosperity for the people of the region:
https://thecradle.co/article-view/22122/iran-discovers-worlds-second-largest-lithium-reserve
Obviously we won’t be seeing any and every excuse dreamt up to justify an asset grab….
Maybe this is why Israel has become such good friends with Iran. This is not generally reported in mainstream media, of course.
The blob is getting his knickers all wet just thinking about CBDC.
Skynet Rising: Why CBDCs Must Be Terminated Before They Go Live
“Contrary to the stories we are told, central banks are private corporations. These private corporations operate a global monetary and financial empire that is overseen and coordinated by the Bank for International Settlements (BIS).
The BIS does not come under the jurisdiction of any nation state nor intergovernmental organisation. It is exempt from all “law” and is arguably sovereign over the entire planet. As its current monetary system power-base declines, it is rolling out CBDC to protect and enhance its own power and authority.”
The only thing necessary to maintain a robust society is strong fiscal policy, as FDR had shown the world. After 40 years of mainly monetary policy, it’s become evident that central banks just aren’t really needed.
”The System of Money | Documentary | Money Creation Explained”:
Hello Human values: Yes. I reviewed this documentary about a month after release. It hits on the more obvious points of financial monopoly and intentional economic distortions.
The current and most salient situation is discussed beginning 1:29:15. > https://youtu.be/yLZUVsmUwZY?t=5356 Obviously, the IMF has been masquerading as a “helpful” institution since day one… Thanks for posting.
IMF dirty MF
Takes away everything it can get
Always making certain that there’s one thing left
Keep them on the hook with insupportable debt
And they call it democracy
I recently saw a made for TV movie called “Virtual Nightmare” which was like a poor man’s “Matrix”. But it had a novel twist. At the end the illusion of luxuriant surroundings completely vanishes, the inhabitants come to see they are living in a desert …. AND THEY DECIDE TO CARRY ON AS IF THE ILLUSION IS STILL THERE! That is “The Left”.
CBDC’s would only be the ‘endgame’ if they were the only payment option available.
More than likely they’ll sit alongside traditional options, such as cash and commercial bank cards. Certainly to the end of most our lifetimes.
The drive to remove cash (visible in your local supermarket/store today) would be more of a concern. And/or if Commercial Banks cease to operate (replaced with a Central Bank account instead for each citizen), then yep, endgame.
Competition (or otherwise) between Central Banks and Commercial Banks would be something to watch.
Commercial banks may yet prove the unlikely heroes in the saga. They’re unlikely to roll over and help facilitate their own demise imho. The perils of cutting out the middleman 🤔
“A unique looking program”
…
“I think I’ll get a better price by going direct”
…
“Never, ever, cut out the middleman”
( Darkdrive (1997) )
Eliminate or reduce smartphone use. Switch to a (more!) ethical bank. Reward ethical / local businesses, not corporations. There is always more one can do to starve the system, instead of just complaining. Be the example. Come on people!
I know “complaining” has taken a place of honor alongside dirty words. But consider for a moment that actually doing something is a very limiting activity with very limited results. To be effective, lots of people have to do the same something at the same time.
Whereas “complaining” is getting the word out to as many as will listen. Word of mouth – which is what a complaint is – should not be dismissed as a tool for effecting change.
Yes, complaints should be followed by action. But before we can act, we need to know what it is that’s wrong. And that’s where complaining comes in.
The rules banking law of deposits changed after the orchestrated banking bailout out of 2008, strange, that clever clogs in media haven’t mentioned this.They love screaming CBDC when they happily sell (shill) bitcoin and except how many different crypto-currency coins for donations and patoen via paypal (hypocrites).
I bet Iain was on universal credit during covid. (hypocrites).
When you now deposit your money tender into the bank, it now owes it. The whole thing was rigged the minute this money thing was invented. Dont mention that.
New banking laws..In the small print they can and well give you a percentage back, if and when lets say the bank goes tits up. It not like the bail in hasn’t been done before,
Just in case the fear blocks you from thinking.
Try this, go into the bank and pay 600 cash in to your family members account.
YOU cant in a majority of the banks.
Must be done online now. (fraud and prevention) sigh.
Going online they now ask, fraud prevention sigh, what prompted this payment? if it is to someone new. They then ask a series of questions. Really of putting.
Next -go into the bank and take 5k out. !! 80% of banks will refuse that amount and ask you a series of questions in why and what reasons and has something happened. (fraud and prevention) sigh.
Paying in 3.ooo pounds in the United Kingdom banks can flag up fraud. (fraud and prevention)!
Your arguing over bullshit sold to you by thoses selling fear – funded by the banking cartel into maneuvering you in to something different. I dont fully no what the new thing is but like bitcoin and crypto sold to the rebels in 2010 (after the orchestrated banking collapse) we was all told..
decentralized – Yer right…!!
The Dodd-Frank banking law gave banks the go-ahead to stop recording customer accounts as liabilities and to start recording them as assets. These accounting terms carry more weight than just about anything else on earth.
A liability: you owe. An asset: yours free and clear. Now if someone would just pass a law to allow debtors to start recording their debts as assets we’ll all be in business.
All very complex and technical, but is it going to work! At the present time states are piling into gold – the ultimate money – and out of valueless paper. Huge mountains of this paper ‘money’ have been accumulating and states are trying to pass themselves off as producing money but its a moot point whether or not the man in the street is going to recognise this brute fact.
Defenders of groovy progressive reason at the Graud:
“Anti-trans rhetoric took center stage at CPAC amid hostile Republican efforts”
The gist: evil Right Wing Rightist Republicans who are Right Wing are coming to torture and persecute little trans kids and deprive then of the mutilation that is rightfully theirs. Unfertilised ovums have the right to declare their pronouns and be vaccinated to save them from hatred.
And here is today’s sermon from the climate clergy (Graud, naturally):
“Emissions from the food system alone will drive the world past 1.5C of global heating, unless high-methane foods are tackled.”
Drum roll for Brother Lee Love:
“…the scientists said the temperature rise could be cut by 55% by cutting meat consumption in rich countries to medically recommended levels….”
Let’s hear it for “medically recommended levels”!
Hear the duality! Between “sustaining a growing population” (something with a foothold in actually) and “pursuing a secure climate future” (“knowledge” bestowed from above from mysterious “scientists” and “experts” and concerning peculiar abstractions).
“……and all this has been proved by science, comrades……” Squealer said, emphatically raising his trotter.
“scientists said” 😂 😂 😂 😂 😂
“Experts said” is my personal favorite. It’s more nebulous than scientist as almost any idiot can be an expert, right? FFS.
And in this article did the “Graud” fret over all the methane hydrates and clathrates thawing because geoengineering is trapping daytime heat and thereby increasing night-time “low” temperatures? Which in turn is helping the big thaw.
I bet they could kick themselves for forgetting that tidbit!
Protocol 10:
But you yourselves perfectly well know that to produce the possibility of the expression of such wishes by all the nations it is indispensable to trouble in all countries the people’s relations with their governments so as to utterly exhaust humanity with dissension, hatred, struggle, envy and even by the use of torture, by starvation, BY THE INOCULATION OF DISEASES, by want, so that the ____ see no other issue than to take refuge in our complete sovereignty in money and in all else.
Huh? ?? ???
The ever increasing role of BlackRock needs urgent review and reporting. Yet again the outfit has become involved in massive policy developments and continues to throw its weight around at both a business and national / international level.
But what if in reality this is nothing more than a Ponzi scheme of the most gigantic proportions – then the inevitable brick wall awaits.
Blackrock/ Vanguard, and a certain group of people forcing the woke agenda down everybody’s throats with $10 trillion of assets under their control. Not much diversity on their own boards though, surprisingly enough. And anyone who fails to comply with their agenda will face punishment, as Mark Carney helpfully explained.
Yeh, those two are tax avoiding criminal enterprises for the super wealthy. They should be dismantled.
Along with the elimination of all tax havens.
The digital control grid (death star) is almost complete. Resist or die, do not comply!
THIS Is How The Government Will Force You To Accept CBDCs.
Newsweek piece is calling for apologies & investigations– something to keep us busy while they spring the money trap. Isn’t there a governor or a mayor who will come out w an alternate currency?
it’s here
https://igorchudov.substack.com/p/an-opinion-piece-in-newsweek-is-calling
It will be interesting to see what happens in North Dakota – which is the only US state with a public bank. I’m not sure anyone knows how cozy they might be with the Fed.
Another ridiculous red herring from the “most credible of all the world’s newspapers”. Of course, this is based merely on a clumsy assertion, any proof is not provided to the systematically fooled audience. https://www.nytimes.com/2023/03/07/us/politics/nord-stream-pipeline-sabotage-ukraine.html
The MSM journalists and editors have moved to an evidence free position. While at the very same time shouting “coincidence” or “conspiracy theory” to any information that is fact based.
That’s the price of selling your soul.
They’re coming to a bank near you:
“Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as ‘internationalists’ and of conspiring with others around the world to build a more integrated global political and economic structure — one world, if you will. If that’s the charge, I stand guilty, and I am proud of it.” — CFR Chairman David Rockefeller in “Memoirs” (2002)
I think it’ll be like legal weed. Too many are just not going to play so it won’t work. Besides, in the US, with 70% of the population living paycheck to paycheck, most simply don’t have much money to spend. Garage sales, side sales, all that, that’s going to be too big, just like the black market for weed. Just like with the scamdemic, they can only go so far, then they’ll be found out. So maybe it is the end game, except that’s how we’re going to win, and they’ll lose.
That’s an old bank term…paycheck to paycheck, just saying. Paid monthly.
Ya, I’m an old banker. Come on, man.
If they link it to welfare, stimulus checks, Social Security payments, tax returns, pension payments and disaster relief funds, it may force us to accept it. Being aware of this scenario is the first step toward developing ways to resist it.
They’ll most definitely link it to any government program. I do not know for sure if they linked that damned vax to those programs, although I would bet anyone who was forced to leave their job due to refusal to take the poison was not eligible for unemployment, although most employers who tried to force the shot can call that fired for cause so there ya go. Don’t get UI for that.
If they can get us on a UBI then they’ve got their linkage to everyone.
But as Al says, a black market WILL develop, that’s just reality.
If ‘Crypto’ is beholden to electricity and/or electronically activated pulses, then it is no different to the ‘enigma’, machinery – which unfortunately proved to be as fragile as any other ‘code’ and totally hackable. Moreover, it is dependent on an electrical power source which can be manipulated. Have you noticed that the power-sources are being privatised, left-right & centre? At this point, we should all be aware of who is taking control of the power-sources … and it isn’t your parasitic government.
I suspect that it matters not how fiendishly, untraceable-cute, the code on your crypro is, it is s/he who controls the power who actually holds the aces. Hmmm, I wonder who that will be … ?
If you happen to be capitalising on your foray with crypro, do enjoy while it lasts. … I’m jealous.
There are more weaknesses than software, hardware and electricity. There is the loss of designated access device, identity theft and a monolithic bureaucracy even more dismissive of complaints than now.
Yup. The electrical and communications grids are made of thin sheets of paper. One EMP blast or operational sabotage, and it’s goodbye Irene. Would you like fries with that?
You can also lose your password/s, digital keys, etc. and not get access so you can’t replace them.
e.g. voice recognition technology may not work if you have the flu/cold or been to the dentist.
The principle at stake is whether monetary transactions should be private. Until recently there was not the computing power to make a virtual surveillance state. That has changed even without CBDC. The cash or ‘black’ economy was a an annoyance because it evaded taxation but it is probably quite small now in top tier countries. I doubt many people think their bank accounts are private. The acceptance of transaction surveillance has already happened.
“Most people” do however think their money is theirs – under CBDCs money belongs to the bank and you can access it if you fulfil your contract with them. That includes when, where and how you spend it.
People are not going to be relaxed about that so expect a multiple track approach involving obfuscation, “safeguards” and distraction.
I doubt there will be any anouncment or roll out, they will say nothing has changed. The only people who will notice or care will be the poison refusniks and the cash in hand mob who can’t complain if there are ‘sanctions’ for anti-social behaviour. We accept that tax is taken out of our pay, and have direct debits for electric and water with no real choice, what’s the difference? In France I believe the tax robot can take it directly out of your bank account.
Property is a different matter, it will need to be eroded slowly.
I read this article when it was first posted, and it is a tour de force regarding CBDC proposed implementation. So, thank you for that Iain Davis.
I’ve always thought of money as a social lubricant. Alas, bankers are wont to throw handfuls of sand into it…
Not in China, where people own and trust the PBOC, which just donated $162 billion of currency trading profits to the Finance Ministry to bolster fiscal spending.
They’re not wild about the CBDC. Uptake has been sluggish, but Beijing is persisting.
The corruption commission, for example, is urging civil servants to request their pay in e-Yuan, as a gesture of transparency.
Longterm, I suspect it’s just part of the vast national digitization program, designed to reduce friction, fraud, and corruption.
The CPC might pull it off because 90% of people trust the government.
And the reason 90% of them trust their government is that it has never lied to them, nor ever broken a promise.
I… … never mind.
So the “vaccines” in China are truly safe and effective? Safe and effective at what should be the pertinent question but whatever. But if that government tells its people that shot is totally safe, then that is a lie, period. Never been lied to?
Turns out the answer was simple Lizzy – eradicate household pets.
Here’s an example of how much control the Chinese government has over finance: >
The Secret behind China’s Ghost Cities
May 14, 2022
The Secret behind China’s Ghost Cities – YouTube
Regardless of the finely sifted narratives offered by official media, foreign investment companies have no intention of paying off the attached costs and massive debts. When pressed, they simply file bankruptcy through various international bank settlement mechanisms such as the Bank for International Settlements, and life goes on…
They are all deceptions and diversions to obscure the malevolent intent behind the global rollout of CBDC.
Oh dear. Iain, unless you can literally get inside someone else’s head. (And not even the dreaded “they” can yet do that) you don’t know what the intention is! And besides:
INTENT IS NOT RELEVANT.
I get that you’re angry and shaking your fists with fury at “them”. (You know, because there’s always a “them” who want to harm you, control you, and kill you.)
I read Animal Farm the other day for the first time. It’s quite short. And very cynical. I wonder how much Orwell’s writing might have contributed though to this sort of populist paranoia.
My problem is not that you are opposed to CBDC. (Sorry, in advance for the caps).
I AM ALSO OPPOSED TO CBDC.
But what I find so tiresome is the assertion that so many in the alternative media landscape make about intent. I have to repeat this:
INTENT IS NOT RELEVANT !
“But they’re evil, but they’re evil! you protest,” Huh, well I don’t care. I don’t care if they are “evil” or if they’re “not evil.”
Why don’t I care? Because it doesn’t matter! It doesn’t matter what motivates “them”. It doesn’t matter what lies in “their” hearts.It doesn’t matter why “they” do it.
It only matters that “they” do it!
And I’m not even saying that “their” intent is not “evil”. It may be. Yes, it may be. But “their” intent is of no consequence at all.
All that is relevant is what is actually done.
ALL THAT IS RELEVANT IS WHAT ACTUALLY HAPPENS.
That is all. you can’t get into “their” heads. “They” might even have “good” intentions. Yes, “they” might be benevolent dictators of the sort that CS Lewis warned of. To Lewis “benevolent” do-gooder dictators were the worst of all. Because “they” do what “they” do with the full approval of “their” own consciences.
It’s so tiresome, this endless endless split-personality “us v them” narrative. And people here claim to be “critical” thinkers. Well I like to think I’m an original thinker. So I might upset a few people with this comment.
Well, so be it. Few people in my experience ever listen. Few people in my experience ever pay attention. “They” all think “they” know best!
I blame Pink Floyd
Suppose knowing “why ‘they’ do it” allowed us to stop, minimize or otherwise mitigate the “evil” done, would knowing then matter?
Sorry Andre – is that for me or John?
Sorry. It was meant for John.
I must disagree. Intent IS relevant. “Their” intent is…to make money. And because that’s their intent, we know as day follows night that nothing anyone says or does will make one whit of difference in what they do.
If they were evil, even if they were demons from hell, we’d stand a better chance of reasoning with them than if their aim is to make money.
Simple as that.
Howard,
I’m with you all the way.
I’d guess their secondary intent is to make (even more) money. But the primary intent is total control. They are obsessed with control.
Er…. except I do know what the intention is because they’ve repeatedly told us.
With regard to “us verses them,” I can’t lie. I do have a problem with people who want to enslave other people. It is not something I support and I am quite willing to actively oppose “them.”
Who’s with me?
As for intent not being relevant, I’m not sure the legal profession would agree as they call it “motive.” And it is broadly considered to kind of important for establishing the facts. We can call it motive too if you like.
So we know what the motive behind CBDC is. The central bankers are seeking absolute control over everything we buy and trade and are excited about having the technology to enforce their rules. No guessing or extra-sensory perception required.
Seeing as we are all going to be invited to adopt CBDC, I must say that I do think understanding the motive of those offering it to us is reasonably relevant.
I agree that actions are far more important that motive. We haven’t accepted CBDC yet and this post was written in the firm hope that we don’t.
But when we look at what central banks have actually done, it is clear that CBDC is imminent. Given that we also understand the motive behind it, we are now in a better position to respond approriately when it is offered to us.
Don’t you think?
Hear hear ✊
Money has no value. It is based on agreements among some men, let’s call them bankers, politicians, earthly kings and priests.
Servants of Satan created money to enslave humanity. It’s just one of those sins.
Now the time has come to give all the power to who deserves it.
Money is fake, and changing the name or the symbol of money doesn’t change its nature.
Humanity needs a fresh take – on purpose and meaning.
But the controller of money DOES make a difference. If the controller wishes to enslave you it matters. Money isn’t fake; it’s a social agreement, and necessary for all sorts of calculation.
Calculations? If you mean mathematics, it doesn’t need money.
Money is not necessary. Most human history has been without it. Money was created in history, in time and place. Whatever has been created by men is not eternal.
The social agreement that was made by the slave owners or by those who took the land as their private property, all other people never agreed to it. People were born into this system that was created in another place by other people.
Social agreements are not eternal. Social agreements made by criminals are not legal or valid. Social agreements among the insane are not valid.
Money was created by deceivers, by thieves, and it’s been designed to benefit them.
Money is the biggest killer of all times. People are murdering people for money. How does that compute? Where’s the value of it?
Human life cannot be valued by money.
Nothing really can be valued by money. You just need to realize what money is. How it is made. What’s the basis of it.
Being brainwashed into believing that money is something real, that it has value, that it is necessary, well you can just snap out of it with knowledge.
Money is just numbers, created arbitrarily by the money owners.
Can you calculate the price of your life? How about the price of your baby? How about the price of your mother’s milk, the price of your labour, the price of your kidney? The money makers can count those. Because they just make that shit up. They put a price on you.
If you’ve accepted their prices, you’re owned by them. They tell you what your worth is. Just like they did to those people they stole from Africa and sold to your ancestors, your ”founding fathers”, slave owners, who stole the land of the people, murdered them and lied about it being good. There is nothing good or natural in making people pay for mere existing.
”How is Money Created? – Everything You Need to Know”:
Money – paper stuff – has no value, Gold does, and has been going for 5000 years.
Why do you think gold is valuable to you?
How valuable? What can you do with gold? Unless you’re able to sell gold, it’s worthless.
When you’re alone in the woods, or a desert, what use is gold?
It won’t keep you warm, it won’t feed you, it will not make you happy.
Most places require some kind of government ID card for you to function as anything other than a tourist. In Central and South American its known as a Cedula or DNI. Without it you can’t work, rent or buy property or do any financial transactions. European countries also have something similar, it looks a bit like the information page of a passport (similar format) and its produced frequently.
So claiming that a CNDC will cause something terrible to happen is just not true. Its already happened. Its just that many English speaking countries have an aversion to carrying identity documents so their introduction tends to be gradual, its an ongoing process rather than an overnight change.
Governments control cash so its very easy for them to declare that such and such notes are no longer legal tender. People can go on using old notes informally — the embargoes placed on Afghanistan after the US pullout for example meant that they’ve not had new notes for years — but eventually the notes wear out and are useless.
So I’m afraid that the ‘freedom train’ has long left the depot. Sorry. Instead of trying to prevent something that’s already effectively happened we need to focus on learning how to live with what is.
Baaaaaa
“thats just the way it is”
Cunt
The sheep will accept it without a murmur…
CBDC is not the end game per se. It is a key aspect of creating the conditions for the end game, a transhumanist society.
This is our best opportunity to try and live in a world without money. The less reliance on it the better the world will be.
To live in a more intelligent and advanced model of Humanity.
14 minutes long. But just wondered what those here might think of this video, if anybody’s interested. Cheers all.
https://m.youtube.com/watch?v=pbVfUl90P4Y
Thanks for posting. For anyone from America, you can go to this link and it will give you a way to send a message to your representative about this bill to stop the CBDCs:
Stop Digital Currency Tyranny — Enact H.R. 1122
https://jbs.org/alert/stop-digital-currency-tyranny/
Members of Congress are seeking to enact H.R. 1122. This bill would prevent the Federal Reserve from issuing a digital currency, which would decimate personal privacy and implement a full-fledged surveillance state.
Members of Congress are seeking to enact legislation to prevent the Federal Reserve from issuing a digital currency, which would decimate personal privacy and implement a full-fledged surveillance state.
H.R. 1122, titled the “CBDC Anti-Surveillance State Act,” is sponsored by Representative Tom Emmer (R-Minn.) and cosponsored by nine other representatives. If enacted, this bill would ban the creation of a Central Bank Digital Currency (CBDC); for example, it states:
Except as specifically authorized under this Act, a Federal reserve bank may not offer products or services directly to an individual, maintain an account on behalf of an individual, or issue a central bank digital currency directly to an individual….
The Board of Governors of the Federal Reserve System and the Federal Open Market Committee may not use any central bank digital currency to implement monetary policy
****
Also, does anyone here remember something Kit (I think it was him) posted about the Ukraine/Russia war and how it was strange they were in a war, but at the same time there was still some kind of business relationship going on (sorry, my memory has faded, but there was something still going on business-like, maybe with pipelines) that seemed inconsistent with being in a war. Does anyone else remember this or what article this was mentioned in?
Thank you.
The reason I”m asking is because someone posted this on another site:
“That graph of the World Fertilizer Index is more evidence countries like China and Russia are actually working with the fake administration to achieve BBB.
Team Work. Why not fake a war.”
Read Alison McDowell’s research. The Controllers are not afraid of DeFi or “permissionless” Distributed Ledger Technology, all of that is part of the Transhumanist Agenda. You just need to look at the latest books by Sandy Pentland to know that there’s nothing libertarian about crypto, it’s all about tokenization of every fucking thing.
Thanks for your comment Rodrigo. I’m about to attend a workshop on permissionless DLT and will also have another look at Alison’s website. What an amazing researcher that woman is.
They will own you and you’ll be happy.
And if you’re not well tough shit
well amigo, let us make it their “tough shit”.
fuck these cunts!
cypress hill, lol
I’d be impressed to see it amigo
we can dream…
Saddens me to say, I think that’s as close as we’ll get my friend
They will never own me. Rather die than live a slave.
The money system is a hoax and a criminal operation, and always was.
The future of it will not be decided by the criminals. The future of humanity will not be slavery for money anymore.
Believers in the money system usually have no idea what they do. They have given their lives to a false god made by men. They have given their lives to their enemy.
”This is the death of money. Money is over. It’s finished.” – Remarque88:
https://www.bitchute.com/video/xWkLnOojDu1Q/
When it’s either the false god or the Real God, guess who wins.
Retail will depend on wholesale, and wholesale is related to ESG. Nations or parts of nations will build so called NAC, Natural asset Companies. The currency between NAC is wholesale, wheras retail is a kind of ration slip for the human asset of an asset company. Their budget depends on ESG-score: when it is low, the assets will get lower ratios or part of it is culled. In this way the asset will never again have rights or claims to the owner of the nation-NAC. That is the MMT, modern monetary theory. Two different circles. China has this system yet.
http://iff.org.cn/php/list.php?tid=248
The asset companies are meant to privatise all planetary resources. Iain wrote on this earlier.
Think reminders could be helpful and also the prove of chinese active role.
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” ~ Henry Ford
So, thanks. We need more of this.
https://www.google.com/amp/s/www.nytimes.com/2013/07/21/books/review/tower-of-basel-by-adam-lebor.amp.html
Crypto suffers from two fundamental flaws. One is that it requires a large, well maintained, infrastructure to work (the Internet costs significant money and that has to be financed somewhere, somehow). The other is that there’s significant extra cost of transaction — it costs me nothing to give you a coin but I can’t just give you a Bitcoin, it relies on a vast infrastructure (which also extracts a significant toll for the transaction).
CBDCs sit somewhere between crypto and current cashless transaction systems. Using something like a credit card also attracts significant fees, 3% of a transaction being not unusual, but as this is usually hidden from the transaction people don’t think about it. CBDCs have the potential to substantially lower transaction costs, creaming off their slice of the transaction just like Value Added Tax or similar. The fact that they monitor your transactions is a fact of life — you either give the government that information directly or you give it to Visa where its available to the government as it sees fit. Cash might seem a way around this but in practice carrying any significant amount of cash around is likely to get it confiscated — not just stolen by criminals but confiscated as a potential proceeds of a crime or the product of tax evasion. (The UK also has a wonderful device called an “Unexplained Wealth Order” — if you have more assets than the government thinks you’re entitled to and can’t come up with a plausible reason for them then they can be confiscated)(we do the same thing routinely in the US — steal first, then you get to argue about it at leisure, the difference being the loot is shared among the local agencies that seized it).
I daresay that we (the People) will come up with our own version of tinned mackerel, The police will be required to hunt down illicit stores and shipments of the stuff (just like they do with drugs….). Plus ca change, plus c’est la meme chose, I suppose.
Fiat boom-and-bust costs much more than blockchains
Sounds fucking great to me
This link may at first seem irrelevant; but it is highly relevant because it helps show why something like CBDC can be so easily foisted on humanity. My only criticism is that it doesn’t go far enough: it doesn’t deal with the actual physical hypnotic quality of the smartphone engineered into it. But then, the article is from 2018.
Imagine a World Without Smartphones – Global ResearchGlobal Research – Centre for Research on Globalization
Word tells go way back, smart ie: money, phone…smartphone. smart wiring smart Home Security for you and your family. Come on Howard, really? Optics.
We are creatures of habit, triangulated so it’s perfect natural for us to enjoy feeling safe. Police Ambulance Fire Department.
Work Shopping Home..etc….
All this is wonderful in my opinion, privately it’s much more important we don’t become individualist robotic.
You know, I really doubt whether this CBDC is ‘the endgame’.
The way things are developing, I see only see total nihilism and a scorched earth policy as the end result of the insanity currently gripping all our politicians by the throat.
It is seriously satanic in its smell, and I reckon CBDC is only a stepping stone to the point of no return.
Sorry, but we either wake up as a species and do something pretty dramatic, or we just put up with the doom awaiting us.
The only other thing we can do as individuals, as I have often suggested, is to keep our imaginations lively, our thoughts rational and our voices clear.
Sooner or later, the inner life is going to matter a lot more than the outer one.
ole buddy,
it is society, not the mere politicians/celebs/tiktok/blughhh, evil ones…,
that need thrappled. we need a reset…? head to toe, cheese and toast. .
i see long, hard roads ahead.
and, without some “other”, humans seem intent on fucking shit up.
we’ll get there, on that Long Road, some of us are closer to Home hopefully,
and we’ll avoid that crater ledge yet!
: )
“Cover me brother. Sister can you Cover me. I’am alright God bless”.
Some of us have made a royal mess of tongs ☹
Difficult to take the article serious with a huge digital paywall.
This digital money horror story’s = fear porn have an agenda them selves
Dont forget that.
What paywall?
Which article with the alledged paywall are you referring to?
If you are still paying attention , you have not been paying attention.
I have continued analysing the deep reality of the Finance Insurance and Real estate sector, FIRE as Michale Hudson calls that economic sector. I fully expect that imminently the rebasing or re-calibration of the International currency will act as cover for an international devaluation of the dollar and the re-adjustment of Gold as a monetary specie will not occur as it did in the 70s but, Carbon credits will replace Gold. The big beef between China and Russia and the Five Eyes / EU Dollar Fed Axis is that Russia and China prefer Gold and Oil rather than the Energy proxy carbon credits which is a creature of Goldman Sachs and JP Morgan and the BIS crowd. I have started to value economic sectors now in terms of Price support schemes, those price support schemes will re-calibrate from Currency exchange rates based on the Sovereign bond market to Exchange rates based upon carbon credit rationing. I wrote a lot about the 16to 1 ratio at the end of last year and early this, as my blog is down as per the past two years’ posts, should hopefully have most of those posts up before the end of the weekend. I am working on a Humeian” is” basis and not an “Ought” basis.
When I say if you are still paying attention you have not been paying attention I really mean it. The CEO of SIRCO quoted in the guardian some years ago to the effect ( There are only 5000 key players in the world who need to know what we do), he was not joking, and it is true. In business, those who pay attention can do quite well with it but I will leave this message with a Quote from Unto this last.
“Pardon me. Men of business do indeed know how they themselves
made their money, or how, on occasion, they lost it. Playing a
long-practiced game, they are familiar with the chances of its
cards, and can rightly explain their losses and gains. But they
neither knows who keeps the bank of the gambling-house, nor what
other games may be played with the same cards, nor what other
losses and gains, far away among the dark streets, are
essentially, though invisibly, dependent on theirs in the lighted
rooms. They have learned a few, and only a few, of the laws of
mercantile economy; but not one of those of political economy.”