‘The Great Reset: Biopolitics for Stakeholder Capitalism’ Book Launch

From the capitalist point of view, digital transactions are cheaper and more efficient; and a system of digital payments that is standardized globally is the natural solution from that point of view. This solution dictates itself upon the actors, just like driving a car or bicycle demands a certain disposition of the body. Capital doesn’t like hybrid things, half digital, half analogical; some up-to-date software combined with old versions, etc.

Regarding CBDC, the raison d’être of Central Banks is to regulate the money supply and stabilise prices so as to encourage investments in productive entreprise and this lower unemployment. To achieve that goal they dispose of instruments the principal of which is the control of interest rate. The more IR, the less money is lent and the dryer is the market place.

When the IR is high, investment decreases and people generally hold onto cash or leave it in the bank; as a result prices fall for sales drop; workers are discharged and no new workers are taken, hence unemployment increases with deflation. Poverty increases as people only spend what’s necessary.

When IR is set to low values the reverse phenomena are roughly observed, of which the major problem is inflation which it doesn’t follow that it increases below wages.

So Central Banks regulate the IR according to the market signals. Now, since GFC an odd combination of both low interest rates and low inflation has been observed steadily observed, meaning that even money was cheap, people weren’t making loans and prices were low and no spending; this can symbolically be regarded as a distrust towards the monetary system and the expectation of low profit and hence a threat to the system. Also, commercial banks were investing their reserves in financial instruments rather than making productive loans. This has been going on for some time and put Europe, UK, US and Japan in trouble as their economies were slumping. To remedy to this problem, the Central Banks have to lower even more the IR, but the IR is zero-bound as it can’t be made equal to zero. Why? Because 0% is the interest rate of cash: I got $100 today, I still get $100 tomorrow, so that if customers see a pattern of a dwindling IR, when it arrives to zero or nears zero people can be tempted to draw all their money in cash as their keeping it at the bank is no better than having it under the materess and they fear if the IR goes negative, parking money at the bank becomes a cost. This run would happen at anytime the IR is tending to zero. In a word, near zero interest rates is a risk for banks that can deprive them of their ammunition (reserves).

But banks have to lower the IR because there is not enough loans made for investment and so what the banks did was to offer negative interest rates to a certain class of wealthy people (not common bank customers) expected to make productive investments. Negative IR were applied then to productive sector and produced some odd results (some say it achieved its aims) but didn’t crash the system.

To find an integral solution to this problem (low IR + low inflation) there was the problem of common customers – who might be part or not of the productive sector – and to which however it was too risky to apply negative IR for the run that would happen (customer would pay for having their money parked). To avoid the banks running out of ammunition and the domino effect that could produce globally, it was thought that if the currency didn’t take the form of cash to which 0% was the inherent IR, but rather the IR could always be applied to it as a feature, the risk of bank runs could be solved and thereby applying an adequate IR to the currency so as to get the desired money supply in the market. Here comes CBDC.

So, IMO it is not somebody’s desire to control the population; it is yet the nth proposed fix to keep the system – let’s be frank here, without approving nor disapproving, – of which we so intimately depend; so intimately in fact that we don’t even think about it and take it for granted, such as having running water)

Another insight into CBDC and Capital:

https://off-guardian.org/2022/03/19/ukraine-crisis-accelerating-rise-of-central-bank-digital-currencies/#comment-492971

Like all the so called “Great Wars”(WW1,WW2 etc) and “Great Fires”(Alexandria, London, New York, Chicago etc), the “Great Reset” is the latest “Golem” to be raised up by the Satanic elite against us.

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Resist now!!!…Don’t comply!!!

Together we will turn the “Great Reset” monster back to clay.

In solidarity with everyone of you.

Peace