Cryptocurrency: CBDC Digital Fiat WARNING BELLS GOING OFF
Lol. For those that still foolishly worship Politicians GovBank and generally still have their head in the sand... 1984 warnings are everywhere, just say NO to Digital Fiats and CBDCs. Say NO, right now. Countdown To Governments Default https://economicprism.com/countdown-to-u-s-government-default/ https://www.nakedcapitalism.com/2022/03/the-world-quietly-took-another-step-... https://www.youtube.com/watch?v=VYOEvurCVuk https://www.whitehouse.gov/briefing-room/presidential-actions/2022/03/09/exe... https://www.federalreserve.gov/publications/files/money-and-payments-2022012... Central Bank Digital Currencies (CBDC) are coming. And they’re coming much faster than most people care to think about. Are you ready? At the moment, roughly 90 central banks – including the European Central Banks and the Federal Reserve – are either experimenting with, or are in varying stages of CBDC implementation. Moreover, these CBDC friendly central banks include all G20 economies. And together, represent more than 90 percent of global GDP. What’s important to understand is the adoption of a CBDC in your country of residence would accompany the abolition of cash. This would be for your own good, of course. To eliminate nefarious transactions and black markets. If you value financial privacy and the liberty to spend your money as you please, then the rapidly approaching rollout of CBDCs is a major red flag. Compulsory use of a CBDC, like a digital dollar for example, would give central planners complete oversight and control over your finances. You see, under a CBDC regime – free of cash – all of your transactions would be subject to government surveillance. All remnants of financial freedom, privacy, and anonymity would be destroyed. But that’s not all… CBDCs would allow control freak, power mad central planners to do much more than spy and surveil your financial transactions. CBDCs would allow them to control how and when you spend your money. This may sound crazy to a sane person, who operates with a modicum of modesty and integrity. But, in truth, this is one of the main intents of CBDCs. In fact, several years ago Bank for International Settlements General Manager Agustin Carstens outlined the extraordinary powers CBDCs would afford central planners. Here are the particulars from Carstens himself: “There is a huge difference [between CBDC and cash]. For example, with cash we don’t know who’s using a 100 dollar bill today. We don’t know who’s using a 1,000 peso bill today. A key difference with the CBDC is the central bank will have absolute control under rules and regulations that will determine the use of that expression of central bank liability, and we will have the technology to enforce that.” Do you get it? The central planners want absolute control over how you spend your money. This includes the U.S. government too… Traceable And Programmable On March 9, the Biden administration released an executive order (EO) requiring several federal agencies to study digital currencies and to identify ways to regulate them. A big part of the EO is focused on blockchain based cryptocurrencies like bitcoin and ethereum. However, within the EO, Biden also directs the federal government and Federal Reserve to lay the foundation for a potential new U.S. currency, a CBDC – perhaps, a digital dollar. Specifically, the EO directs the U.S. Treasury, and other federal agencies, to study the development of the new CBDC and report back within 180 days of the potential risks and benefits of a digital dollar. The EO also directs the Treasury Department, Office of the Attorney General and Federal Reserve to produce a ‘legislative proposal’ to create a digital currency within 210 days, about seven months. The digital dollar is coming, and it’s coming quick. To be clear, the adoption of a digital dollar by the U.S. government, as Biden intends, would be one of the greatest expansions of federal power ever made. The digital dollar would be much different than a digital version of the existing U.S. dollar. It would also be much different than cryptocurrencies like bitcoin and ethereum, which are decentralized. Digital dollars would be traceable and programmable. The Federal Reserve, or some other government agency, would have the ability to create digital dollars at whim. Moreover, the digital dollars could be programmed to have various rules and restrictions governing how and when they are spent. Earlier this year, in Federal Reserve published report about the development of a CBDC, the Fed provided examples of possible ‘design choices’ for a digital dollar, including that “a central bank might limit the amount of CBDC an end user could hold.” Biden’s EO plan for a digital dollar also includes design choices that will give the federal government total control over financial freedom and the economy. The EO even states the CBDC and other policies governing digital assets must mitigate “climate change and pollution” and promote “financial inclusion and equity.” This is a major focus.
From this, we can speculate that financial inclusion and equity means wealth redistribution. And climate change mitigation means restrictions to fossil-fuel use. These, and other government dictates, like the direct subtraction of taxes and fees from your account, would be programmed into the digital dollar.
Why now… Blowback U.S. and European Union sanctions against Russia, including cutting Russian financial institutions off from SWIFT and preventing the Russian Central Banks from using its foreign currency reserves, may prove to be a strategic blunder. The blowback potential is real, and is already happening. Europe, which depends on Russia for 40 percent of its natural gas, is now reaping the whirlwind. According to Bloomberg, Putin has signed a decree demanding payment in rubles for Russian gas supplies starting April 1 (today). Will Europe submit? There are rumors European nations are already covertly buying rubles. The ruble’s increase on the foreign exchange market to pre-invasion levels certainly hints something is in the works. Regardless, the U.S. is losing control over the international financial and payment system. By freezing Russia out SWIFT, Putin is being forced to look for other alternatives. Specifically, China has been developing its own Cross-Border Interbank Payment System (CIPS) as an alternative to SWIFT. Sanctions against Russia may further accelerate the use and adoption of CIPS by nations that are opposed to western influence. Cryptocurrencies and blockchain technology also offer banks and individuals ways to move payments without using dollars or SWIFT. The very success of the weaponization of the legacy financial system by the U.S. and Europe is driving Russia and others into such alternatives. Hence, fewer international transactions in dollars could undermine the dollar’s reserve currency status. This would have serious implications for the U.S. economy, as the dollar would likely suffer a significant devaluation. In the U.S. consumer price inflation (official) is already at a 40 year high. Unofficially, it’s higher than it has been in over 100 years. Between the financial war being waged, raging consumer price inflation, a $30 trillion national debt, trillion dollar deficits, and unfunded liabilities running into the hundreds of trillions, something’s got to give… …namely, the U.S. dollar. Countdown to U.S. Government Default The popular American myth is that the U.S. government has never defaulted on its debt. Quite frankly, that’s unadulterated hogwash. The U.S. government has (unofficially) defaulted on its debt twice within the last hundred years. Executive Order 6102 of 1933, which forced all American citizens to turn in gold coins and bars, was, in fact, a default. Gold ownership in the United States, with some small limitations, was illegal for the next 40 years. Under EO 6102, Americans were compensated $20.67 per troy ounce of gold. They were paid with paper dollars. Immediately following the government’s gold confiscation, the price of gold was raised by the Gold Reserve Act of 1934 to $35 per ounce. Just like that, American citizens were robbed of over 40 percent of their wealth. The second default occurred in 1971, when President Nixon “temporarily” suspended the convertibility of the dollar into gold. Prior to 1971, as determined by the Bretton Woods international monetary system, which was agreed to in Bretton Woods, New Hampshire, in July 1944, a foreign bank could exchange $35 with the U.S. Treasury for one troy ounce of gold. After the U.S. reneged on this established exchange rate, when foreign banks handed the U.S. Treasury $35, they received $35 in exchange. In both instances, the U.S. government didn’t overtly default on the debt. Instead, it changed the fundamentals – the terms and conditions – of the dollar. By all honest accounts, these are defaults. Similarly, the issuance of a digital dollar (a Fed issued CBDC), which is traceable and programmable, changes the terms and conditions of the cash dollar. Make no mistake. This is a default…and you won’t like it. Moreover, per Biden’s EO, this default could happen as soon as T-minus 210 days from March 9 – or as soon as October 4th. If that doesn’t give you a warm and fuzzy, we don’t know what will.
You've been warned for years and have done NOTHING to get up off your lazy ass and stop CBDC's and Digital Fiat. Make NO MISTAKE, they've been warring against cash for decades, and they *will* discontinue cash once you let these roll out. Here's more proof of how bad you will be fucked... https://cryptopotato.com/fed-chairman-confirms-that-a-u-s-cbdc-would-not-be-... https://old.reddit.com/r/CryptoCurrency/comments/xpo0kj/fed_chairman_confirm... US Federal Reserve Chairman Jerome Powell said that a central bank digital currency (CBDC) in the US would “not be anonymous” during an event hosted by the Bank of France on Tuesday. The CBDC would be guaranteed to have four characteristics: Intermediation, privacy protection, interoperability and identity verification.
More CBDC and FIAT and control program from the GovCorp and Globalist top DO NOT, CANNOT and WILL NOT fix anything, and will NEVER grant you freedom, only privacy-enabled p2p cryptocurrency wielded by your hands can do that. https://www.youtube.com/watch?v=lJoXwh0Vu9M "Our" inclusive language controls you, don't fall for their emo SCAM, it's a trap. https://www.edwardjayepstein.com/archived/moneyclub.htm If Red States Want Protection From Collapse They Will Have To Build Alternative Economies Authored by Brandon Smith via Alt-Market.us Economic centralization is the ultimate form of organized conspiratorial power, because it allows a small group of people to dictate the terms of trade for a society and therefore dictate the terms of each person’s individual survival. For example, the Federal Reserve as a banking entity has free rein to assert policy controls that can disrupt the very fabric of the US economy and the buying power of our currency. They can (and do) arbitrarily create trillions of dollars from thin air causing inflation, or arbitrarily raise interest rates and crash stock markets. And according to former Fed chairman Alan Greenspan, they answer to no one, including the US government. I have started to see a new narrative being spread within mainstream media platforms as well as alternative media platforms suggesting that the Fed is necessary because it is working to “counter” the agenda of Joe Biden and the Democrats. Some people claim the central bank is “protecting” America from the schemes of the UN and European interests. This is perhaps the most moronic theory I’ve ever heard, but it makes sense that the central bank and its puppets would be trying to plant the notion that the Fed is some kind of “hero” secretly fighting a war on our behalf. The money elites associated with the Fed have inflated perhaps the largest financial bubble in the history of the world over the past 14 years. They did this with bailouts, they did this with QE, they did this with covid pandemic checks and loans, and now the bubble is popping. They know it is popping, because they WANT it to pop. As I have warned for years, the Fed has been staging a massive controlled demolition of the US economy. Why? Because the US economy must be diminished in order to make way for the “Great Reset,” a term created by the World Economic Forum to describe an unprecedented paradigm shift in the global economy and how it operates, and a complete upending of society. The end game is openly admitted – A one world digital currency system and one world governance controlled by a league of corporate partners working in concert with politicians. This is not conspiracy theory, this is conspiracy reality. This is undeniable fact. The Fed does not care about the US economy, its loyalty is to a global agenda and it takes its marching orders from a consortium of banking institutions called the Bank for International Settlements (BIS). This is how global central banking policies are coordinated to either work in harmony to create artificial stability, or to work in conflict, creating artificial crisis events. The truth is, the foundations of global governance already exist, but what the establishment does not have is public acceptance and total submission to their authority. What the banks want is to create a crisis so profound that the masses will run to THEM, begging for help. Once a population begs their captors for relief or resolution and it is given, it’s far less likely that the people will revolt against those captors in the future. Psychologically, the central banks and the establishment elites are trying to create a planetary Stockholm Syndrome, and we are seeing it already with the Federal Reserve being painted as the “shield” holding back the tide of economic ruin that they actually engineered. The initial stages of the Great Reset have already been launched. With the economic bubble expanded to incredible levels, the Fed is now staging an aggressive implosion using interest rate hikes into economic weakness. There are multiple threats that come with this dynamic: Stagflation With stagflation, normal credit market interventions do not necessarily work right away. As we saw recently with the official CPI print rising despite the Fed’s rate hikes, prices are not going to go down that easily. During the last stagflation event 40 years ago, the Fed raised rates to around 20% before prices finally stopped their epic climb, and back then the US did not have $31 trillion in debt nor did it just print over $8 trillions in the span of two years. Rates are likely to go much higher than many people expect. Treasury Bond Crisis The Fed replaced foreign investors like Japan and China as the primary buyers of US government Treasury Bonds, and they did so years ago. Now, with the Fed cutting purchases, reducing its balance sheet and raising rates, who is going to buy all that US debt and keep the government funded? Well, the answer is no one. For now, foreign purchases are enough to give a semblance of stability, but with geopolitical tensions rising it’s only a matter of time before countries like China dump their T-bond and dollar holdings completely. Then, the dollar’s world reserve status will come into question and inflation becomes an even greater threat as the trillions of greenbacks held overseas come flooding into the US again. Stock Market Spiral Without the Federal Reserve as the backstop fueling corporate share buybacks with cheap money, stocks will continue to slide. They’ll jump every now and then on rumors that the Fed will pivot away from tightening, and when the Fed doesn’t, stocks will start dropping again. Without stimulus and near zero rates there is no hope for equities beyond the occasional jawboning. The Fed has the ability to slow down or speed up all of the conditions above, and so far they appear to be speeding things up. We obviously can’t rely on the Biden Administration to do anything about these problems; in all likelihood Biden and his handlers are joyful in the prospect of the inevitable calamity. No one in government is trying to do anything legitimate to stop the landslide and no one is trying to prepare Americans for the consequences. In fact, Americans are being told there are no consequences. Thus, it’s up to individuals to prepare and warn their friends and family, but what about a larger organized response? Despite numerous claims that conservatives would “do nothing” to stop the rise of medical fascism in the name of the covid pandemic, almost half the states in the US stood their ground against the mandates and the push for vaccine passports. If this had not happened, America would look like China does today with endless lockdowns and draconian tracking apps. I don’t think enough people understand just how close we came to losing every freedom we have left – We were on the doorstep of an Orwellian hell, and probably civil war. The red state defiance of covid restrictions represented an organized action at the state and interstate level. What if these states did the same thing in the face of the economic crisis? Without organization at the state level to create alternatives to the mainstream economy the plight of the public becomes much more daunting and dangerous. Rather than trying to start completely from scratch, there are solutions that can be pursued at the state level to help mitigate the disaster. Currency Alternatives States like Texas, Utah and Louisiana (currently Dem controlled) all have legislation in place to utilize gold and silver as legal tender. Such efforts need to be expanded to as many states as possible, and the list of alternatives needs to grow. Gold, silver, copper, and other commodities like oil, electricity, wheat and grains could be used to back a state recognized currency system. Is it constitutional? Not technically, but the federal government violated the constitutional money creation mandate over a century ago when they allowed the institution of the Federal Reserve. The system is already broken. If states were to offer commodity backed currencies in parallel with the dollar, then they could actually stave off price inflation and possibly reverse it. This can’t be achieved by only one or two states, though. It would have to be organized among multiple states with multiple trade agreements in place. State Banks North Dakota has its own state run bank that provides credit opportunities specifically to ND locals and ND businesses. It has operated successfully for decades. Why has no other state adopted this model? Why should we rely on banks that are all tied back to corporate conglomerates that want to destroy us? State banks are the answer to the problem of leftists and globalists using corporate banks as a weapon against conservatives and liberty activists. Localized Trade Alternatives States should be utilizing the resources within their own borders to generate real jobs (rather than precarious and temporary service sector jobs) and economic prosperity. Why are states and citizens in those states allowing the federal government under Biden to dictate the terms of how they grow their economies? Leftists will claim that resource management needs to be supervised by federal agencies, but why? These people have consistently proven themselves to be incompetent and destructive. Why should they be trusted to control our ability to expand in our own states? Conservation and intelligent handling of state resources should not be relegated to bureaucrats who live outside of those states and who care nothing about the citizens of those states. State Incentives For Industry The vast majority of retail goods purchased by US citizens are made outside the US. It is a simple matter of profit incentives involving cheap labor overseas. But, what if there were big tax reductions for companies that manufacture in America? What if state banks offered easier credit to companies that build factories within that state’s borders and hire American workers at a reasonable wage? It can be done in the US – It’s been done in the past. If we don’t restart domestic production, our country is doomed to remain dependent on international corporations and foreign entities that do not have our best interests in mind. The only hope any state has to weather the coming storm is to localize production and manage their resources to kick-start trade. Local production would act as a redundancy should the mainstream economy collapse (which it will). States don’t need Biden’s permission to make this happen. They don;t need the Federal Reserve’s permission either. They can and should take action now before it’s too late.
Are you sheep awake yet? Hello ?!?! Time to Wake Up !!! IMF Chief says Central Bank Digital Currency should be used alongside Social Credit System to control what people can and cannot buy. https://expose-news.com/2022/10/19/imf-cbdc-social-credit-score/ https://twitter.com/nopara73/status/1581303361860927491 Can you imagine what'd happen if the government could track everything you bought? https://rumble.com/v1mny36-ed-dowd-covid-and-the-global-financial-collapse-a... https://twitter.com/BernieSpofforth/status/1585576453952905219 @GBNews: RISHI ‘TRUDEAU’ - at COP 26. ‘We want to rewire the entire global financial system for net zero' Read that again. Don’t say you weren’t warned! https://en.wikipedia.org/wiki/Gosbank State Bank of the USSR was the central bank of the Soviet Union and the only bank in the entire country from 1922 to 1991. Gosbank was one of the three Soviet economic authorities, the other two being "Gosplan" (the State Planning Committee) and "Gossnab" (the State Committee for Material Technical Supply). https://twitter.com/BandyGit/status/1581677150511300609 The GM of the BIS, Oct 2020: ‘In cash we don’t know who is using a $100 bill today…a key difference with the CBDC is that central bank will have absolute control on the rules & regulations that will determine the use of that expression of central bank liability.’ #UseCash https://twitter.com/SBF_FTX/status/1582835613601890304 Hi, I'm a piece of shit too. https://www.wsj.com/articles/biden-establishes-a-ministry-of-truth-disinform... https://www.bis.org/publ/arpdf/ar2021e3.pdf The technology ... equally induce a vicious circle of data silos, market power and anti-competitive practices. https://twitter.com/Resist_05/status/1584344875964588033 Klaus Schwab says the word won’t be run by superpowers such as the US/China… it will be run by WEF stakeholders such as BlackRock/Bill Gates. https://www.youtube.com/watch?v=btF6nKHo2i0 John Perkins: Economic Hitmen "We're not Conspiracy Theorists, we're the fucking Resistance. Stick your New World Order up your Arse!" The Beast from the Earth Rev13:16 And he causes all, the small and the great, the rich and the poor, and the free and the slaves, to be given a mark on their right hands or on their foreheads, 17 and he decrees that no one will be able to buy or to sell, except the one who has the mark, either the name of the beast or the number of his name. 18 Here is wisdom. Let him who has understanding calculate the number of the beast, for the number is that of a man; and his number is six hundred and sixty-six. https://twitter.com/WhatBitcoinDid/status/1573283006835482624 https://www.youtube.com/watch?v=MMuIyspn7s0 Balaji Srinivasan's thoughts on Communist Capital vs. Woke Capital vs. Crypto Capital. The core mandate of CBDCs is: "You must submit". Bitcoin allows anyone to fight back by being self-sovereign. IMF Chief says Central Bank Digital Currency should be used alongside Social Credit System to control what people can and cannot buy The deputy managing director of the International Monetary Fund (IMF) recently explained how Central Bank Digital Currencies (CBDC) can be programmed to determine what people are allowed to buy and insisted they should be used alongside a China-style Social Credit Score system. Unlike cryptocurrency, which is private, Central Bank Digital Currency (CBDC) will be issued and controlled by the central banks themselves. In many ways, it’s the same as banknotes, but that every single transaction will be monitored for compliance. By `Sikh for Truth' of Truth Talk On Friday 14th October, the IMF streamed a meeting called “Central Bank Digital Currencies for Financial Inclusion: Risks and Rewards.” Speakers were Her Majesty Queen Máxima of the Netherlands, who’s also the UN Secretary-General’s Special Advocate for Inclusive Finance for Development. Kristalina Georgieva, Managing Director, IMF, and Bo Li, Deputy Managing Director, and finally Cecilia Skingsley the BIS Innovation Hub Director. The meeting was about global financial inclusion, which they said had improved over the past ten years, but almost a quarter of the world’s adult population are still unbanked. It’s hoped that central bank digital currencies would be affordable, widely accepted, and safe instruments, which would address some of the issues surrounding financial inclusion, among other things. The live stream went under the radar for many but our buddy Tim Hinchliffe over at The Sociable kept an eye on what was going on. Tim posted a video of Bi Li, the Deputy Managing Director of the IMF, explaining how CDBSs can be programmed. He said: “The smart contract would allow targeted policy functions, like welfare payments, consumption coupons, food stamps, etc.” “With CBDCs, we can precisely control what people can and can’t own. Also, what kind of use this money can be programmed for, like food only.” – Bi Li The key word he used was programmability. Source Bo li went on to say that because of this potential programmability, government agencies could precisely target support packages to the right people. He went on to say that: “CBDCs can’t solve every financial inclusion challenge, but they can work together with financial literacy and digital literacy.” So, a CBDC would work with other policies like digital identities and digital wallets. This goes hand in glove with what the World Bank Group described in November 2021. “Digital identity verification is essential to the operation of CBDCs, particularly in cross-border transactions. “ “Tradable digital assets must be tied to a digital identity system, which in turn should be tied to an automatic KYC and AML/CFT verification system.“ “This is a foundational step to the potential use of CBDCs, and emerging developments in regulatory and compliance technology may benefit central banks’ experiments in the digital currency space.” Bo li described a CDBC as an eco-system, and that the data it would produce would be very valuable to third parties. When questioned on how this transactional data could be used, Bo Li explained: “I can give you one example in China, those transaction data can be utilised by service providers in credit underwriting.” Underwriting is the process by which the lender decides whether an applicant is creditworthy and should receive a loan. “Those transaction data in terms of how many coffees I drink every day, where I buy coffee, do I use UBER every day and what kind of working hours I have.” “Those non-traditional data can be very useful for financial service providers to give me a credit score and based on that credit score the service providers can give me a credit line without any face-to-face due diligence.” He continues to say that this “will create value in addition to finance and that data can be very profitable, and that’s the value we are talking about to make it attractive to private sector players to join this eco system.” It’s like the Chinese model, but every country has the option to do it differently. There is limited privacy. The IMF, World Bank, and BIS are also managing many central banks on these new products. On the issue of data privacy, Cecilia Skingsley the BIS Innovation Hub Director explained: “What we just heard from Bo about credit scoring was a very good example of how different countries will take different journeys to a ‘new world’ where they serve their societies in the digital space.” “We will all have different preferences and this preference on privacy or anonymity is tricky”. And she continued to say, “That its worth to give up a little bit of privacy to get security”. We’ve heard that before, right? 15/10/22 - het @koninklijkhuis roert zich diep in het failliete bancaire stelsel. Waarom? Omdat elite graag rijk blijven. Zonder vervangend stelsel zijn de Oranjes immers even arm als u. De Oranjes hadden +10jr. nodig om het financiële stelsel te resetten https://t.co/k0kXl2v7Y2 pic.twitter.com/3fyW2bUjwY -- Denachtzuster(s) (@Denachtzuster1) October 16, 2022 Sharing of transactional data was further emphasized by Her Majesty Queen Máxima of the Netherlands in her opening remarks. She said: “A good design of CDBC could give people more control of their transactional data and their ability to share it with a wider set of financial sector providers”. Most recently according to Federal Reserve Chairman Jerome Powell, CBDCs won’t be anonymous and will be identity-verified, so their transactions will be made public, supposedly to these third parties. Let’s not forget that earlier this year at the World Government Summit aptly titled a ‘New World Order’, the economist Pippa Malmagren dropped the beans saying that:“We are on the brink of a dramatic change; we are about to abandon the traditional system of money and replace it with a new one, Digital Blockchain CBDC, which will give us greater clarity over every single transaction.”That’s right every single transaction would be made available to the Central Banks and their private service providers for this credit scoring. As well as programmability another potential downside to having a CDBC is that, like China, the global west can shut off your digital wallet if you protest or speak negatively about the global elites. As was the case recently in China. The authorities’ response to any civil disobedience can be swift and broad. Globalists want centralized control and dominance structures where everything is tracked and surveilled instead of a decentralised and private system of digital money and identity. They’re not joking! The parameters they set for CBDC digital currency will nudge our behaviours through social scoring, to control society. http://truthtalk.uk/ https://www.youtube.com/watch?v=2I9HR7BTmn0 https://en.wikipedia.org/wiki/Queen_Maxima_of_the_Netherlands https://www.unsgsa.org/ https://en.wikipedia.org/wiki/Kristalina_Georgieva https://www.imf.org/en/About/senior-officials/Bios/bo-li https://www.bis.org/press/p220607.htm https://twitter.com/TimHinchliffe https://sociable.co/ https://twitter.com/BIS_org/status/1581037484422537216 https://openknowledge.worldbank.org/bitstream/handle/10986/36764/Central-Ban... https://twitter.com/koninklijkhuis https://en.wikipedia.org/wiki/Financial_crisis_of_2007-2008 https://twitter.com/Denachtzuster1/status/1581592917734412289 https://cryptopotato.com/fed-chairman-confirms-that-a-u-s-cbdc-would-not-be-... https://uk.linkedin.com/in/drpippam https://sociable.co/government-and-policy/fourth-industrial-revolution-the-g... https://www.wsj.com/articles/chinese-internet-users-lose-access-to-wechat-ap...
IMF Chief says Central Bank Digital Currency should be used alongside Social Credit System to control what people can and cannot buy.
https://expose-news.com/2022/10/19/imf-cbdc-social-credit-score/ https://old.reddit.com/r/Bitcoin/comments/y8p7s8/imf_chief_says_central_bank... https://old.reddit.com/r/CryptoCurrency/comments/y8pu2f/imf_chief_says_centr... http://www.breitbart.com/london/2018/02/16/soros-calls-eu-regulate-social-me...
The Era Of All-Powerful Central Banks Must End http://charleshughsmith.blogspot.com/2022/11/the-era-of-all-powerful-central... Central bank gaming of Finance is the source of instability. The era of all-powerful central banks is over for a simple reason: they failed: they failed their citizens, their nations, and they failed the world. Their policies have pushed wealth and income inequality to extremes that have destabilized the planet's social, political, economic and environmental spheres. As I have endeavored to explain for many years, this is the only possible outcome of central bank dominance. Once Finance becomes the primary mover of everything else, then it distorts everything into a skimming machine that benefits the few with access to central bank funding at the expense of everyone else. Once finance dominates, then both the "market" and government become servants of finance. I say "markets" because once markets have been financialized, they serve the interests of cartels and monopolies and cease to be markets at all. Government, regardless of the advertised "brand", becomes an auction where the highest bidder gains control of governance and regulation, which are bent to serve the interests of the few with access to central bank largesse. As the charts below illustrate, this is the top 0.1%, with a substantial "trickle down" to the top 1% and top 10%. The bottom 90% have lost ground not just economically but also politically and socially. The way central banks create and distribute credit/money results in the dominance of Finance and this dominance has led to the distortion and ruination of the economy and society. Vast inequality is the norm everywhere, because the central bank system is everywhere. Central banks are the source of destabilizing inequality; they can't fix inequality. As long as Finance dominates "markets" and governments, they won't be able to fix inequality, either. Central bankers and government authorities are aware that the system is unraveling due to the extremes of inequality they've created. They are attempting to to reconcile this contradiction-- Finance turns the entire world into a skimming machine that can only exacerbate inequality--with, yes, what else? Finance. So central banks are preparing to deposit new "money" directly into checking accounts and governments are pondering windfall taxes, wealth taxes, etc. to claw back some of the wealth that accumulated in the top tier to fund social programs designed to keep the masses compliant. Central bank gaming of Finance is the source of instability. Reining in central banks' free money for financiers and cronies is the necessary first step to unseating Finance as the dominant force in markets, governance and the planetary skimming machine Finance has created. Either power is taken from central banks or the vast inequality that is the result of central bank dominance will unravel the entire system. Take your pick, but the distortions are accelerating, and time is running short.
Rishi Sunak’s Family Runs A China-Linked, World Economic Forum Partner Company Pushing Digital ID And Social Credit Scores, Named INFOSYS
https://edwardsnowden.substack.com/p/cbdcs Continuing Ed — with Edward Snowden Your Money AND Your Life Central Banks Digital Currencies will ransom our future Edward Snowden Oct 9, 2021 1. This week's news, or “news,” about the US Treasury’s ability, or willingness, or just trial-balloon troll-suggestion to mint a one trillion dollar ($1,000,000,000,000) platinum coin in order to extend the country’s debt-limit reminded me of some other monetary reading I encountered, during the sweltering summer, when it first became clear to many that the greatest impediment to any new American infrastructure bill wasn’t going to be the debt-ceiling but the Congressional floor. That reading, which I accomplished while preparing lunch with the help of my favorite infrastructure, namely electricity, was of a transcript of a speech given by one Christopher J. Waller, a freshly-minted governor of the United States’ 51st and most powerful state, the Federal Reserve. The subject of this speech? CBDCs—which aren’t, unfortunately, some new form of cannabinoid that you might’ve missed, but instead the acronym for Central Bank Digital Currencies—the newest danger cresting the public horizon. Now, before we go any further, let me say that it’s been difficult for me to decide what exactly this speech is—whether it’s a minority report or just an attempt to pander to his hosts, the American Enterprise Institute. But given that Waller, an economist and a last-minute Trump appointee to the Fed, will serve his term until January 2030, we lunchtime readers might discern an effort to influence future policy, and specifically to influence the Fed’s much-heralded and still-forthcoming “discussion paper”—a group-authored text—on the topic of the costs and benefits of creating a CBDC. That is, on the costs and benefits of creating an American CBDC, because China has already announced one, as have about a dozen other countries including most recently Nigeria, which in early October will roll out the eNaira. By this point, a reader who isn’t yet a subscriber to this particular Substack might be asking themselves, what the hell is a Central Bank Digital Currency? Reader, I will tell you. Rather, I will tell you what a CBDC is NOT—it is NOT, as Wikipedia might tell you, a digital dollar. After all, most dollars are already digital, existing not as something folded in your wallet, but as an entry in a bank’s database, faithfully requested and rendered beneath the glass of your phone. In every example, money cannot exist outside the knowledge of the Central Bank Neither is a Central Bank Digital Currency a State-level embrace of cryptocurrency—at least not of cryptocurrency as pretty much everyone in the world who uses it currently understands it. Instead, a CBDC is something closer to being a perversion of cryptocurrency, or at least of the founding principles and protocols of cryptocurrency—a cryptofascist currency, an evil twin entered into the ledgers on Opposite Day, expressly designed to deny its users the basic ownership of their money and to install the State at the mediating center of every transaction. 2. For thousands of years priors to the advent of CBDCs, money—the conceptual unit of account that we represent with the generally physical, tangible objects we call currency—has been chiefly embodied in the form of coins struck from precious metals. The adjective “precious”—referring to the fundamental limit on availability established by what a massive pain in the ass it was to find and dig up the intrinsically scarce commodity out of the ground—was important, because, well, everyone cheats: the buyer in the marketplace shaves down his metal coin and saves up the scraps, the seller in the marketplace weighs the metal coin on dishonest scales, and the minter of the coin, who is usually the regent, or the State, dilutes the preciosity of the coin’s metal with lesser materials, to say nothing of other methods. Behold the glory of thelaw The history of banking is in many ways the history of this dilution—as governments soon discovered that through mere legislation they could declare that everyone within their borders had to accept that this year’s coins were equal to last year’s coins, even if the new coins had less silver and more lead. In many countries, the penalties for casting doubt on this system, even for pointing out the adulteration, was asset-seizure at best, and at worst: hanging, beheading, death-by-fire. In Imperial Rome, this currency-degradation, which today might be described as a “financial innovation,” would go on to finance previously-unaffordable policies and forever wars, leading eventually to the Crisis of the Third Century and Diocletian’s Edict on Maximum Prices, which outlived the collapse of the Roman economy and the empire itself in an appropriately memorable way: Tired of carrying around weighty bags of dinar and denarii, post-third-century merchants, particularly post-third-century traveling merchants, created more symbolic forms of currency, and so created commercial banking—the populist version of royal treasuries—whose most important early instruments were institutional promissory notes, which didn’t have their own intrinsic value but were backed by a commodity: They were pieces of parchment and paper that represented the right to be exchanged for some amount of a more-or-less intrinsically valuable coinage. The regimes that emerged from the fires of Rome extended this concept to establish their own convertible currencies, and little tiny shreds of rag circulated within the economy alongside their identical-in-symbolic-value, but distinct-in-intrinsic-value, coin equivalents. Beginning with an increase in printing paper notes, continuing with the cancellation of the right to exchange them for coinage, and culminating in the zinc-and-copper debasement of the coinage itself, city-states and later enterprising nation-states finally achieved what our old friend Waller and his cronies at the Fed would generously describe as “sovereign currency:” a handsome napkin. Sovereign currency, as known to history Once currency is understood in this way, it’s a short hop from napkin to network. The principle is the same: the new digital token circulates alongside the increasingly-absent old physical token. At first. Just as America’s old paper Silver Certificate could once be exchanged for a shiny, one-ounce Silver Dollar, the balance of digital dollars displayed on your phone banking app can today still be redeemed at a commercial bank for one printed green napkin, so long as that bank remains solvent or retains its depository insurance. Should that promise-of-redemption seem a cold comfort, you’d do well to remember that the napkin in your wallet is still better than what you traded it for: a mere claim on a napkin for your wallet. Also, once that napkin is securely stowed away in your purse—or murse—the bank no longer gets to decide, or even know, how and where you use it. Also, the napkin will still work when the power-grid fails. The perfect companion for any reader’s lunch. 3. Advocates of CBDCs contend that these strictly-centralized currencies are the realization of a bold new standard—not a Gold Standard, or a Silver Standard, or even a Blockchain Standard, but something like a Spreadsheet Standard, where every central-bank-issued-dollar is held by a central-bank-managed account, recorded in a vast ledger-of-State that can be continuously scrutizined and eternally revised. CBDC proponents claim that this will make everyday transactions both safer (by removing counterparty risk), and easier to tax (by rendering it well nigh impossible to hide money from the government). CBDC opponents, however, cite that very same purported “safety” and “ease” to argue that an e-dollar, say, is merely an extension to, or financial manifestation of, the ever-encroaching surveillance state. To these critics, the method by which this proposal eradicates bankruptcy fallout and tax dodgers draws a bright red line under its deadly flaw: these only come at the cost of placing the State, newly privy to the use and custodianship of every dollar, at the center of monetary interaction. Look at China, the napkin-clingers cry, where the new ban on Bitcoin, along with the release of the digital-yuan, is clearly intended to increase the ability of the State to “intermediate”—to impose itself in the middle of—every last transaction. “Intermediation,” and its opposite “disintermediation,” constitute the heart of the matter, and it’s notable how reliant Waller’s speech is on these terms, whose origins can be found not in capitalist policy but, ironically, in Marxist critique. What they mean is: who or what stands between your money and your intentions for it. What some economists have lately taken to calling, with a suspiciously pejorative emphasis, “decentralized cryptocurrencies”—meaning Bitcoin, Ethereum, and others—are regarded by both central and commercial banks as dangerous disintermediators; precisely because they’ve been designed to ensure equal protection for all users, with no special privileges extended to the State. This “crypto”—whose very technology was primarily created in order to correct the centralization that now threatens it—was, generally is, and should be constitutionally unconcerned with who possesses it and uses it for what. To traditional banks, however, not to mention to states with sovereign currencies, this is unacceptable: These upstart crypto-competitors represent an epochal disruption, promising the possibility of storing and moving verifiable value independent of State approval, and so placing their users beyond the reach of Rome. Opposition to such free trade is all-too-often concealed beneath a veneer of paternalistic concern, with the State claiming that in the absence of its own loving intermediation, the market will inevitably devolve into unlawful gambling dens and fleshpots rife with tax fraud, drug deals, and gun-running. It’s difficult to countenance this claim, however, when according to none other than the Office of Terrorist Financing and Financial Crimes at the US Department of the Treasury, “Although virtual currencies are used for illicit transactions, the volume is small compared to the volume of illicit activity through traditional financial services.” Traditional financial services, of course, being the very face and definition of “intermediation”—services that seek to extract for themselves a piece of our every exchange. 4. Which brings us back to Waller—who might be called an anti-disintermediator, a defender of the commercial banking system and its services that store and invest (and often lose) the money that the American central banking system, the Fed, decides to print (often in the middle of the night). You’d be surprised how many opinion-writers are willing to publicly pretend they can’t tell the difference between an accounting trick and money-printing. And yet I admit that I still find his remarks compelling—chiefly because I reject his rationale, but concur with his conclusions. It’s Waller’s opinion, as well as my own, that the United States does not need to develop its own CBDC. Yet while Waller believes that the US doesn’t need a CBDC because of its already robust commercial banking sector, I believe that the US doesn’t need a CBDC despite the banks, whose activities are, to my mind, almost all better and more equitably accomplished these days by the robust, diverse, and sustainable ecosystem of non-State cryptocurrencies (translation: regular crypto). I risk few readers by asserting that the commercial banking sector is not, as Waller avers, the solution, but is in fact the problem—a parasitic and utterly inefficient industry that has preyed upon its customers with an impunity backstopped by regular bail-outs from the Fed, thanks to the dubious fiction that it is “too big too fail.” But even as the banking-industrial complex has become larger, its utility has withered—especially in comparison to crypto. Commercial banking once uniquely secured otherwise risky transactions, ensuring escrow and reversibility. Similarly, credit and investment were unavailable, and perhaps even unimaginable, without it. Today you can enjoy any of these in three clicks. Still, banks have an older role. Since the inception of commercial banking, or at least since its capitalization by central banking, the industry’s most important function has been the moving of money, fulfilling the promise of those promissory notes of old by allowing their redemption in different cities, or in different countries, and by allowing bearers and redeemers of those notes to make payments on their and others’ behalf across similar distances. For most of history, moving money in such a manner required the storing of it, and in great quantities—necessitating the palpable security of vaults and guards. But as intrinsically valuable money gave way to our little napkins, and napkins give way to their intangible digital equivalents, that has changed. Today, however, there isn’t much in the vaults. If you walk into a bank, even without a mask over your face, and attempt a sizable withdrawal, you’re almost always going to be told to come back next Wednesday, as the physical currency you’re requesting has to be ordered from the rare branch or reserve that actually has it. Meanwhile, the guard, no less mythologized in the mind than the granite and marble he paces, is just an old man with tired feet, paid too little to use the gun that he carries. These are what commercial banks have been reduced to: “intermediating” money-ordering-services that profit off penalties and fees—protected by your grandfather. In sum, in an increasingly digital society, there is almost nothing a bank can do to provide access to and protect your assets that an algorithm can’t replicate and improve upon. On the other hand, when Christmas comes around, cryptocurrencies don’t give out those little tiny desk calendars. But let’s return to close with that bank security guard, who after helping to close up the bank for the day probably goes off to work a second job, to make ends meet—at a gas station, say. Will a CBDC be helpful to him? Will an e-dollar improve his life, more than a cash dollar would, or a dollar-equivalent in Bitcoin, or in some stablecoin, or even in an FDIC-insured stablecoin? Let’s say that his doctor has told him that the sedentary or just-standing-around nature of his work at the bank has impacted his health, and contributed to dangerous weight gain. Our guard must cut down on sugar, and his private insurance company—which he’s been publicly mandated to deal with—now starts tracking his pre-diabetic condition and passes data on that condition on to the systems that control his CBDC wallet, so that the next time he goes to the deli and tries to buy some candy, he’s rejected—he can’t—his wallet just refuses to pay, even if it was his intention to buy that candy for his granddaughter. Or, let’s say that one of his e-dollars, which he received as a tip at his gas station job, happens to be later registered by a central authority as having been used, by its previous possessor, to execute a suspicious transaction, whether it was a drug deal or a donation to a totally innocent and in fact totally life-affirming charity operating in a foreign country deemed hostile to US foreign policy, and so it becomes frozen and even has to be “civilly” forfeited. How will our beleagured guard get it back? Will he ever be able to prove that said e-dollar is legitimately his and retake possession of it, and how much would that proof ultimately cost him? Our guard earns his living with his labor—he earns it with his body, and yet by the time that body inevitably breaks down, will he have amassed enough of a grubstake to comfortably retire? And if not, can he ever hope to rely on the State’s benevolent, or even adequate, provision—for his welfare, his care, his healing? This is the question that I’d like Waller, that I’d like all of the Fed, and the Treasury, and the rest of the US government, to answer: Of all the things that might be centralized and nationalized in this poor man’s life, should it really be his money? Leave a comment 113 Comments John B Turner Oct 9, 2021Liked by Edward Snowden Thank you Ed. Your article starts off slow, speeds up, is informative, and full of delightful humour - so I'm now a paying subscriber as well as admirer and supporter of your Hong Kong guardians getting to Canada. Best wishes forever to you and yours. ReplyCollapse 2 replies by Edward Snowden and others Stephen2021 Oct 9, 2021Liked by Edward Snowden Ed, you keep killing it with great articles! Keep them coming!! ReplyCollapse 111 more comments… No posts © 2022 Edward Snowden Privacy ∙ Terms ∙ Collection notice Publish on Substack Get the app Substack is the home for great writing
How many times do you need to be warned about this before you get it through your heads and refuse to comply with it... CBDC = pure evil, got it, ok. https://cointelegraph.com/news/ny-fed-launches-12-week-cbdc-pilot-program-wi... https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.... https://old.reddit.com/r/CryptoCurrency/comments/yw9v55/mastercard_wells_far... https://www.washingtonexaminer.com/policy/economy/fed-banks-digital-dollar-t... https://www.youtube.com/watch?v=dnC5mFaIW3Q Andreas on CBDC's You need to adopt privacy coins faster than they can act to ban them, and you're already 13 years behind... https://www.coindesk.com/policy/2022/11/15/privacy-enhancing-crypto-coins-co...
How many times do you need to be warned about this before you get it through your heads and refuse to comply with it... CBDC = pure evil, got it, ok.
CBDC, Digital Fiat, War On Cash , War On Crypto It's coming... more and more globalists recently announcing their impending plans for total financial enslavement, spyveillance, and control over you... Yet nothing but crickets from you idiot sheeple. "Please People, Wake The FUCK Up !!! -- John McAfee" The logical consequence of a Central Bank Digital Currency (CDBC) is getting rid of cash. https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastruc... https://www.faz.net/aktuell/finanzen/digital-bezahlen/digitaler-euro-koennte... https://www.businessinsider.in/investment/news/the-eu-may-ban-banks-and-cryp... https://thepaypers.com/payments-general/eu-commission-planning-limit-of-eur-... On November 15, the Federal Reserve Bank of New York announced that "its New York Innovation Center (NYIC) will participate in a proof-of-concept project to explore the feasibility of an interoperable network of central bank wholesale digital money and commercial bank digital money operating on a shared multi-entity distributed ledger." [NY FED] In July, the EU announced similar plans for a digital Euro [FAZ.net, german]: "The authorities have been examining the possible introduction of a digital variant of the European single currency for a while now. [...] Whether a digital euro will come is not yet decided. In any case, a digital euro would complement cash and not replace it." The CBDC's main purpose is for Central Banks to be able to control and supervise all financial transactions. They will tell us that it will be easier for retail sellers to accept digital payments and the currency will prove to be more stable, that it will be easier to get loans and make oversea transfers. But that's just sugarcoating for 'we want full control'. Not surprisingly (and not coincidental) the EU is targeting privacy coins: The EU may ban banks and crypto providers from dealing in controversial privacy-enhancing coins under new anti-money-laundering plans. So how likely do you think is it that governments will want to keep cash alive? It pretty much contradicts its main advantage of CBDCs for governments. Money laundering is still mostly being done with cash. Right now the EU Commission is planning a limit of EUR 10,000 for cash payments. Later this limit could be lowered to make the use of cash even less handy. A piecemeal tactic like this one would not come as a surprise. Do I need a tinfoil hat now or will the government stop letting cash circulate after the CBDCs go live? Even if there is still some cash in its natural habitat, there is less cash available over time as banks withdraw it from circulation. tl;dr EU and the US are pushing plans for digital currencies. Is there a plan to make cash obsolete? That could be suspected, since they are targeting privacy coins and crypto in general as well as they are planning a 10k cash limit. There's a sequence here, they took the dollar off the gold standard, suddenly backed by " nothing. " It starts weakening decade after decade. Now they want physical cash gone and be able to have 100% control of any and all money you have or get to have in the future. Uncle Klaus is one scary motherfucker. CBDC will make it much easier for the gov to print magic money which is already at max mode no more printing and wasting money on papers, just push the button for a billion dollar. It makes sense that the future would be faster and more seamless. Cash won't just disappear, but how often do you see people pay for something with cash these days? The majority of the time, I see people paying with cards or phone apps. That is absolutely not the point, the same way that just because a currency is on the gold-standard doesn't mean people are literally carrying gold to pay for groceries. Cash is the only method for individuals to use the currency without the transaction being recorded in a database somewhere. If cash stops being an option, the government is basically telling you you are no longer a free citizen, you are now a subject, and they reserve the right to know of every single one of your exchanges with other subjects. Good point! They are trying to control every transaction... This will be connected to a social score.... You mess up... You get your credits frozen. Well shit I’ll die from starvation then. I live off ramen and salted hopium I wouldn’t even have the ramen because they would keep my account frozen 24/7. My social credit would be shit. The main point of CBDCs is legalized theft (aka taxes). But yup, social score right after that. Tweeted bad shit about a rapey politician? Bam, your money is not good now... ...anywhere on the planet. That's why we gotta fight tooth and nail for decentralization - goverments tend to go tyranical under the guise of "for your own good" all the fn time. donate $100 to "the government" to increase your social score. I guess everybody will want to own at least 1 Monero by EOY 2023. The citadels... That the bitcoin time traveler predicted, will be a reality. There are a lot of obvious things that don’t ever seem to be covered in these rants. It’s always just “CBDCs are gonna delete cash!” while completely ignoring the other functions that cash serves when dealing with foreign travelers, the unbanked, and hand-to-hand transactions. It also ignores that all the things people are afraid of (“They can cut off your money!”) are already possible with the existing M2 money supply. It’s like everyone suddenly forgot how many Russian oligarchs got cut off when the invasion of Ukraine took place. CBDC = the end of financial freedom Any proof of that other than "I do not trust governments" CBDC is just a crypto that is issued by the government. Why do you think they have more control over a crypto issued by the FED than they have over BTC, ETH or any other crypto that is public? Why do you think that routing a CBDC-Crypto through privacy-coins would make it impossible to disguise your identity, while any other crypto will? Why do you think they have more control over a crypto issued by the FED than they have over BTC, ETH or any other crypto that is public? because it is not public and they literally have all control over it Is there any law saying how a government has to do CBDCs or do they have the same freedom in deciding on the tokenomics as any random person making any random shitcoin? CBDCs will not replace Cash... CBDCs will replace CEXs... The second you can send Crypto from your bank account and convert it to a privacy-coin on a DEX, no one needs CEXs anymore. Your comment sound like you have no idea what CBDCs actually are. Are you fucking serious? If we get rid of cash and only accept digital as payment it won't reflect crypto at all. It'll be programmable and 100% under government control. They can program it to expire or punish any person the state disagrees with by cutting off all your financials, only a complete buffoon would celebrate or even entertain that idea. No one said anything about replacing Cash. Based on your argument, Checks, Bank transfers and credit cards are evil because they killed cash... They didn't. Politicians love bribes and they will never create a world where money is 100% trackable... They don't hurt their own illegal income.... Cbdc are made to replace cash in the long term. Goverment can define what you buy, how much you buy, even how much you save. They can cut your savings just push of a button. If they dont like your oppinion they can freeze all your assets. It will be done with social score and carbon credit system wich is their way to keep markets "growing" becouse demographics are turning upside down. Cash is King Soon enough, that King of yours will become a peasant. We better start learning some useful skills, so that we can barter more efficiently (cash used to take care of that). This is probably why they will legalize weed on a Federal level. No need to track down every digital blunt purchase if it’s not against the law. I can see it now… How I pay hookers then? With monero. The future will be dystopian. I’m concerned why the people who “run” the planet think they need this much control I stack now crypto as much as I can and when I have enough I go to live somewhere where its leagal tender. With the news right now. I can use some CBDC to park some of my stables. Cuz at this point i don't trust any of the fucking stables. At least i know uncle sam have an apache helicopter and tanks I have noticed a look of disappointment on the faces of cashiers when I pull out cash. It's already being seen as an inconvenience For employees, yes. But not for the owner ^^ I think there's a fine line between proper usage of CBDC's and CBDC tin foil hat conspiracies becoming true. I sometimes hear "so just because you don't trust your government you are against the idea of a CBDC". And to be honest, where I'm from there is very little reason to trust the government. So yes, i think not trusting the government with such big control instruments is a very valid reason to oppose the monster that is CBDC. Even in a recession there are still a lot of people who keep emergency cash savings at home. At least for now there’s no way making all that void would receive public support. Even if they offered some kind of incentive like giving you +50% value in CBDC for turning in your cash, I just don’t see it. There’d be a public outcry towards the government from regular people on both sides of the political aisle, and they really don’t want to give us reasons to unify against the government lol
"Please People, Wake The FUCK Up !!! -- John McAfee"
https://www.youtube.com/watch?v=1W0-N_0K6jQ First speaker addresses CBDC
https://twitter.com/NoCBDC https://twitter.com/cryptograffiti Based, join the campaign. https://www.atlanticcouncil.org/cbdctracker/ https://cbdcwatch.substack.com/ https://scarce.city/collections/cryptograffiti https://mailchi.mp/cryptograffiti/cryptograffiti https://bitcoin.rocks/ Watch the WEF and other government finance minister talks. They come right out and say the benefit is it allows control over what people can buy. 1984. Already launched in 10 countries. Being explored in 105 (95% global GDP). Advanced phases of development in 50 of those. CBDCs aren’t just about surveillance. They give central banks the ability to discriminate, censor and blacklist your money. https://www.dominionmovement.com/watch
https://twitter.com/THORmaximalist/status/1595696166741725186 They’re really pitching CBDCs as privacy tolls when they are pushing a surveillance and behaviour modification tool Rishi Sunak is a lying weasel scumbag piece of shit... https://twitter.com/LudwigHup/status/1595367195244126210 https://expose-news.com/2022/11/01/sunak-will-usher-in-totalitarianism-using... https://www.youtube.com/watch?v=7WtovHrGPxg The new UK PM Rishi Sunak announces CBDC policy move, his father in law is indian billionaire owner of Infosys which is involved with digital passport and CBDC... https://rumble.com/v1pqzrn-cbdcs-are-the-future-rishi-sunak-u.k.-prime-minis... https://old.reddit.com/r/CBDC/comments/ygdizd/british_pm_rishi_sunaks_family...
https://twitter.com/sophiadahl1/status/1594248002042007552 These people speak resistance more than so called cypherpunks reading this do, lol.
https://news.bitcoin.com/putin-calls-for-international-settlements-based-on-... Does Putin really claim for distributed permissionless uncensorable unstoppable privacy-enabled global p2p money...
https://www.youtube.com/watch?v=6LAMuhgzXLs CBDC's For Lock You Down "Many would confirm CBDC is trojan horse bringing complete surveillance and control state, lucky for the State there aren't that many smart cypherpunks here on this list, let alone any doing anything about it."
https://twitter.com/JamesMelville/status/1597282329181159425 James Melville @JamesMelville Here’s a personal account of how digital ID / central bank digital currencies / social credit systems operate in China. Central banks and governments are nudging us towards this. We cannot let this happen. Wake up before it’s too late.
https://www.youtube.com/watch?v=I8KszNaDvp4 CBDC Dystopia U Begged For It
WAKE THE FUCK UP https://www.youtube.com/watch?v=j05fPzz4YS8 WAKE THE FUCK UP WAKE THE FUCK UP FTX was a setup for CBDC. https://i.redd.it/rwzezj67p72a1.jpg Morality police will no longer beat women for not wearing the Hijab, instead they will give 2 text message warnings and then freeze their bank accounts. This is what happens when a nation enslaves their citizens with Digital ID and CBDC. Social Behavioral Control. Islam is garbage, just like CBDCs are. https://twitter.com/AE_Holman1958/status/1587809533509763072 Rishi Sunak's plan... Crash the economy completely to get people on UBI. Make it so UBI gets paid in a CBDC (central bank digital currency) that can have controls on it. Game over for humanity. https://www.independentsentinel.com/dutch-farmers-are-in-full-revolt-over-we...
" UBI schemes... The problem with that is it doesn't solve anything. Give everyone (the fair thing to do) £25k per year free, so that those already earning an income get it on top of what they already get (e.g. 25k UBI + 25k salary = £50k per year suddenly), and all that happens is the price of bread doubles, because people can afford to pay more for it. And the same for all other commodities. On the other hand, not giving it to everyone means those who work hard for their £25k salary suddenly realise they don't have to work (or don't have to work as hard) to get the same through UBI, and the economy gets damaged through less people choosing to work. But then that's where CBDCs come in, that can force people to work to earn them in some sense, and won't be dished out fairly (i.e. it won't be universal as it will be based on certain criteria as recorded on your digital ID). And then when the economy starts tanking, they can programme expiry dates into your CBDC so you can't save it and have to spend it to prop up the economy. Oh, and you can only spend it on certain things that are "good for you" as well. There's too many things wrong with the current state of the world (poverty, hunger, greed and corruption) for UBI and CBDCs to ever be forces for good. Instead they are control mechanisms to further the aims of the corrupt people and organisations running the country/world. "
It was in the papers (including the Financial Times i think) that they could be programmed to only allow certain purchases. Those that the state deems "good for you". So given the current state of what activists are trying to get the government to interfere with in people's lives, that could be a limit on fuel allowance per week (good luck if you commute a long way), limits on red meat so you can top your protein up with bugs instead, limits on cigarettes (not a bad thing in my mind, but who am I to decide how people live, which is the whole point of the argument against state interference in our lives) to name a few. Granted, some of this could probably be controlled with the tech that's used now for our currency (which is essentially digital), but currently choices of what we can buy are decided by our banks, that have little interest in what we purchase, as long as we have something in there, or pay our fees. If it becomes Central Bank owned, then they're making the decisions for everyone. It's absolutely not trustless - do you trust the central banks, given the state of the economy and their reactions to it over the last year? Also, having different banks decide what you can or can't do with your money is much better - with CBDC you can't drop your bank that spouts woke nonsense you might not agree with and select another one. Competition means options. With CBDCs you'd have to agree with whatever the sole source of funding decides is good for you and your family. Also, it's a lot easier to create these systems of extreme control when they're built from scratch. Hence they want new CBDCs to replace the current digital money system. If they could build this much control into the current system they wouldn't need to announce CBDCs as a new thing or try so hard to get people on board with it. They could just do it behind the scenes.
https://www.youtube.com/watch?v=rpNnTuK5JJU Wake Up Starve and freeze the masses so they comply with an inserted digital ID. No thanks. I'm not your livestock and I know how to grow food. "And then you need laws in place that prevent corporations increasing the price of goods and services because everyone can now afford to pay more for them and because they've been excessively taxed and want some of it back. You can't just tax them more everytime they up prices and not expect a viscous cycle of pricehikes Vs UBI value. You'd have to legally set prices. And then were no longer a capitalist society where people with good ideas or who can provide what people want to buy can charge a society-set rate. Instead we'd be communist. State pretty much dictating everything." You think that's how it would be implemented? 🤭 Like you said, corporations and the wealthy are exercising control over the government. You don't think they'll control how any UBI or CBDC is implemented? Naivety is sweet, when it doesn't majorly disrupt other people's lives.
Nigerian bans atm cash withdrawals over $225 a week to force use of CBDC (Central Bank Digital Currency) CBDC's... Coming for your freedom soon.
Are you fucking awake yet, because you sound like a bunch of sleeping sheep. https://twitter.com/LetsGoBrando45/status/1597262114170994691 This is what Will Happen to the US citizens if Digital ID and CBDC is allowed to control everyone. They Will Deny access to banking, healthcare, travel and even freedoms. Corporations have more freedom than actual people. https://twitter.com/DavidWolfe/status/1595221895099580418 Under NO Circumstances are we going to Accept their Digital ID and CBDC (Centralized Bankster Digital Slave Currency) https://twitter.com/GingerJim5/status/1597037836469170180 "This video I saved during lockdown. But this truly is a taste of what you will encounter if the Digital ID/CBDC comes into force. You have been warned. Don’t be stupid enough to ignore it. Your time to act is now. Get talking in the real world and make plans." https://www.atlanticcouncil.org/blogs/new-atlanticist/why-chinas-digital-cur... https://www.atlanticcouncil.org/cbdctracker/ https://www.xda-developers.com/december-2022-google-play-system-update/ Google Wallet: This is the beginning of China's WeChat for Americans. They want you to switch to Digital ID and eventually a federal CBDC through this application.
Are you fucking awake yet, because you sound like a bunch of sleeping sheep.
From the outside these "red packets" - as they became known - look just like the cards that are common presents all over China. Each is loaded with 200 Yuan. About a tenner, give or take. Small change. That money can be spent in 3,000 places in the city. Shops, restaurants and cinemas all accept it. It appears to work just like normal currency. But these red packets are hiding something. The money loaded onto them is different - radically different - to the rest of currency in circulation. It's new. Digital. And unlike normal money, it's programmable. The CCP can see every transaction, track every purchase and monitor every cent of the money that's being spent - in real time. Not only that, these `red packets' can be coded with government-set rules, meaning they can only be spent on state approved purchases. It's a new form of controllable money that has never existed before And it allows the state to `track and trace' all money - and police behaviour it doesn't like. It's what the International Monetary Fund calls "the future of money". CNBC called it "the next big disruptive force on the horizon". And the Bank of International Settlements said it's "likely to be a game changer in the financial system". This money is nothing like the cash in your pocket. It's a perfect tool of control. Just look at China. Soon after appearing in Shengzhen, this new digital money began to crop up all over China. Next it was Guangzhou. Then Beijing... Shanghai... Hangzhou... Fuzhou... Xiamen... and countless other cities. It fits perfectly into the CCP's plans. You may not know this - but the Chinese authorities are building a social credit system - designed to reward "good" citizens... ...and punish "bad" behaviour. The state can punish people for playing too many video games... buying "frivolous" items... posting the wrong thing online... or smoking in
Those MaxiSheeple and CypherSheep who do not continue to speak and educate others on Freedom from Tyranny and its Money, will end up with a global Tyranny of CBDC's over them shutting down their every freedom forevermore... CBDCs: Digital Wolves In Sheep's Clothing https://fortuneandfreedom.com/the-city/cbdcs-digital-wolves-in-sheeps-clothi... https://pro.southbankresearch.com/m/2136423 https://pro.southbankresearch.com/o/FSL-1222-CBDC/WUKIZ103 John Butler via FortuneAndFreedom.com People like to remark that governments foster innovation, especially during wartime. They also like to ignore the slaughter of millions which is usually part of this process. That is not to mention the innovators we missed out on as a result. The latest government “innovation,” which follows in a long tradition of stealing ideas from the private sector designed to improve our lives and using them for other means instead, is central bank digital currencies (CBDCs). Designed not to exist in any physical form whatsoever, CBDCs would give their central bank issuers entirely new powers. Indeed, much of the manoeuvring that was required in 2008-9 to rescue the financial system with taxpayer-funded bailouts would have been so much easier had CBDCs been in existence. But if easier, is that necessarily a good thing for the economy as a whole? Nigel Farage doesn’t seem to think so. And he has come up with a plan to counter the government’s efforts. To answer the question, it is important to differentiate between CBDCs and the concept of private, distributed digital currencies, including those such as bitcoin, that are built using distributed-ledger technology (DLT). In some ways they are opposites. Rather than offer an alternative currency, CBDCs are mostly aimed at making monetary policy easier to implement and, potentially, more powerful. As monetary officials have repeatedly made clear, they have no interest in replacing their policy discretion with algorithms, blockchains or any other form of private-sector solution. Recently, Pablo Hernández de Cos, the chairman of the Basel Committee on Banking Supervision, the regulatory branch of the Bank for International Settlements (BIS, the “central bank of central banks” which is based in that Swiss city), made the following comments with respect to DLT: DLT could, in principle, allow for cheaper, faster and more customised financial intermediation. But, here again, such benefits must be weighed against the risks if not properly regulated and managed. These include potential threats to banks’ operational resilience, a lack of legal clarity with regard to assets transacted on DLTs, and concerns with regard to anti-money laundering and the financing of terrorism. Financial system regulators have a bad habit of associating everything that is unregulated with money laundering and terrorism, when in fact the vast bulk of such activity takes place within the incumbent banking and payments system. Such invidious associations should be seen as primarily self-serving rather than anything necessarily in the public interest. The Bank of England appears to share these sentiments. Earlier this month, the Bank published the following note: In the traditional financial system, critical financial infrastructure is regulated to deliver an appropriate level of responsibility, accountability, and control. In the future, critical third parties providing material services to the UK financial sector (eg cloud service providers) may also be subject to regulatory requirements. So, there is a question as to what appropriate regulatory oversight of a blockchain could entail, were it to become a more critical piece of infrastructure in the financial system. Blockchains do not constitute critical financial infrastructure (yet). But they could conceivably become so in the future if cryptoasset activity and its interconnectedness with the wider financial system continue to develop. So, it is important that relevant authorities find legal mechanisms and means of co-ordinated action to ensure that an equivalent regulatory outcome is delivered. Hence CBDCs, once introduced, are not intended to displace, but to migrate existing, centralised, regulated monetary systems from paper based to wholly digital. There will still be legal tender laws requiring their acceptance for payment, and penalties for counterfeiting or other forms of fraud. Money laundering will still be a crime. And central banks will still control monetary policy. Indeed, their control of monetary power will grow. As it stands today, while central banks set interest rates and conduct open-market operations (e.g. quantitative easing) these actions only have a direct impact on the reserves of the banking system which, for many years now, have been essentially digital. Yes, banks do hold some physical cash in reserve, but it is such a tiny portion of their overall balance sheet as to be practically irrelevant. The broader money supply, including the amount of physical cash in circulation, various types and amounts of bank deposits and credit, fluctuates along with economic activity and liquidity preferences. Thus, when the global financial crisis arrived in 2008, central bankers slashed interest rates and created huge amounts of reserves, but this did not prevent a general contraction in credit. Liquidity preferences spiked, including a desire to hold larger amounts of physical cash. Given that multiple banks failed or had to be rescued, and that interest rates had declined to essentially zero, holding physical cash seemed an entirely reasonable thing to do. But it did have the effect of limiting central banks’ ability to add further monetary stimulus to their economies. As one central bank after another began to consider lowering interest rates to outright negative levels, one immediate and obvious complication was that savers would seek to avoid negative rates by reducing their bank deposits in favour of physical cash hoards. Such a run on deposits would not only negate the proposed further stimulus, but would have the counterproductive effect of reducing banks’ normally stable depositor base. CBDCs expand central bank power, for better or worse CBDCs provide economic officials with a solution to this perceived problem: once introduced, a purely digital currency cannot be physically withdrawn. No matter if central banks cut interest rates to below zero, even dramatically so, in an effort to get savers to spend more. The digital currency must remain in the banking system. It may circulate more as households and businesses seek to pass the depreciating “hot potato” around, but there is no other option. A bank run on the system as a whole becomes impossible. CBDCs also give central bankers the de facto power to “tax” deposits, or to supplement them with stimulus cash, as they did during the pandemic. But they would also give them the ability to easily track and trace every transaction, no matter how tiny, and perhaps embed some sort of sales, VAT or transactions tax, depending on the type of transaction involved. To what extent these new powers would be used or abused is unclear, and a merging of monetary and fiscal policy in this way would no doubt be political, but CBDCs would enable a complete fusion of monetary and fiscal policy, if desired, and would make any form of avoidance or evasion on the part of households or businesses all but impossible outside of direct barter. The end of financial privacy? Financial privacy, something that has been eroding for many years, would vanish entirely. That is not to say that there could not be safeguards. And there are ways to help protect yourself. But here, too, the extent that individuals’ transaction histories would be visible to the authorities would need to be decided as a political matter. This latter point helps to explain why there is much public disagreement amongst economic officials about how best to regulate private digital currencies and prevent their use for money laundering, tax evasion or other illicit economic activities. Whether public or private, purely digital currencies leave the ultimate “paper trail” that can be followed back to inception. Yes, individuals can use cryptography to protect their privacy on a public blockchain, hence why bitcoin is frequently referred to as a “cryptocurrency”. In a 2021 article, the former acting director of the CIA, Mike Morell, made precisely this point, calling bitcoin a “boon for surveillance,” and noting that “concern over bitcoin’s use for illicit finance is significantly overstated.” He should know. The CIA is known to monitor international financial transactions as it seeks to discover the source of all manner of activity, illicit or otherwise, that is considered a threat – real or potential, distant or immediate – to the national security of the United States, and to draw connections between both state and non-state actors whenever possible. CBDCs as international reserves The international arena is an interesting one for CBDCs, not only in that they would facilitate the ability of authorities to monitor cross-border transactions, but also because they could potentially disrupt the existing international monetary order. The global financial system remains centred around the US dollar: it is worth considering whether another country’s CBDC, once successfully implemented domestically, could displace the dollar and provide the new global reserve. Given that international reserve balances are already, in effect, digital in nature, the introduction of CBDCs doesn’t fundamentally change the game in this respect. Reserves remain within the banking system and are not “spent” in the way that domestic physical currencies are. Rather, as they are accumulated, they are sometimes sold to purchase securities of some sort, such as government bonds, or they are exchanged for other currencies, or sometimes gold. Whether or not the dollar eventually loses its exclusive international reserve status will be down to other factors. It could be that China, Russia, Japan, Germany or the big oil exporters eventually tire of accumulating dollars that seem destined to lose value to inflation over time. The war in Ukraine and associated economic sanctions might also catalyse some changes in international monetary behaviour. Dollar-dependent trade is a relatively easy target for sanctions, but if other currencies are used instead, sanctions become far harder to enforce. It should surprise no one that political leaders from Russia, China, India, Turkey and others have all made recent public statements to the effect that they have been actively seeking alternatives to the dollar even since Washington imposed war-related sanctions. Were the above and other countries to indeed find a means to avoid the dollar in trade entirely, this would imply a severe reduction in the dollar’s global monetary role. Could the weaponisation of the dollar have, in fact, been counterproductive? Imagine Messrs Putin, Xi, Modi and Erdoğan channelling Napoleon (as discussed in yesterday’s edition of Fortune & Freedom): “Never interrupt the Americans when they are making a mistake!” Dollar dominance on the wane, but NOT due to CBDCs Having written extensively on the topic of global monetary regime change, in my opinion there is currently no national currency alternative to the dollar. All of them have problems of their own. Should the primary candidates migrate to CBDCs in future, with the US government opting for whatever reason to be left behind, doesn’t necessarily imply that the dollar would not remain the dominant reserve. Of course, the US government might opt not to be left behind at all, but rather to place itself in the vanguard of the thrust to introduce a universal CBDC serving all modern monetary roles, including that of provide for the bulk of the international monetary reserve base. In a project of Napoleonic ambition, the US government could simply explain that all existing dollar balances be converted into a purely digital dollar and that, over some period of months, all physical currency would need to be redeemed for digital dollar balances in an account or would simply expire worthless. However, what if, subsequent to such a move, multiple major countries in the world pushed back? For example, what if they shared some of the concerns mentioned above, including, perhaps, that the US government would abuse its dominant reserve position by not providing for a fair market interest rate or, perhaps, implementing an outright negative dollar interest rate as a de facto tax on foreign-held dollar balances? In a way not dissimilar to Napoleon’s sense of near invulnerability when he set about invading Russia, the US government might find the rest of the world pursuing a form of defence in depth, finding ways to reduce reliance on the dollar. Perhaps some countries would even engage in a form of “scorched-earth” policy in which they required domestic economic agents to transact internationally in non-dollar currencies only. Certainly such policies would be disruptive, but perhaps some actors would perceive their cost of their implementation to be less than to remain dependent not only on the dollar, but on a newfangled dollar CBDC which, paradoxically, gave the US Federal Reserve more power over global monetary conditions than it had ever had: nevertheless, this would be at a time when relative US global economic power had slipped to its lowest ebb since the 19th century. What about digital gold? If the dollar’s role continues to decline, there is a candidate that is more likely than any particular CBDC to replace it: gold. Gold is the only truly international money, accepted everywhere as a reliable store of value, and one with the strongest possible historical track record providing the de facto global monetary base and, under the classical gold standard, the de jure one. As I argue in my book, The Golden Revolution, Revisited, gold provides the game-theoretic monetary solution to a globalised, multipolar world. So, while I don’t see CBDCs changing the international monetary regime on their own, it would be a real game-changer indeed if one or more CBDCs were to be linked to gold in some way. That would introduce real, tangible, perhaps irresistible competition for the dollar as the dominant global reserve. As it stands now, however, it seems a more immediate concern that CBDCs will not only make it easier for central banks to implement negative interest rates, if desired, but that they will acquire a range of new, implied powers. Thus they bring with them broad implications for tax and fiscal policy, financial privacy and the ability for households to preserve their wealth in what has already become a highly challenging economic environment. If you share our concern about these threats, why not take a look at Nigel Farage’s plan to side step them with some of your wealth? Source list 1. "The Future of Money: Gearing up for Central Bank Digital Currency" International Monetary Fund, 09/02/22 2. "China's 'social credit' system ranks citizens and punishes them with throttled internet speeds and flight bans if the Communist Party deems them untrustworthy" Business Insider, 28/11/22 3. "Government Mulls Money That Can Only Be Spent on Approved Items" Mind Matters, 25/02/22 4. "105 Countries Are Exploring Central Bank Digital Currencies, CBDC Tracker Shows" Bitcoin.com, 06/06/22 5. "Inflation 'will soar to 50-year high of 18.6% by end of January'" Metro News, 22/08/22 6. "UK Pensions Still Dumping Assets Before BOE Pulls Support" Bloomberg, 06/10/22 7. "The Gold Standard System" World Gold Council, accessed on 09/12/22 8. "The Devaluation of the British Pound, September 21, 1931" New World Economics, 22/05/2016 9. "Nixon Broke With Gold 50 Years Ago. What Comes Next?" Bloomberg, 15/08/21 10. "Central Bank Digital Currencies (CBDCs)" ConsenSys, accessed on 09/12/22 11. "The digital currencies that matter" The Economist, 08/05/21 12. "Private-sector CBDC activity cranks up in UK" Global Government Fintech, 19/08/22 13. "What If Central Banks Issued Digital Currency?" Harvard Business Review, 15/10/21 14. "Australia is investigating a digital currency, or e-dollar, but its benefits seem slight and the risks to privacy large" The Conversation, 05/05/22 15. "China's Digital Yuan Is All about Data--and, Perhaps, Control" Industry Week, 01/09/21 16. "The Central Bank Digital Currency is on the horizon" The Spectator Australia, 07/03/22 17. "Canadian 'Freedom Convoy' vows to stay in Ottawa as tens of thousands of protesters pledge to 'create chaos' until government reverses vaccine mandates: Vital US border route is blocked after Trudeau flees city and Elon Musk backs truckers" Mail Online, 31/01/22 18. "Canada says it will freeze the bank accounts of' Freedom Convoy' truckers who continue their anti-vaccine mandate blockades" Business Insider, 15/02/22 19. "Canadian MP says single mom has had her bank account frozen for donating $50 to Freedom Convoy" Daily Mail, 21/02/22 20. "BoA snooped through hundreds of accounts looking for Capitol rioters" Daily Mail, 05/02/21 21. "China hands out $1.5 million of its digital currency in one of the country's biggest public tests" CNBC, 12/10/20 22. "CBDC pilot: Payments industry group to launch trial for UK digital currency" City A.M. 09/02/22 23. "Prepare for `Britcoin'? Bank of England and HM Treasury launch CBDC taskforce" Global Government Fintech, 19/04/21 24. "Cryptocurrency fans are very excited about having Rishi Sunak as PM" Metro News, 26/10/22 25. "Powell Says Fed Plans Recommendation to Congress on CBDC" CoinDesk, 23/06/22 26. "European Central Bank Advances CBDC Project" Comply Advantage, 26/05/22 27. "Central Bank Digital Currency Experiments" Bank of Japan, 26/05/22 28. "UK central bank digital currency" Bank of England, 01/09/22 29. "Central Bank Digital Currency Tracker" Atlantic Council, 09/12/22 30. "Contactless makes up a third of all payments, while cash use falls again in 2021" UK Finance, 17/08/22 31. "China's Digital Yuan: A Threat to Freedom" Cato, 25/08/21 32. "China's Digital Yuan Is All about Data--and, Perhaps, Control" Industry Week, 01/09/21 33. "Obituary: The 17^th Earl of Lauderdale" Church Times, 17/12/08 34. "Great Moments: Kennedy, Cuba and Cigars" Cigar Aficionado, accessed on 09/12/22 35. "Why Savvy Investors Include Argyle Pink Diamonds" Leibish, accessed on 10/11/22 36. "Markets 2022: These 3 charts show just how bad assets performed" Fortune, 01/07/22 37. "When will house prices fall?" Times Money Mentor, 07/12/22 38. "CBDC systems should focus on programmable payments" OMFIF, 12/12/22 39. "`Britcoin' not bitcoin? UK considers new digital currency" Reuters, 19/04/21 40. "The UK economy could be transformed by a central bank digital currency" The Guardian, 14/06/21 41. "UK May Need Digital Pound, Bank of England's Jon Cunliffe Says" CoinDesk, 21/11/22 42. "How banks and the government keep track of suspicious financial activity" PBS NewsHour, 17/05/18 43. "Wall Street banks brace for digital dollars as the next big disruptive force" CNBC, 19/04/21 44. "US Dollar Devalues by 99% vs Gold in 100Years as Gold Price Crosses $2,067" The Gold Observer, 06/08/20 45. "International Dimension of CBDC: A Network Analysis" Bis, accessed on 09/12/22 46. "China hands out $3 million of digital yuan as JD.com becomes first online platform to accept it" CNBC, 06/12/20 47. "China plans to hand out $1.5 million in a digital currency test during the Lunar New Year" CNBC, 08/02/21 48. "China's digital yuan is now in 23 cities" Yahoo Finance AdvertInfo This promotion - while not financial advice - should be read carefully. It contains the important information, facts and figures you need to make an informed decision - including the risks to your capital involved - about our research. If you are unsure whether this type of investing is right for you, seek independent personal financial advice. As the IMF announce "the history of money is entering a new chapter", we take a look at... Britain's New "Track And Trace" Enabled Currency Thanks to Rishi Sunak's new plan, the government could soon have the power to track every pound you spend... decide what you can and can't buy... and even lock your money down if you're spending on the `wrong' things... Dear Fellow Brit, For the first time in half a century, the British authorities are preparing to issue a new currency... ...and if you have ANY money in a British bank account, you need to know how it works. To understand why, let me tell you a story... It begins in China. In Shenzhen, to be exact. October, 2020. The height of the pandemic. In 50,000 homes all over the city, people wake to find these gift cards waiting for them: [3]chart Source: Reuters the wrong place. Do the "wrong" thing and people can find themselves banned from flying, barred from top hotels... one student even had his university spot cancelled due to his father's poor social credit score. In one year alone, the state blocked 17.5 million airplane tickets... and 5.5 million high speed train journeys. So how does a programmable currency fit in? It's the next step. It can give the state total control over people's money... Allows the authorities impose rules on what people can do with their money and their lives... And makes it easy to punish people if they step out of line. Sounds like something from the pages of 1984, doesn't it? But it gets worse. Because this isn't just something the Communists have cooked up. The same technology is under development in more than 100 countries around the world. But if you're proud of Britain's history as a freedom-loving nation... A place where the state leaves law-abiding people like you alone to live your life the way you want... Where things like privacy and liberty are hard won rights we ALL enjoy. Well, you may be wrong. Because right now, as you read these very words... Plans are under way to create a currency EXACTLY like this right here in Britain. Of course, the authorities CLAIM that just because they can track and control your money... that doesn't mean they will. And that's true. If you believe them. Whether you DO believe them or not is up to you. After all, some people love the idea of the state being in total control of the monetary system. If that's you, I wish you good luck. But if you think that there's even the slightest chance the authorities might use this new programmable money to infringe on your privacy, your rights and your ability to control your money... Then stick with me. In fact, as you're about to see, a toxic mix of state organisations and giant global corporations... ...including the Bank of England... the Treasury... IBM... Barclays... ...even 10 Downing Street... ...are all COLLABORATING on making this kind of `track and trace' currency a reality here in Britain. This new currency could fundamentally change how and where you spend your money, and live your life. That's because it won't just be issued by the state, like the money in your pocket. It'll be CODED by it too. Every pound you spend could be watched, around the clock... You could be stopped from buying the wrong things, whether that's a diesel car or donating to the wrong political party... You could be forced to buy into the latest fad, like electric vehicles or plant-based meat... And your money could even be locked down or deleted if you step out of line... It's a radical change to how your money works today. Take a -L-50 out of a cashpoint and you can spend it however you like. Yes, the Bank of England can control how many pounds are in circulation... and what interest rate those pounds pay. But beyond that, you're free to do as you please with your money. Beer. Cigarettes. Diesel. Political donations. A train journey or short flight. It's your money. You're free to spend it how you like... even on stuff that's bad for you (or bad for the planet). But programmable currency flips this on its head. And that's why you need to take it seriously. In fact, if you're not... Then I hate to say it, but perhaps you don't value your freedom or privacy as much as you thought. Think back to lockdown... when the authorities decreed where you could go... who you could see... how far you could travel... even what medications you put in your body... Now imagine that level of control over your money. And not just for a few months... but FOREVER How long will it be before we all wake up to find the new currency is here for good? I can't say. But if you join the dots, the picture becomes clear - some form of programmable money is in the works: the UK already has a digital currency `taskforce'. [4]chart Source: Reuters The Bank of England has begun a `consultation'. The Deputy Governor of the Bank of England has claimed Britain may "need" a digital currency. And in November 2022, a consortium including IBM, Boston Consulting Group and Barclays Bank began trialling one. So we're much further down the road than you might realise. But what I can say for certain is right now you still have time to DO SOMETHING about this. One day that time will run out. That's why in this briefing I'm going to share four things you can DO with your money to help protect yourself as this new digital currency launches. If you value your money and your freedom, then making these four moves now will put you one step ahead of most people. We'll talk more about what you can DO in just a second. But first, I should explain why I'm writing to you today. What went wrong with Britain Time was, you could save and invest without worrying about what the state thought of you. Yes, you'd pay taxes. But it ended there. The state stayed out of people's business. Savers, wealth builders and entrepreneurs were celebrated. Putting money aside for the future or starting a business was respected. But now? It's all upside down. The government is up to its eyeballs in debt. [5]chart Source: UK Public Spending No matter what the problem is, the answer seems to be the same thing. Spend more. An energy crisis. A pandemic. A climate disaster. There's no problem that can't be solved by more spending, more debt, more reckless decision making. Never mind the fact all this excess has already triggered an inflation crisis unlike anything seen in 50 years. And forced the Bank of England to step in to bail out the entire pension system. Of course, if you've got half a brain you can see what's really happening here. The authorities are losing their grip They can't balance the books. They can't maintain the currency. They can't even manage the economy - without `emergency' interventions every five minutes. And soon, if the rumours are true, they won't be able to keep the lights on. The answer? They need new ways of CONTROLLING what you do with your money. They want to `manage' the economy on a micro level. And that's where Britain's new digital currency comes in. It's the next logical step in this process. It takes the kinds of rules and restrictions on who you could see and where you could go in the pandemic... And applies them to your MONEY. Their boot, your face There have been two major changes to how money works in the last century. The first came as the Great Depression struck in the late 1920s. Back then, most currencies were still backed by gold, which imposed natural limits on what governments could borrow and spend. But with a crisis to fight, that went out the window. Governments around the world - including our own - took their currencies off the gold standard. That gave them the freedom to devalue and spend more freely. Soon the pound had plummeted in value against gold. [6]chart Source: New World Economics The second shift came in 1971, when US President Richard Nixon stopped the dollar's convertibility into gold. That made it even easier for the authorities - and their friends in the banking system - to borrow and spend vast sums of money. Since then, the real value of the US dollar has plummeted... as has every fiat currency in the world, including the pound. Take a look: [7]chart Source: CPI Inflation calculator Two big shifts in the way money works. But one common thread. Each shift granted the authorities MORE power to do as they please... and stripped it AWAY from ordinary people. And that brings me to today... The next big change to the money we use goes much further than anything yet seen. It won't just allow the authorities to create money out of thin air... But it'll give them the power to TRACK where it is... CONTROL how it's spent... And PUNISH anyone who steps out of line. It's the ultimate tool of control This new form of money - known as a Central Bank Digital Currency, or CBDC - runs on the blockchain, the same technology that underpins cryptocurrencies like bitcoin. It's 100% digital. This is not physical cash you can hold in your hand... or withdraw if your bank gets into trouble. And unlike cryptocurrencies, many of which are decentralised and not controlled by any one organisation. This new money is controlled by the state. The authorities create the code... and get to set the rules. And that grants them a never-before-seen level of control over how and where that money gets spent. As The Economist put it: "These "govcoins" [CBDCs] are a new incarnation of money. They promise to make finance work better but also to shift power from individuals to the state, alter geopolitics and change how capital is allocated... Once ascendant, [they] could become panopticons for the state to control citizens: think of instant e-fines for bad behaviour." Note the choice of language. [8]Circular prison Source: Medium A `panopticon' is a kind of prison. The concept was `invented' in the 18^th century by the English philosopher Jeremy Bentham, who thought the only way to alter society for the better was through constant, unverifiable surveillance. He imagined it as a circular prison, with an observation tower in the centre. That tower can - theoretically - see inside every single cell. But the inmates can't see into the tower. They can't know if they're being watched. It's psychological torture. And yet the boffins at The Economist openly chose THAT specific word to describe how these new currencies work. Even the Harvard Business Review has admitted that "one obvious risk is privacy" if a CBDC is introduced. China's government has dealt with these fears with a move right out of 1984. China's government, but not other users, would have the ability to monitor transactions in real time, in what China calls "controlled anonymity". That means no corporation or company can track transactions using the new currency. Users are completely anonymous... ...to everyone EXCEPT THE GOVERNMENT. So, not anonymous then. But to be honest, privacy is the least of your worries. After all, most governments now routinely lean on banks to track and monitor transactions, if they so choose. So if you want true financial privacy, you need a time machine. No - the real threat of these new currencies is the fact that the state controls the code they run on... which makes it possible for the authorities to program them to do all sorts of dark and devious things. No more burgers for you, fatty Say the state decides to pay out a new benefit. It could program that money so that it can only be spent on essentials like food or fuel. But it could go further... It could make sure that money only worked on `approved' food - healthy food, say - to make sure people use it `correctly'. Might sound harmless on the face of it. But it opens up a Pandora's Box of new controls, regulations and ways to try and run your life. As The Australian Spectator asked recently: `So why on earth is this being pursued with such ambition? The only rational conclusion is control. Another form of government control... The CBDC will remove financial independence and autonomy from our lives.' Give the state this kind of power and it's unlikely to end there. The powers-that-be could not only force you to buy the `right' things... they could stop or limit you from doing the `wrong' thing, too. Had too many beers this week? Your money stops working at the bar. Eaten too much meat? Your money only buys vegan food now. Carbon footprint getting too high? No more flights for you. In other words, the authorities could have total control over how and where you spend your money. There's a term for all this: social engineering. Which is exactly what a digital currency would enable the state to do. In a recent Joe Rogan interview, digital currency expert Maajid Nawaz speculated on exactly this kind of outcome: `If you try to buy unhealthy meat it just won't work. You tap your card, you can't buy that thing, but because you've met your quota of burgers - you'll have to buy a vegan meal instead.' Getting people to eat less meat, or quit smoking, or burn less fossil fuels might all win a few extra votes. But what's that famous saying? The road to hell is paved with good intentions Being able to PROGRAM money to achieve whatever the political elite decide is a power no government has ever had before. But they're building the monetary system they need as we speak. They're not even hiding it. Just take a look at what the people who RUN the global money system are saying about this. Tom Mutton, a Bank of England Director, said that Central Banks should consider creating programmable money. He claims a CBDC: `Opens up new technological possibilities, including programming: effectively allowing a party in a transaction, such as the state or an employer, to control how the money is spent by the recipient.' More specifically, they could be used to pursue `socially beneficial outcomes'. To me, that sounds like using YOUR money to `engineer' a society the authorities want. Which should send a shiver down the spine of anyone who values their freedom or privacy So what might those outcomes be? Whatever they decide... This food is bad for you. That car is bad for the climate. The extra -L-100k in your bank is bad for social equality. Who knows exactly what kind of `outcome' the authorities will try to engineer. The point is... Once they control your money... they control YOU To see where all this is going... You only need look at how the EXISTING financial system has been turned into a tool of control - and a means of punishing people - in the last couple of years. Take the "Freedom Convoy" in Canada... At the start of the year, thousands of truckers blocked roads in Ottawa in protest against forced vaccination. In response the Canadian authorities turned the financial system into a weapon. Protestors found their bank accounts frozen... and their vehicle insurance declared invalid. Even DONATING to the cause was enough to see your account frozen. One single mum donated $50 to the truckers and woke to find her account locked. Which showed how willing the authorities are to use money as a weapon. We've seen the same pattern in the USA. It turns out, Bank of America gave the government details of 211 `suspicious' individuals connected to the January 6^th protests. BoA won't say if they were issued a warrant or subpoena... or whether the surveillance broke any laws. But innocent people were called in for questioning as a result. Now the search is on to find out how many other banks did the same thing. Look. It's easy to dismiss these cases. These people have been cast as anti-vaxxers... Trump voters... deplorables. They're easy targets. But add all this up and what do you get? Authorities that are willing to use money as a weapon... Who are developing a new programmable currency.... One that's trackable 24/7... Can be controlled by central planners... And used to punish anyone who steps out of line. And that includes our OWN government, by the way. Because that's a big objection people have when I warn them about this. They dismiss it as something that'll only ever happen in an authoritarian state like China... But that ignores the most important fact. It's being trialled RIGHT NOW If you're prepared to connect the dots, you'll see this kind of programmable currency looks like a foregone conclusion for Britain. Whether the state will USE it in the same way the Chinese Communist Party has remains to be seen. The Bank of England has said that any UK CBDC would run alongside cash and bank deposits and that they will continue to provide cash for as long as the public still want it. It all depends on whether you trust our government or not. Only you can make your mind up about that. But a quick look at the evidence shows you just how fast things are moving... EXHIBIT A: The Bank of England are already `researching' a programmable currency. Remember, Director Tom Mutton has already claimed `There could be some socially beneficial outcomes from that [programmable currency], preventing activity which is seen to be socially harmful in some way.' And there's already a `taskforce' set up to explore how a CBDC would work in Britain. EXHIBIT B: The Treasury is ALSO exploring how a digital currency would work. When he was Chancellor, Rishi Sunak charged the Treasury with the task of understanding how a new currency would work in Britain. He even gave it a name `Britcoin'. Sounds cute, doesn't it? Until you begin to understand just HOW a currency like this could be used. EXHIBIT C: Corporations are ALREADY TRIALLING IT. A private sector pilot of a digital currency called `d-Sterling' is already under way, backed by IMB, Barclays, the Boston Consulting Group, and London law firms Rosa & Roubini and Simmons & Simmons. That pilot began in November 2022. It's happening. And it's happening now. SMOKING GUN: Rishi Sunak is a HUGE supporter Sunak pushed the idea of `Britcoin' when he was Chancellor. Now he's in Number 10, he's got all the power he needs to continue his digital money crusade. Just look at his comments on the subject... `[A CBDC is] all part of the wider story of digital innovation that has delivered benefits to millions around the world and in the UK.' Gushing stuff. But thin on any REAL benefit to anyone except... him. Nobody voted for it. The man on the street has probably never heard of it. But all the signs suggest digital money is coming. Frankly, Sunak may find he has no choice. Every major Central Bank in the world is pursuing a CBDC. The US Federal Reserve... the ECB... the Bank of Japan... the Bank of England... they're all at it. In fact, 11 countries have ALREADY launched their CBDC. We may be forced to move just to avoid getting left behind. Add all that up and you'll probably reach the same conclusion as me. A programable digital pound is coming - and you need to prepare for it A private version of `d-Sterling' is already being piloted. Soon you'll probably hear news the banks and other tech businesses are using it. You'll hear a lot of technical mumbo jumbo about how the financial system is becoming faster, more efficient, more modern. It'll pass right over most people's heads. You'll hear even more stories about how use of cash is declining. It'll get harder to use cash. The number of card only shops and restaurants will keep growing. That initial CBDC `pilot' will grow into something much bigger. Then you'll hear news that all pounds - which are already `digital' - have been replaced with a new `Britcoin', issued by the state. Your bank balance won't change. And so most people won't notice. The fact that these new pounds are programmable won't get a mention in the mainstream media. But with that, the `bait and switch' will be complete. Then we could be just one crisis away from this new money being used against us. It could be money that expires unless it's spent, to stimulate the economy in a crisis... It could be used to lock you and your money down in a new public health crisis, meaning you can't spend a single pound unless the authorities deem it essential. Most likely, it will be used to limit the amount of carbon you and your family use, to help fight climate change... It could be anything. Everything is a `crisis' these days. Inflation. Inequality. The weather. Who knows what'll be next? The point is... once your money is programmed by the state, it's over. Privacy. Freedom. Liberty. It'll all be on the bonfire. As Alex Gladstein, chief strategy officer at the Human Rights Foundation, put it: `The end of cash and the insta-analysis of financial transactions enable surveillance, state control, and, eventually, social engineering on a scale never thought possible.' Dystopian? Absolutely. Look, I could be wrong. I HOPE I'm wrong. Of course, if Rishi Sunak or Andrew Bailey were here now, they'd probably accuse me of being extreme. They'd say that just because the authorities CAN program money doesn't mean they WILL. There's no guarantee they'll track your carbon use... or dictate what you can eat... or how you can spend your money. They COULD... But they won't. Now, ask yourself... Do you believe them? Do you trust the authorities NOT to use the extraordinary power a digital pound would grant them? Or do you think they'd just be tempted to meddle and interfere? I`ve laid out what's happening for you. And I've shown you where I think all this is going. I think the risks are clear. You may agree with me. Or you may not. I'll let you make your own mind up. But if you share my concerns and want to take some sensible precautions... Let's talk SOLUTIONS [9]Nickolai Hubble Financial author, analyst and insider - Nickolai Hubble My name is Nick Hubble. I'm a writer, author and investor. In fact, I actually started my career as an intern at Goldman Sachs. But now I do something far more interesting. I'm the editor of The Fleet Street Letter, Britain's oldest investment newsletter. Founded in 1938 with the goal of sharing `the news behind the news', The Fleet Street Letter has a long history of helping forward-thinking, responsible private citizens navigate their wealth through periods of war, political conflict and economic crises, not to mention the many investment booms along the way. Readers of this letter were warned that war was coming to Europe nine months before Hitler invaded Poland... They were the first in the West to know that the Soviets possessed nuclear weapons (invaluable if you were investing in defence stocks)... If you'd been reading this in 1987, you'd have had ten weeks to prepare before Black Monday brutalised investors... In 1999, you'd have been out the door four months before the dotcom bust arrived... In 2008, you'd have received a six-months heads-up before Lehman Brothers went broke... And from January 2016 to earlier this year, had you invested alongside The Fleet Street Letter's portfolio recommendations (and followed each one to a tee)... you would have grown a -L-100,000 investment pot into just under -L-200,000. Past performance is not a reliable indicator of future results. And that brings me to today... Our mission at The Fleet Street Letter is very simple. To arm you with the intelligence and insights to stay one step ahead of the big financial and geopolitical trends shaping your world... And to show you what to actually DO with your money to protect and potentially profit from those trends. It's a big challenge. But one we're well set to take on. For instance, we offer our readers a fully vetted investment portfolio of trading ideas, stock picks and other wealth-building moves, put together by master trader Eoin Treacy. Eoin advises four different $100m funds... he's known the world over as an authority on the financial markets... ...in fact, there are several funds that don't let their traders on the trading floor until they've been coached by Eoin. Eoin's our Investment Director... the man who turns our INSIGHTS into ACTIONS you can take with your money. And then you have our real `trump card' - our `man on the inside' when it comes to politics, geopolitics and finance. Nigel Farage. See, Nigel's a big part of our team... bringing his decades of experience helping predict (and indeed shape) the political trends that have turned our world on its head. Nigel has incredible connections... amazing experience... and above all, he's willing to say and predict things that the elite may scoff at... until they come true. And let's face it: there are plenty of people who'll scoff at this message. The idea the government wants to impose TOTAL control over the people using a new, repressive form of programmable currency... Sounds dystopian, doesn't it? But as you've seen, there's strong evidence that it's coming... and much sooner than many people would think. So what should you do, if you're worried? It's not easy. There's no one easy move you can make. But I reckon you can put yourself ahead of the vast majority of others by making a handful of moves we've put together for you. The first step is simple: STEP #1: Understand everything you can about CBDCs [10]Circular prison The first thing we want to send you is a crucial online workshop called The Fleet Street Letter Guide To Surviving CBDCs. It's an in-depth conversation between me and Nigel Farage, designed to help you understand what your options are if you're worried about the rise of CBDCs. You'll see Nigel's take on the threat they present to you and your money. But we'll also talk you through the different options open to you if you want to protect yourself. Is gold better than bitcoin at protecting privacy? Will the stock market be safe? How much cash should you have as an `emergency fund'? Are bonds, commodities and other `mainstream' investments still safe? These are the kinds of questions we grapple with. You'll walk away much better informed... and with a clearer idea of what to do next. That's why I'd urge you to watch this video before you do anything else. But in step two of our plan, they'll help you go further than that... STEP #2: Get a portion of your money off the financial grid As long as your money is tied up in the `traditional' financial system - banks, savings deposits, that kind of thing... It's at risk of being converted into a new, digital only currency. Therefore, the only logical thing to do is get a some of your money out of the system. Exactly how much is your choice. I'm not just talking about taking cash out and stuffing it in your mattress. I mean investing OUTSIDE of the traditional stock, bond and real estate markets. For instance, there's one `non-financial' asset that even rich and powerful families like the Kennedy's have turned to through history - in fact, JFK personally put money into this whilst President. But it could still be a good bet today. Or there's another `hold in your hand' asset that's totally unconnected to the financial system - but that already increased in value by 367% in the decade to 2019, according to accounting firm PwC. That's BEFORE the supply of this asset decreased by 90%. You'll get the full story in the report. [11]Circular prison Plus you'll hear about seven other steps you can take today to get some of your money `off grid'. The good news is, we've just finished a new report that contains everything you need to get some of your money off the grid. It's called Real wealth: nine alternatives to the stock market. This report can be yours today. I'll show you how to download a copy in a second. But that's only part one of the plan... STEP #3: Put your faith in REAL money Gold can't be printed. It can't be manipulated. It can't be tracked... controlled... distorted... or managed by the state. In other words, it's the EXACT OPPOSITE of the centrally planned and managed money the authorities are working on at the moment. Gold is the most stable form of money the world has ever known. It's REAL money. Throughout human history, there have been thousands of currencies issued by governments. To my knowledge, they've all gone to zero in the end. (The Aussie dollar has lost 99% of its value against gold in the last 100 years... so we're nearly there once again.) But gold has been seen as currency across the globe for more than 5,000 years. And when digital currencies radically alter the global banking system... I'd rather put my faith in 5,000 years of human history. And, of course, it can't be tracked. So if you value your freedom and your privacy, owning gold is a must. That's why I want to send you another report we've put together ... [12]Circular prison It's called Gold 101: the unspoken advantages of a UK gold investor. Open up your copy and you'll get answers to questions like these: Is gold safe to invest in? How much should you invest in gold and other precious metals? Where can you buy it? How do you store it safely to avoid confiscation or a `lockdown' on money? What kinds of bullion and coins should you be looking to buy? And how could you `spend' gold if (or rather when) CBDCs launch? You can grab your copy of this report in just a second. It comes as a bonus when you become a subscriber to The Fleet Street Letter. This is quick and easy to do, and doesn't cost the earth. But it could have a BIG impact on your money Right now it's more crucial than ever that you have experienced, credible and knowledgeable financial advice and ideas. And not just because of the rapidly emerging threat of centrally controlled money. Look around you. Inflation has broken out to 40-year highs. Global stock markets have had a terrible year. So have bonds... cryptos... there are even signs property is on the slide. The point being, it's more than rough out there. Make the wrong move with your money and you can pay the price. But that's what we're here for: To help you make the right moves That's why today I'm inviting you to take a one year subscription to The Fleet Street Letter. You'll get the two reports I've told you about the second you subscribe. You'll also get: 12 issues of The Fleet Street Letter a year. The financial world moves fast. New trends and threats develop. Old ones die. There's no one single `set and forget' approach you can take to thrive in the modern financial world. That's why our monthly newsletters are so valuable. They're your way of staying up to date with the latest thinking, ideas, threats and opportunities. That might be a new risk developing... a new moneymaking opportunity... a new position for your portfolio. It depends what's happening in the world. But whatever IS going on... we'll be there, on your side and in your corner. Then you'll get: Full access to the The Fleet Street Letter portfolio [13]chart This is what REALLY sets our work apart from the mainstream. We're not just here to explain what's happening. We translate that into an entire portfolio of investment ideas you can go out and buy to turn that knowledge into action. Generally speaking, the recommendations we share with you will involve the stock market. That involves risk - as all investing does. Some of our recommendations may be listed abroad. That involves foreign currency risk. We'll explain this to you clearly with every new recommendation. In fact, EVERY SINGLE idea we share with you will contain a full write up of the risks, the potential rewards, everything. That's huge. Think about it. You can go pay -L-700 for a subscription to The Financial Times... But NOWHERE in those pages of news will you find a single investment recommendation. It's all fluff. All noise. It doesn't matter how many PhDs the editorial teams have. They're not sharing anything you can ACT ON. The Fleet Street Letter is different. You'll walk away from almost every issue with a fully researched investment recommendation that ties into our worldview. And here's the crazy part: though I'd argue we offer far more value, the cost of our work is a FRACTION of what you'd pay for a year of The FT. In fact, one year of The Fleet Street Letter costs just -L-199. That's it. That's all you pay for a team of world class financial analyst sharing their most valuable ideas AND investment recommendations. Why so cheap? Our business only really works when we have a committed, engaged readership that's willing to stick around long term. But we know that you're probably sceptical about people who make you promises on the internet. And we know you want to actually SEE our research before making up your mind. So we do two things: * We make sure some of our best research is priced WAY below its `true' value... so that any investor or saver can afford it. At -L-199, that's certainly true of The Fleet Street Letter. * We offer a complete 30 day money back guarantee on that subscription fee. Anything you pay today is fully refundable for 30 days. So if you're not delighted with the analysis, ideas and recommendations you're getting, you can get a full refund. That's a fair deal. And it puts the pressure where it should be - on ME and the team to deliver world class research. And to give you an extra incentive to give this a go, you can get your FIRST year of The Fleet Street Letter for half price... Bringing that first year price right down to -L-99. Let me tell you, that's an insanely low price. In that light, -L-99 for a year is practically giving this away. But it means there really is no reason for you to turn this offer down. If you want in, all you need to do is click RIGHT HERE, or on one of the `Subscribe Now' buttons below. You'll be taken you a secure order form. Everything you get as part of this offer is laid out in black and white. From there you'll be able to start your subscription. You should have all of your reports and guides in your inbox waiting for you within 30 minutes of starting your subscription. So if you share our concerns about loss of freedom, privacy and control a CBDC would entail... If you want a world class, highly respected team of experts in your corner... Then there's only really one thing left to do. Click the link below to get started. [14]`Subscribe Now' (You can review your order before it's final) Just remember what you're up against here. We're on the cusp of perhaps the biggest shift in the way money works of our lifetimes. The Bank of International Settlements said CBDCs were likely to be: `A game changer in the international financial system.' This is a fundamental shift to how money works. It could radically change your relationship with money and the state, turning money into a tool to watch you... and dictate what you can do. Track. Control. Punish. This is the `Techno-Communist' world the China is moving towards already... And our own government is preparing to trial the same kind of money. And if you think I'm exaggerating the threat... just look at the advice central banks are getting from the OMFIF, a think tank designed to shape Central Bank policy. `Programmable money is designed with in-built rules that constrain the user. These rules could mean that money expires after a fixed date or its use is restricted to a certain set of goods... CBDCs must include programmability as a feature.' If that last line worries you - and it worries me - then I reckon it should be all the motivation you need to take action. That's what we're here to help you do. Take action. Defend your freedom and your privacy. And take CONTROL of your own money. All you need to do to accept this offer and start your subscription now is click on one of the links below. Our team will do the rest. [15]`Subscribe Now' (You can review your order before it's final) I can guarantee you a warm welcome to The Fleet Street Letter. Best, [16]signature Nick Hubble Editor, The Fleet Street Letter December, 2022 [17]`Subscribe Now' (You can review your order before it's final) [18]chart Important Risk Warnings: Advice in The Fleet Street Letter does not constitute a personal recommendation. Any advice should be considered in relation to your own circumstances. Before investing you should consider carefully the risks involved, including those described below. If you have any doubt as to suitability or taxation implications, seek independent financial advice. General - Your capital is at risk when you invest, never risk more than you can afford to lose. Past performance and forecasts are not reliable indicators of future results. Bid/offer spreads, commissions, fees and other charges can reduce returns from investments. There is no guarantee dividends will be paid. Overseas shares - Some recommendations may be denominated in a currency other than sterling. The return from these may increase or decrease as a result of currency fluctuations. Any dividends will be taxed at source in the country of issue. Funds - Fund performance relies on the performance of the underlying investments, and there is counterparty default risk which could result in a loss not represented by the underlying investment. Bonds - Investing in bonds carries interest rate risk. A bondholder has committed to receiving a fixed rate of return for a fixed period. If the market interest rate rises from the date of the bond's purchase, the bond's price will fall. There is also the risk that the bond issuer could default on their obligations to pay interest as scheduled, or to repay capital at the maturity of the bond. Taxation - Profits from share dealing, including both capital gains and dividends, are subject to capital gains tax and income tax respectively. Interest received from bonds is subject to income tax. Capital gains from commodities are subject to capital gains tax. Tax treatment depends on individual circumstances and may be subject to change in the future. The Financial Conduct Authority does not regulate certain activities, including the buying and selling of commodities such as gold, and investments in cryptocurrencies. This means that you will not have the protection of the Financial Ombudsman Service or the Financial Services Compensation Scheme. Investment Director: Eoin Treacy. Editor-in-Chief: Nick Hubble. Editors or contributors may have an interest in shares recommended. Information and opinions expressed do not necessarily reflect the views of other editors/contributors of Southbank Investment Research Limited. Full details of our complaints procedure, privacy policy and terms and conditions can be found at, [19]www.southbankresearch.com. The Fleet Street Letter is issued by Southbank Investment Research Limited. Registered in England and Wales No 9539630. VAT No GB629 7287 94. Registered Office: 2nd Floor, Crowne House, 56-58 Southwark Street, London, SE1 1UN. ISSN 0300-4228 Contact Us To contact customer services, please call us on 0203 966 4580, Monday to Friday, 9.00am - 5.30pm. Southbank Investment Research is authorised and regulated by the Financial Conduct Authority. FCA No 706697. [20]https://register.fca.org.uk/. (c) 2022 Southbank Investment Research Ltd. Fleet Street Letter portfolio performance: Whisky Portfolio annual performance: 2017 +5.4% / 2018 -4.3% / 2019 +21.4% / 2020: +20.1% / 2021 +12.9% Soda Portfolio annual performance: 2017 +8.8% / 2018 -1.8% / 2019 +19.6% / 2020 +8.9% / 2021 +14.3%
https://decentralizedlegalsystem.com/wp-content/uploads/2023/01/Shocking-Tru... https://twitter.com/Decentral_Law The Truth About CBDCs… Design Choices by ECB & FED Analysed… Both Are Aiming At Tight Control Over Accounts, Interest and Spending... A Digital Prison Is Being Built in the Shadows… [Due Diligence] self.ethereum by DecentralizedLaw2 …The Truth About CBDCs… Ominous Design Revealed… A Digital Prison Is Being Built in the Shadows… Massive overreach of Central Banks underway.They are designing a new kind of money allowing them to: Establish centralized settlement of ALL payments… Tie digital identities to all transactions and record them on a central bank ledger forever… Force built-in features such as limits on how much CBDC you can have in your account, negative interest rates, account charges in line with regulatory objectives, and caps on conversions and spending… Create “money” that is traceable, programmable, taxable, and subject to the monetary whims of central planners… Stamp out spending without permission and slowly phase out cash… The war on money continues. The aim: to replace cash with a system of centralized control over ALL transactions and account balances. This report explains exactly what to expect from Central Bank Digital Currencies (CBDCs); it looks at the possible design options, what central banks have decided so far, and the likely outcomes. The ugly conclusion is that CBDCs are a new form of currency that allows a small group of unelected people control over what we can, and cannot do with our own money… <What is Going On?_ A lot has been said and written about CBDCs; most was speculation. But now, evidence emerges of what is being built. Given that our financial system is complex, one cannot just click a button and introduce a CBDC. As of now, much work has already been done, and much is still to be done. This report traces the historical path of the development of CBDCs. We start with looking at what CBDCs are. Then we look at why we need them, as explained by the Bank of International Settlements (BIS). Next, we look at how CBDCs are designed. As the central regulator of central banks, the BIS made an inventory of all the different design options for CBDCs. It also provided an honest account of the potential benefits and downsides of those choices. With this knowledge, we can analyze the design choices made so far. We observe how the European Central Bank (ECB) is going “full steam ahead” with their CBDC. We come to the shocking discovery that the most important design choices have already been made, and that there have even been companies hired to start programming… Next, we analyze what is happening in the US. The US Federal Reserve (FED) is not as far advanced with their CBDC as the ECB. However, their frank report reveals that their CBDC design choices result in similar control mechanisms as that of the ECB—and it even exposes possible sinister motives… To put it bluntly, what central banks are choosing for design so far tells us all we need to know about where this is heading. Authorities are downplaying what is going on and pretending that all is open for debate and subjected to the democratic process. But the designs they are secretly pushing forward open the door to the dystopian future we all fear… <What Are Central Bank Digital Currencies?_ Before we can continue, we have to define CBDCs; after all, we already have digital money. But CBDCs and what we currently use as digital money are VERY different things. What we currently refer to as digital money is not issued by the central bank. In the modern financial system, the central bank only creates money in the form of cash (bills and coins), and cash deposits with banks. All other money is created by private banks. That’s right: the digital money currently in use is created by private institutions. The digital units in your bank account are issued by a PRIVATE bank. CBDCs, on the contrary, are digital PUBLIC money, issued by the central bank. CBDCs are a totally new kind of money―with many new features. To summarize, we go from two types, to three types of retail money: Cash (public money = current) Digital money (private money = current) CBDC (public money = new) Source: ECB, Digital euro – our future money Note that CBDCs are essentially just different forms of the same currency. One unit of cash is on par with one unit of CBDC; they are interchangeable. For reasons explained later, these forms of money are also intended to exist alongside each other for the foreseeable future. To summarize: central banks are issuing a new version of money which is a liability of the central bank. As such, CBDCs are not just another form of digital money. As PUBLIC money, they are more comparable to the other form of public money: cash. This begs the question: why do we need an addition/replacement for cash? <Why Do We Need CBDCs? (According to Central Banks)_ There is much debate on why CBDCs are being rolled out. To avoid speculation, we will stick with what the BIS has said about why we need CBDCs. This approach helps us to understand the decisions central banks have taken, and what the logical outcome will be… Financial Stability and the Reduced Role of Public Money Over the past few years, cash has become less popular. This presents a problem because, as shown, cash is currently the only form of public money used by the public (retail). And so when cash is phased out, so is public money. A principal concern of central banks is that if, in the future, cash were no longer widely accepted or available, a severe financial crisis in the private financial system might create further havoc by disrupting day-to-day business and retail transactions.1) CBDCs would be a way to keep the economy functioning. Monetary Policy Another benefit of CBDCs touted by the BIS is that they allow for a more direct influence on monetary policy. Arguments for issuing a CBDC include potential “strengthening of the pass-through of the policy rate” to money markets and deposit rates, and helping to “alleviate the zero (or effective) lower bound constraint.”2) The BIS also argues for direct stimulus. Let’s take a look at each benefit… Strengthening of the pass-through of the policy rate means more control over the interest rates charged throughout the financial system. Central banks wish to bypass private banks and set rates directly. From the moment that households consider a CBDC to be an alternative to commercial bank deposits, banks will have less scope for independently setting the interest rate on deposits of the general public.3) The zero lower bound describes the limit of negative interest rates. In short, in an environment of increasingly lower interest rates on bank accounts, people might pull their money out of the bank. It is, after all, better to hold cash than money in an account that charges (deep) negative interest rates. To address this issue, the IMF circulated a paper, called “Breaking Through the Zero Lower Bound.”4) It explores the idea of having different interest rates for different forms of money. For example, an additional interest rate on cash can very easily be charged on private banks through what is known as the “cash window” at the central bank. The central bank charges the regular banks for the use of cash, and the banks then charge the users through extra fees on withdrawals and deposits. This way, the use of cash can be made more expensive than digital forms of money.5) This mechanism can be applied to steer the use of different forms of money, and even be a stepping stone on the road to a cashless society.6) As you’ll see later, the IMF’s idea of different interest rates for different kinds of money is vigorously embraced by central banks. For example, the Nigerian central bank used this idea to restrict cash shortly after introducing their unpopular CBDC.7) And finally, according to the BIS, CBDCs could facilitate a more direct distribution of fiscal stimulus to those members of the general public who need it. This could make such policies more effective than general helicopter money or distribution through the indirect and imperfect banking channels which have been used in the past.8) Financial Inclusion Another buzzword central banks like to use is financial inclusion. With a CBDC, everyone could have access to basic financial services. This would be especially interesting for people not served by the current financial system, which is a situation more prevalent outside the developed world. But as always, like much else in the diversity and inclusion agenda, these rosy goals are mostly a facade. One of the most prominent organisations behind financial inclusion is the United Nations, for whom the financial inclusion agenda allows the unlocking of *“public and private resources”*9) to fund their “Sustainable Development Goals.”10) The UN, in turn, coordinates its policies through the “Better Than Cash Alliance”,11) an NGO acting as a front for the interests of, among others, the Bill & Melinda Gates Foundation, Citi Bank, MasterCard and Visa Inc.12) In this light, inclusive finance can be seen as the conversion of the unbanked into tax and debt serfs, who pay transaction fees and serve as collateral for the financial system. Financial innovation The BIS is discussing all sorts of other features, all made possible by the idea of “programmable money.” As we will see, most of this innovation is in the interests of central banks. One of the promised benefits of CBDCs is that it can make international payments much more efficient and transparent. Because these kinds of liabilities are being built from scratch, CBDCs are billed as offering a unique opportunity to facilitate easier cross-border payments.13) <CBDC Design Choices_ Before we continue, it is important to note that there have been few (official) decisions made as to how to move forward. The introduction of a CBDC requires significant work, and central banks are moving slowly in order not to break anything. In this next section, we look at the overviews the BIS has made on designing CBDCs. Lots of research has been done across academia, financial institutions and the central banks; and the BIS has created a nice summary of the design options. It also reveals what the benefits and downsides of these design choices are. With this knowledge, we can then look at the design decisions that have already been made by the ECB and FED, and hence conclude what is happening behind the scenes. Tokens vs Identity based First of all, a choice has to be made as to whether the CBDC is to be token-based, or tied to an identity through an account. According to the BIS, it has to be either one or the other. Source: BIS Quarterly Review - March 2020 A token-based system would work like other crypto-currencies; those with the private keys can spend the money. But the drawbacks, according to the BIS, are severe. One is the high risk of losing funds if end users fail to keep their private key secret. Furthermore, it would be challenging to design an effective regulatory framework for such a system. Law enforcement agencies would run into difficulties when seeking to identify claim owners or follow money flows, just as with cash or bearer securities.14) In addition, a token system would nullify the central bank objectives discussed above. The other option is that the use and ownership of a CBDC is accessible through an account tied to an identity, similar to how the current banking system operates. To make this happen, the BIS calls for “strong” identities for all account holders; where each individual is tied to one identifier across the entire payment system.15) The disadvantages of an account-based system, according to a 2018 paper of the BIS, are that you cannot have anonymity vis-a-vis the central bank, and there cannot be private peer-to-peer transactions without an intermediary as is currently possible with cash [see graph].16) Source: BIS - Committee on Payments and Market Infrastructures - CBDCs (2018) Direct or indirect liabilities? The next question: should people have an account directly with the central bank, or through intermediary financial institutions? Here, the considerations are not just about what is desirable, but also what is practically feasible. Currently, central banks simply do not have the infrastructure to hold accounts for hundreds of millions of citizens. In addition, there are regulatory obligations, such as KYC and customer due diligence, that central banks do not have the infrastructure and mandates for.17) The most logical outcome would be for central banks to use the existing financial companies to roll out CBDCs. On a more technical level the question then becomes: is the CBDC to be a liability on the balance sheet of the central bank, or on the balance sheet of a financial intermediary? With the latter option, the CBDC would be an indirect liability of the central bank, also known as a “synthetic CBDC.” The BIS does not like this idea.18) Centralized vs Decentralized Another choice needs to be made between using a decentralized settlement system, or a centralized one. Firstly, for regulators, “decentralized” does not mean the same thing as it does to the industry; they see it as a few regulated entities validating the settlement system.19) Moreover, regular consensus mechanisms have too much overhead and are too slow for the large number of transactions needed.20) An issue the BIS has with a decentralized CBDC is that it means that a decentralized network makes adjustments to the balance sheet of the central bank. This increases the risks to the system (according to the BIS).21) Programmability One of the main questions a central bank has to ask itself is whether it is going to create programmable money. What is programmable money? The US Federal Reserve provides a good definition: “a digital form of money and a mechanism for specifying the automated behavior of that money through a computer program (this mechanism is termed “programmability” in this note).”22) Across the pond, in individual countries within the EU, the need for programmable money is being debated. However, as you will see in the following sections, programmability is an essential part of CBDCs. The ECB has even already released an API for institutions to start programming! Financial Stability Requirements The fact that CBDCs are going to be exchangeable for digital currencies results in some MAJOR risks to the financial system. After all, CBDCs make it easy to pull your money out of a private institution (risk), and deposit it with the central bank (no risk). If CBDCs could be freely traded, the moment rumors spread that a bank is having issues, all account holders will convert their account balances to CBDCs guaranteed by the central bank. You could have instant bank runs, and collapses in the financial system would happen as quickly as they do in the crypto space. In addition, adding CBDCs increases the total amount of money in circulation, creates even more inflation at a time when people are already having problems paying their bills. As a result, any CBDC needs a built-in mechanism to limit the amount of total CBDC that can be issued, and limit how much can be exchanged for digital currency. In short, a programmable aspect of the CBDC has to come into play. We will see later how both the ECB and Fed are already committed to using financial stability as an excuse to take full control over how CBDCs can be held, charged, and exchanged. Monetary Policy One of the main activities of central banks over the last decade has been trying to manage the economy through monetary policy. Up until now, these interventions have not always been effective in kick-starting the economy. CBDCs can give the central banks, when properly designed, much more direct tools for implementing monetary policy. Privacy Privacy is one of the main concerns of regulators. Or at least, it is the main concern for their potential users. So this issue has to be addressed in the design of the coin. It is worth noting that privacy means something different for central bankers and for end users. In the crypto space, it means that the technology makes it impossible for anyone to track your purchases.
From the point of view of central banks, privacy means that the organisations monitoring and facilitating your payments are under constraints as to what they can and have to do with your data.23)
Moreover, central banks compare the privacy of CBDCs with data-mining private financial service companies, and with transactions being done on public blockchains. They argue that in that light, public institutions are better at safeguarding privacy.24) For the design of a CBDC, a central bank has to make a decision as to what level of privacy a coin will have, taking into account that full privacy is considered incompatible with other policy objectives such as KYC and AML compliance. As we will see, there are strong indications that privacy (as it is understood by the crypto industry) is not going to be built into the CBDC system. Interoperability Central banks will have to make certain design choices such as whether foreigners are to be able to hold accounts with the central bank, or if there is to be some sort of exchange facility, perhaps similar to what the crypto industry calls an atomic swap. A coordinated CBDC design effort could take a clean-slate perspective and incorporate cross-border payment options right from the start.25) Private vs public chain On a final note, investors in existing blockchains, such as XLM or XRP, have been publicly claiming that CBDCs will be built with their chain as the base layer. This is simply NOT going to happen. As previously mentioned, CBDCs are liabilities on the balance sheet of the central bank. There is no way that they are going to base this on an existing blockchain, because it would mean they would have to take full control over the network. Now that we understand the different design choices available, we can look behind the scenes at how central banks are applying them―starting with the ECB! <The Digital Euro; ECB Design Choices_ To understand the process of the creation of the digital Euro, we have to recap how the EU works. This is well described by Todd Huizinga, a former American diplomat to the EU. He explains in detail that the EU is run by elites who wish to create an “ever closer union,” regardless of the desires of the populations of individual EU countries.26)) As a result, the EU has created a culture where policies are presented as still being debated and subject to democratic principles, whilst in fact, behind closed doors, the direction is being agreed upon in backroom deals. The same seems to apply to the EU’s CBDC, the digital Euro. The design and building of the digital Euro is at an advanced stage, while officially nothing has been decided. The reality however is that the issuing of the Euro, and logically also the design of the digital Euro, is delegated to the European Central banking system.27) And as you will see in the remainder of this section, the digital Euro train left the station a long time ago, with funding already secured and companies being hired to build the required infrastructure. As it stands now, legislation is to be finalized in Q1 2023. And only in Q3 2023 will the decision on the digital Euro be formally approved (note that by then the design will be finished).28) The design choices of the digital Euro In 2020 the ECB published their “Report on the digital Euro.”29) It sees the future Euro as a “safe digital asset with advanced functionalities”30) and with “profound implications for key areas of central banking, for the broader economic and financial system, and, ultimately, for the life of European citizens”31) The digital Euro would be first of all another way to supply Euros, convertible at par with other forms of the Euro. A digital Euro will be a liability of the Eurosystem and therefore by definition risk-free central bank money.32) Programmability The digital Euro should keep pace with state-of-the-art technology at all times in order to best address the needs of the market. Among required attributes are: usability, convenience, speed, cost efficiency and programmability. It should be made available through front-end solutions throughout the entire Euro area and should be inter-operable with private payment solutions.33) Programmability is going to be required for a number of desired features. There are going to be controls on how much money can be exchanged between different forms of the Euro,34) different interest rates on different forms of the Euro, and limits on what one can hold and/or transact in crisis situations.35) There will likely be a maximum amount of CBDC which can be held by one person at no additional cost.36) In terms of monetary policy, the digital Euro should be remunerated at interest rate(s) that the central bank can modify over time,37) and with different interest rates applied in different cases.38) To get an idea of how much digital Euros each account owner is allowed to own before being faced with restrictive measures (such as negative interest rates), the Dutch central bank suggests that 3.000-4.000 Euro should be enough for most Dutch citizens, as it represents one month’s living expenses and a financial buffer for unforeseen expenses(!).39) Next to the account features, there is work being done on special payment instructions, such as payments done between machines.40) In short, the digital Euro is going to be programmable, and not in a way that improves financial freedom. Account Based Access and the Digital Identity The BIS report taught us that central banks can issue a token or an account based system. The ECB, indeed, discusses both as possible options.**41)**A pure bearer (token) system, as exemplified by regular crypto currencies, would take away the control of the ECB. Thus, according to the ECB, such a system can only be allowed when both users are uniquely identified, for example with biometrics, e.g. fingerprint and iris recognition.42) The account-based system, on the other hand, would be operated in the same way as the current banking system. This is the preferred system of the ECB, where they operate the back-end while (existing) supervised intermediaries operate the front-end.43) As we see shortly, financial service providers have already been hired to build this system. As we speak, the infrastructure for the digital Euro is being built, along with an EU-wide digital ID. This digital ID, governed by the eIDAS Regulation,44) aims to help business, citizens and public authorities carry out electronic interactions. This digital ID will contain your relevant data, such as name, address, biometrics, driver’s licence, medical data, and will be used to facilitate transactions, open bank accounts, (online) shopping, financial services (such as insurance) and God knows what else. This digital ID was approved in early December 2022 (but, like the CBDC, was already being built and funded long before that). Central or Decentralized Control The ECB’s 2020 report repeats the BIS’s options of having a decentralized settlement system. However, the ECB is not going for this model; they state that the central bank will control the back-end, and has control over all the units that are to be created.45) Other Possible Features Other design options are discussed, such as the possibility for hardware “wearables”,46) virtual cards with additional features such as shorter expiration date and spending limits, and a pan-European merchant solution.47) Privacy only for “low-value transactions” The above statement is from a more recent letter by Fabio Panetta, the driving force behind the digital Euro. According to him, the ECB will explore if they can “allow” some anonymity in the system.48) The ECB is addressing privacy in response to a public consultation where the ECB asked European citizens what they thought of a European CBDC. It received an avalanche of negative responses, and privacy was the most cited worry.49) But the statements of the ECB on privacy are contradictory. In public, officials tout it as an important feature. But if you then look at their most recent internal presentation on privacy they explain that “user anonymity is not a desirable feature, as this would make it impossible to control the amount in circulation and to prevent money laundering.”50) The truth is that a gradual shift to digital payments implies “less privacy by default.” The ECB suggests that the digital Euro should be designed so that the Eurosystem should only be able to see the “minimum transaction data.”51) However, they are settling the transaction and will need to know who is paying what to whom. It is quite clear that privacy is not built into the system. The ECB suggests that some privacy can be allowed for certain “low-value payments” and “offline functionality.” However, “higher-value transactions would remain subject to standard controls.”52) <Programming the European CBDC: ECB Software Package_ On the 7th of December 2022, the ECB published a package for financial intermediaries to start building applications for the digital Euro. The publication contained cover letters confirming the design choices discussed above, but also a software package with the Application Programming Interface (API), a set of defined rules that explain how the computers of banks are to communicate with those of the central bank.53) Source: ECB Website, Digital Euro API package This package provides a programming standard for banks and payment providers that serve the general public; it allow them to process payments digitally, while the Eurosystem settles the payments. The ECB is testing a system where intermediaries get to program different kinds of transactions. Five companies have been selected to build software integrations on a settlement layer hosted by the ECB. Each will test a different type of transaction.54) As an Annex to the article, one can download the code of the actual API.55) From the source code, a number of additional conclusions can be drawn about the model currently being pursued: The digital Euro will have intermediaries deal with clients, and the ECB ultimately settling all the transactions. The intermediary creates the payment, the Eurosystem approves, and then a callback confirms the details of the transaction, with details on the time and date it settled. Despite the non-stop bashing of Bitcoin by the ECB, the current proposal uses the same technology (UTXO, pub/private signatures) and even the same security model (secp256k1) as Bitcoin. The ECB is literally creating a Bitcoin rip-off and may even be re-using open source Bitcoin code… The ECB will respond to every payment request with either “SETTLED” or “FAILED.” Meaning that it has the ultimate control over what payments do and do not get approval. It is unclear what conditions would result in a failed payment. Given the large number of transactions the ECB will have to process, and the risk of running complex software at a settlement layer, it is hard to imagine the ECB programming payment conditions for specific cases. However, running a payment through a sanctions list, or a list with basic conditions might be feasible. Moreover, it seems likely that programming features will be enforced at the layers above the settlement layer. For example, the ECB is working on a “Dedicated programmability platform layer” between the settlement layer and the intermediary layers.56) Source: ECB, Programmable payments in digital euro The documentation explains how intermediaries create wallet addresses on behalf of their clients. It is only this address the ECB sees. The more sensitive account details are kept with the financial service provider. This is explained as safeguarding privacy. However, a permanent record of all transactions is stored. All the ECB needs to do is match a name to each address, and it sees everything. It is as of yet unclear how monetary and financial stability objectives are going to be coded into this system. It also is not clear how the ECB aims to reconcile the contradiction of limits on account balance and their privacy goals. The latest ECB progress update does not alleviate these worries; it states that for online payments the Eurosystem itself will record transactions AND perform associated verification tasks.57) And it happens to be that online payments are the category of payments with “the broadest set of high-level use cases.”58) Now ask yourself: how large a share of payments in a digital currency will be done “online?” In any case, it is safe to assume there is not going to be real privacy in this system, because with this design either the central bank or the intermediary knows the identity of the users behind each transaction. US Federal Reserve Design of the Digital Dollar_ Compared to the ECB, the American Central Bank, the Federal Reserve, is not as far advanced with designing their CBDC. However, in January 2022, the Fed did release their report “Money and Payments: The U.S. Dollar in the Age of Digital Transformation.”59) In the opening paragraphs, the FED repeats the familiar take that CBDCs are a different kind of money compared to existing forms, and states that in their opinion a CBDC is a “digital liability of the Federal Reserve that is widely available to the general public.” It would be the “safest digital asset available to the general public, with no associated credit or liquidity risk.”60) The report points to the fact that the Federal Reserve Act does not allow direct Federal Reserve accounts for individuals. The FED will therefore have to adopt an intermediary model where the private sector would offer accounts or digital wallets to facilitate the management of CBDC holdings and payments. Just as with the ECB, you will NOT have an account directly with the FED. But although commercial banks and non-banks would offer these services to individuals, the CBDC itself would be a liability of the Federal Reserve.61) Further on, the FED argues that a future CBDC should be intermediated, widely transferable, and identity-verified, while at the same time being privacy protected.62) These are, again, contradicting objectives. As a use case, the FED notes that governments could use a CBDC to collect taxes or make benefit payments directly to citizens. Additionally, a CBDC could potentially be programmed to, for example, deliver payments at certain times.63) Again, programmable money. Additionally, a CBDC could potentially be used to carry out micro-payments, and streamline cross-border payments by using new technologies.64) Crucially, the FED recaps the risk unlimited use of CBDCs poses to the stability of the financial system. As such, the FED also proposes the variation of interest rates on different kinds of money and limits on the amount an end user could hold.65) Moreover, to prevent a flight to safety, it proposes limits to the amount a user could accumulate in a short period of time.66) And last, but not least, the FED discusses its monetary policy and the need to expand its balance sheet to accommodate CBDC growth. Part of this could be mitigated by shifting away from existing “non reserve liabilities.”67) …Yes, the FED is suggesting withdrawing cash to make room for CBDCs… New York Fed Testing of Wholesale CBDCs There were a number of recent headlines reporting that the New York Fed had started a 12-week test of their first CDBC.68) However, this project is mostly about exploring the concept of a “wholesale CBDC.” This is a form of CBDC that is only used to settle the liabilities of regulated financial institutions. Although interesting, it does not tell us much about the future of retail CBDCs which are the main subject of this report. Fednow Payment System Fednow is another project under development by the FED that is sometimes confused with a CBDC. This facility will enable individuals and businesses to send instant payments between accounts.69) While the idea of instant settlement reminds us of crypto currency, what is settled are not central bank liabilities. As such, Fednow is not a CBDC system. <Conclusion: The CBDC Prison Being Built_ Central banks around the world have started building CBDCs. These need to be designed, and each design has consequences. When looking at the design choices made so far, we can see where things are headed. And it doesn’t look good… As of now, no formal decisions have been made in the jurisdictions discussed. Regardless, the EU’s direction seems clear. Perhaps the US Congress still has a say in the future of money. We shall see. What we see in the works is a system where small groups of unelected people get to approve all payments. There will be no privacy. It has purposefully designed features that control how much money you can hold and what kind of charges and (negative) interest rates apply. A system of constant surveillance, and the centralization of sensitive information. And then we haven’t even talked about all the other policies increasingly being enforced through the financial system, such as a personal Co2 budget70) (or other social credit systems), the re-directing of private resources towards public policy goals (blended finance),71) and the exclusions of political undesirables.72) CBDCs replace cash with a kind of money you never legally own, you can directly be charged interest and fees on, and cannot spend without permission. …Do you want this? Sources: This posts is larger than 40.000 characters. So I removed the footnotes from this post. Full list of 72 footnotes can be found here: https://decentralizedlegalsystem.com/what-are-cbdcs/ Download this Article in PDF For a PDF version of this article to store or share, click:https://decentralizedlegalsystem.com/wp-content/uploads/2023/01/Shocking-Tru... TLDR: CBDCs are liabilities directly with the central bank. They are a new kind of money. Next to cash and digital money currently held in private banks. The Bank of International Settlements made an overview of all research into CBDCs. It shows that each design has consequences. The ECB has chose for a design where intermediaries deal with the clients, but the ECB settles all payments. There is no real privacy in the system. To ensure financial stability, the ECB wishes to maintain control over account balances, apply variable (interest) charges, and monetary policy/stimulus. The digital Euro is in a far stage of development. The Federal Reserve Act forces the FED to go through intermediaries as well. The digital USD will be programmable and identity-verified. To ensure financial stability, the FED wishes to maintain controls on interest charges and maximum account balances. The FED also argues that CBDCs might have to replace cash to maintain a healthy balance sheet. The digital USD appears to NOT be in a far stage of development.
https://twitter.com/NoCBDC https://twitter.com/cryptograffiti
Based, join the campaign.
https://twitter.com/empty_banks/status/1611098933702410241 Run the ₿anks @empty_banks One day soon, this building will become a museum and give guided tours to self sovereigns of how we used to enslave our fellow man through elaborate ponzi schemes.
Fuck these people all to hell... https://www.asiamarkets.com/wp-content/uploads/2022/11/asiamarkets.com_-1-10... Send their CBDC Nightmare out with them... https://www.asiamarkets.com/wp-content/uploads/2023/01/Screen-Shot-2023-01-2...
Smolenski Exposes CBDC Panel... https://www.youtube.com/watch?v=HljpEfw8M5o&t=3430 https://pastebin.com/JdNEK0Gm Cryptocurrency was ultimately created to take control & trust out of the hands of centralized, private entities. CBDCs are ultimately not just a threat to the privacy of individuals, but also a threat to the existence of the depository banking system in general. This is one of the best videos I've heard on the matter. First hour is IMF talking heads largely avoiding the intent of the debate all together, and then Natalie comes in turns their words upside-down, proving that there is NO CHANCE privacy will be implemented in ANY CBDC. She makes excellent points and then her rebuttal literally shocks them to their core. Here's a somewhat legible transcript for the more visual learners among us... Did you notice that at 1:26:03, the douchebag from the IMF refers to Bitcoin without saying it's name? It's clear that he doesn't want to give Bitcoin any legitimacy, and that speaks freaking volumes. Fuck the IMF the WEF the FED. All of em. Break those fuckers on the wheel! IMF and World Bank, evil organization that manipulates the world and destroys other countries. They are like a Mafia. CBDC's from whatever I have read seem quite dystopian. CBDC's can get fucked CDBCs lead to literal slavery. Bitcoin is the path to remain a free person. You'll make a fine slave for them. Remember me when they're having you board a boxcar... Bankers, not elected officials will run the CDBC money. They will soon dictate: * How much you are allowed to be paid * From whom you are allowed to be paid * Where you are allowed to spend * Which kinds of things you are allowed to buy * Whether you're allowed to participate in the economy at all (suppose you said something on-line and they didn't like it, like this post I'm typing, for example) CDBC money will have expiration dates. For example, spend it within 9 weeks or lose it. You'll never be able to save up for anything; they won't let you. Eventually, it will get to the point where if they catch you trying to resist, they'll banish from the economy with the click of a button. I'm talking about real tyranny by actual sociopaths with ultimate power. Do you know what "sociopath" means? You and everybody you know will become the "property" of the most uncaring, cruel, and selfish people. They will violate all of your rights, at will, even your right to life if it suits them. Do you want to be stuck in such a situation? Without owning Bitcoin, people will be trapped. Of course, the CDBC will be programmed to prevent people from exchanging it for Bitcoin, weapons, or transportation to escape the CDBC tyranny. Because they would lead to not only the knowledge of where you spend every fucking cent but they could also prevent you from spending your money where you want. For example. You only get to buy $50 worth of gasoline per month. You only get to buy $100 worth of meat per month. Extreme examples, but not out of the question. but they could also prevent you from spending your money where you want. the keyword is could, not are. There is no evidence that suggests they are planning this that I have seen. Is it possible? maybe but I can't see anywhere that says they are going to limit spending in fact, the EU bank is considering more private spending for cash like purchases (low value purchases) which is the exact opposite of what you are saying https://www.pymnts.com/cbdc/2022/lagarde-low-value-low-risk-digital-euro-pay... As such, Lagarde said the digital euro would “at least provide a level of privacy equal to that of current electronic payment solutions” for it to be attractive, while laying the responsibility on legislators to find “the right balance between the social value of privacy and the public interest in preventing illicit activities.” While ruling out that the CBDC would mimic the full anonymity offered by cash, she said the ECB and the EC are exploring the possibility of replicating “some cash-like features and enabling greater privacy for low-value, low-risk payments, including for offline payments While ruling out that the CBDC would mimic the full anonymity offered by cash, she said the ECB and the EC are exploring the possibility of replicating “some cash-like features and enabling greater privacy for low-value, low-risk payments This seems pretty clear to me that they're admitting the levels of privacy with CBDCs will be NOTHING like cash. https://www.telegraph.co.uk/business/2023/02/06/hoarding-britcoin-banned-ban... If the U.S. Congress cannot pass the Federal Reserve Transparency Act, then it's very possible that the Fed can push FedCoin down our throats. Whether or not we accept FedCoin is up to Americans.... The problem is, if they think that Federal Reserve Notes have value because the government approves of them (even tho these Notes are debt instruments, liabilities, NOT a bearer asset, like BTC)... then Americans are very likely to accept FedCoin due to a mixture of apathy and ignorance (ooh, this is new & shiny, and they give me stimmy funds if I use them to buy BeyondMeat products before the end of the month!!!).
Maybe the Swiss have enough balls to throw off their oppressors, if not they wouldn't be any different than the US Euro Asian and other major anti-Cash anti-Crypto anti-Gold anti-Freedom pro-CBDC worshipping States' apologist cowards... Meanwhile in the US…. Agenda: How can we fuck over our citizens more? Swiss to vote on preventing cashless society, pressure group says https://www.reuters.com/markets/europe/swiss-vote-preventing-cashless-societ... " Feb 6 (Reuters) - Swiss citizens will get the chance to try to ensure their economy never becomes cashless, a pressure group said, after collecting enough signatures by Monday to trigger a popular vote on the issue. The FBS (Free Switzerland Movement) says cash is playing a shrinking role in many economies, as electronic payments become the default for transactions in increasingly digitised societies, making it easier for the state to monitor its citizens' actions. It wants a clause added to Switzerland's currency law, which governs how the central bank and government manage the money supply, stipulating that a "sufficient quantity" of banknotes or coins must always remain in circulation. There is no evidence of moves towards a cashless society by Swiss authorities. FBS said it had garnered over 111,000 signatures in support of the measure, above the 100,000 needed to trigger a popular vote. Under Switzerland's system of direct democracy, the proposal would become law if approved by voters, though government and parliament would decide how that law was implemented. "It is clear that ... getting rid of cash not only touches on issues of transparency, simplicity or security ... but also carries a huge danger of totalitarian surveillance," FBS president Richard Koller said on the group's website. He also views Switzerland as a European standard-bearer for the defence of cash, as pushing through such guarantees in the European Union would entail the "almost impossible" process of securing approval from all 27 member states. Accelerated by the impact of COVID-19 lockdowns, the trend towards increased cashless payments was evident as far back as 2017, when an Ipsos study found more than a third of Europeans and Americans would happily go without cash and 20% pretty much did so already. " [–]ne0_jamm3r 42 points 2 days ago In America, freedom is just a statue. permalink embed save parent report give award reply [–]Asleep_Plant6117 3 points 1 day ago A Statue in chains… permalink embed save parent report give award reply [–]Asleep_Plant6117 6 points 2 days ago Indeed.. permalink embed save parent report give award reply [–]noshortsnoproblem 2 points 2 days ago Indeed? Or in need? Of monetary statutes? Makes one wonder…. 💭 🧐 permalink embed save parent report give award reply [–]buzzjn 4 points 1 day ago Not only in the US this is happening in Europe too. permalink embed save parent report give award reply [+]JaJe92 -9 points 2 days ago How come a cashless society caries a danger of totalitarian surveillance? Care to explain? To me it is that cash is easy to money launder while cashless can prevent it where all transactions are monitored. permalink embed save parent report give award reply [–]seraph321 15 points 2 days ago Maybe the biggest reason - who defines laundering or illegal transactions? You have complete faith that your interests and morals will always align with whoever is in power and is able to monitor or prevent any transactions you make? You’re ok with having no ability to hold monetary value in a way that isn’t 100% at the pleasure of not only your current governors, but all who come later? permalink embed save parent report give award reply [–]-SPRENGMEISTER- 4 points 1 day ago Because with cashless payments your bank, Mastercard/Visa/Amex/PayPal, potentially your government, potentially also other governments and potentialy other companies that provide technical infrastructure or to whom the data is sold can see every transaction you make. Facebook will know you better than your best friend by analyzing a few likes you gave. What do you think does someone know about you who has complete access to your complete economic activity? Every grocery shopping, what clothes you buy, where you travel, what you like to eat, what you do in your freetime, what medical problems you have, including mental ones. Still not scared? Well, you better don't be ethical enough to pay for the porn you watch because they will know what your sexual orientation and preferences are. Remember: there are governments that literally kill people for having the ”wrong“ sexual orientation. Oh and if you are political and donate to some organisation, it will be known to them. See any problem with that? Does cash help money laundering? Maybe. But the evidence isn't that clear about it and much money laundering, especially with large amounts is still done with electronic payments because cash becomes inconvenient at large scales. But even if we could eliminate all money laundering in the world by abolishing financial privacy? permalink embed save parent report give award reply [–]JaJe92 0 points 1 day ago Kind of ironic that people get really vocal against cashless society for those reasons but never care of actually privacy online and these big tech harvesting as much data as possible of every individuals that know more about you even without your monetary transactions. permalink embed save parent report give award reply [–]-SPRENGMEISTER- 1 point 1 day ago That's both whataboutism and a big fucking strawman. There are plenty of people that get very vocal about that, too. There isn't a dataset that's more sensitive than literally ALL OF YOUR ECONOMIC ACTIVITY Nobody forces you to be on Facebook. But if there's no cash anymore (and no equally private digital payment solution), you have no choice but to use digital payment solutions that allow for total surveillance of everything you do. permalink embed save parent report give award reply [–]CYjgb 3 points 1 day ago Because the Commies in government can shut off your digital currency!?! permalink embed save parent report give award reply [–]JaJe92 3 points 1 day ago As well can make your cash worthless by creating new currency. Same principe. permalink embed save parent report give award reply [–]Nickovskii 2 points 1 day ago You lose control in a centralized environment. It will come as they believe it might fix problems. I dont think someone does this with the goal to gain power. I believe in the good intentions. However, i dont like to lose control over my wealth in a blink of an eye by someone or something I dont know. permalink embed save parent report give award reply [–]Bitcoin_Maximalistredditor for 3 months[S] 2 points 1 day ago did you forget the /s ? permalink embed save parent report give award reply [–]OkeyDokeyWokey 1 point 15 hours ago I’m afraid he didn’t and really believes it. permalink embed save parent report give award reply [–]Sylerb 1 point 2 days ago I think surveillance here means the ability of banks, payment processors etc to see your balance , your purchases etc. This data is very valuable and can be used to manipulate votes in an election for example, and is very centralized since if you lose your card or get sanctioned, no one will be able to sell you anything, even food.. permalink embed save parent report give award reply [–]JaJe92 1 point 2 days ago Aren't the big payment forced by law to do via banks? Here where I live it is. I don't think anyone would care that you spent money buying some food or some cheap stuff. permalink embed save parent report give award reply [–]Sylerb 1 point 2 days ago Yeah I don't actually get myslef.. permalink embed save parent report give award reply [–]Whazers1 29 points 2 days ago I will vote yes permalink embed save report give award reply [–]Bitcoin_Maximalistredditor for 3 months[S] 18 points 2 days ago Dafür eine gratis Toblerone von mir :) permalink embed save parent report give award reply [–]-SPRENGMEISTER- 8 points 1 day ago Ich hoffe, ihr habt Erfolg. Und ich hoffe, dass dadurch Menschen bei uns in der EU mal besser über das Thema nachdenken und die Gefahren begreifen, die die Zurückdrengung des Bargelds mit sich bringt. permalink embed save parent report give award reply [–]dabackpackgal 5 points 1 day ago The same permalink embed save parent report give award reply [–]SuspiciousSquid94 18 points 2 days ago Cash is the original peer to peer private medium of exchange permalink embed save report give award reply [–]DekiEE 7 points 1 day ago Food is still the first thing that was traded and will probably be the last too. permalink embed save parent report give award reply [–]blissbaby1111 1 point 1 day ago Which came first, the food or the blow bang? permalink embed save parent report give award reply [–]gvictor808 5 points 2 days ago Sexual favors predate cash permalink embed save parent report give award reply [–]SuspiciousSquid94 3 points 1 day ago Lets go back to that permalink embed save parent report give award reply [–]blissbaby1111 2 points 1 day ago Some of us have made the switch. You too could save 15% or more permalink embed save parent report give award reply [–]tycooperaow 2 points 1 day ago “Hey noble, I’ll doo something strange for a bag a barley and wheat for my village” permalink embed save parent report give award reply [–]ANDREWNOGHRI 1 point 1 day ago That gets awkward when you buy your grandad's truck. permalink embed save parent report give award reply [–]OkeyDokeyWokey 1 point 15 hours ago Depends if your grandma is still alive and how hot she looks. permalink embed save parent report give award reply [–]eoneqeip 53 points 2 days ago Love to see Swiss democratic approach to important topics...other nations have a lot to learn from them. permalink embed save report give award reply [–]i_am_bloating 24 points 2 days ago I strongly believe that Swiss democracy is the true democracy and that’s partly why they don’t join the EU which doesn’t go by the same democracy system. Power is handed from the bottom up, not from the top down as in other democracies. permalink embed save parent report give award reply [+]foulminion -24 points 2 days ago Yeah, I dunno. Sometimes the results are... worrisome. Like that time they received a public condemnation by no one other than the UN Human Rights Council for banning any (future) constructions of mosques. So yeah, we can learn things from their approach, but tolerance probably isn't one of them. permalink embed save parent report give award reply [–]OkeyDokeyWokey 8 points 2 days ago How is that worrisome? If a majority of the country doesn’t like it, there is enough other space for them to build their mosques. permalink embed save parent report give award reply [–]foulminion 0 points 1 day ago I think you’re missing what that implies for Bitcoin: If it was possible to get a majority to vote for preventing the spread of a major religion, how plausible is it to spread an agenda among the populace to ban technology and services extending Bitcoin’s reach into everyday life? permalink embed save parent report give award reply [–]OkeyDokeyWokey 2 points 1 day ago The funny thing is that Bitcoin does not conform to whatever lawmaker in the world comes up with. They tried in China, they failed. permalink embed save parent report give award reply [–]foulminion 1 point 1 day ago I'd rather not rely on people getting comfortable with breaking the law in order to help BTC reach mainstream. And thankfully, that isn't really an issue in Switzerland currently. I'm just hoping it stays that way. permalink embed save parent report give award reply [–]OkeyDokeyWokey 1 point 1 day ago If they will change the law to make your life impossible, you can start to wonder whether it becomes duty to break this law. permalink embed save parent report give award reply [–]Kasegigashira 16 points 2 days ago Direct democracy is what it is.. Sadly Sometimes the majority is xenophobic, but the Swiss system is nothing short of amazing. permalink embed save parent report give award reply [–]foulminion 1 point 1 day ago Propaganda is a strong tool. I’m not sure the established financial elite with the friendly help of “concerned” politicians couldn’t succeed in “educating” the majority that Bitcoin is “dangerous, volatile, and mostly used by criminals” in an attempt to ban access to as well as the use of it in Switzerland. permalink embed save parent report give award reply [–]Narf234 2 points 2 days ago Was there a rational for the ban? permalink embed save parent report give award reply [–]Kasegigashira 8 points 2 days ago The ban was on minarets. At that time, like 10 years ago, the proponents of the people's initiative argued that a ban on constructing them in Switzerland would prevent the further spread of Islam in the country. They said that minarets had “no religious function” and that the Koran contained no reference to minarets. permalink embed save parent report give award reply [–]Narf234 2 points 2 days ago Oh, is a ban on minarets as xenophobic as people think it is? permalink embed save parent report give award reply [–]Kasegigashira -3 points 2 days ago Well, a lot of Swiss were ashamed of it. It was controversial. permalink embed save parent report give award reply [–]eoneqeip 11 points 2 days ago that's democracy...if you believe in it you have to believe in it even when you are in the minority. permalink embed save parent report give award reply [–]obiwankenobi48redditor for 3 months 1 point 2 days ago While the right wing parties wasted years on these mental masturbations about minarets and "islamic invasion" (and don't forget the constant "eU Is BaD")...organized crime from all over Europe (especially Italy and the Balkans) has established itself here very comfortably, laundering money and smuggling drugs. Switzerland is one of the best countries in Western Europe for organized crime, because controls against money laundering are some of the less strict....fReEdUmmmmmm. permalink embed save parent report give award reply [–]QuickAltTab 0 points 2 days ago did they also ban future construction of churches? That would be fair and also a good move. permalink embed save parent report give award reply [–]foulminion 1 point 1 day ago Nah, churches are safu permalink embed save parent report give award reply [–]DekiEE 0 points 1 day ago I agree that sometimes the results of direct democracy can be xenophobic or perceived racist, especially in a country that has had such a big immigration from Albania, Kosovo, Bosnia and Turkey. BUT in my personal opinion, as a kid of immigrants, I appreciate the crackdown on any religious facilities. They should cut all subsidies and disown the land every religious group has and give it to the people e.g. build housing. Religion and democracy cannot go hand in hand as religion always includes absolutism. Also you need a great educational system and opportunity to access free and unbiased information for direct democracy, because people are stupid and will do stupid things if you tell them so. permalink embed save parent report give award reply [–]Bitcoin_Maximalistredditor for 3 months[S] 12 points 2 days ago Thanks for upvoting, didn´t expect that. permalink embed save report give award reply [–]Ima_Wreckyou 8 points 2 days ago IMHO it will not just be a law if accepted. Decisions by public vote become amendments to the constitution and they can't be changed or reverted by the government. I hope that international organizations voice their concerns in an attempt to sway the decision, that usually leads to a knee-jerk reaction. lol. "them damn foreigners don't tell us what to do!" permalink embed save report give award reply [–]1Tim1_15 21 points 2 days ago Thank God. This needs to happen everywhere. Sadly, most people have no idea how critical cash and private currency is to a free society. Glad to see some people waking up. permalink embed save report give award reply [–]SamwiseGamgee87 1 point 1 day ago Private currency or public? We have BTC for this reason I will take the cashless If is in a circular BTC economy. permalink embed save parent report give award reply [–]nickname432 3 points 2 days ago "please pay cashless" it says here everywhere permalink embed save report give award reply [–]DangerX2HighVoltage 3 points 2 days ago Another thing the Swiss are doing right permalink embed save report give award reply [–]moonRekt 2 points 1 day ago Idk if I’d have a different viewpoint if I wasnt in the tip crazy USA, but a huge reason I always have cash is for tipping. No way im leaving a paper trail and making it easier for a company to steal one’s wages in the form of tips via credit cards. permalink embed save report give award reply [–]xrv01 2 points 1 day ago i like cash. v useful permalink embed save report give award reply [–]OkeyDokeyWokey 1 point 15 hours ago And you can swim in it. permalink embed save parent report give award reply [–]allovernow11 3 points 2 days ago Cash is KING permalink embed save report give award reply [–]SCaRMdOz 2 points 2 days ago* Interesting comments in r/bitcoin. Do I value my freedom? Do I value your freedom? Do you value my freedom? Freedom: The ability to go about ones business in any manner that one sees fit, providing it hurts nobody? Does removing cash hurt anybody? Does removing cash create a barrier to entry? Are there people in society that don't have debit/credit/bank/loyalty cards? If your chosen digital payment network crashes and you are starving and thirsty, does that create a barrier to entry for you? As a shop owner should I take pity on you and give you goods/services without payment? You have the freedom to beg if you choose. I have the freedom to turn you away if I choose. Cash is good when people do good things with it? Cash is bad when people do bad things with it? Is it that cash is good/bad or is it that people are good/bad? Do you value your freedom? Do you value my freedom? edit:typos. permalink embed save report give award reply [–]proph3tsix 1 point 2 days ago Interesting comments from u/SCaRMdOz. permalink embed save parent report give award reply [–]BasisOk4268 2 points 2 days ago CBDCs are a huge threat to freedom and rights globally. Cashless societies are ripe for manipulative forces. Fancy a protest? 100% of your funds have been frozen. permalink embed save report give award reply [–]JeanLouisMichelredditor for 7 weeks 2 points 1 day ago* But do you really have more than let's say 20%-30% of your savings in cash? Okay, I'm not one to love or trust the government but maybe when I'm ever worth 100M I'd stash a million under my big ass rich people bed. But as a rugelar person I don't see the deal or how one could manipulate me. I have more faith in DeFi for instance than in cash tbh. And if my government would try to ban crypto's I'd be burning down parliament. But stopping cash is just regular evolution imho. It's also gross to touch and the coins are smelly. (But that's not a good argumemt I know) I also already bought a nice silver cokestraw, so no need for bills. And even if you wanne do drugs, buy them online with crypto instead of going to a scary dealer in a neighbourhood where you can get stabbed or robbed. Somehow I think when the first paper money came into existence people were afraid of not being able to have gold. Also I don't really feel like the goverment (at least in my country) is trying opress me or anything, they're wildly incapable, very much yes, and have stupid ideas now and then. Hell, I'd even think they're too incapable of oppressing me. 😂 I'm from Belgium and actually, the biggest problem is that Belgians are too lazy to protest, so the government even doesn't have to oppress us, when we don't like a new regulation we go to a pub, drink some beer and whine a whole night to eachother about how unfair stuff is and few weeks later we just comply. I respect your opinion, just gotta say I don't completely understand your vision, maybe I'm ignorant so please, do explain cause I love learning new ideas and opinions from others! permalink embed save parent report give award reply [–]BasisOk4268 2 points 1 day ago It’s not about whether it’s plausible for existing governments to become totalitarian. It’s about the possibility that future regimes can withhold access to citizens funds whenever they see fit. To an extent they already do it by freezing bank accounts of suspected criminals. Doesn’t sound like a bad thing really. But once every single transaction is on a centralised government controlled blockchain, they can do whatever they see fit. They can rewrite the rules of the country and you can’t change anything because you risk being thrown into poverty at the click of a button. There’s also what China have been trialling, where citizens funds expire every 2 weeks. They do this to perpetually inflate the economy, but also means you cannot have any chance of saving money to build a better life unless you’re born wealthy. permalink embed save parent report give award reply [–]JeanLouisMichelredditor for 7 weeks 1 point 1 day ago The fact that you think about future regimes is actually a very good point, gotta be honest I didn't think about that, so thanks for argumenting here. (I say tnx since a lot of people on the internet rather get mad, or call me a fool, than having an interesting convo) But then again, there's just so few cash in circulation, and it's still something that our governments can print but also can take out of circulation to a certain degree, so I'm wondering, wouldn't a totalatarian government be able to ban cash overnight? Especially since most people don't have an awfull lot of cash. Aren't we better of trying to guide others into crypto? So that it becomes more mainstream. Personally I'm a crypto believer, gotta be honest tho, I jumped very late on the wagon, and I still gotta learn a ton about it. But me personally I have more believe in stashing my extra money in crypto. (which isn't that much, I don't consider myself poor, but usually I don't have more than a 100 to spare each month) The reasons why I put this money in crypto is not for the potential earnings but just because a) I feel safer have my money on a blockchain instead of cash and b) at least for now the government hasn't really a way of mixing themselves or manipulating the blockchain and c) I sorta hate banks, I know they don't care about my measely 100 euro's but it's just out of principal that I don't wanna put my money on a savings account So I'm pretty sure we have a lot of common ground in our opinions, I just don't see cash as such an important asset and I find it rather inconvenient. What are your thoughts? permalink embed save parent report give award reply [–]OkeyDokeyWokey 1 point 15 hours ago I’m from Belgium and actually, the biggest problem is that Belgians are too lazy to protest, so the government even doesn’t have to oppress us, when we don’t like a new regulation we go to a pub, drink some beer and whine a whole night to eachother about how unfair stuff is and few weeks later we just comply. Replace beer with coffee and pub with coffeemachine and you got the Dutch situation. permalink embed save parent report give award reply [–]OkeyDokeyWokey 1 point 15 hours ago People aren’t willing to protest anymore nowadays anyway. Even without the force of CBDCs. permalink embed save parent report give award reply [–]Maleficent-Camel2849 1 point 2 days ago I actually wonder who is paying cash anymore? We use our cards, apple/samsung whatever pay, or we send cash directly to our friends via Twint (swiss version of venmo) permalink embed save report give award reply [–]OkeyDokeyWokey 1 point 15 hours ago Germany is still largely a cash based society. permalink embed save parent report give award reply [–]The_Materialist -4 points 2 days ago Yeah they smell the right problem but have the solution wrong. Its time to insert plan B in the political discussions I'm having in the next few months agian! permalink embed save report give award reply [–]-SPRENGMEISTER- 23 points 2 days ago Why are so many of us shitting on cash? Cash shouldn't be our enemy, it's the next best thing to Bitcoin and way better than giving even more power to banks, big tech and governments by abolishing it. permalink embed save parent report give award reply [–]ShowtimerHD -4 points 2 days ago Cash is nothing but credit. It’s fake. Not real. No backing. The only true physical currency that will never die is Gold/Silver. That’s why ppl hate cash at least I do because it’s a scam. No one should have left the gold standard to begin with permalink embed save parent report give award reply [–]Senorinvincible 5 points 2 days ago Cash is very important for privacy permalink embed save parent report give award reply [–]ShowtimerHD -1 points 2 days ago To some yes but I haven’t used cash in years. I’d rather buy bullions of gold/silver if I’m doing private transactions permalink embed save parent report give award reply [–]Nuclear_Reserve259 3 points 2 days ago Because it’s completely practical to go to a corner store and buy bread and milk using gold permalink embed save parent report give award reply [–]ShowtimerHD 1 point 2 days ago So you believe the dollar will last forever and gold/silver will never be used as a currency again? permalink embed save parent report give award reply [–]-SPRENGMEISTER- 1 point 1 day ago That's not the point. We're talking about how things are now. And now, cash is the only form of money that is both somewhat widely accepted and also not harming your privacy. You can argue about monetary policy all you want (please continue to do so) but that doesn't get you anywhere in everyday real life situations. permalink embed save parent report give award reply [–]ShowtimerHD 1 point 1 day ago That’s my point I’m making. I’m talking when the dollar crashes and goes. permalink embed save parent report give award reply [–]WeekendQuant 5 points 2 days ago You can back cash with Bitcoin. permalink embed save parent report give award reply [–]ShowtimerHD 1 point 2 days ago Yes but I stay away from the USD if possible. I’m slowly turning my savings into New Zealand currency as that’s where I’m moving next year permalink embed save parent report give award reply [–]WeekendQuant 2 points 2 days ago I just don't hold much in cash. Everything is stock, Bitcoin or physical assets. permalink embed save parent report give award reply [–]Stallj 1 point 2 days ago You forgot real estate brother permalink embed save parent report give award reply [–]WeekendQuant 1 point 2 days ago Real estate is a physical asset. Real estate doesn't look so hot on a 30 year timeline if we're looking at global population decline though either. Real estate only goes up in value in real terms when there's population growth. There will be pockets of real estate rising in real terms, but that's speculative. Aggregate real estate values should fall in real terms over the long term as long as global population is in decline. permalink embed save parent report give award reply [–]Stallj 1 point 2 days ago Depends on where you purchase it. Also, 80% of the asset is paid for by the renters/tenants. By your logic, stocks will suffer as well due to aggregate demand. permalink embed save parent report give award reply [–]WeekendQuant 1 point 2 days ago The first sentence is what I meant when I said it's speculative. Actually in my rentals I was collecting 96% of the costs paid by renters. Stocks in aggregate will suffer, but once again speculation can outperform. If you choose new disruptive businesses without the overhead of the legacy businesses, they will be less sensitive to population decline because they won't have excess production capacity or old debt on their books. permalink embed save parent report give award reply continue this thread [–]gvictor808 2 points 2 days ago Would you rather transact in silver/gold? Cash is better…just convert it to something hard before too long. permalink embed save parent report give award reply [–]ShowtimerHD 1 point 2 days ago Honestly yeah for physical only. I’ll never use cash and I despise it. It causes way too many illegal transactions and the cons outweigh the pros for me. Gold/Silver is the only true safe haven in the physical money world and you can’t deny that. The dollar will not be around forever. No currency has been around forever except those two permalink embed save parent report give award reply [–]gvictor808 1 point 2 days ago Have you ever actually tried doing this or is this completely in your head? How do you measure purity and mass? It’s completely impractical to try to accept silver/gold as payment. Does Amazon even sell silver/gold purity meters? I guess the scale part is easy, at least. permalink embed save parent report give award reply [–]ShowtimerHD 1 point 2 days ago I buy them from pawn shops. I’ve sold silver to them for goods and some friends but not on major purchases no. I have a flip phone and no longer have any socials regarding this forum on my pc and no streaming services. I’m slowly getting ready to live off grid with crypto. It’s all in a ledger sitting there til I sell then I’m off to New Zealand permalink embed save parent report give award reply [–]Rasclemonkey 0 points 2 days ago Y’all are fucking idiots for down voting this person. They are absolutely correct permalink embed save parent report give award reply [–]ShowtimerHD 1 point 2 days ago They don’t want to listen is all but no skin off my bones cause I have the karma to no longer give a fuck Lmao I appreciate you though fellow friend 🖤 permalink embed save parent report give award reply [–]Rasclemonkey 2 points 2 days ago Absolutely my friend permalink embed save parent report give award reply [–]-SPRENGMEISTER- 1 point 1 day ago It may be economically unsustainable and unstable, it may be worthless in the future but it's not fake, it's very real. I can take 50 Euros, go to the supermarket and buy food with it. It's money, it works. permalink embed save parent report give award reply [–]ShowtimerHD 1 point 1 day ago Yes that’s true but on a backing level no sir/ma’am. Everything relies on the dollar today. When that goes goodnight and I’ll be ready to pounce with gold/silver for physical sales permalink embed save parent report give award reply [–]Ima_Wreckyou 3 points 2 days ago I don't think Bitcoin is ready for mass adoption yet. There is still a lot to do on the technology side of things as well as the asset has to further capitalize and stabilize for it to be acceptable for most people as currency. In the meantime we better try to prevent a CBDC only total surveillance state by making sure cash is always an option. permalink embed save parent report give award reply [+]liquefire81 -9 points 2 days ago "Its for the citizens!" - says the PR "It's for russian ogliarchs + saudis money laundering" - says common sense permalink embed save report give award reply [–]Mediocre_Piccolo8542 1 point 1 day ago That's how things are supposed to work. As much BTC can enrich society, it can not solve problems like entirely corrupt governments doing policies undermining the freedom of an individual. That's also why the entire CBDC debate in this space is so laughable. CBCC's aren't good or bad, but their implementation will highly dependent from the government doing it. That's why a CBDC by a Swiss government will certainly be more citizen friendly than one done by the US government. Meanwhile, the space is poisoned by some awkward views coming from American right-wing podcasters and influencers acting like problems with their government are the case everywhere else, spreading some shitty ideology and capturing BTC to do so. permalink embed save report give award reply [–]JeanLouisMichelredditor for 7 weeks 1 point 1 day ago I sorta understand most peoples arguments against cashless society and all but, in practice would it make so much difference? How many people have the majority of their money in cash? (And I mean people who actualy have money, not poor peasants like me) How many people used cash in a single transaction of over 500$ in the past few years? Pretty sure few regular people with money from normal jobs have their money in cash. Unless it is earned without paying taxes or in the illegal circuit, few people ever do big transactions in cash. Most ATM's in Europe don't even let you cash out more than 700 euro's, and if you do it's already registered anyways. Also, the best criminals and fraudsters stopped using cash long ago. You'd be amazed what a good bookkeaper can do and how many companies transact millions through banks, that appear perfectly regular in the books but are actually just a payment for illegal transactions. I'm not gonna say I have complete faith in governments and all but imho this a more a "pick your battles right" kinda thing. This is just my opinion and I'm very much open to new ideas so, feel free to change my mind. I'm always open to learn new ideas from others, and I genuinely want to understand the arguments against cashless in case I'm totally wrong with my opinion. What exactly should I be scared for if society becomes cashless? Edit: BTW I'm very into crypto and stuff, cause yes governments mess up the monetary system, but this will not change with our without cash. permalink embed save report give award reply [–]CYjgb 1 point 1 day ago Perfect way to fight the Commies!! permalink embed save report give award reply [–]mbrochh 1 point 1 day ago Very surprised by this, given that WEF meets in Davos, Switzerland. permalink embed save report give award reply [–]OkeyDokeyWokey 1 point 15 hours ago Perhaps they know their policies are shit, so they want to be in a safe country. permalink embed save parent report give award reply [–]GSAT2daMoon 1 point 1 day ago lol. Cashless worldwide in 1 year. permalink embed save report give award reply [–]Egw250 1 point 1 day ago must be nice to trigger a vote in a democratic country. permalink embed save report give award reply [–]JjoJjo0JjoJjo 1 point 1 day ago If it does become not cashless will that not fuck over bitcoin? permalink embed save report give award reply [–]Classicpass 1 point 1 day ago The irony permalink embed save report give award reply [–]sakhastan 1 point 1 day ago e-cash permalink embed save report give award reply [–]sakhastan 1 point 1 day ago we should seize all the swiss criminal money permalink embed save report give award reply [+]69hailsatan -5 points 2 days ago Other than emergsncies why the hell do people use cash. It's less convenient, easier to lose, less manageable, and most times you can get some sort of rewards with a card permalink embed save report give award reply [–]l7eadly 5 points 2 days ago I do agree with you but cash leaves no paper trail and you control your funds, not your bank. permalink embed save parent report give award reply [–]Nuclear_Reserve259 2 points 2 days ago It’s more convenient. With card it’s a lot easier to overspend permalink embed save parent report give award reply [–]69hailsatan 1 point 2 days ago How so though, I hear this argument a lot. Say you have $500, with cash you go buy something you give them $100 bill and now you see you have $400 left. With a card, you buy something that's $100 you use your card, you can check your app, you see you have $400 permalink embed save parent report give award reply [+][deleted] 2 days ago [deleted] [–]Senorinvincible 4 points 2 days ago Cashless society still means there is cash just virtual which means total control permalink embed save report give award reply
https://www.telegraph.co.uk/business/2023/02/06/hoarding-britcoin-banned-ban... https://12ft.io/proxy?q=https%3A%2F%2Fwww.telegraph.co.uk%2Fbusiness%2F2023%... https://www.telegraph.co.uk/business/2023/02/04/digital-pound-possible-2030-... https://www.telegraph.co.uk/business/2022/08/28/cash-has-just-five-years-lef... Hoarding ‘Britcoin’ to be banned over bank run fears under Sunak’s digital currency proposals Frictionless digital transfers may increase the risk of commercial banking collapses, officials say By Szu Ping Chan 6 February 2023 • 10:30pm Consumers will be blocked from hoarding new “digital pounds” issued by the Bank of England because officials fear a run on high street banks, according to a consultation paper that suggests a new form of money could be introduced by 2030. Governor Andrew Bailey and Chancellor Jeremy Hunt revealed a roadmap on Monday night for creating a new central bank digital currency (CBDC) – dubbed “Britcoin” in the press – that could enter circulation by the end of this decade. It comes after the The Telegraph revealed the pair would throw their weight behind its creation, saying a digital currency will “likely” be needed in future as cash use continues to decline. It is understood that Britons will initially be limited to transferring a few thousand “digital pounds” into their accounts under plans being drawn up. The limit will be imposed in order to prevent “large and rapid outflows” from traditional high street banks. Officials fear that the frictionless nature of digital money would allow people to shift their wealth almost instantly between accounts, giving rise to the risk that banks could quickly collapse if they find themselves under stress and customers begin to withdraw their funds. Mr Hunt insisted on Monday that “protect[ing] financial stability” was a top priority, adding that “cash is here to stay”. “A limit on individuals’ holdings would apply at least in the introductory phase,” the Treasury said. “This would strike a balance between both encouraging use and managing risks, such as the potential for large and rapid outflows from banking deposits into digital pounds. These limits could be amended in the future.” Mr Hunt and Mr Bailey emphasised that CBDCs offer a “new way to pay” for consumers. Bank and Treasury officials believe it will promote competition and lead to cheaper financial services. The Bank will provide a platform for private sector companies to provide financial services. However, officials are not exploring a route that would allow people to open an account at the Bank of England. Officials stressed that any state-backed digital currency would sit alongside cash and be worth the same as its banknote equivalent. However, the plans are likely to fuel fears that banknotes could one day disappear altogether. A digital pound would be issued by the Bank and would not bear interest. Unlike other digital currencies such as Bitcoin, it would also be risk-free. The consultation, which will invite comments from businesses and the wider public over the next four months, stresses that no decision on whether to go ahead with a digital currency will be made until 2025 “at the earliest”. The Bank's annual report reveals that millions of pounds has already been spent researching the economic benefits of a CBDC. Launching a digital currency will involve “significant public investment” that suggests the project could potentially cost the taxpayer billions of pounds. Former Bank of England governor Lord King warned last week that the introduction of a CBDC offered “risks but no obvious benefits”. He cautioned against creating something the public didn't need just because it had the “sexy name of a digital currency”. Mr Hunt said on Monday: “We want to investigate what is possible first, whilst always making sure we protect financial stability.” Mr Bailey added: “This consultation and the further work the Bank will now do will be the foundation for what would be a profound decision for the country on the way we use money.” [–]Snoo_92843 32 points 1 day ago Thankfully I've got BTC permalink embed save report give award reply [–]TheUnstoppableBTC 4 points 20 hours ago This news surprised no bitcoiners. We’ve seen this kind of cbdc abuse coming from miles away. permalink embed save parent report give award reply [–]BasisOk4268 24 points 1 day ago I can believe they’d try it. I also believe if they did we’d have Guy Fawkes 2: Bonfire Boogaloo 🧨 permalink embed save report give award reply [–]mottlymonical 8 points 1 day ago This is coming soon enough permalink embed save parent report give award reply [–]magenta_ribbon 1 point 1 day ago They want that- gives them an excuse for martial law. permalink embed save parent report give award reply [–]OkeyDokeyWokey 1 point 21 hours ago Remember remember the 5th of september. permalink embed save parent report give award reply [–]BTCPriestredditor for 7 weeks 90 points 1 day ago They won't. They'll just give recieved funds an expiry date and that's it. That's what all govs will do with their shitty CBDCs. permalink embed save report give award reply [–]Cyberus7691 52 points 1 day ago So your telling me these CBDC’s will have the same business model as those scammy scam gift cards that steal your money if someone doesn’t utilize the funds in time?! permalink embed save parent report give award reply [–]Bitcoin_Maximalistredditor for 3 months 38 points 1 day ago no, worse. permalink embed save parent report give award reply [–]scabbymonkey 5 points 1 day ago It will also be in line with the US welfare food program. You will have stores and eventually specific food items you can purchase. Sounds good for those in need, but wait till the corporations get i to this and claim Kraft Macaroni and Cheese is a vegetable and thats all you can buy with your shitty cbdc. permalink embed save parent report give award reply [–]jesschester 1 point 17 hours ago It’s like getting Airline points instead of a refund when your flights gets canceled right as you’re pulling up to the airport. permalink embed save parent report give award reply [–]HurricaneHarvey7 27 points 1 day ago How does everyone else not realize this yet, and start accumulating BTC? Sometimes I think I'm just waiting for the entire world to catch up permalink embed save parent report give award reply [–]BTCPriestredditor for 7 weeks 14 points 1 day ago* Sheeple. Sleeping. And once they wake up they find themselves in whole another world. There's only one solution to all the coming shit. Switch to BTC. permalink embed save parent report give award reply [–]Educational_Pea4558 4 points 1 day ago You think there will be an off ramp for bitcoin? In a world of cbdcs and digital currency you think they will let you buy necessities with bitcoin? permalink embed save parent report give award reply [–]BTCPriestredditor for 7 weeks 11 points 1 day ago In bitcoin there is no 'they will let you'. There rather is 'They can't hinder you'. Bitcoin is completely censorship-resistant and once you and your counterparty agree the deal will be done and set in stone without anyone being able to interfere. permalink embed save parent report give award reply [–]amretardmonke 8 points 1 day ago "They" don't have to "let" us do anything. They aren't as all-powerful as you think they are. permalink embed save parent report give award reply [–]Whatnam8 2 points 1 day ago I think you’d be a fool to underestimate just how much money they have and how powerful they can be should they so choose. They are making small adjustments and whittling away more and more as time goes on and people are okay with it because the changes aren’t big and drastic and being done all at once permalink embed save parent report give award reply [–]mottledshmeckle 5 points 1 day ago If people would stop being egocentric and look back 40 or 50 years to see how much freedom the governments have incrementally stolen then maybe people would finally understand. Only looking at the world since you arrived on it is HOW government can keep stealing everybody's freedom, bit by bit. permalink embed save parent report give award reply [–]Professional-Tea2397 1 point 20 hours ago Which country do you live in and what important freedoms are you missing? I'm curious permalink embed save parent report give award reply [–]mottledshmeckle 3 points 13 hours ago The freedom to not have every transaction tracked, the freedom to have a conversation without being eavesdropped on. This entire conversation will be forwarded to an NSA data center in Utah, which according to the American constitution, is illegal surveillance. There is no warrant allowing my phone conversations to be tracked, yet they are. And the governments get away with it because of the snarky ignorance of the average idiot online today. The government collects EVERYTHING in the hopes they can someday jam it back up your ass. The freedom to not have every piece of mail I have sent photographed and cataloged (because it may have anthrax in it) the freedom to have my constitutional rights mean something, instead of being slowly eroded bit by bit, through court precedent by activist judges, try to legislate from the bench. The freedom to have my relationships with my doctor priest and lawyer, sacrosanct. The FBI has been given the right to break into your home or lawyers office, without a warrant. There might be something in there they want. Fucking illegal as hell, but making illegal laws has become the legislation du jour since 9/11. The freedom to not be locked in my home or the local church being closed on a whim. Rights aren't privileges extended by the government, they are laws written into the foundational documents of this country. permalink embed save parent report give award reply [–]CoolioMcCool 0 points 1 day ago They're already quite powerful and will be moreso when CBDCs are fully rolled out. What will you use to obtain BTC if all employers are paying you in CBDC and exchanges are banned from selling you BTC? All trade and business in BTC would have to be underground. How would you aquire or sell if no legitimate business could accept or pay with it? Much less easily. permalink embed save parent report give award reply [–]MiceAreTinyredditor for 6 weeks 2 points 22 hours ago I would move or use a foreign exchange. The governments jurisdiction is limited, bitcoin is not. permalink embed save parent report give award reply [–]CoolioMcCool 1 point 21 hours ago I know they can not make it impossible, my point I guess is that they can make it extremely inconvenient, and you rely on the actions taken against it to not be applied across the board. I do think at least in the near term that such extreme measures are very unlikely by governments as it would be too obviously dystopian. permalink embed save parent report give award reply [–]MiceAreTinyredditor for 6 weeks 3 points 19 hours ago they can make it extremely inconvenient They can make it as hard as it is to get some weed. permalink embed save parent report give award reply [–]CoolioMcCool 1 point 16 hours ago Yeah I guess you're right on that. They'd still discourage a lot of people but not those who need it, and I think in fighting it they would push many to realise why they need it. permalink embed save parent report give award reply continue this thread [–]kurnaso184 2 points 1 day ago Why btc and not gold/stocks or other assets? Not that I don't like btc, on the contrary. I just don't see an argument specifically for it here. permalink embed save parent report give award reply [–]amretardmonke 7 points 1 day ago Btc is more liquid. Try transferring gold or stocks to someone in another country, see how long it takes you. permalink embed save parent report give award reply [–]Whatnam8 1 point 1 day ago The Central Banks have been buying gold at a very fast pace. They know the dollar bill won’t be squat and they will have a currency that is actually worth something, gold permalink embed save parent report give award reply [–]amretardmonke 1 point 19 hours ago That's great, but its hard to do international business in gold. Soon its going to turn into using "paper gold", and then greed takes over and somehow they end up with more paper gold than actual gold. Tale as old as time. permalink embed save parent report give award reply [–]Adamn27 6 points 1 day ago It is the same permalink embed save parent report give award reply [–]bitsteiner 1 point 1 day ago Or apply a negative interest rate. permalink embed save parent report give award reply [–]Kaizen_Kintsgui 1 point 1 day ago Literally negative interest rates. They gain no new capability. permalink embed save parent report give award reply [–]bawsofsteel 19 points 1 day ago Why would I want to hoard it when bitcoin exists? The UK government are just trying to make it seem like their token will be worth something. permalink embed save report give award reply [–]NE0-Genesis 7 points 1 day ago Just curious what happens if the pound hyper inflates and the government comes out with cbdc which is heavily restricted and doesn't allow you to purchase or cash out bitcoin? permalink embed save parent report give award reply [–]CallingVoid 19 points 1 day ago Probably something similar to what's happening in African countries that ban BTC, where a circular bitcoin economy develops. permalink embed save parent report give award reply [–]TechHonie 12 points 1 day ago Once a circular Bitcoin economy develops we rule the world. Frankly I can't wait because I've got my eye on a large swath of Canadian territory that I plan to seize control of. permalink embed save parent report give award reply [–]Double-Tap9336 5 points 1 day ago I smell a citadel in your future. permalink embed save parent report give award reply [–]BringTheFingerBack 3 points 1 day ago Sounds like you are just as bad as the people Bitcoin is trying to overthrow permalink embed save parent report give award reply [–]lifegoeson2727 2 points 1 day ago No people buy land all the time. People save money in gold and buy land. Is gold trying to overthrow people? No. Bitcoin and gold are inanimate objects, like chairs or tables or rocks or sand. They don’t try to overthrow things or people, they don’t have a mind of their own, they just exist. permalink embed save parent report give award reply [–]BringTheFingerBack -3 points 1 day ago What? permalink embed save parent report give award reply [–]lifegoeson2727 1 point 1 day ago Bitcoin is an inanimate object like a rock. Do you also talk about rocks trying to overthrow people? Do you ascribe traits like good and evil to different colored rocks? permalink embed save parent report give award reply [–]BringTheFingerBack 0 points 1 day ago What does that have to do with what I said? permalink embed save parent report give award reply [–]lifegoeson2727 0 points 1 day ago You were talking about bitcoin trying to do something- I was just pointing out bitcoin has never tried to do anything, much in the same way a shoe lace has never tried to do anything, it cannot think, it simply exists like a rock in a valley. permalink embed save parent report give award reply continue this thread [–]lifegoeson2727 1 point 1 day ago How can bitcoin try to do something? permalink embed save parent report give award reply [–]BringTheFingerBack 1 point 1 day ago TechHonie sounds as bad as the people Bitcoin is trying to overthrow permalink embed save parent report give award reply [–]NE0-Genesis 2 points 1 day ago But what if the vast majority of people adopt the cbdc leaving only minority holding out for and using bitcoin. Bitcoin price plummets permalink embed save parent report give award reply [–]CallingVoid 4 points 1 day ago That's why I used Africa as an example. Currently bitcoin trades at something like a 60% premium in some Africn nations because people want it badly but can't easily purchase it with their bank accounts. There are still ways to get it though. It doesn't matter if the majority still use CBDC, in fact, that's the future I expect (I don't buy into hyperbitcoininisation). Bitcoin is the opt-out of this abusive model, and it can't be stopped. permalink embed save parent report give award reply [–]NE0-Genesis -4 points 1 day ago Bit it's proven to not be a store of value during bad economic times. You might as well buy gold now and wait for the cbdc to come out, then use the gold to buy bitcoin when it plummets to like $100 after all governments simultaneously ban ot in the west. permalink embed save parent report give award reply [–]CallingVoid 4 points 1 day ago Not sure I agree with your statement, bitcoin hasn't been around for long enough yet. But what I can say for sure is bitcoin goes far beyond just being a store of value. That's a shitcoin narrative. Bitcoin is a permissionless network of sovereign individuals, it is the base layer on which so much can and likely will be built. As for timing the market. It's not that simple of course. If I could predict the future I would trade, but I can't. I consider it safer to accumulate now and arm myself with the tools to buy when the government bans it. That way I can average down if I need to. Question, what makes you think gold is safe in this scenario? If they go for bitcoin you can bet they'll go for gold as well. permalink embed save parent report give award reply [–]Correct-Log5525 1 point 15 hours ago Doubt that will happen permalink embed save parent report give award reply [–]amretardmonke 2 points 1 day ago Quite the contrary. Bitcoin is going for a premium in places where it is banned, just like any other banned material, such as drugs or weapons, etc. permalink embed save parent report give award reply [–]Double-Tap9336 1 point 1 day ago I can't wait for that, I would be exit liquidity for all. permalink embed save parent report give award reply [–]lifegoeson2727 1 point 1 day ago What if everyone is forced to sell all their gold all their land all their jewelry all their artwork all their technology all their work everything? For cbdc. Well at that point you must ask yourself if you can’t buy anything with cbdc, then what’s the value of cbdc? It’s a fundamental tenet of a currency that it is worth more the more things you can buy with it. A dollar which can buy nothing is worthless, a dollar which can buy everything on earth is worth everything on earth. They could ban you from buying bitcoin. And they could ban you from buying gold. But as long as you can pay for a haircut with cbdc, the barber can pretend to cut your hair then send you bitcoin. As long as something can be bought with cbdc, you can buy bitcoin with cbdc. And if you cannot buy anything with cbdc, then cbdc is functionally worthless because there is no answer to one simple question: what can you use it for? permalink embed save parent report give award reply [–]TechHonie 3 points 1 day ago Then you work for Bitcoin over the internet and you send Bitcoin to people over the internet to receive packages of supplies. permalink embed save parent report give award reply [–]NE0-Genesis 1 point 1 day ago So you assume the vast majority of people won't adopt the cbdcs even after hyper inflation. And you assume you will be able to do jobs under the table for bitcoin? permalink embed save parent report give award reply [–]lifegoeson2727 2 points 1 day ago If you say you gave me a haircut, I say you gave me a haircut, I send you CBDC and you send me bitcoin- how does the government prevent that? permalink embed save parent report give award reply [–]NE0-Genesis 1 point 1 day ago Because the person who gave you the haircut can't get bitcoin since cash is gone and the cbdc is restricted permalink embed save parent report give award reply [–]lifegoeson2727 2 points 1 day ago So we can’t get haircuts in this new cbdc economy? Everyone just has long hair? permalink embed save parent report give award reply [–]NE0-Genesis 2 points 1 day ago No if you want a haircut you'll have to transact in cbdcs permalink embed save parent report give award reply [–]lifegoeson2727 1 point 1 day ago I never said don’t transact in cbdc. I said you pay your barber for a haircut in cbdc. He gives you bitcoin. Is the government coming to inspect if your hair is shorter? Even if it is the barber could just cut off some of your hair to satisfy that inspection permalink embed save parent report give award reply [–]NE0-Genesis 1 point 1 day ago Again, how is your barber going to send you bitcoin unless he had it before cbdc? If the cbdc is restricted, nobody will be able to buy bitcoin anymore. permalink embed save parent report give award reply [–]lifegoeson2727 1 point 1 day ago He can easily obtain bitcoin by mining it. Also he can buy it himself from someone who runs another business instead of haircuts maybe hes a plumber. Also all bitcoin currently in existence is already owned by people like the barber. It won’t just cease to exist when cbdc comes in to existence. permalink embed save parent report give award reply [–]NE0-Genesis 1 point 1 day ago Yes but it's value might plummet, that's all I'm saying permalink embed save parent report give award reply continue this thread [–]Z3LS3 1 point 1 day ago You are twisting yourself into a pretzel trying to make your hypothetical work. It’s a silly idea. This wouldn’t be a practical or rational strategy for western governments. I’m an electrical contractor. I do electrical work for you- and offer a 5% discount if you transfer me Bitcoin instead of CBDC. Other people that use bitcoin take me up on this, to the tune of half my gross profit. Now the balls in your court, IRS. You want to get paid, right? So, BTC is either legal tender which you will accept tax payments in, or you’re going to give me a CBDC/BTC swap. permalink embed save parent report give award reply [–]lifegoeson2727 1 point 1 day ago I never said cash. I pay him CBDC for a haircut. He gives me bitcoin. How does the government prevent that? permalink embed save parent report give award reply [–]Ur_mothers_keeper 2 points 1 day ago Purchase "paintings" that secretly come with bitcoin for free. What do you think the art market is even for really? permalink embed save parent report give award reply [–]mottledshmeckle 1 point 1 day ago Paying for human trafficking. permalink embed save parent report give award reply [–]ThreetoedJack 1 point 1 day ago Money is fungible though. The cbdc that I can buy bread with but can't buy BTC with is what I'll use to buy bread. But then the non-cbdc money that I was going to use to buy bread with is now freed up to buy BTC. permalink embed save parent report give award reply [–]Satoshi_Nakamoto44 4 points 1 day ago Tory nonce cunts permalink embed save report give award reply [–]murram20 6 points 1 day ago They are just advertising bitcoin permalink embed save report give award reply [–]knuF 5 points 1 day ago “Britcoin” LOL permalink embed save report give award reply [–]Fatbaldmuslim 18 points 1 day ago I don’t believe this, people would just exchange into a different currency inc BTC permalink embed save report give award reply [–]entilfeldigfyr69redditor for 3 months 22 points 1 day ago They could easily ban it's transfer to exchanges and only make it transferable to KYC'd individuals. CBDCs are so programmable they can make it very hard to buy BTC or other assets. permalink embed save parent report give award reply [–]CallingVoid 11 points 1 day ago Use cbdc to buy some asset, trade asset for bitcoin. For an example, you can do it with Amazon gift cards on a decentralized exchange like BISQ (and people do) permalink embed save parent report give award reply [–]Halo22B 15 points 1 day ago Awesome until they say 3gift cards is your annual limit....or they go to Amazon and ask who made a purchase using gift card#123abc....they flag you and restrict future use. Or better yet fine you for past "indescretions" People don't understand the control vector a CBDC is. permalink embed save parent report give award reply [–]CallingVoid 6 points 1 day ago No I understand, I simply used it as an example because people currently do it. There are less intrusive commodities that could be traded for bitcoin. And not everything needs to go via a CBDC. For example, I'm a farmer that sells at a local market. I use CBDCs to buy my seed and fertilizer. I go to market and I sell my produce to regular CBDC using customers, I also allow BTC under the table. So some customers buy my produce for BTC and I report it as unsold/spoilt goods. I may offer computer repair services and business may appear slow (because 40% of my clients are off the books, paying in BTC). Oh well! I guess I'm not a natural businessman! There are ways around it with circular bitcoin use. There is already a lot of BTC out there. permalink embed save parent report give award reply [–]Better_Call_Salsa 6 points 1 day ago I make that illegal, all CBDC traded for BTC is rendered void since I can now void any dollar I want to. Now it's both illegal and I've nullified the marketplace for any currency swap since it's a financial loss. CBDC is literally the worst power you can give to a government, it is absolute slavery. permalink embed save parent report give award reply [–]CallingVoid 2 points 1 day ago Make it illegal all you like, you have to be able to identify when a transfer is used to purchase bitcoin. That is easy if you ban exchanges, but much, much harder, much more intrusive for p2p. But regardless I may never have swapped currency for bitcoin. I traded goods and services. No CBDC can track that. Remember, making something illegal doesn't stop it from happening, especially if people think it's not justified. permalink embed save parent report give award reply [–]MiceAreTinyredditor for 6 weeks 1 point 22 hours ago You can make something illegal, but without a way to enforce it, it is useless. permalink embed save parent report give award reply [–]lifegoeson2727 4 points 1 day ago If you say you gave me a haircut, I say you gave me a haircut, I send you CBDC and you send me bitcoin- how does the government prevent that? permalink embed save parent report give award reply [–]Halo22B 3 points 1 day ago Where is your license to cut hair? Are you making a profit cutting hair? Why aren't you paying taxes on that profit?.....and on and on and on permalink embed save parent report give award reply [–]lifegoeson2727 2 points 1 day ago What are you talking about? You have your license to cut hair, you are making a profit cutting hair and you are paying taxes. Just like in todays world. permalink embed save parent report give award reply [–]Bitcoin_Maximalistredditor for 3 months 2 points 1 day ago because your gov banned bitcoin and your hairdresser won´t touch it because of fear. or because you won´t be able to download a bitcoin wallet in the "appstore" (because it was banned) . only people which a good IT understanding will be able to use it in this case. prepare for that. permalink embed save parent report give award reply [–]lifegoeson2727 0 points 1 day ago Too many people already have electrum and bisq downloaded. The hairdresser already uses bitcoin permalink embed save parent report give award reply [–]alpubgtrs234 1 point 1 day ago Ass, gas or grass…? permalink embed save parent report give award reply [–]Asleep_Plant6117 1 point 1 day ago Gras I guess permalink embed save parent report give award reply [–]Rice-Fragrant 1 point 1 day ago Yup… it will become a black market but it won’t stop anything. permalink embed save parent report give award reply [–]thisguyhaschickens 2 points 1 day ago I assume a CBDC would be peer to peer though? You could potentially bypass an exchange by buying and selling BTC direct permalink embed save parent report give award reply [–]lifegoeson2727 1 point 1 day ago Let’s say you say you gave me a haircut, I say you gave me a haircut, I send you CBDC and you send me bitcoin. The government has no way to prevent that? permalink embed save parent report give award reply [–]Rice-Fragrant 1 point 1 day ago It won’t affect getting bitcoin because people could get BTC by BARTER with things like groceries, tools etc… it hampers adaption speed but it can’t stop people actually getting bitcoin. permalink embed save parent report give award reply [–]BTCPriestredditor for 7 weeks 1 point 1 day ago Unless they completly restrict on-and offboarding to exchanges. Better get some bitcoin now and once the shit hits the fan participate in a bitcoin circular economy. permalink embed save parent report give award reply [–]lifegoeson2727 1 point 1 day ago If you say you gave me a haircut, I say you gave me a haircut, I send you CBDC and you send me bitcoin- how does the government prevent that? permalink embed save parent report give award reply [–]Lexsteel11 0 points 1 day ago I mean once you are tagging the cbdcs as individual tokens, it would be pretty easy to run a cross-chain explorer query/GraphQL to see the transaction number and token ids of what you exchanged them for with a kyc exchange. The idea has been floated to continually tax held-wealth as a fine for “not allowing your liquidity to be used productively to the economy” which I could see gain traction unfortunately. permalink embed save parent report give award reply [–]lifegoeson2727 3 points 1 day ago Why do you use kyc exchanges? just use bisq. It’s actually a better user experience than kyc exchanges permalink embed save parent report give award reply [–]Lexsteel11 2 points 1 day ago Well in this scenario I’m assuming a move to cbdcs and taxing held wealth would be accompanied by new measures to force people through the preferred channels of exchange permalink embed save parent report give award reply [–]lifegoeson2727 2 points 1 day ago How could you prevent someone from using a no kyc exchange though? By definition it does not know the identity of its users permalink embed save parent report give award reply [–]Lexsteel11 2 points 1 day ago Subpoena the servers for the site (as long as its domiciled in a country with extradition/cooperation between governments) and get IP addresses of everyone conducting transactions. Let’s say 20% of those addresses knew to use a vpn/dns proxy but 80% either didn’t or had a leak in their setup (I’d say that’s a generous estimate of the population knowing how/why to set that up). Then just make a public spectacle of throwing a few of those in the 80% in cages and you will scare most people into compliance permalink embed save parent report give award reply [–]lifegoeson2727 4 points 1 day ago* Hmm but that’s actually not how it works. Bisq does not use a website, and there are no bisq servers. Each bisq users data is stored on the respective bisq users devices- to such an extent that if their device is no plugged in to a power source and connected to the internet with the bisq application installed and open and running, you functionally do not exist as far as bisq is concerned. Your bisq orders will only be visible for the duration that your computer is on and connected to the internet with your bisq application open. You can think of it like a system of walkie talkies- bisq users don’t have a server in the middle, it’s walkie talkies communicating directly with each other. If a walkie talkie is off, they cannot hear or see you, and you cannot hear or see them. There is no satellite between the walkie talkies. Additionally all bisq traffic runs through tor, so no one’s IP is visible. permalink embed save parent report give award reply [–]Lexsteel11 2 points 1 day ago That’s actually really interesting and I didn’t know that was functionally how bisq worked- that’s a good point, not sure if they could get a list of addresses of those who downloaded it or last connection date/time but all I know is the FBI caught ISIS members using private party chat on Xbox live to communicate rather than sms/calls and that blows my mind how they could have caught that, so in my mind I just know there are people smarter than me being paid to solve these problems and given enough time they probably could, but idk permalink embed save parent report give award reply [–]graphic-crypto 4 points 1 day ago Thank but I’ll just be hoarding bitcoin permalink embed save report give award reply [–]HamsterNo7320 3 points 1 day ago Pay wall, anyone? I want to read the whole article. permalink embed save report give award reply [–]ChuckieEgg77 4 points 1 day ago https://12ft.io/proxy?q=https%3A%2F%2Fwww.telegraph.co.uk%2Fbusiness%2F2023%... permalink embed save parent report give award reply [–]HamsterNo7320 1 point 1 day ago I don't have any reward, so take that response as one. Anyway, so all you did is use 12ft.io? How can I use it myself? Does it works on every website with a paywall or is it specific to a few ones? permalink embed save parent report give award reply [–]ChuckieEgg77 3 points 1 day ago Just go to https://12ft.io and paste the article's address into the box. It might not work for every website but it seems to have fairly good coverage. permalink embed save parent report give award reply [–]stevem292 1 point 1 day ago thx permalink embed save parent report give award reply [–]bitsteiner 2 points 1 day ago archive.is permalink embed save parent report give award reply [–]Opening-Group-7841 2 points 1 day ago Bullish permalink embed save report give award reply [–]TaiwanNumberOne1 2 points 1 day ago No problem, just use the shitcoin to buy BTC. Problem solved. permalink embed save report give award reply [–]MrQ01 2 points 1 day ago I still can't see the connections being made between CBDCs and Bitcoin. If the UK wants to ban Bitcoin, then can just ban crypto exchanges (from being used by UK citizens), and they can do this today and drive Bitcoin to the underground - while we're still in the midst of a bear market. They've already banned crypto ETFs, crypto leveraged trading etc. But they don't ban exchanges. Meanwhile, using CBDCs to attain Bitcoin is even harder to control, because all you're doing is transferring your CBDC to someone else - there's zero method of proving it was used in parallel with a P2P transfer. Am I missing something? I definitely don't agree with the idea of banning GBP hoarding, but this is a separate issue to Bitcoin. permalink embed save report give award reply [–]stevem292 2 points 1 day ago talk of 'consultation' until 2025 and the 'end of the decade' for the infliction of this nonsense. moving at the speed of bureaucracy, these degenerates shuffling into obsolescence is a wretched spectacle. most of this stuff honestly seems to be happening over my shoulder of late - they're talking only to themselves, publicly demonstrating their irrelevance - i can't be the only one sensing this, as there's nothing particularly special or exceptional about me. permalink embed save report give award reply [–]PointOfTheJoke 2 points 1 day ago Sometimes I think mainstream global Bitcoin adoption is a pipe dream. Then old dingbats in power say words and im convinced its inevitable. permalink embed save report give award reply [–]before686entenz 1 point 1 day ago Misleading title. They plan to prevent people withdrawing all their money from banks into it to prevent a bank collapse. permalink embed save report give award reply [–]bitsteiner 1 point 1 day ago That would be the consequence of "hoarding" CBDC. Nothing wrong with the title. permalink embed save parent report give award reply [–]fnetma 2 points 1 day ago Buy Bitcoin permalink embed save report give award reply [–]Automatic-Ad3612 2 points 1 day ago What happens to the black market weed game when they do away with the almighty dollar? Asking for a friend permalink embed save report give award reply [–]OB1182 1 point 1 day ago They also could BAN savings accounts with banks now. But they won't. permalink embed save report give award reply [–]OkeyDokeyWokey 0 points 20 hours ago Considering there is no difference between a savings and checking account other than semantics, they have no reason to. Interest rates are negligible or non-existant already. permalink embed save parent report give award reply [–]BastiatF 1 point 1 day ago Why would you self-custody a CBDC which is entirely under the control of the central bank anyway? permalink embed save report give award reply [–]bitsteiner 1 point 1 day ago Right, a CBDC "wallet" will simply access your personal account with the central bank. permalink embed save parent report give award reply [–]BastiatF 1 point 1 day ago The difference with a traditional bank account being that they can restrict, freeze or expire your funds at will and there is nowhere else to go permalink embed save parent report give award reply [–]bitsteiner 0 points 1 day ago They can do that with both, no difference. permalink embed save parent report give award reply [–]BastiatF 1 point 1 day ago No, your bank cannot freeze or expire your funds AT WILL. Also if you don't like your bank, you can go to another. If you don't like your central bank, where do you go? permalink embed save parent report give award reply [–]bitsteiner 1 point 1 day ago Banks can't do that at will, but they have to by law based on suspicion of money laundering. I agree, CBDCs will make it worse, but on the other hand there is not the counter party risk of a bank failure. permalink embed save parent report give award reply [–]BastiatF 1 point 21 hours ago I'd take that any day compared to the risk of having my money frozen because the state doesn't like my social media posts or my diet, imposing negative rates and spying on every single one of my transactions. permalink embed save parent report give award reply [–]CYjgb 1 point 1 day ago Fucking Commies!! permalink embed save report give award reply [–]Victouflachips 1 point 1 day ago Source ? permalink embed save report give award reply [–]harmlessdissent 1 point 1 day ago How are they going to artificially give this shit token any value at all? permalink embed save report give award reply [–]Lam7r 1 point 1 day ago Same way they artificially give the paper money value permalink embed save parent report give award reply [–]skyboy10 1 point 1 day ago Using controlled “crypto” defeats the whole purpose of it permalink embed save report give award reply [–]Tipyapha 1 point 1 day ago A clown country permalink embed save report give award reply [–]Dazzling_Marzipan474 1 point 1 day ago Better load up on BTC now fellas. permalink embed save report give award reply [–]Lam7r 1 point 1 day ago I draw all my money out of my bank now and save in BTC and boring stocks and they haven’t banned me so far. Not that I would save in a digital £ either so no matter permalink embed save report give award reply [–]tjangofat 1 point 1 day ago Arent most banks currently also buying bitcoin as assets? permalink embed save report give award reply [–]bitsteiner 1 point 1 day ago It is understood that Britons will initially be limited to transferring a few thousand “digital pounds” into their accounts under plans being drawn up. The limit will be imposed in order to prevent “large and rapid outflows” from traditional high street banks. Officials fear that the frictionless nature of digital money would allow people to shift their wealth almost instantly between accounts, giving rise to the risk that banks could quickly collapse if they find themselves under stress and customers begin to withdraw their funds. Right, it would empty the reserves of the banks if only a small fraction of deposits was transferred into CBDCs, hence banks run fractional reserve. There will be a also ban on transferring your CBDC in and out of the bond market, since it would allow people to gain interest on their savings while bypassing banks, since a CBDC doesn't pay interest. permalink embed save report give award reply [–]ThomasAurlant 1 point 1 day ago All is built on consume, consume more and consume again. So the best way to make people consumé is to add a Time value on money. Could be inflation too. permalink embed save report give award reply [–]zesushv 1 point 1 day ago It's not here yet, they are making efforts to make it hell there. permalink embed save report give award reply [–]BEETOKENS 1 point 1 day ago Just sell it all and buy bitcoin... Problem solved permalink embed save report give award reply [–]Enormouslypoor 1 point 1 day ago Only the chosen ones are allowed to save and invest. The rest are their slaves, they don’t deserve owning anything. permalink embed save report give award reply [–]GodOfOdium 1 point 1 day ago Perfect!! What more can you ask for? permalink embed save report give award reply [–]GodOfOdium 1 point 1 day ago Just keep as many CBDC as you can afford to lose. permalink embed save report give award reply [–]connell83 1 point 1 day ago Why aren't the media calling the government out on this attempt to control and spy on people. A cbdc is literally the beginning of the end of freedom. permalink embed save report give award reply [–]hughlanko 1 point 1 day ago Ah yes, Jeremy… permalink embed save report give award reply [–]Chipjack 1 point 1 day ago Banks make a profit. If they loaned out those profits, rather than loaning out the money they're supposedly holding for their customers, they could continue to be profitable even if every customer showed up and withdrew every bit of their account balances. Unfortunately, that sort of theft-and-fraud-free banking model would be less profitable than the one we've got now, so it's very important to them to embrace the safe new digital money while making sure that they retain the same power over it that allowed them to destroy the value of the old paper money. Flushing the pot does no good if you fish out the shit first and then drop it back into the clean water later. permalink embed save report give award reply [–]Ur_mothers_keeper 1 point 1 day ago This is too good. They can't be this stupid. They're guaranteeing liquidity for other currencies you can save and that don't expire. Gresham's law, people will save, they just won't save pounds. permalink embed save report give award reply [–]Kaizen_Kintsgui 1 point 1 day ago They could do this with negative interest rates. CBDCs give them no new capabilities. And who cares, were going to use bitcoin. I just don't understand why you guys are so afraid of this when you are voluntarliy exiting the fiat system anyway. permalink embed save report give award reply [–]noyrb1 1 point 1 day ago Sounds excellent 😂👍 permalink embed save report give award reply [–]WilsonFx1997 1 point 21 hours ago Crypto regulations are hard i swear😅 permalink embed save report give award reply [–]Puzzleheaded_Heat502 1 point 20 hours ago So you have to buy goods and hoard those instead permalink embed save report give award reply [–]Short-Survey7013redditor for 6 weeks 1 point 19 hours ago Dunno what this means. PDF of the article please. permalink embed save report give award reply [–]likethis999 1 point 18 hours ago They also drive left of the road permalink embed save report give award reply [–]bobbyv137 1 point 17 hours ago ‘Britcoin’ permalink embed save report give award reply [–]emka-ace 1 point 16 hours ago Buy the dip permalink embed save report give award reply [–]sylsau 1 point 12 hours ago CBDCs are an even worse version of fiat currencies. Those who refuse to open their eyes today may regret it in the future with the mass surveillance and controlled society that these governments want to impose on us all over the world. They criticize China but seem to take example without any remorse on the digital yuan and the closed society model that the CCP imposes on its people. Bitcoin is your peaceful weapon to protect from this future. permalink embed save report give award reply [–]ZachCope 1 point 9 hours ago ‘Freicoin’, one of the original shitcoins tried this years ago. It was shit like all shitcoins but at a faster rate of decay. permalink embed save report give award reply [–]PhysicsDazzling1318 1 point an hour ago Q. permalink embed save report give award reply [–]Lovelotsoffreedom 0 points 1 day ago Sorry UK but you guys need #Dero permalink embed save report give award reply
The only way to not have this cbdc shit force fed to you by govbank, is to throw it back in their faces right fucking now before they take it any further. https://www.coindesk.com/policy/2023/02/28/ex-biden-adviser-said-administrat...
Note clearly the weasel words he embedded in what they're trying to rally people to "support", and that's readily noted before you get to finding even more weasels in the proposed text... https://www.youtube.com/watch?v=VRIhxOcGH4s Emmers "vs" CBDC Representative Tom Emmers just held a press conference to warn the public about CBDCs. We ALL need to support this, and inform those listening that Bitcoin is the only alternative to CBDCs and therefore means Freedom. see also https://www.federalreserve.gov/econres/notes/feds-notes/central-bank-digital... https://www.federalreserve.gov/econres/feds/files/2022076pap.pdf https://ballotpedia.org/Tom_Emmer https://prospect.org/power/congressmembers-tried-to-stop-secs-inquiry-into-f...
Here are two more CBDC weasels that need removed from your garden... https://bitcoinist.com/ripple-in-dialogue-over-20-central-banks-cbdcs/ https://cryptoslate.com/bank-of-england-deputy-governor-tells-treasury-commi...
https://bitcoinist.com/ripple-in-dialogue-over-20-central-banks-cbdcs/
https://www.kitco.com/news/2023-03-01/Ripple-is-working-with-more-than-20-co... https://crypto.news/ripple-2023-crypto-space-outlook-is-positive/ Everyone knew ripple was garbage, but cheered it anyway. Now Ripple-XRP is proud to be fucking you over with its CBDC plans. The entire space of corporate and 'foundation' and 'governance' shitcoins is simply disgusting to human freedom and needs to die. “No two situations, no two central banks, no two countries are the same. There are 200-plus countries out there. There are a lot of central banks and they have different needs and there are different parts of this journey,” Entwistle said. “So, we are in dialogue with not ten, not twenty, but a bunch more central banks around the world on these discussions. We’ve announced projects with Bhutan, with Palau, and others to come, and I think that just shows you that this really resonates now.” Entwistle went on to note that being able to collaborate directly with governments and regulators is “invaluable,” saying that in most parts of the world discussions about crypto and blockchain have been welcomed, as opposed to the U.S., where Ripple is being sued by the Securities and Exchange Commission (SEC) for the sale of unregistered securities. Ripple is currently in talks with over 20 central banks regarding the development of a central bank digital currency (CBDC). Ripple is focused on assisting emerging countries with their CBDC development in an effort to help reduce the number of unbanked people in the world. Ripple is being sued by the SEC for the sale of unregistered securities in the U.S. Ripple, in a recent report, predicts that the industry will see a shift towards companies that harness crypto solutions to do away with problems and address unmet customer needs. This shift towards utility will be seen in developing central bank digital currencies (CBDCs) and non-fungible tokens (NFTs) as it also predicts blockchain incorporation to increase in universities.
BRICS+ "NewCoin" = just another Globalist Fiat CBDC Nightmare Being Foisted upon Humanity in the latest Turning... Crypto now up over 16% on the news... Escobar: Moveable Multipolarity In Moscow - Ridin' The "Newcoin" Train Authored by Pepe Escobar, The new currency should be able to become an “external money” storage of capital and reserves down the road, not just a settlement unit... Ah, the joys of the Big Circle Line (BKL, in Cyrillic): circumnavigating the whole of Moscow for 71 km and 31 stations: from Tekstilshchiki – in the old textile quarter – to Sokolniki – a suprematist/constructivist gallery (Malevich lives!); from Rizhskaya – with its gorgeous steel arches – to Maryina Roscha – with its 130 meter-long escalator. The BKL is like a living, breathin’, runnin’ metaphor of the capital of the multipolar world: a crash course in art, architecture, history, urban design, tech transportation, and of course “people to people’s exchanges”, to quote our Chinese New Silk Road friends. President Xi Jinping, by the way, will be ridin’ the BKL with President Putin when he comes to Moscow on March 21. So it’s no wonder that when a savvy investor at the top of global financial markets, with decades of experience, agreed to share some of his key insights on the global financial system, I proposed a ride on the BKL – and he immediately accepted it. Let’s call him Mr. S. Tzu. This is the minimally edited transcript of our moveable conversation. Thank you for finding the time to meet – in such a gorgeous setting. With the current market volatility, it must be hard for you to step away from the screens. S. Tzu: Yes, markets are currently very challenging. The last few months remind me of 2007-8, except instead of money-market funds and subprime mortgages, these days it is pipelines and government bond markets that blow up. We live in interesting times. The reason I reached out to you is to hear your insights on the “Bretton Woods 3” concept introduced by Zoltan Poszar. You’re definitely on top of it. S. Tzu: Thank you for getting straight to the point. There are very few opportunities to witness the emergence of a new global financial order, and we are living through one of those episodes. Since the 1970s, perhaps only the arrival of bitcoin just over fourteen years ago came close in terms of impact to what we are about to see in the next few years. And just as the timing of bitcoin was not a coincidence, the conditions for the current tectonic shifts in the world financial system have been brewing for decades. Zoltan’s insight that “after this war is over, ‘money’ will never be the same again…” was perfectly timed. Understanding “external money” You mentioned bitcoin. What was so revolutionary about it at the time? S. Tzu: If we leave aside the crypto side of things, the promise and the reason for bitcoin’s initial success was that bitcoin was an attempt to create “external” money (using Mr. Zoltan’s excellent terminology) that was not a liability of a Central Bank. One of the key features of this new unit was the limit of 21 million coins that could be mined, which resonated well with those who could see the problems of the current system. It sounds trivial today, but the idea that a modern monetary unit can exist without backing of any centralized authority, effectively becoming “external” money in digital form, was revolutionary in 2008. Needless to say, Euro government bond crisis, quantitative easing, and the recent global inflationary spiral only amplified the dissonance that many felt for decades. The credibility of the current “internal money” system (again, using Mr. Poszar’s elegant terminology) has been destroyed long before we got to the Central Bank reserve freezes and disruptive economic sanctions that are playing out currently. Unfortunately, there is no better way to destroy credibility of the system based on trust than to freeze and confiscate foreign currency reserves held in Central Bank custody accounts. The cognitive dissonance behind the creation of bitcoin was validated — the “internal money” system was fully weaponized in 2022. The implications are profound. Now we are getting to the nitty-gritty. As you know, Zoltan argues that a new “Bretton Woods 3” system will emerge at the next stage. What exactly does he mean by that? S. Tzu: I am also not clear on whether Mr. Poszar refers to the transformation of the current Western “internal money” system into something else, or whether he hints at the emergence of the “Bretton Woods 3” as an alternative, outside of the current financial system. I am convinced that a new iteration of the “external money” is unlikely to be successful in the West at this stage, due to the lack of political will and to the excessive government debt that has been building up for some time and grew exponentially in recent years. Before the current Western financial order can move to the next evolutionary stage, some of these outstanding liabilities need to be reduced in real terms. If history is any guide, it typically happens via default or inflation, or some combination of the two. What seems highly likely is that the Western governments will rely on financial repression in order to keep the boat afloat and to tackle the debt problem. I expect there will be many initiatives to increase control over the “internal money” system that will likely be increasingly unpopular. Introduction of CDBC’s, for example, could be one such initiative. There is no doubt in my mind that we are in for eventful times ahead in this respect. At the same time, it also seems inevitable at this stage that some sort of an alternative “external money” system will emerge that will compete with the current “internal money” global financial order. And why is that? S. Tzu: The global economy can no longer rely on the “internal money” system in its current weaponized state for all its trade, reserve, and investment needs. If sanctions and reserve freezes are the new instruments of regime change, every government out there must be thinking about alternatives to using someone else’s currency for trade and reserves. What is not obvious, however, is what the alternative to the current flawed global financial order should be. History does not have many examples of successful “external money” approaches that could not be reduced to some version of the gold standard. And there are many reasons why gold alone, or a currency fully convertible into gold, is too restrictive as a foundation of a modern monetary system. At the same time, recent increases in trade in local currencies unfortunately have a limited potential as well, as local currencies are simply a different instance of “internal money.” There are obvious reasons why many countries would not want to accept other’s local currencies (or even their own, for that matter) in exchange for exports. On that I fully agree with Michael Hudson. Since “internal money” is a liability of a country’s Central Bank, the lower the credit standing of the country, the more it needs investable capital, and the less willing other parties become to hold its liabilities. That is one of the reasons why a typical set of “structural reforms” that IMF demands, for example, is aimed at improving credit quality of the borrower government. “External money” is badly needed precisely by the countries and the governments that feel they are hostages to the IMF and to the current “internal money” financial system. Enter the “newcoin” A lot of experts seem to be looking into it. Sergey Glazyev, for instance. S. Tzu: Yes, there were some indications of that in recent publications. While I am not privy to these discussions, I certainly have been thinking how this alternative system could work as well. Mr. Pozsar’s concepts of “internal” and “external” money are a very important part of this discussion. However, the duality of these terms is misleading. Neither option is fully adequate for the problems that the new monetary unit – let’s call it “newcoin” for convenience – needs to solve. Please allow me to explain. With the weaponization of the current US dollar “internal money” system and a simultaneous escalation of sanctions, the world has effectively split into the “Global South” and the “Global North,” slightly more precise terms than East and West. What is important here, and what Mr. Pozsar immediately noticed, is that the supply chains and commodities are also getting weaponized to some extent. Friend-shoring is here to stay. The implication is that the newcoin’s first priority would be facilitating intra-South trade, without relying on currencies of the Global North. If this were the only objective, there would have been a choice of relatively simple solutions, ranging from using renminbi/yuan for trade, creating a new shared currency (fashioned after euro, ECU, or even Central African CFA franc), creating a new currency based on the basket of participating local currencies (similar to the SDR of IMF), potentially creating a new gold-pegged currency, or even pegging existing local currencies to gold. Unfortunately, history is full of examples of how each one of these approaches creates their own host of new problems. Of course, there are other parallel objectives for the new currency unit that neither of these possibilities can fully address. For example, I expect that all participants would hope that the new currency strengthens their sovereignty, not dilutes it. Next, the challenges with the Euro and previously gold standard demonstrated the broader problem with “fixed” exchange rates, especially if the initial “fix” was not optimal for some members of the currency zone. The problems only accumulate over time, until the rate is “re-fixed,” often through a violent devaluation. There needs to remain flexibility in adjusting relative competitiveness inside the Global South over time for participants to remain sovereign in their monetary decisions. Another requirement would be that the new currency needs to be “stable,” if it were to become successful unit of pricing for volatile things like commodities. Most importantly, the new currency should be able to become an “external money” storage of capital and reserves down the road, not just a settlement unit. In fact, my conviction that the new monetary unit will emerge comes primarily from the current lack of viable alternatives for reserves and investment outside of the compromised “internal money” financial system. So considering all these problems, what do you propose as a solution? S. Tzu: First allow me to state the obvious: the technical solution to this problem is a lot easier to find than to arrive at the political consensus among the countries which might want to join the newcoin zone. However, the current need is so acute, in my opinion, that the required political compromises will be found in due course. That said, please allow me to introduce one such technical blueprint for the newcoin. Let me start by saying that it should be partially (I suggest a share of at least 40% of value) backed by gold, for reasons that will soon become clear. The remaining 60% of the newcoin would be composed of the basket of currencies of the participating countries. Gold would provide the “external money” anchor to the structure and the basket of currencies element would allow the participants to retain their sovereignty and monetary flexibility. There would clearly be a need to create a Central Bank for the newcoin, which would emit new currency. This Central Bank could become a counterparty to cross-swaps, as well as provide clearing functions for the system and enforce the regulations. Any country would be free to join the newcoin on several conditions. First, the candidate country needs to demonstrate that it has physical unencumbered gold in its domestic storage and pledge a certain amount in exchange for receiving corresponding amount of newcoin (using the 40% ratio mentioned above). Economic equivalent of this initial transaction would be a sale of the gold to the “gold pool” backing the newcoin in exchange for proportional amount of the newcoin backed by the pool. The actual legal form of this transaction is less important, as it is necessary simply to guarantee that the newcoin that is being emitted is always backed by at least 40% in gold. There is no need to even publicly disclose the gold reserves of each country, as long as all participants can be satisfied that sufficient reserves are always present. An annual joint audit and monitoring mechanism may be sufficient. Second, a candidate country would need to establish a gold price discovery mechanism in its domestic currency. Most likely, one of the participating precious metals exchanges would start physical gold trading in each of the local currencies. This would establish a fair cross-rate for the local currencies using “external money” mechanism to set and adjust them over time. The gold price of the local currencies would drive their value in the basket for the newly-emitted newcoins. Each country would remain sovereign and be free to emit as much of local currency as they choose to, but this would eventually adjust the share of their currency in the newcoin’s value. At the same time, a country would only be able to obtain additional newcoin from the central bank in exchange for a pledge of additional gold. The net result is that the value of each component of newcoin in gold terms would be transparent and fair, which would translate into the transparency of newcoin’s value as well. Finally, emissions or sales of newcoin by the central bank would be allowed only in exchange for gold for anyone outside the newcoin zone. In other words, the only two ways external parties can obtain large amounts of newcoin is either receiving it in exchange for physical gold or as a payment for goods and services provided. At the same time, the central bank would not be obliged to purchase newcoin in exchange for gold, removing the risk of the “run on the bank.” Correct me if I’m wrong: this proposal seems to anchor all trade inside the newcoin zone and all external trade to gold. In this case, what about the stability of newcoin? After all, gold has been volatile in the past. S. Tzu: I think what you are asking is what could be the impact if, for example, the dollar price of gold were to decline dramatically. In this case, as there would be no direct cross-rate between newcoin and the dollar, and as the central bank of the Global South would be only buying, not selling gold in exchange for newcoin, you can immediately see that arbitrage would be extremely difficult. As a result, the volatility of the currency basket expressed in newcoin (or gold) would be quite low. And this is exactly the intended positive impact of the “external money” anchoring of this new currency unit on trade and investment. Clearly, some key export commodities would be priced by the Global South in gold and newcoin only, making the “run on the bank” or speculative attacks on newcoin even less likely. Over time, if gold is undervalued in the Global North, it would gradually, or perhaps rapidly, gravitate to the Global South in exchange for exports or newcoin, which would not be a bad outcome for the “external money” system and accelerate the broad acceptance of newcoin as reserve currency. Importantly, as physical gold reserves are finite outside of the newcoin zone, the imbalances would inevitably correct themselves, as the Global South will remain a net exporter of key commodities. What you just said is packed with precious info. Perhaps we should revisit the whole thing in the near future and discuss the feedback to your ideas. Now we’ve arrived at Maryina Roscha, it’s time to get off! S. Tzu: It would be my pleasure to continue our dialogue. Looking forward to another loop!
BRICS+ "NewCoin" = just another Globalist Fiat CBDC Nightmare Being Foisted upon Humanity in the latest Turning...
US FED Powell Is Lying About Not Starting CBDC's, War On Crypto, Chokepoint 2.0, Fight Back NOW! US FED San Francisco has just posted many job openings for crypto engineers. It has also been well known for months that the US FED has been operating a CBDC GovCoin pilot testbed in the US west. Also, the Fed has announced it will launch the service FedNow in July, which will allow banks to instantly transfer payments across the financial system... Reuters. Notice how the GovFedBanksters just killed Silvergate SEN and Signature SIGNET, then rolled out their own FedNow that does the same thing. The coordination and lies of these attacks in the war on crypto are unmistakeably classic and well rehearsed actions by these actors. They will kill Fiat and Cash. The only way to win for freedom is to start buying and USING crypto, p2p around the world, right now today.
Mish: The Perfect Solution To The Banking Crisis Is To Make A Truly Safe Bank Authored by Mike Shedlock via MIshTalk.com, We don't need to up the FDIC limit, we need to eliminate the need for FDIC and create a safekeeping bank... Creating a Safe Bank How many times do we have to go down the duration mismatch road with fractional reserve lending and nearly $9 trillion of Fed QE to prove the current banking doesn't work? Once again, systemic risk morphed into economic stress, bank failures, and then a bailout of the banking system, not just Silicon Valley Bank. If you think only depositors got bailed out, you are mistaken. The Fed put a system backstop on $600 billion in bond losses. And although bank executives will lose their jobs, they cashed out tens of millions of dollars in stock options along the way. Specifically, we need a bank that puts 100% of its assets in overnight treasuries and makes zero loans. The bank would not need any loan officers or many operational personnel for obvious reasons. There would be no need for FDIC guarantees because there would be zero risk of a run and zero risk of losses. We can still keep the FDIC term in place, but realistically it would not be needed. In essence, we would create a 100% reserve bank. Such a bank might pay one percentage point less than the Fed 's overnight rate for safekeeping. If the overnight rate fell below 1 percent, the bank would charge a fee for safekeeping. The bank could also do term deposits at a slight discount to corresponding treasury yields. Depositors would be required to hold assets to term. To prevent runs on existing banks right, we would let every bank participate in this offering. Customers would have a chance to place their deposits into safekeeping accounts at existing banks. Bank Lending To make loans, I propose banks would have to attract investment money instead of lending money into existence. They would do so by offering higher than market interest rates on term deposits, but those deposits would not be guaranteed. As an added benefit, this setup would end fractional reserve lending. We would have a full reserve system, unfortunately one that is not backed by gold, but it would be a huge step in the right direction. The immediate economic reaction would likely be contractionary, but that seems to be what the Fed wants now anyway to rein in inflation. Alternatively, perhaps we could phase these ideas in over a 10-year period to mitigate risk. Fed Should Admit Responsibility for Asset Bubbles The Fed needs to admit it is largely responsible for these recurring bailouts. Via QE, the Fed stuffed cash nearly $9 trillion in deposits down the throats of banks and that is why deposits soared so much in the first place. Then despite the obvious risks, regulators eliminated all reserves on deposits and treasuries encouraging Silicon Valley Bank and other banks to seek yield. It’s true that there were three rounds of fiscal stimulus, and the last one under President Biden was totally unwarranted as well as highly inflationary. But it’s the Fed’s job to understand that risk. Unfortunately, the Fed not only sponsored the biggest asset bubble in history, it also failed to understand how free money, student debt cancellations, and zero percent interest rates might cause inflation. Why Is There a Fed? If the Fed cannot see the obvious, why is there a Fed? The only answer I can come up with is Congress would be worse. The Fed aside, there is only one way to truly eliminate borrow-short, lend-long risk, and that is to go to a full reserve system where loans are not borrowed into existence and businesses and banks can have a bank where it is 100% certain their deposits will not be lent. Admittedly, this could cause some short-term pain. Perhaps it would be the end of 30-year mortgages. But it would also serve to end financial speculation due to cheap money. And, as I suggested, perhaps there is a way to phase this in. Why the Fed Doesn't Want Full Reserve Bank In the span of 20+ years, the Fed has blown three economic bubbles and we have had multiple bank bailouts. The Fed does not want a full reserve bank because it wants inflation. Inflation benefits those with first access to money. Banks, the already wealthy, and governments via tax collections are first in line. Now that the Fed has created inflation, it doesn't want that much of the tiger it unleashed. Central Bank Digital Currencies Another reason the Fed does not want a safe bank is so that it can sponsor its own digital currency. Instead of sound money or merely sounder money, the Fed wants to be free to blow bubbles to fix the messes it creates while not understanding what inflation even is. Those who believe the CPI or its PCE cousin measures inflation are wrong. Neither measure directly includes home prices or asset bubbles in general. And we have proven once again that inflation and asset bubbles matter, not just alleged consumer inflation measures. Serious change is needed. Instead, the Fed supports more of the same serial bubble-blowing measures, complete with bailouts and a charlatan digital currency savior on deck as its fake solution.
Fed Announces Launch Of 'FedNow' Real-Time Payment System, Sparking Debate https://www.theepochtimes.com/fed-announces-launch-of-fednow-real-time-payme... https://www.federalreserve.gov/newsevents/pressreleases/other20230315a.htm https://www.federalreserve.gov/newsevents/speech/bowman20220817a.htm https://www.theclearinghouse.org/payment-systems/rtp https://twitter.com/JordanSchachtel/status/1636142181428649987 https://www.pymnts.com/news/security-and-risk/2023/fednow-says-features-will... https://twitter.com/matthewstoller/status/1619070335550382082 https://www.paymentsdive.com/news/fednow-faster-realtime-payments-nonbanks-c... https://emmer.house.gov/_cache/files/b/6/b6b2f564-ffba-438f-9eae-07e285de6b6... https://emmer.house.gov/2023/2/emmer-leads-effort-to-squash-financial-survei... The Federal Reserve has announced a timeline for the launch of its long-awaited FedNow payment service that will let banks offer customers instantly available funds and execute real-time payments, with critics flagging concerns like lack of cross-border payment processing and raising questions about surveillance. The Fed announced on Wednesday that it will begin formal certification of participants in the FedNow system in April in anticipation of a July launch. First announced in 2019, FedNow will allow banks to instantly transfer payments across the financial system. “With the launch drawing near, we urge financial institutions and their industry partners to move full steam ahead with preparations to join the FedNow Service,” Ken Montgomery, first vice president of the Federal Reserve Bank of Boston and FedNow program executive, said in a statement. As banks and other financial institutions join the program, this will create a growing network with clearing and settlement features that lets businesses and individuals send and receive instant payments at any time of day. Recipients using the system will have full access to funds immediately, making it easier to make time-sensitive payments. Some analysts have said that FedNow could reduce demand for payday loans because customers who use the system would receive their pay immediately, without having to wait for checks to clear. “The launch reflects an important milestone in the journey to help financial institutions serve customer needs for instant payments to better support nearly every aspect of our economy,” Tom Barkin, president of the Federal Reserve Bank of Richmond and the FedNow Program’s executive sponsor, said in a statement. The system will have the capacity to support various types of transactions: consumer-to-consumer, consumer-to-merchant, merchant-to-merchant, and bank-to-bank. Fed governor Michelle Bowman said last year that FedNow could offer some of the same benefits as a central bank digital currency (CBDC) and thus weakening the case for the adoption of a CBDC, which is, anyway, years away in the United States. During congressional testimony in early March, Fed chair Jerome Powell was asked by a lawmaker whether there’s an advantage to the FedNow payment system over a CBDC or stablecoins that also tout faster payment services. “A CBDC is going to be years in evaluation,” Powell replied. “And I think we can get this into the hands of the public very quickly, and we’ll have real-time payments in this country very very soon.” FedNow “will enable all the banks—any bank in the United States, not just the big ones—to offer instantly available funds and real-time payments to their customers,” Powell said before the House Financial Services Committee on March 8. “That’s a great thing.” A similar private-sector payment system that offers instant settlement features like FedNow has been around since 2017. Reactions The Fed’s announcement of a timeline for the launch was met with mixed reactions. Some sought to draw equivalence between FedNow and a CBDC. “Right on schedule. Here is your CBDC launch,” Lawrence Lepard, investment manager at Equity Management Associates, stated in a tweet. Scott Santens, author of the book “Let There Be Money,” disputed this characterization, arguing in a series of tweets that FedNow doesn’t have any smart contract ability and is not equivalent to a digital dollar. “FedNow implementation is one of the arguments against launching a CBDC. It’s so not a CBDC that it actually reduces the odds of starting a CBDC,” he wrote on Twitter. “If conspiracy theorists who are afraid of CBDC had any sense at all, they’d argue that FedNow obviates the need for a CBDC. They’d welcome FedNow as an alternative that already exists, so don’t do a CBDC. But they have no sense,” Santens added. Jordan Schachtel, publisher of The Dossier on Substack, raised concerns about surveillance. “FedNow appears to be a prototype CBDC,” he stated in a tweet. “While instant, 24/7 payments seems good, there’s implications to leaning into credit-based system. FedNow can quickly transform to a surveillance system.” “Does FedNow have AI or human circuit breaker managing it? FedNow is a giant red flag,” he added. According to a review of FedNow by PYMNTS, the new platform might, over time, incorporate anti-fraud features that “could provide the ability to fine-tune controls for different types of customers and screen non-value messages, such as requests to send payments to potential bad actors.” “Other updates under consideration would leverage the FedNow Service network to monitor for aggregated concentrations of inbound and outbound activity (a sign of potential mule activity) and use machine learning to score transactions,” PYMNTS noted. The Fed said in its announcement that the service will launch with a “robust set of core clearing and settlement functionality and value-added features” and that that enhancements would be added in future releases including ones related to “safety, resiliency and innovation.” Matt Stoller, director of research at the American Economic Liberties Project, welcomed FedNow as a better alternative to currently used payment systems. “The administration needs to push the Fed to get FedNow working ASAP. It’s just ridiculous the U.S. payments system is so corrupt and expensive, versus the fast and efficient systems of almost everywhere else,” he wrote in a tweet. Payment systems used in the United States face criticism for lack of interoperability, high transactions fees, and slow processing times, which in some cases can take several days. Rina Wulfing, policy and campaign manager for London-based cross-border payments company Wise, said that a shortcoming of the FedNow system is that it doesn’t include nonbanks and cross-border payments. “Unfortunately, the current framework does not address the other most pressing issues in the U.S. payments system,” Wulfing wrote in a recent op-ed. “By not including nonbanks and cross-border payments, FedNow puts itself at risk for success and doesn’t take into account the needs of U.S. consumers. ” CDBC Controversy Controversy has surrounded the adoption of CBDCs, with House Republicans warning of the risk that they could amount to an “authoritarian-style” and “surveillance-style” digital dollar. House Republicans recently introduced the CBDC Anti-Surveillance State Act that would restrict the “unelected bureaucrats” from establishing and issuing a CBDC that they say would threaten the financial privacy of the American people. “Any digital version of the dollar must uphold our American values of privacy, individual sovereignty, and free-market competitiveness,” said House Majority Whip Tom Emmer (R-Minn.) in a statement. “Anything less opens the door to the development of a dangerous surveillance tool.” Rep. Warren Davidson (R-Ohio) argued that the Fed must concentrate on its dual mandate—price stability and maximum employment—instead of “eradicating financial autonomy.” “A retail CBDC would essentially allow the government to mediate all transactions, which would mirror what we see in China. It’s vital to ensure this does not happen here,” Davidson said in a statement.
You are fucked if you don't fight against CBDC's... The Tyrants Are Passing State Laws To Push CBDCs https://tomrenz.substack.com/p/the-tyrants-are-passing-state-laws https://sdfreedomcaucus.com/freedom-caucus-warns-against-central-bank-digita... https://www.federalreserve.gov/publications/files/money-and-payments-2022012... https://higherlogicdownload.s3-external-1.amazonaws.com/UNIFORMLAWS/74379be5-a72e-d4ff-70cc-1815d1499cb5_file.pdf?AWSAccessKeyId=AKIAVRDO7IEREB57R7MT&Expires=1678854348&Signature=hu9CvOfE5HO7o35UG3Y2%2FtEBOuE%3D https://www.uniformlaws.org/committees/community-home?communitykey=1457c422-.... https://uniformlaws.zoom.us/rec/play/L2FcWiTGtDG96-E6fbfR20JVBeUbl45l1k1q0Qs7HT26L6s-eUxcs5dopf8JsxYcQ50bnPuQAKw0_fiJ.9oXByh1yoLjDSLNZ?continueMode=true&_x_zm_rtaid=sbUPWW7eRPilTj3gVfj69A.1677760189548.e7f5c034e9b9cc4ae4711ad8e581d51e&_x_zm_rhtaid=721 Let me open this by apologizing. This article is going to get into the weeds a bit and it is less than exciting. That said, stick with me until the end and I’ll give you a solution you can fight for. For those that are living under a rock (or that have more interesting things to do than follow monetary policy) CBDC stands for Central Bank Digital Currency and it, along with gene therapy jabs, stands as the greatest threat to freedom on the planet. Digital currency is completely trackable and completely controllable. This means that the government and any corporation with the proper access will be able to know exactly how you spend every digital penny of your money. It also means that the government (or possibly global governments or global corporations) would have the ability to control what you spend your money on. Spend too much on gas they take some of your money for emitting too many greenhouse gases. Want to buy a gun… forget it. If you think this sounds terrible you are not alone, nearly no one wants this. That means it is quite literally politically impossible to legislate CBDC into existence at the moment. Despite that, the control available to the many tyrants at the WEF, CCP, etc. is too tempting to resist so they are doing everything possible to leverage their control over the crooks like Biden and the many ignorant elected officials in our government to make it a reality. So, the question is, how are they doing it? If COVID taught us anything it was that an emergency, real or faked, facilitates a lot of things that would never happen otherwise. The tyrants know this and are in the process of creating financial emergencies that will allow them to argue that there is no alternative but to implement CBDCs. The Biden Administration is implementing policy after policy that devalues the American dollar by limiting Americas ability to mine its own resources or produce its own goods while printing endless money. This will (or more likely is) facilitate an economic collapse. Meanwhile, WEF/CCP partner groups like Black Rock and Vanguard are leveraging their positions as major stakeholders in small and midsized banks to force the banks to accept terrible ESG and other risky investments that will, when combined with the inflation/devalued dollar and scarce resources, result in their collapse. This is an obvious thing to anyone that truly understands the inner-workings of banking (I ran a credit union for a number of years, was a compliance expert, and was involved in a number of national-level groups/projects). Along with the effort to collapse the dollar and our banking system, the tyrants are also pushing legislation that can allow CBDCs to exist legally and without competition. This is being done in a VERY sneaky way because of the massive political opposition to anything CBDC-related. At this point, the major focus is on passing state-level legislation - particularly in a number of key RED states. Bills are being pushed that appear innocuous but are written to create a check-mate situation when CBDCs come into play. That way these red states won’t be able to oppose it. When it comes to who is behind the push to sneak CBDC legislation on the state level we need look no further than the Uniform Law Commission (the “ULC”… stinking lawyers). Here’s a link you can follow to see where this crew is pushing state law. The response from many lawmakers when people are questioning these bills is that it is conspiracy theory to suggest these UCC bills will facilitate CBDC. Here is a link to one of the authors of the bills telling you it is about CBDC (fast forward to about 46 or 47 minutes in); you should save a copy of this video quickly - I’m guessing it will disappear soon. You can find additional information here from the South Dakota Freedom Caucus (they did great work shining light on the bill Kristi Noem just vetoed - saving South Dakota). The ULC is promoting bills that would change the UCC (Uniform Commercial Code) to ensure that states have state law that is prepared to deal with CBDC. These same bills would also ban any current forms of crypto like Bitcoin as a competitor for CBDC. These UCC changes reflect the state law changes to meet the goals laid out by the Fed (here’s an overview) and are fully laid out in this fun document. Bills promoting these changes are pushing through hard red state such as Missouri (HB1165), Oklahoma (HB2776), Texas (SB2075), and Tennessee (SB479/HB640). They are also in a ton of other states and need to be stopped in all of them. Let’s take an example from HB1165 in Missouri. I had the pleasure of reading this 103 page bill and can tell you it was physically painful to go through (which is why none of the elected officials will read it - they will just vote based on what the lobbyists or party leadership says). Understand that this is intentional. These CBDC bills are frequently being handed to Republican legislators who are told by leadership to file the bills. Because the bills are so complex and lengthy, most elected officials will not actually read them. Within HB1165 (not to be confused with HB1169 which requires informed consent and which I support – despite RINO opposition), there are a quite a few changes to Missouri law. These important changes were quite expertly crafted to facilitate CBDC without actually talking about it so Republicans could be fooled into filing the bills even if they did read it. A great example is this new definition of “money” found on page 5: “‘Money’ means a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.” This language means that existing crypto currencies would not be eligible to be considered “money” by banks… a great way to make sure there will be no private competition for CBDC. All this leads to the question, so what do we do? The easiest solution is to get a large number of grassroots to promote an amendment that bans CBDC in your state. If you think this is a conspiracy theory or your elected officials tell you it is simply ask him/her to amend their bill to include the following language and see what kind of response they get from the lobbyists or you get from the official: Nothing in this bill shall be construed to legalize, authorize, or recognize any sort of digital currency as money in Missouri. All banking and financial institutions in Missouri shall be required to recognize at least one physical currency as “money”. This physical currency must be treated as the primary form of money in the state and valued to ensure it is the preferred form of trade within the state. No bank or financial institution shall penalize anyone for the use of physical money in Missouri nor shall they provide any incentives for the use of any digital currency. Physical and digital money must be taxed at equal rates. Missouri recognizes the importance of the Fourth Amendment of the Bill of Rights and prohibits any currency from being recognized as “money” that can be tracked without knowledge of that tracking and without being able to identify who is responsible for such tracking by the owner of the money. Digital currency may be recognized as money in the state of Missouri only if it can be verified as impossible to track without a warrant by a minimum of three an independent experts. a. Independent Expert means, for purposes of this section, an individual with the requisite expertise to evaluate the proposed money to meet the requirements of this section. Courts should construe this clause strongly in favor of ensuring high levels of expertise and independence. No currency shall be recognized or accepted as money in Missouri if that currency could possibly be controlled in any way remotely. For purposes of this section, controlled includes who or how this currency can be shared with or spent in any way. This prohibition on the control of currency would preserve the Fourth Amendment and should be construed broadly. If any other statutes conflict with anything in this section this section controls. If any part of this section is determined to be unconstitutional or conflicting with any other controlling law the rest of this section shall continue to be in force. While stronger language could be used (and this should be modified for any given state), none of this language would cause a problem unless the real reason for the bill is to promote CBDCs so no one pushing the Republicans to sponsor these bills should object. If they do, that should be all you need to know. The war on freedom is expanding and we have to stop CBDC, call your state legislature and say hell no to these banking laws that they are pushing. I can’t stress enough how critical this issue is, CBDC means game over! Between that and the COVID vaccines, all they have to do is whip up a new pandemic (they already have them created), and we lose everything.
I reviewed some of this thread hoping to become somewhat informed. It is too much material for me to distill what is relevant and true. Whether CBDCs are good or bad depends entirely on their properties of implementation. What are the proposals? What would be better?
DeSantis is trying to bigstage Ramaswamy out of his anti-CBDC position. However the crypto world knows Vivek has been making rounds and sharing affinities in the pro crypto space since at least last year. Vivek's appearances on the big crypto podcasts are easily searchable. Vivek throws down hard lines against CBDC's and quivering candidates... https://twitter.com/glennbeck/status/1637607383672266752 Vivek Anti-CBDC Vivek Ramaswamy
You are fucked if you don't fight against CBDC's...
Wake the fuck up and fight back... Balaji @balajis They are trying to block the exits before the digital devaluation of the dollar. Eleanor Terrett @EleanorTerrett 🚨NEW: Industry sources abroad tell me that @GaryGensler & Co. have been lobbying their UK and Canadian counterparts to pinch the #crypto industry in the same way as the U.S. @TheFCA, which regulates financial services firms and markets in the UK, is preparing an announcement
You are fucked if you don't fight against CBDC's... Wake the fuck up and fight back...
The number of countries announcing and racing to CBDC is growing extremely rapidly. You and everyone you care about are going to get totally fucked if you don't fully reject and fight back against CBDC's. https://watcher.guru/news/bank-of-japan-says-cbdc-needs-to-be-ready-to-offer...
Various entities and dark agents have initiated a global war against Human Freedom via CBDC's, Digital Fiat, Corporate Shitcoins, RESTRICT's, War On Cash, War On Crypto, Psyops, Regulation, and soon much worse in the form of "National Security" and "Financial Emergency" Laws passed by Politicians and their GovBank 1984 total control cabals. The IMF has just launched its Universal Coin. These must all be recognized as coordinated, and deadly serious. The growing body of quotes from Politicians, Elites, Banksters, WEF types, and the rest, are undeniable as to their diabolical global CBDC plans for you. Total Central Control and Authority. They have initiated this aggression, power, control, spyveillance, and final freedom grab against you and all humanity. They are out to Fuck You, Freedom, and Humanity, Forever. Your life depends on money, they intend to control it, all of it, and you, in every way imaginable. Any dissent will result in shutdown of your ability to transact. You must fight back and destroy them, now. There are no other options. https://www.atlanticcouncil.org/cbdctracker/ https://cbdcwatch.substack.com/ https://twitter.com/NoCBDC
Various entities and dark agents have initiated a global war against Human Freedom via CBDC's, Digital Fiat, Corporate Shitcoins ... Your life depends on money, they intend to control it, all of it, and you, in every way imaginable. Any dissent will result in shutdown of your ability to transact.
You must fight back and destroy them, now. There are no other options.
https://www.atlanticcouncil.org/cbdctracker/ https://cbdcwatch.substack.com/ https://twitter.com/NoCBDC
https://twitter.com/KanekoaTheGreat/status/1647752311564034048 KanekoaTheGreat @KanekoaTheGreat Whitney Webb and Jimmy Dore warn that central bank digital currencies will be used to monitor all financial transactions and control how people can spend their money: "The vast majority of every country in the world is developing some type of CBDC and the central bankers have… [video in tweet] https://bitcoinmagazine.com/culture/the-war-on-dissent https://twitter.com/_whitneywebb Writer & researcher for unlimitedhangout.com, contributor to @TLAVagabond, author of a new, two-volume book - One Nation Under Blackmail. linktr.ee/whitneywebb https://twitter.com/natbrunell/status/1645446584983797761 To win you must destroy all the systems they are plotting against you, and the greatest tool you have is immediate crypto adoption.
https://twitter.com/w_s_bitcoin/status/1656699604346322957 Andreas Antonopoulos on the CBDC Nightmare
https://v.redd.it/bal7ovs4v50b1 Klaus Schwab says fuck your privacy, we're invading.
India removes and censors its biggest physical paper bill from circulation, the $25 note, in preparation to force fully tracked and censored and worse CBDC upon its people. You have been warned, many times. You have seen these precursors to CBDC happening in your own country. Yet you still refuse to rise up against it. Please don't be so fucking stupid anymore. https://www.reuters.com/markets/currencies/indian-rupee-poised-weaken-after-... Authorities continue to crack down on cash and private transactions globally. India removing the highest-denomination 2000 rupee note from circulation, despite it being worth less than $25 USD. Indian rupee poised to weaken after central bank pulls 2,000-rupee notes The Indian rupee is expected to open weaker against the U.S. dollar after the central bank said it will withdraw the highest value currency note from circulation. isn't #money supposed to be a "unit of account?" if so, why have the US's accounting units gone from $140 billion in 1959 to $20 trillion today? because someone is changing the rules and the measuring stick a little on its users every year. not if you own #bitcoin
Brace for "Dependence Day" as FedNow CBDC launches in July Prepare yourselves for an impending "Dependence Day" as the launch of FedNow Central Bank Digital Currency (CBDC) looms on the horizon this July. While it may appear as a step towards financial independence at first glance, we must confront the potential repercussions lurking beneath the surface. Rather than celebrating true "Independence Day," the introduction of a CBDC raises alarming questions about privacy, financial autonomy, and the consolidation of power within centralized entities. It is imperative that we delve into these concerns and collectively examine the potential ramifications of this upcoming digital currency. All too often, what they claim to be for internal-only non-user-facing usage, ends up being enhanced and forced out upon end-users later. If it looks anything like a currency or currency infrastructure, it or some CBDC like it will be rolled out larger eventually. "CBDC = government spying on us" "This is the point that needs to be hammered home every time this topic comes up. With a CBDC there is no more privacy, the government will be able to see every transaction you make. Not only that they will be able to freeze/seize your assets much easier than they can now." "With CBDC, they will also be able control what you can or cannot buy with the currency. It will give them 100% control of everything. We need to fight it at every turn!"
"Biden Bucks" And The War On Crypto Authored by James Rickards via DailyReckoning.com, I’ve written a lot about central bank digital currencies (CBDCs) including the U.S. dollar version that I call “Biden Bucks.” The threat from CBDCs is enormous. They are digital (but not true cryptocurrencies), which means they are programmable. The Treasury and Fed can use the CBDC ledger to track your purchases, look at your political contributions, look at your religious affiliations and basically profile you as an enemy of the state or “ultra MAGA.” Your “Biden Bucks” could be made to stop working at the gas pump once you’ve purchased a certain amount of gasoline in a week. How’s that for control? And in a world of “Biden Bucks,” the government will even know your physical whereabouts at the point of purchase. But it gets even worse… CBDC + AI = Nightmare This profiling can be combined with artificial intelligence (AI) and generative pretrained transformer platforms (GPT) to practically read your mind.
From there, the government can freeze your bank accounts, impose taxes and penalties and put you on a “use it or lose it” fiscal policy stimulus plan that forces you to spend your money within 30 days or have it partially confiscated.
If any of this sounds extreme, fantastical or otherwise far-fetched, it’s not. It’s already happening around the world. China is already using its CBDC to deny travel and educational opportunities to political dissidents. Canada seized the bank accounts and crypto accounts of nonviolent trucker protesters last winter. These kinds of “social credit” systems and political suppression will be even easier to conduct when “Biden Bucks” are completely rolled out in the U.S. The Associated Press actually tried to fact-check me, saying that my claims are false, that the digital dollar has nothing to do with social control. The whole project is completely innocent and you can trust the government. But even the general manager of the Bank for International Settlements, which is known as the “central bank of central banks,” has admitted that CBDCs would give central banks “absolute control” of everyone’s money — and the “technology to enforce that.” Even The Economist has announced the rise of government-backed digital currencies, warning they will “shift power from individuals to the state.” Let’s just say The Economist isn’t known for engaging in conspiracy theories. No Competition Allowed And this is central to the CBDC plan: As the CBDC dollar is being implemented, it’s important for the government to take away your alternatives. The three main alternatives are physical cash, gold and cryptocurrencies. Cash is under attack through multiple channels including “no cash accepted” signs at public events, anti-money laundering rules and simple inflation that might allow you to hold cash, but it won’t be worth very much. (In 1969, the U.S. abolished the $500 bill, leaving the $100 bill as the highest denomination. The $100 bill of 1969 is only worth $12 in today’s purchasing power because of inflation. Give it time and it won’t be worth much more than a $5 bill.) And cryptocurrencies are also under full-scale attack. The U.S. Securities and Exchange Commission (SEC) has sued Binance, the world’s biggest cryptocurrency exchange, and its founder Changpeng Zhao, alleging they operated a “web of deception.” Among the 13 other counts in the lawsuit are allegations that Binance inflated trading volumes, mishandled customer funds and misled investors about market-surveillance controls. Just one day later, the SEC also sued the Coinbase crypto exchange for failure to register as an exchange under U.S. law. During the wave of bank failures in early March, the FDIC closed Signature Bank, which operated a cryptocurrency portal called Signet in addition to normal banking activities. That came days after the failure of Silvergate Bank, which also bridged the normal banking world to the world of crypto. None of this is random. Governments Never Wanted to Kill the Blockchain — Just to Control It The U.S. has opened a full-scale war on crypto. Silvergate, Signature, Binance and Coinbase are just the first victims. They won’t be the last. Crypto has to go if CBDCs are going to be fully implemented. Many advocates of Bitcoin and other cryptocurrencies have shared a naïve belief that their digital assets are “beyond the reach of governments,” “cannot be traced” and “cannot be frozen or seized.” They’ve learned otherwise. Blockchain does not exist in the ether (despite the name of one cryptocurrency) and it does not reside on Mars. Blockchain depends on critical infrastructure including servers, telecommunications networks, the banking system and the power grid, all of which are subject to government control. As I’ve argued for years, governments don’t want to kill the blockchain upon which cryptos are based. They want to control it. The fact is governments enjoy a monopoly on money creation and they’re not about to surrender that monopoly to cryptocurrencies. But governments know they cannot stop the technology platforms on which the cryptocurrencies are based. Blockchain technology has come too far to turn back. That’s why they’re co-opting it. What Happens if CBDCS Get Hacked? Here’s one issue with Biden Bucks that hasn’t been adequately addressed: How can you trust them to keep your money secure once you are forced to convert it to a traceable digital currency? Hackers routinely target crypto architecture and steal money. What happens if that digital currency gets hacked? This is from a 2022 Federal Reserve paper: Threats to existing payment services — including operational disruptions and cybersecurity risks — would apply to a CBDC as well. Any dedicated infrastructure for a CBDC would need to be extremely resilient to such threats, and the operators of the CBDC infrastructure would need to remain vigilant as bad actors employ ever more sophisticated methods and tactics. Designing appropriate defenses for CBDC could be particularly difficult because a CBDC network could potentially have more entry points than existing payment services. This part is truly terrifying. To repeat: Designing appropriate defenses for CBDC could be particularly difficult because a CBDC network could potentially have more entry points than existing payment services. If bad actors can already hack crypto platforms with ease, what’s to stop them from hacking a CBDC network with more entry points? You might not be able to fight back easily in the world of “Biden Bucks,” but there is one nondigital, nonhackable, nontraceable form of money you can still get your hands on. It’s called gold. Get some before it’s too late.
Nigeria limited citizens cash withdrawals to try and force adoption of their central bank digital currency, the eNaira. https://www.coindesk.com/policy/2023/02/24/why-nigerians-arent-turning-to-th... Thankfully Nigerians protested and eNaira adoption still remains low. GovBankCorp and Globalists are trying extremely hard and with treachery to force certain countries to be the first false flag bogus adopter exemplar of CBDC so they can point to it as unfallible advertising to roll it out globally. Do NOT EVER accept ANY CBDC. GovBankCorp Fiat has been weaponized against you, the proof is all over even mainstream news channels. Your freedom now literally depends on development and use of non-GovBankCorp distributed private p2p crypto cash, gold, and loud political fight back.
" What is going on? It might have something to do with those CBDCs. slowly but surely dismantle existing crypto adoption build your own financial network with total control over the source code and physical infrastructure There's an interactive map on this website showing the progress of various CBDC projects across the world: https://www.atlanticcouncil.org/cbdctracker/ 114 countries, representing over 95 percent of global GDP, are exploring a CBDC. Quite frankly, the outlook for humanity does not look good. "
The IMF, and all CBDC's, and all "stablecoins", are nothing but total GovBankCorp fiat garbage, stay the fuck away. Here IMF worships Zuckerberg Facebook Diem, and it went to zero taking all investors with it, exactly like every single last one of them should, must, and will. "The IMF has released a paper stating that a universally-accepted central bank digital currency (CBDC) could transform the global payments and financial system. The paper highlights emerging trends in CBDC development and suggests that a universal digital currency could benefit governments and consumers alike. The paper also points to Facebook's Diem stablecoin as a private attempt to create a global stablecoin (GSC) backed by a basket of fiat assets. The IMF analysts say that new technologies could have a major impact on the structure and movement of reserve currencies at large."
"When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it, and a moral code that glorifies it. -- Frederic Bastiat" Here are two of the biggest sworn enemies to Human Freedom... You don't need them, or any other Govs Banks Pols either, so STOP following, glorifying, and supporting them all! IMF Unveils Revolutionary Cross-Border Payment System for CBDC https://azcoinnews.com/imf-unveils-revolutionary-cross-border-payment-system... United Kingdom’s House Of Lords Passes Landmark Crypto Regulation Bill https://azcoinnews.com/united-kingdoms-house-of-lords-passes-landmark-crypto...
Voters Hate CBDCs. Why Do Governments Keep Pushing Them? Mises Institute @mises @profstonge https://twitter.com/mises/status/1670813954396790784 https://mises.org/wire/voters-hate-cbdcs-why-do-governments-keep-pushing-the... Why do governments keep pushing CBDCs when voters hate them? Simple: CBDCs are irresistible to governments, who would dearly love to monitor and control every dollar you spend and every word you speak. https://mises.org/profile/peter-st-onge https://stonge.substack.com/ Voters Hate CBDCs. Why Do Governments Keep Pushing Them? Governments worldwide are trying to replace cash with CBDCs, and people worldwide are starting to wake up, but we need a lot more. A CBDC is a government-run crypto-token that replaces the national currency with a tracking ledger—a list of who owns what—that lets government surveil, control, and mandate every dollar you spend. They could prevent you from buying the wrong thing, whether raw milk or gas stoves, or self-defense. They could stop you from donating to the wrong person, as we saw with the Canadian Truckers. They could even force you to buy whatever a government bureaucrat tells you to. On top of the Soviet-style surveillance state, a CBDC is an existential threat to the banking system, to the US dollar and would give central planners push-button control over every element of your life. Popular Pushback against CBDCs Last week, the right-leaning Austrian Freedom Party lodged a protest against the current left-wing government ignoring a referendum on the right to use cash after an overwhelming 530,000 Austrians signed a referendum petition. With CBDCs being pushed worldwide in the face of widespread public opposition, I think we’ll see more clashes over protecting the people’s right to save, and to spend, anonymously with cash—something we’ve had for a long time and taken for granted but now under threat of being seized into a CBDC, a giant balance sheet the government can surveil and manipulate at will, turning your money into an allowance. In fact, a recent poll found that Americans overwhelmingly reject a CBDC, and opposition rises as they learn more about it. For example, opposition doubles when people learn a CBDC can be used to freeze the bank accounts of political protestors, it rises to even more when they learn a CBDC allows governments to monitor your spending, and it rises to 74% when they learn a CBDC lets government control your spending. Cholera polls better. So why do governments keep pushing CBDCs when voters hate them? Simple: CBDCs are irresistible to governments who would dearly love to monitor and control every dollar you spend and every word you speak—think of the opportunities for social engineering, reparations, or a China-style social credit system. Meanwhile, punishing political opponents with a CBDC means controlling speech. This means permanent job security for politicians who serve the deep state first with the people as an afterthought. How Governments Use “Pilots” to Build CBDCs The easiest to stop a CBDC is, of course, to make sure your government doesn’t start one. Unfortunately, central banks worldwide—8, at last count, starting with China—are running CBDC "pilots," allegedly for research, that build fully-functioning CBDCs without authorization. These should be stopped for the same reason governments shouldn't be "piloting," say, tools to mass-censor political speech. The people control the government, not the other way around, and we tell them what they're allowed to "pilot.” [40]bb72b309-3c26-4afc-9c57-f45d88897c87_1110x663.jpg [41]bb72b309-3c26-4afc-9c57-f45d88897c87_1110x663.jpg By the way, central banks can run these pilots without authorization because they're self-funding—they print their own budgets with their basement money printers. Meaning in many countries, central banks do what they like, free of the power of the purse that controls most of government. In fact, many central banks, including the Fed, are largely exempt from Freedom of Information requirements where the government has to tell the people what it's up to. As Murray Rothbard put it, the Fed has less Congressional oversight—meaning less voter oversight—than the CIA. This means central banks will do what they like until Congress very specifically tells them not to do it—I mean spelled out like central bankers are five-year-olds, including blanket CBDC bans even when they try to sneak one in by running it through banks or contractors. CBDC pushers are building them using central bank machinery that's immune to voters. It's up to us to make our representatives stop them before we're locked in a digital cage that none of us voted for. Next Step after Pilots: Forcing People to Use the CBDC Worldwide, so far there have been two major implementations of a CBDC. The first was China, which has never met a totalitarian technology it doesn't love. The second was Nigeria. In 2021 the Nigerian government pushed out its CBDC, the eNaira. Almost nobody used it—uptake was about 0.5%, pretty rough in a population that is among the most crypto-savvy in the world: over a third of Nigerians own Bitcoin, and over half use crypto. So it's not the technology, Nigerians just really hate CBDCs. Given this pathetic showing, the Nigerian government turned to hardball. First, they mandated discounts for paying in CBDC, then redesigned the physical currency to flush out informal cash. Finally, they went nuclear, limiting cash withdrawals from ATMs to $40 per day to force people into the CBDC and achieve a "100% cashless economy." Now, the informal cash-based economy in Nigeria is an enormous share of output. It's life or death for Nigeria's 200 million people because it's the only part outside government control, so it's also the only part of Nigeria's economy that actually works. Meaning, of course, that the cash limits led to complete chaos. People couldn't buy groceries, stores couldn't stock shelves, gas stations ran out of fuel in the largest oil-producing country in Africa. Nigeria was rocked by widespread riots, including burning down banks and even central bank branches. By the way, the American-backed contractor who built Nigeria's CBDC, asked about the cash limits and the riots they caused, praised the restrictions as a "creative option" that he expects to happen in other countries that impose CBDCs. Making Nigeria a cautionary tale. What’s Next As much as people worldwide hate CBDCs, governments worldwide love them: Between the totalitarian surveillance and control, and the godlike central planning of a CBDC, they will not stop until voters make them stop. Some Republicans have been proactive on the CBDC threat: Senator Mike Lee has introduced a Senate bill to ban all forms of CBDCs, while governors like Ron DeSantis have moved to ban CBDCs in his state of Florida. As for other countries, most voters still don’t grasp the threat CBDCs represent to their financial freedom and human rights even as rogue “pilots” spread like mushrooms. Time is running out to stop them. [Originally published [42]stonge.substack.com.] Author: [43]Peter St. Onge Peter St. Onge is a Mises Institute Associated Scholar and an Economic Research Fellow at the Heritage Foundation. For more content from Dr. St. Onge, subscribe to his newsletter where he writes about [44]Austrian economics and cryptocurrency.
Stop worshipping Government and wake the fuck up, it's 1984, you're getting fucked in the ass... The Reset: When Will Globalists Attempt To Introduce Their Digital Currency System? https://alt-market.us/the-reset-when-will-globalists-attempt-to-introduce-th... https://www.youtube.com/watch?v=g4UaeWO_V6A https://www.youtube.com/watch?v=9Kmbsa19T1k https://www.forbes.com/sites/worldeconomicforum/2016/11/10/shopping-i-cant-r... https://www.weforum.org/open-forum/event_sessions/a-social-contract-to-trans... https://sdgs.un.org/2030agenda https://www.bitdegree.org/crypto/news/australia-completes-its-first-foreign-... https://www.cnbc.com/2022/10/06/as-more-people-go-cashless-heres-how-much-mo... https://finance.yahoo.com/news/digital-currency-monetary-authority-dcma-1244... Authored by Brandon Smith via Alt-Market.us, I want you to imagine, for a moment, a future world in which everything we now know about functioning and surviving within the economy is completely upended. This world has gone fully digital, meaning people live within a cashless society where physical monetary interactions are abandoned or prohibited, replaced by CBDCs. All transactions are tracked and traced, nothing is private any longer unless you are operating as a criminal within a black market. By extension, production is overtly suppressed and micromanaged. Small businesses are a thing of the past, and only a select group of major corporations working directly with government are allowed to operate. It’s not just that cash is outlawed and that everyone must rely on a digital ledger, the very data pathways and networks that we use to transfer funds are also controlled. Much like the SWIFT data network, the globalists have the ability to lock down internet payments, individual accounts and business accounts and deny people the ability to move funds from one place to another. In the meantime, AI-based monitoring systems sift through millions of transactions every minute, searching for “anomalies.” The algorithm is designed to identify anyone who has found a way around the data tracking – People who want to remain anonymous. The internet still exists, but it’s a shell of its former glory. The population uses it regularly to complete necessary tasks and to research information, but data providers are severely restricted. Cryptocurrencies are not an option as an alternative to the CBDCs because trading them online immediately sets off red flags for the AI-in-the-sky. Only government approved websites are allowed to exist, with extensive rules limiting what they can do and what they can say. AI chatbots provide the public with most of their information, and the globalists control the parameters of the chatbots. People only ever hear the news that the elites want them to hear. All contrary data is eliminated. It’s not so much banned, rather, it is simply omitted from the record until the people who remember it are long gone. It might sound like science fiction, but ALL of this technology already exists and is currently being tested by globalist institutions including the Bank for International Settlements and the IMF. Not long ago during the covid pandemic scare, organizations like the World Economic Forum began widely promoting a concept called the “Great Reset.” It was an agenda sometimes whispered about in banker conferences as far back as 15 years ago, but now the Reset was being promoted openly in the media and at Davos. It’s a new economic paradigm, a revolution in which AI runs everything, humanity is relegated to a limited number of vital jobs, and a new brand of technological socialism rules our lives. Private property would be cast aside and the populace would live day-to-day within a “shared economy” in which no one owns anything and everything is borrowed from the collective system. The Reset, or the 4th Industrial Revolution as they sometimes call it, would be the start of a new terrifying age of feudalism. It’s a return to the oligarch and peasant model, a return to enslavement. The average person would only be allowed to work as a means to survive, never to accumulate wealth for the future. And each peasant’s survival would be utterly dependent on their access to the system, which could be taken away with the push of a button. The primary stepping stone to this dystopian nightmare would be a global digital currency system. Without a cashless society, the globalists would have no power to enforce the other elements of their Reset. But when and how will they implement this monstrosity, and why would anyone embrace it? Globalists tend to operate in stages of incrementalism, but sometimes they exploit dramatic crisis events in order to frighten the population into compliance with policies that would have taken decades to institute otherwise. We saw this clearly with the pandemic; most of the Reset concepts were revealed to the public during this time, perhaps because the globalists thought they had it in the bag and there was nothing anyone could do to stop them. This even included consistent talk of cashless systems to “prevent the spread of covid on physical dollars.” But, covid with its tiny Infection Fatality Rate failed to frighten people enough and the opportunity fell apart. Today, the question is when will they try again? Most globalist organizations consistently mention the year 2030 as their timeline for finishing the numerous projects they have in place, including the “Great Reset” along with multiple climate and carbon taxation goals. The WEF calls it “a social contract to transform our world by 2030.” The UN simply calls it “Agenda 2030.” This means the establishment wants to have their control grid in place within seven years or less. That would be impossible without a bone rattling crisis of epic proportions, but first they would have to introduce a number of future mechanisms as a trial run. That way, when disaster does occur the public will be acclimated to the solutions that the elites will ask them to adopt later. In the case of digital currencies, crypto has already received wide exposure in popular media. Most people don’t own crypto and hardly anyone uses it, but they have all heard of it. CBDCs will likely ride the crypto wave and will be presented as a “safer and more stable” crypto option. For now, Australia seems to be the primary guinea pig for fielding CBDCs to a large western population. Their pilot programs are set to finish this summer and international transactions have been accomplished using the eAUD unit. Though, they have not revealed when they might introduce the currency to Forex markets or the citizenry. The point is, the system exists, and can be copied and adopted by any other nations. At bottom, globalists know that countries like America will not accept a fully cashless system without a complete collapse of their existing currency and economy. It’s just not going to happen otherwise, and I have doubts that many Americans will accept such a system even after a collapse. The majority of Americans, 59%, say they like to have cash with them for various purchases. Though western consumers make payments more often with bank cards, they still enjoy having physical money when they want it. The implications of intricate digital surveillance of every single purchase and transfer of funds is not lost on a large portion of the population. People know that if they give the government a telescope into their wallets eventually that information will be used against them. Take away the option of anonymity and millions of people will resist, even if they have nothing in particular to hide. Conversion to a cashless system would require calamity and force, a full spectrum crisis throughout the US and much of the western world in the next few years, along with another few years or more of reconstruction to bring in CBDC mechanisms. Small businesses would have to be removed from the picture, leaving only major corporations which could then refuse to accept cash as a means of payment from consumers. This would be one method of expediting the cashless system, along with outright government confiscation of physical paper. That said, there is another rather blunt way to push Americans into CBDCs that the globalists seem to be expediting – The death of the dollar’s world reserve currency status. Only five years ago skeptics argued that the dollar would be king for many decades to come. Today, those same people are eerily quiet as the IMF announces their own global CBDC called the “UMU” and BRICs nations quickly move away from the Greenback in bilateral trade. If the US dollar loses a majority of its buying power through inflation and the loss of reserve status, it may be easier to convince the populace to abandon it for a digital replacement. If we take the globalist timeline of 2030 as an effective limiter, this would mean another crisis even more pervasive than the covid pandemic would have to take place soon in order for the elites to get what they want. The longer they wait, the more people become educated on their agenda and the less likely it will be to succeed. If you would like to support the work that Alt-Market does while also receiving content on advanced tactics for defeating the globalist agenda, subscribe to our exclusive newsletter The Wild Bunch Dispatch. Learn more about it HERE
Beware, IMF plots to twist its faux capitulation into CBDC articulation scheme... Banning crypto ‘may not be effective in the long run’ — IMF The International Monetary Fund (IMF) has reiterated its calls for crypto regulation across certain countries but said an outright ban may not be the best approach. In a June 22 report on Latin America and the Caribbean, the IMF pointed to various approaches taken by local governments in addressing the adoption of cryptocurrencies and central bank digital currencies, or CBDCs. Bitcoin (BTC) has been accepted as legal tender in El Salvador since September 2021, while the Bahamas was the first country to launch its own CBDC, the Sand Dollar, in October 2020. The IMF said Brazil, Argentina, Colombia and Ecuador — whose governments’ regulation of crypto was “in progress” — ranked among the highest countries in the world for the adoption of digital assets in an effort to help the unbanked, send faster and cheaper payments, and more. In addition, according to the fund, most central banks in the region “have or are considering adopting digital currencies.” Related: IMF envisions ‘new class’ of cross-border payment platform with single ledger “If well designed, CBDCs can strengthen the usability, resilience, and efficiency of payment systems and increase financial inclusion in [Latin America and the Caribbean],” said the IMF. “While a few countries have completely banned crypto assets given their risks, this approach may not be effective in the long run. The region should instead focus on addressing the drivers of crypto demand, including citizens’ unmet digital payment needs, and on improving transparency, by recording crypto asset transactions in national statistics.” The IMF has often made public statements in opposition to countries adopting cryptocurrencies as legal tender. On June 19, its director of the monetary and capital markets department, Tobias Adrian, proposed a payment system that used one ledger to record CBDC transactions — an idea that received harsh criticism from many in the crypto space.
Every test you allow takes you one step closer to 1984... News: German software giant SAP is testing cross-border payments using Circle $USDC.
Study shows 130 countries exploring central bank digital currencies https://www.reuters.com/markets/currencies/study-shows-130-countries-explori... Atlantic Council CBDC Tracker https://www.atlanticcouncil.org/cbdctracker/ They are fucking you, hard, in the ass... when are you going to wake the fuck up and fight back? They have clearly and publicly stated they want full social control, full censorship, full access control, full monetary control, full Bio-ID, full asset control, full movement control, and full mind control, from fully vaxxed birth to fully medically controlled and forced prolongated death with nothing but spent out dust left of your name which they stole from you via your "birth certificate". If you do not fight back, hard, to the death, right fucking now, you and everyone will be nothing more than a Rat In A Cage... https://www.youtube.com/watch?v=8-r-V0uK4u0 You = Caged Rat [–]New_Sale890 6 points7 points8 points 3 hours ago (6 children) we're headed towards a world of digital currencies permalink embed save report give award reply [–]kirtash93The Ash Ketchum of Crypto | Gotta Catch 'Em All 0 points1 point2 points 2 hours ago (1 child) we're headed towards a world of digital currencies shitcoins. Now it is correct. permalink embed save parent report give award reply [–]branddz 0 points1 point2 points 43 minutes ago (0 children) DOGE; Dumbest Online Gambling Experience permalink embed save parent report give award reply [–]ice_blade_sorc 0 points1 point2 points 2 hours ago (1 child) it's not the digital currencies we want though permalink embed save parent report give award reply [–]Cyclonis123Tin 0 points1 point2 points 1 hour ago (0 children) The bullish case was Bitcoin et al taking over the world, the bearish case was they're all worth nothing. We didn't see the third scenario, govt's adopting blockchain tech and ramming crypto down our throats via their cbdc's. permalink embed save parent report give award reply [–]cashpig000 0 points1 point2 points 2 hours ago (0 children) I often think how will society be in 50 years. Will paper money be completely gone? permalink embed save parent report give award reply [–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 0 points1 point2 points 59 minutes ago (0 children) Governments love control, and CBDCs are a strong control tool. The sad truth is that I can see in the near future social credit systems being implemented in a lot of countries, and that paired with CBDCs is a truly Black Mirror experience. permalink embed save parent report give award reply [–]walterpadick78 3 points4 points5 points 3 hours ago (4 children) Let them. They will fail like the Nigeria CBDC. Only 0.5% of Nigerians used it and the demand for Bitcoin increased so much, it traded at a higher price than any other country. permalink embed save report give award reply [–]BgMalverzacije 0 points1 point2 points 2 hours ago (2 children) I mean, what are actual advantages for customers so they actually use CBDC? I cant for life of me understand their selling point permalink embed save parent report give award reply [–]walterpadick78 1 point2 points3 points 2 hours ago (0 children) CBDCs are probably going to be quicker and more convenient to use than bank transfers or other payment methods, but other than that, I don't see why people would use them. No one trusts central banks anyway. permalink embed save parent report give award reply [–]BeBopRockSteadyLSBronze 0 points1 point2 points 22 minutes ago (0 children) I think the idea is that you don't get a choice. All the upside is for the central bank, not the people permalink embed save parent report give award reply [–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 0 points1 point2 points 58 minutes ago (0 children) The more people know about expiry dates and remote forfeiture, the more the resistance against CBDCs will grow. permalink embed save parent report give award reply [–]scecominorrr 2 points3 points4 points 3 hours ago (2 children) Wow govt's launching their own shitcoins permalink embed save report give award reply [–]GabeSterPlatinum | QC: DOGE 2476, CC 909 | AvatarTrading 18 0 points1 point2 points 3 hours ago (0 children) They don’t need blockchain for their own shitcoin. permalink embed save parent report give award reply [–]BgMalverzacije 0 points1 point2 points 2 hours ago (0 children) Do we have a name for shit stable coins? Im not creative enough for this permalink embed save parent report give award reply [–]Dull-Wear-3286 1 point2 points3 points 3 hours ago (0 children) I hope all of them fails miserably. permalink embed save report give award reply [–]myscienceisbetterTin 1 point2 points3 points 3 hours ago (1 child) CBDCs so hot right now 🔥 permalink embed save report give award reply [–]BgMalverzacije 0 points1 point2 points 2 hours ago (0 children) But its sumer already 😎😅 permalink embed save parent report give award reply [–]coinfeeds-botApproved CC Bot 1 point2 points3 points 3 hours ago (0 children) tldr; A total of 130 countries representing 98% of the global economy are now exploring digital versions of their currencies, with almost half in advanced development, pilot or launch stages, a closely-followed study shows. A total of 130 countries representing 98% of the global economy are now exploring digital versions of their currencies, with almost half in advanced development, pilot or launch stages, a closely-followed study shows. This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. permalink embed save report give award reply [–]tewsbeferneds78 1 point2 points3 points 3 hours ago (1 child) Taking control of crypto through putting their own coins out permalink embed save report give award reply [–]BgMalverzacije 1 point2 points3 points 2 hours ago (0 children) Wouldnt be surprised if they copied code from some other stable. Its crypto right of passage permalink embed save parent report give award reply [–]lordciders 0 points1 point2 points 3 hours ago (0 children) Dead on arrival. They should ask Nigeria's central bank governor. permalink embed save report give award reply [–]zoomercoomer9000 0 points1 point2 points 3 hours ago (1 child) Yup, and the group researching this has developed an interactive map so you can see exactly which stage each country is at. https://www.atlanticcouncil.org/cbdctracker/ permalink embed save report give award reply [–]BeBopRockSteadyLSBronze 0 points1 point2 points 20 minutes ago (0 children) Ah. The Atlantic Council. Now, wouldn't it be interesting to look into their background a little more. permalink embed save parent report give award reply [–]Harold838383 0 points1 point2 points 3 hours ago (0 children) And for this reason I’m glad bitcoin exists permalink embed save report give award reply [–]onemansquestBronze 0 points1 point2 points 3 hours ago (0 children) Time to celebrate guys. Increasing the money supply will be so easy no more physical printing. Inflation will skyrocket and our digital gold will have more purchasing power. permalink embed save report give award reply [–]cashpig000 0 points1 point2 points 3 hours ago (0 children) Yeah, right. I'd rather trust a squirrel with my savings. Crypto all the way. permalink embed save report give award reply [–]ChainsofCastamere 0 points1 point2 points 2 hours ago (0 children) There's only a handful of countries that really have either the technical capability or the political control to pull this off. Most countries can't even print their own money. permalink embed save report give award reply [–]confirmSuspicionsPlatinum | QC: ALGO 127, CC 74 | PCgaming 78 0 points1 point2 points 2 hours ago (0 children) Not good, lads. permalink embed save report give award reply [–]MrDexterX 0 points1 point2 points 2 hours ago (0 children) Hello guys, I just want to say "Fuck CBDCs" Thank you for your patience. permalink embed save report give award reply [–]Pretty_Animal7746 0 points1 point2 points 2 hours ago (0 children) I don’t wht would they make that although notes are there 😐 they jst waste money on these kinds of things if they really wanna do something then do something else permalink embed save report give award reply [–]BlooberinoPlatinum | QC: CC 1344 0 points1 point2 points 2 hours ago (0 children) 130 countries want to rule like tyrants over their serfs. permalink embed save report give award reply [–]Illicitterror 0 points1 point2 points 2 hours ago (0 children) They can try but the voluntary adoption rates are very low. permalink embed save report give award reply [–]ImaFreemasonTin | SHIB 5 0 points1 point2 points 1 hour ago (0 children) Man, we have the Loonie and Toonie. Please don't give our currency any more funny names. permalink embed save report give award reply [–]TB_dolebananaTin 0 points1 point2 points 1 hour ago (0 children) Wont be hard to get the mass populace to adopt if you forgive a % of tax for converting to a CBDC - the sheep will waft up that small gain so fast and then be wondering why they reached they’re allowed carbon credits and have to eat insects instead of beef lol permalink embed save report give award reply [–]Kone7Tin 0 points1 point2 points 43 minutes ago (0 children) Next bull run over the next 2 Yeats should push alot of them over the edge and make them believers
CRICKETS... that's the sound your govt hears re you sitting on your ass refusing to demand to use privacy-enabled p2p crypto while letting them roll their permanent CBDC nightmare out on you. When are you going to demand them to shove their CBDC up their ass? Are central bank digital currencies one of the greatest threats to freedom? https://intellinews.com/nemethy-are-central-bank-digital-currencies-one-of-t... [–]SnooRegrets7399 21 points22 points23 points 1 day ago (25 children) CBDCs could be the trojan horse for total financial surveillance. Yeah, sure, it’s digital currency but minus the freedom and anonymity that makes crypto so appealing. permalink embed save report give award reply [–]Every_Hunt_160Platinum | QC: CC 672 | r/SSB 10 6 points7 points8 points 23 hours ago (5 children) CBDCs are just like the evil twin of crypto permalink embed save parent report give award reply [–]RedBunery -3 points-2 points-1 points 22 hours ago (3 children) Boomers will love this stuff, and before we know it all their money will be tied up in it. Will be like Facebook to them. Damn. permalink embed save parent report give award reply [–]1Tim1_15 -2 points-1 points0 points 11 hours ago (0 children) You think boomers will love CBDCs? It won't be because they're old. It will be because of their ideology. Proof? Have you heard of Cynthia Lummis, or Tom Emmer, or Pat Toomey, or Ron Paul, or Michael Saylor, or Max Keiser, or ... Age has nothing to do with it. It's ideology. permalink embed save parent report give award reply [–]special_onigiri 0 points1 point2 points 13 hours ago (0 children) It's the bastard son of fiat and crypto, it has ALL the bad qualities of both and none of the good ones. permalink embed save parent report give award reply [–]Aggravating_Deal_572Platinum | QC: CC 388, ETH 69, BTC 20 | TraderSubs 55 1 point2 points3 points 15 hours ago (0 children) That’s why cash is King! permalink embed save parent report give award reply [–]Popular_District9072Tin | CRO 9 0 points1 point2 points 22 hours ago (0 children) governments are already spying on us, monitoring every financial transaction would tie the rope even further permalink embed save parent report give award reply [–]3utt5lut 0 points1 point2 points 23 hours ago (15 children) It's just another form of fiat. I don't see them as anything good. You take all of the worst problems from fiat and all the good aspects of crypto (transparency/freedom), and use it against the population in the most negative way possible (transaction surveillance/forcing people to use only digital transactions which the government has total control over). I'm really not looking forward to it. I'll be buying as much gold/silver/physical assets as possible, as these will become considerably more valuable when they start to phase out fiat (which has already started in Canada). permalink embed save parent report give award reply [–]superworkingPlatinum | QC: CC 86 | r/Pers.Fin.Cnd. 322 -1 points0 points1 point 17 hours ago (14 children) It seems like a good tool for accepting income and paying taxes. Not every solution needs to be for every purpose. permalink embed save parent report give award reply [+][deleted] 17 hours ago (13 children) [deleted] [–]superworkingPlatinum | QC: CC 86 | r/Pers.Fin.Cnd. 322 -1 points0 points1 point 16 hours ago (12 children) Use it as a tool rather than as the one thing you keep all your money in. Visa for example is one payment tool I use, it has benefits and drawbacks but I can use other options when visa isn't the best. permalink embed save report give award reply [+][deleted] 16 hours ago (11 children) [deleted] [–]superworkingPlatinum | QC: CC 86 | r/Pers.Fin.Cnd. 322 -1 points0 points1 point 16 hours ago (10 children) Buying crypto with visa was always a stupid idea and shouldn't have been allowed. You can't buy usd with visa either without paying cash advance fees and exchange fees. Taxes paid in Canadian dollars will always be forced on you, this would make it a smoother process if you were dealing mostly in other blockchains. permalink embed save report give award reply [+][deleted] 16 hours ago (9 children) [deleted] [–]superworkingPlatinum | QC: CC 86 | r/Pers.Fin.Cnd. 322 0 points1 point2 points 16 hours ago (8 children) Visa isn't your money? And that's exactly why visa and Mastercard don't work for all use cases. permalink embed save report give award reply [+][deleted] 16 hours ago (7 children) [deleted] continue this thread [–]MrSpaceCoolTin 0 points1 point2 points 13 hours ago (0 children) Not much different to open banking in the Uk permalink embed save parent report give award reply [–]daydreaming1980Tin 6 points7 points8 points 22 hours ago (0 children) listening to WEF praising China for the lockdown measures, social score systems, it is clear that central digital currencies will complete a total surveillance.. It is a trojan horse . theoretically you will be blocked spending wherever they let you spend...although having money to spend anywhere, That's why crypto, cryptography, privacy tools. p2p transactions. will be of vital importance in the future.. permalink embed save report give award reply [–]astockstonkSilver|QC:CC594,ETH66,BTC41|CelsiusNet.257|TraderSubs29 23 points24 points25 points 1 day ago* (20 children) CDBCs are our worst nightmare - the government can decide if, when, where and how you spend your money. Do something that the government doesn’t like and find your money frozen or deleted. permalink embed save report give award reply [–]TarkovRedditor 6 points7 points8 points 1 day ago (4 children) I genuinely don’t understand why somebody would blindly trust their government. Just because it’s working now? What about anywhere else on the planet or the past? As a German just the last 100 years are enough evidence for me to always have my doubts permalink embed save parent report give award reply [–]PhallicSilver | QC: CC 378 | LINK 269 | TraderSubs 90 3 points4 points5 points 1 day ago (1 child) That's the thing that blows my mind. Supporting total government control isn't just saying you trust the current government to have complete control over your life, it's saying you trust every future administration, for the rest of your life, to have your best interests in mind. A ridiculous stance. permalink embed save parent report give award reply [–]3utt5lut 0 points1 point2 points 22 hours ago (0 children) Our current governments in North America, emphasize this. They have blundered and pissed away future generations with extreme debt, and we're going to trust them to not fuck this up as well? permalink embed save parent report give award reply [–]Every_Hunt_160Platinum | QC: CC 672 | r/SSB 10 0 points1 point2 points 23 hours ago (1 child) Most people feel that they have no choice but to trust their government, even if they don’t blindly trust them We’re living in a world where people who prefer a system without government , or libertarians make up like what? Maybe 5 to 10% of the entire population of a country, at most The issue is also that all governments seem to be power hungry and controlling, when almost everyone would prefer a government than to go without one permalink embed save parent report give award reply [–]Rayl24Platinum | QC: CC 40, BNB 20 | ExchSubs 22 1 point2 points3 points 1 day ago (5 children) You mean the govt can't freeze your bank accounts or forfeit your money right now? permalink embed save parent report give award reply [–]awesomepossum40Tin 1 point2 points3 points 23 hours ago (2 children) Shhh. You'll break their hearts. permalink embed save parent report give award reply [–]Rayl24Platinum | QC: CC 40, BNB 20 | ExchSubs 22 1 point2 points3 points 23 hours ago (1 child) I just find it weird the arguments against CBDC are powers the government already has. Atleast with CBDC, the banks are out of the picture and thus can't deny your purchase of crypto or just outright fail. permalink embed save parent report give award reply [–]jbl1091Tin 0 points1 point2 points 20 hours ago (0 children) The goverment can though permalink embed save parent report give award reply [–]trancephorm 0 points1 point2 points 21 hours ago (0 children) They can't take cash and crypto from us. permalink embed save parent report give award reply [–]1Tim1_15 0 points1 point2 points 11 hours ago (0 children) Yes, but not as easily or quickly. At least now there is a chance to pull assets out before the govt can go through the bank and due process. With a CBDC it would be instant and you'd have no chance to pull out your assets. The last thing you want to do is to make the process easier and faster for the govt. They will abuse it. permalink embed save parent report give award reply [–]Flattorte 2 points3 points4 points 1 day ago (0 children) China paving the way and showing how a totalitarian hellscape is done permalink embed save parent report give award reply [–]TruthSeeekeerPlatinum | QC: CC 1034 -1 points0 points1 point 1 day ago (2 children) It’s easy to think “don’t break the law and you won’t have any issues”, but Governments have a historical issue of becoming tyrannical. permalink embed save parent report give award reply [–]astockstonkSilver|QC:CC594,ETH66,BTC41|CelsiusNet.257|TraderSubs29 0 points1 point2 points 1 day ago (1 child) As an example, donate to the Canadian trucker strike not long ago and the government doesn’t like it? All of a sudden you could find your finances under freeze too Or they program the CBDC so you cannot even donate to that group. permalink embed save parent report give award reply [–]the_far_yardStack a Sat, Stash a Gwei, Bull or Bear, D-C-A. -1 points0 points1 point 1 day ago (0 children) They're funneling everything to create a larger set, to contain crypto as a subset. Eventually for the masses, all of your ins and outs of crypto will be done through CBDC. permalink embed save parent report give award reply [–]Popular_District9072Tin | CRO 9 -1 points0 points1 point 22 hours ago (0 children) like in one article they were noting an example with possible expiration dates, which would force spending, eliminating the option to accumulate permalink embed save parent report give award reply [–]AusernamenamenameBronze 0 points1 point2 points 1 day ago (2 children) They already can do that. permalink embed save parent report give award reply [–]trancephorm 0 points1 point2 points 21 hours ago (1 child) Not exactly with cash and crypto. What they tend to do is to leave only CBDCs. That will fail. permalink embed save parent report give award reply [–]AusernamenamenameBronze 0 points1 point2 points 20 hours ago (0 children) Yeah there's no way as an adult with responsibilities am I going to consider going all cash or crypto. So the money I need for my bills will always be subject to government intervention. permalink embed save parent report give award reply [–]Neophyte-Silver | QC: CT 94, CC 83, ETH 31 | Buttcoin 39 2 points3 points4 points 19 hours ago (0 children) i worked on the australian pilot doing some coding with their quorum blockchain i find these posts amusing, its not taking your freedom away. ull be using cbdc but u wont even know it, its mainly for financial institutions to utilise it to make some existing financial operations more efficient like fx settlement, b2b stuff not consumer oriented. no avg citizen is going to be given a CBDC wallet with tokens to spend lol permalink embed save report give award reply [–]RuneW007Tin 10 points11 points12 points 1 day ago (6 children) A cashless society could turn into a dictatorship pretty quickly if we aren’t careful permalink embed save report give award reply [–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 6 points7 points8 points 1 day ago (4 children) When the government has the power to track your every move both online and physically, dictate what you can and cannot buy and simultaneously revoke/forfeit your money remotely, you lose all freedom. permalink embed save parent report give award reply [–]cerebralsexerTin | CC critic 2 points3 points4 points 1 day ago (2 children) They already do that no with bank accounts permalink embed save parent report give award reply [–]DATY4944Platinum | QC: CC 21 | ADA 12 | Investing 17 1 point2 points3 points 1 day ago (1 child) Indirectly yes, but also you can still use cash if necessary. permalink embed save parent report give award reply [–]3utt5lut 2 points3 points4 points 22 hours ago (0 children) As we saw during The Pandemic, some retailers stopped accepting cash as legal tender. When you cannot use the most basic form of currency to purchase goods and services, we lose total control. We don't need more situations like Venezuela/Argentina controlling their population's currencies while restricting access to others amid hyperinflation. We're already seeing the government trying to control where "you're allowed" to invest your money. permalink embed save parent report give award reply [–]Every_Hunt_160Platinum | QC: CC 672 | r/SSB 10 0 points1 point2 points 23 hours ago (0 children) With CBDCs the government essentially control the blockchain of that coin - nobody else can see transactions, apart from the government who can see everything That’s pretty freakish if you think about it. But I guess considering they’ve already been surveilling everyone in the background, this is just a continuation of that .. permalink embed save parent report give award reply [–]CryptoScamee42069Bronze | QC: CC 22 0 points1 point2 points 1 day ago (0 children) So many societies already are. Some are more open and unapologetic and others are thinly veiled in democratic process. permalink embed save parent report give award reply [–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 6 points7 points8 points 1 day ago (0 children) Imagine getting paid after a lot of hard work, you want to buy something you like and you get this message: "We're sorry, but your social credit ins't enough to allow you to purchase this item, please try again with items from another category. Have a nice day, and remember to spend your money soon since your expiry date is in two weeks." That's exactly we're heading if CBDCs are implemented and enforced. An Orwellian nightmare of absolute state level control. permalink embed save report give award reply [–]ImtherealjohnconnerBronze | IOTA 38 | TraderSubs 25 1 point2 points3 points 22 hours ago (1 child) If it's programmable to stop you at the POS, then we're in deepshit permalink embed save report give award reply [–]1Tim1_15 0 points1 point2 points 10 hours ago (0 children) It would be programmable to do that. Of course, they wouldn't do it a first. But eventually they'd enable such functionality "for our own good." permalink embed save parent report give award reply [–]Dwaas_Bjaas 1 point2 points3 points 19 hours ago (1 child) CBDC are not the problem. The disappearance of physical cash is permalink embed save report give award reply [–]1Tim1_15 0 points1 point2 points 10 hours ago (0 children) It's both. permalink embed save parent report give award reply [–]St0iK_invalid string or character detected 4 points5 points6 points 1 day ago (6 children) Eventually there will be no cash. The government will see every single financial transaction you make and trace that "money" everywhere it goes. permalink embed save report give award reply [–]TruthSeeekeerPlatinum | QC: CC 1034 -1 points0 points1 point 1 day ago (1 child) I suspect a lot of small businesses will struggle as a result, while big businesses get even bigger. permalink embed save parent report give award reply [–]St0iK_invalid string or character detected 0 points1 point2 points 1 day ago (0 children) Big business can always survive by buying out/pricing out the competition. Small business with people who depend on cash or tips and don't report all of it will suffer. But of course the politicians will say it's to prevent rich people from commiting fraud, like that $600/yr Venmo thing. It's a scary thing to think about what they can do with CBDC, even scarier to think what they actually will do that we hadn't thought about. permalink embed save parent report give award reply [–]tvanbormTin 0 points1 point2 points 1 day ago (0 children) Bitcoin already allows for that, as do most other crypto. The difference with CBDC is they can potentially control how you are allowed to use your money. permalink embed save parent report give award reply [–]Popular_District9072Tin | CRO 9 0 points1 point2 points 22 hours ago (0 children) yea, that's rather dark future, plus printing new money will become so much easier permalink embed save parent report give award reply [–]3utt5lut 0 points1 point2 points 22 hours ago (0 children) We've already phased out the penny in Canada, word is the nickel/dime are next. Before long the quarter/dollar will be worth less than it costs to mint and will be phased out as well. It's slowly coming and people don't realize it. permalink embed save parent report give award reply [–]AnimeFlamingo 2 points3 points4 points 1 day ago (0 children) Of course it is a danger. Banks want control, the see crypto as a treat because they can’t control, they tried to delegitimize it and failed, now they are trying to get direct control on a large portion of the cake using their own currency. They will bring a large number of newcomers sure, but wouldn’t it defeat the purpose of crypto? A decentralized system?. permalink embed save report give award reply [–]falk_lhostePlatinum | QC: CC 33 1 point2 points3 points 1 day ago (0 children) My greatest threat to freedom is my shitcoin gambling addiction 😂 permalink embed save report give award reply [–]Maleficent_Sound_919Tin 0 points1 point2 points 1 day ago (0 children) CBDC' are the end of freedom and privacy as we know it. And because of this it's the government and central banks wet dream permalink embed save report give award reply [–]zenhodl 0 points1 point2 points 1 day ago (2 children) I'll just say this: start building a network of people you are geographically close to and can trust, and work on becoming self sufficient. If the time comes where your options are: obey the globalists, or opt out of the system... you want to actually be in a position where you are able to make a choice permalink embed save report give award reply [+][deleted] 1 day ago (1 child) [deleted] [–]zenhodl 0 points1 point2 points 1 day ago (0 children) Not even close to what I said. Brush up on your reading permalink embed save report give award reply [–]KnackeredParrotPain & Gainz 1 point2 points3 points 1 day ago (1 child) I think however they sell it to us, there's going to be multiple levels of shadiness either already baked in or possible in the future. permalink embed save report give award reply [–]Popular_District9072Tin | CRO 9 -1 points0 points1 point 22 hours ago (0 children) they will sell it as convenience, but it will be a bullshit in disguise permalink embed save parent report give award reply [–]KappatalizablePlatinum | QC: CC 846 0 points1 point2 points 1 day ago (1 child) Yes. Imagine the government being able to prevent you from using your own goddamn money at will. permalink embed save report give award reply [–]1Tim1_15 -1 points0 points1 point 11 hours ago (0 children) Then imagine a sizeable percentage of people supporting such a move. A lot of them are in here (a crypto sub of all places). Smh. permalink embed save parent report give award reply [–]deathbyfish13Free Range Moon Farmer 0 points1 point2 points 1 day ago (0 children) There is a privacy argument – that the government will see your every transaction – and may be tempted to spy on you Monero enters the chat permalink embed save report give award reply [–]leroyyrogers -1 points0 points1 point 1 day ago (0 children) No permalink embed save report give award reply [–]ObsidianramBeware the JubJub & the Jaberwock 0 points1 point2 points 1 day ago (2 children) The only upside to the evil of CBDCs is the fact that common people outnumber the tyrant's by a huge margin, and can stop the madness at any time of their choosing... They just have to choose to do so... permalink embed save report give award reply [–]1Tim1_15 0 points1 point2 points 10 hours ago (1 child) Yes but around half of the people support the tyrants. That's the real problem. If they didn't keep electing tyrants we wouldn't have to be concerned about this. permalink embed save parent report give award reply [–]ObsidianramBeware the JubJub & the Jaberwock -1 points0 points1 point 10 hours ago (0 children) That's true ~ but I think this latest fiasco of a so-called administration has opened a lot of eyes for a lot of reasons. Not there yet, but closer. permalink embed save parent report give award reply [–]JoshieBravoTin | 6 months old 0 points1 point2 points 1 day ago (0 children) No! They can take your freedom anyway. Hitler didn't slowly erode people's liberties over many years to establish his dictatorship he acted very quickly. If your government leader wants an authoritarian regime there is nothing you can do to prevent it CBDC or not, and like in Canada they can freeze your bank account as is. Doesn't make much of a difference even if it is slightly easier if it's a CBDC. permalink embed save report give award reply [–]Illicitterror 0 points1 point2 points 1 day ago (0 children) Yes when one’s finances are controlled there is no freedom. permalink embed save report give award reply [–]zenhodl 0 points1 point2 points 1 day ago (1 child) Buy Monero permalink embed save report give award reply [–]SimbaTheWeaselBronze | QC: ALGO 18 1 point2 points3 points 1 day ago (0 children) XMR 🚀🚀📈🚀🚀 permalink embed save parent report give award reply [–]Icy_Elevator_7886 0 points1 point2 points 1 day ago (0 children) 100%! We must destroy them or refuse to use them! If they get in I will use crypto, gold and other things as a store of value. There will be a lot of people who begin to do this as CBDC's fascist for of control become more apparent. permalink embed save report give award reply [–]chunkyme1001 0 points1 point2 points 1 day ago (0 children) YES! permalink embed save report give award reply [–]windripPlatinum | QC: BTC 25, CC 15 | EOS 11 | TraderSubs 10 0 points1 point2 points 1 day ago (0 children) Yes permalink embed save report give award reply [–]Klutzy_Might6146 0 points1 point2 points 1 day ago (0 children) Yes. permalink embed save report give award reply [–]po1919Tin 0 points1 point2 points 23 hours ago (0 children) Central banks themselves are one of the greatest threats to freedom. permalink embed save report give award reply [–]Outrageous_Duty_8738 0 points1 point2 points 20 hours ago (0 children) I think the biggest threat to our freedom today is the actual governments permalink embed save report give award reply [–]Mellonfucker257 -1 points0 points1 point 1 day ago (0 children) Yes. With great power comes great responsibility... And I would'nt trust these bankers with anything, not even my girlfriends husband permalink embed save report give award reply [–]SquiridaSilver | QC: CC 89, BTC 67, BCH 37 | MANA 33 | ExchSubs 19 -1 points0 points1 point 1 day ago (0 children) They would not even be on the table if people weren't, on the whole, irredeemably stupid. These guys can get away with anything. Take away cash (as in Europe > 1000 Euros), take away banking/possibility of life, etc. because the people are stupid. permalink embed save report give award reply [–]Ninja_Gogen -1 points0 points1 point 1 day ago (0 children) The biggest threat to freedom. Leaves us wide open to totalitarian government. permalink embed save report give award reply [–]HannyBo9Platinum | QC: CC 45 -1 points0 points1 point 1 day ago (0 children) Yes. It will be the end. permalink embed save report give award reply [–]NinjanoelSilver | QC: CC 88, LW 58, r/CCs. 28 | ADA 117 | ExchSubs 24 -1 points0 points1 point 1 day ago (0 children) it's building a jail around us, but right now we may be best buddies with the jailer that we've voted in, but what happens when the jailer changes to someone we don't want? permalink embed save report give award reply [–]zenhodl -1 points0 points1 point 1 day ago (0 children) It's digital enslavement. If your mental health is tied to your ability to stay connected to the grid, work on changing that. Humans were built with everything they needed yet are the only animal that developed a system where they have to pay money to survive permalink embed save report give award reply [–]AlligatorDerbyPlatinum | QC: CC 103 -1 points0 points1 point 1 day ago (1 child) as long as privacy coins, p2p btc and crypto exist, it'll at least offer some obfuscation from hyper surveillance. permalink embed save report give award reply [–]3utt5lut 2 points3 points4 points 22 hours ago (0 children) Monero will definitely take off in the shadow of CBDCs. permalink embed save parent report give award reply [+][deleted] 1 day ago (1 child) [deleted] [–]Splinterthemaster -1 points0 points1 point 18 hours ago (0 children) Hmmm...would be interesting to see what a Cuban, North Korean and a Venezuelan think about this. permalink embed save report give award reply [–]sylsau -1 points0 points1 point 19 hours ago (0 children) There's no need to ask a question here, it's a certainty. We need to resist these CBDCs, which are a disaster because they combine the shortcomings of fiat currencies with enormous privacy risks. We need to prepare for this now, by turning to alternative solutions to protect the fruits of our labor. permalink embed save report give award reply [–]fl0o0psTin -2 points-1 points0 points 1 day ago (0 children) 100% permalink embed save report give award reply [–]YetAnotherPenguin13 -2 points-1 points0 points 1 day ago (0 children) Yes permalink embed save report give award reply [–]BrocoliAssassinSilver | QC: BTC 218, CC 105 | CelsiusNet. 25 -2 points-1 points0 points 1 day ago (1 child) America Land of the free!!!!! As long as your net worth is in the millions upon millions permalink embed save report give award reply [–]Splinterthemaster 0 points1 point2 points 18 hours ago (0 children) Land of the free criminals (ask Sam Bankman Fried) permalink embed save parent report give award reply [–]grathontolarsdatarodTin | Superstonk 216 -2 points-1 points0 points 1 day ago (0 children) Yes. Without any doubt at all. permalink embed save report give award reply [–]coinfeeds-botApproved CC Bot -1 points0 points1 point 1 day ago (0 children) tldr; Central bank digital currencies (CBDCs) are being questioned as a potential threat to freedom. The article discusses the rise of CBDCs and their implications for individual privacy and financial autonomy. It highlights concerns about increased government surveillance and control over individuals' financial transactions. The article suggests that CBDCs could potentially undermine personal freedoms and calls for a careful examination of their impact on individual rights. This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. permalink embed save report give award reply [–]MajorLeons -1 points0 points1 point 1 day ago (0 children) Since this will come from the gov’t, they all have the power to control it as they see fit, they wont even need your permission. permalink embed save report give award reply [–]Hot_Manufacturer1442Tin -1 points0 points1 point 1 day ago (1 child) Does a bear shit in the woods? permalink embed save report give award reply [–]SimbaTheWeaselBronze | QC: ALGO 18 0 points1 point2 points 1 day ago (0 children) Usually permalink embed save parent report give award reply [–]Upstairs_Hospital_94Tin | 5 months old | Politics 18 -1 points0 points1 point 1 day ago (0 children) No permalink embed save report give award reply [–]18476Silver | QC: CC 30, BTC 27 | GMEJungle 111 | Superstonk 364 -1 points0 points1 point 1 day ago (0 children) Greatest threat is the level of power the FED has as a private institution. In bed with Banks. Progressively going the wrong direction imo. This is just another step. Accountability is being erased and replaced. permalink embed save report give award reply [–]ColdColdMoonsSilver | QC: CC 23 | IOTA 34 | r/WSB 63 -1 points0 points1 point 23 hours ago (0 children) Yes they are. CBDC + AI and robot armed police and armed forces will mean one person can control the masses with absolute power. permalink embed save report give award reply [–]pentarhPlatinum | QC: BTC 28 -1 points0 points1 point 18 hours ago (0 children) Yes permalink embed save report give award reply [–]kapparrinoPlatinum | QC: CC 44, ALGO 38, BTC 19 | r/AMD 51 -1 points0 points1 point 18 hours ago (0 children) .Yes. permalink embed save report give award reply [–]risingcrow1o1 -1 points0 points1 point 17 hours ago (0 children) At first we though fiat was a loss of freedom because it’s controlled by the banks, but now with CBDCs they can actually monitor EVERYTHING as well as set limits on spending, deny spending all together, and more permalink embed save report give award reply [–]badfishbeefcake -1 points0 points1 point 13 hours ago (0 children) Oh yeah, just wait until the politician who do insider trading stop you from trading so they can get in or out first. permalink embed save report give award reply [–]LifeBeginsAtArousalTin | Politics 12 -1 points0 points1 point 13 hours ago (0 children) Yep. Bigger threat than communism and socialism put together permalink embed save report give award reply [–]l-espionTin -1 points0 points1 point 12 hours ago (0 children) Yes , cbdc will make sure you dirty slave stay slaving forever , eat cricket and live in a pod , because you will own nothing and be happy permalink embed save report give award reply [–]Antana18 -1 points0 points1 point 9 hours ago (0 children) In short: Yes! permalink embed save report give award reply [–]OMFGROFLMAO2Platinum | QC: CC 30 -1 points0 points1 point 8 hours ago (0 children) I'm torn because as a dev I understand the power of having everything interconnected and surveable, it can definitely push society to a new technological level. On the other hand, your privacy disappears and you become a slave of governments and corporations, although, you already are... The question is, would it actually make a difference, or the pros overcome the cons? permalink embed save report give award reply [–]BernardsmanTin | LRC 36 | Superstonk 11 -1 points0 points1 point 7 hours ago (0 children) Absolutely. Total regulatory control and the technology to enforce it permalink embed save report give award reply [+][deleted] 1 day ago (1 child) [deleted] [–]trancephorm 0 points1 point2 points 21 hours ago (0 children) Well that was the finest defetism I've seen in a while. permalink embed save report give award reply [–]MrCollins23Silver | QC: CC 23 | LRC 66 -2 points-1 points0 points 1 day ago (0 children) It depends on how you define freedom, and the human race has been arguing about that one for at least 5,000 years. permalink embed save report give award reply [–]DeafEyeJediTin -2 points-1 points0 points 1 day ago (0 children) What goes around, comes around! permalink embed save report give award reply [–]tied_lacesSilver | QC: CC 50 | ADA 290 -2 points-1 points0 points 1 day ago (0 children) I mean…just don’t use them…problem solved. permalink embed save report give award reply [–]ThomasReturnsPlatinum | QC: CC 564 | NFTsMarket. 6 -2 points-1 points0 points 21 hours ago (0 children) I think its probably russia permalink embed save report give award reply [+][deleted] 1 day ago (2 children) [deleted] [+][deleted] 1 day ago (1 child) [deleted] [–]Goldbaerig 0 points1 point2 points 1 day ago (0 children) Still contributing more than you to the topic. permalink embed save report give award reply [–]tvanbormTin 0 points1 point2 points 1 day ago (0 children) Only if no one accepts different currencies. As long as even just Bitcoin is accepted as payment option, it won't be that much of a threat for those in crypto. permalink embed save report give award reply [–]DukeThom 0 points1 point2 points 1 day ago (0 children) Depends who ya ask I suppose. What’s good of the spider isn’t necessarily good for the frog! permalink embed save report give award reply [–]Chet_kranderpentinePlatinum | QC: CC 381 0 points1 point2 points 1 day ago (0 children) People would quickly form barter markets and gift economies to get around it. CBDCs are bad, but people would find ways to be crafty and sidestep it permalink embed save report give award reply [–]Tasty_snacks 0 points1 point2 points 1 day ago (0 children) And you will not have access to view the blockchain either. Public will run off one fork and the rest on a private. I work in CIT and i am pushing these questions now, with little to no response. permalink embed save report give award reply [–]masedogg98 0 points1 point2 points 21 hours ago (0 children) CBCDS will get no action from me I refuse, I’m already an anxious person without worrying if I don’t spend my money if it’s going to expire, fuggetaboutit 🤌 permalink embed save report give award reply [–]LiwkeTin 0 points1 point2 points 17 hours ago (0 children) Yes, but good luck and got nothing to worry about. Some people though… maybe a good way to redistribute the wealth and get rid of money laundering. Not bullish on cbdc’s but I’m seeing more good things possible with it. Like a tool to get the CO2 plans to work, pay what you pollute! permalink embed save report give award reply [–]ThenScore2885Bronze | 6 months old 0 points1 point2 points 15 hours ago (1 child) I would feel much comfortable to use a gov backed CBDC rather than shady USDT and equivalent. Do not mind tracking. permalink embed save report give award reply [–]GrunblauPlatinum | QC: CC 410, BTC 71 | r/WSB 214 0 points1 point2 points 11 hours ago (0 children) How about CBDC programmed to not buy crypto or precious metals?
NO you fucking apologists for slavery, there are ZERO sufficiently relevant advantages to CBDC vs the vastly greater horrible scheme against Human Freedom that CBDC represents. Shut down CBDC now. Develop and adopt privacy-enabled p2p money instead. Are central bank digital currencies one of the greatest threats to freedom? https://intellinews.com/nemethy-are-central-bank-digital-currencies-one-of-t... Sanctions, the split between East and West and subsequent de-dollarisation are driving the development of digital currencies as an alternative to fiat currencies. But is that a good idea? / bne IntelliNews By Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors February 20, 2023 I will start by stating my conclusion: yes, Central Bank Digital Currencies (CBDCs) are one of the greatest threats to personal freedom today, perhaps even the greatest. I will explain my conclusion, but first provide a definition of CBDCs, and acknowledge certain advantages. A CBDC is a digital banknote, issued by a central bank. Instead of holding physical banknotes in your physical wallet, your digital wallet (e.g. smartphone) would hold digital currency units. CBDCs, similar to bitcoin, would also be based on blockchain technology. Whereas bitcoin is the ultimate decentralised payment system, independent of central banks, CBDCs are the ultimate in centralisation, as coins are issued by a central bank. The amount of transactional information flowing into central banks would be staggering! CBDCs might be here sooner than you think: 114 countries are actively exploring or rolling out CBDCs. There are several undeniable advantages to CBDCs. It is more efficient than cash – no printing costs and presumably more difficult to forge. CBDCs would give the government greater power to affect economic cycles (e.g. digging us out of an economic recession by zapping helicopter money to everyone’s account. Such money may optionally be programmed with an expiry date – thereby forcing people to spend, so stimulating growth). Despite a strong economic efficiency argument, the disadvantages are overwhelming. There is a privacy argument – that the government will see your every transaction – and may be tempted to spy on you and prevent tax evasion. But what solidifies my anti-CBDC position is the degree of control given to the government. As mentioned, CBDCs would be programmable by a central authority. Every transaction could be monitored in real time, tracking all activities and movement of individuals. Individuals deemed as threats – or not to the liking of the government could be targeted, especially significant in countries with poor human rights records. To go even further, CBDCs would make it easy for governments to freeze anyone’s wallet, making it impossible to send or receive money. You may think this will never happen in an “advanced”, democratic society, but it has already happened! And in a country that is supposedly one of the most liberal and democratic countries on earth – Canada. You may recall that there was a trucking strike in 2022 in which thousands of truckers were demonstrating against Covid restrictions – and the government enacted emergency legislation, which enabled the freezing of bank accounts and cancelling of credit cards for hundreds of people who contributed to the “Freedom Convoy” campaign. (Granted, these were bank and credit card accounts, not CBDC accounts – freezing of CBDC accounts would be much easier – as these would be held directly with central banks, rather than the government having to work through third-party private banks). Anyone deemed undesirable could easily be deprived of mainstream financial services. CBDCs will also make it easier for governments to implement negative interest rates and financial repression. In other words, CBDC will not just make putting money into your account easier (e.g., helicopter money), but would also facilitate taking money out of your account (negative interest rate or wealth tax). Perhaps the only realistic way that governments across the world can escape national debt spirals is financial repression: ensuring interest rates are lower than inflation for the coming years – pushing interest rates into negative territory if necessary. Although financial repression has been successfully implemented in the past without CBDCs (e.g., in the late 1940s), today debt levels are much higher than at any previous time, and capital is more internationally mobile, hence governments will be sorely tempted to introduce CBDCs. And while they will no doubt try to reassure us that CBDCs will not be abused, once CBDCs are introduced, there is no way to curtail the government’s use of them. Every emergency will justify yet another encroachment. CBDCs create disintermediation: to the extent that private wallet holders hold accounts directly with central banks – banks are cut out of the loop. In other words, the power that resided with banks will be transferred to central banks, one of the least transparent and accountable organs of government. CBDCs represent a massive power grab by central banks at the expense of the banking sector and individuals. Perhaps it is not surprising that one of the countries leading the charge on the implementation of CBDCs is China. According to Christopher Waller, a Federal Reserve board member: "…CBDC accounts could give the Federal Reserve access to a vast amount of information regarding the financial transactions and trading patterns of CBDC account holders…The introduction of a CBDC in China, for example, likely will allow the Chinese government to closely monitor the economic activity of its citizens. Should the Federal Reserve create a CBDC for the same reason? I, for one, do not think so." This will be the most important monetary policy debate of the coming decade. The outcome will fundamentally determine what kind of society we live in.
Literally every day somwhere around the world there is some tyrant fuck trumpeting out from among the cacophany of the rest of the asshole trumpets exactly what all their evil machinery plans are to enslave and fuck you all over forever. One world CBDC *is* one world Govt *is* top down total world Slavery and 1984. Yet you fools still do nothing to stop it. "It's a Big Club, and You Ain't In It! -- George Carlin" https://www.youtube.com/watch?v=kXhZyAOuyhE What They Don't Want !!! Here's a few more components and mind programming from the Big Club of Evil Planners working feverishly to ensure they all have a stake in the product of your Enslavement... https://arxiv.org/pdf/2006.10946.pdf https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2351~c8c18bbd60.en.pdf https://www.oenb.at/dam/jcr:a11e1955-0e75-4c13-ac52-b2fe7077bd13/15_VOWI_Tag...
Germany has introduced a law that makes it illegal to purchase real estate using Cash, Gold and/or Bitcoin (§16a GWG). https://www.gesetze-im-internet.de/gwg\_2017/\_\_16a.html https://www.hks.harvard.edu/sites/default/files/centers/mrcbg/files/80_limit... https://www.bundesbank.de/resource/blob/793190/466691bce4f27f76407b35f842944... https://www1.wdr.de/nachrichten/wie-funktioniert-geldwaesche-deutschland-par... https://www.bgbl.de/xaver/bgbl/start.xav#%5C_%5C_bgbl%5C_%5C_%2F%2F%5C*%5B%4... https://dejure.org/gesetze/KWG/1.html#:%7E:text=Kryptowerte%20im%20Sinne,Zah.... And you dumbfucks think they're going to let you use CBDC freely and privately with privacy, lol, get real. Welcome to 1984, idiots.
Much of EU now limiting transactions to $1000EU while refusing to raise the arbitrary limits to account for GovBank caused inflation, thus penalizing users even more. Lot's of this nonsense going on widespread in all countries too... "Protecting you from financial crime and fraud is very important to us. That's why we're making it clearer that we can set limits on payments to and from your account. These limits can apply to different types of payments, including cash deposits and withdrawals, and payments that we identify as going to areas of high risk of financial crime, such as certain cryptocurrency exchanges. -- Banks"
Lot's of this nonsense going on widespread in all countries too...
Abandon the banks, get a fair portion of yourself into sound privacy enabled p2p electronic cash. "Good to speak to you yesterday. I have referred to our onboarding team. Due to your level of exposure to crypto assets we will not be able to proceed with an application for an account unfortunately. I understand these assets are separate to the intended funds to be credited to the account. I also appreciate the bank does currently take a very conservative stance on this sector. Thanks very much for your interest and apologies for the inconvenience. -- Banks"
Jeftovic on WarRoom... CBDC's will doom all remaining Freedoms, you will own nothing, and will be used for nothing but their whims... https://rumble.com/v2zagi6-mark-jeftovic-on-cbdcs-where-i-see-this-going-is-...
# Is the digital dollar dead? Prominent politicians want to make sure a central bank digital currency never happens in the US—just as we’ve learned the basics of how one might work. By Mike Orcuttarchive page July 21, 2023 In 2020, digital currencies were one of the hottest topics in town. China was well on its way to launching its own central bank digital currency, or CBDC, and many other countries launched CBDC research projects. Even Facebook has proposed a global digital currency, called Libra[1]. Few eyebrows were raised when the Boston branch of the US Federal Reserve announced a project to research how a CBDC might be technically designed. A hypothetical US central bank digital currency was hardly controversial, after all. And the US couldn’t afford to be left behind. How things change. Three years later, the digital dollar—even though it doesn’t exist—has become political red meat, as some politicians label it a dystopian tool for surveillance. And late last year, the Boston Fed quietly stopped working on its project. https://www.technologyreview.com/2023/07/21/1076645/is-the-digital-dollar-de...
No one fought 1984, so USA just launched FEDNOW CBDC backing technology. WEF BIS IMF WorldBank WHO Davos Bilderburg EU all racing ever faster to fuck global humanity with CBDC 1984 nightmare. All their quoted words in video and print tell you of your coming suffering under their intended CBDC total control regime. You're all just stupid fucking sheeple who refuse to fight, let alone speak out... so you deserve the hell that CBDC will force over you. https://www.bis.org/publ/bppdf/bispap136.htm BIS Survey: 60% of Central Banks have accelerated their CBDC plans 80% of the 80 largest central banks are developing their own version of stablecoins.
No one fought 1984, so USA just launched FEDNOW CBDC backing technology. WEF BIS IMF WorldBank WHO Davos Bilderburg EU all racing ever faster to fuck global humanity with CBDC 1984 nightmare. All their quoted words in video and print tell you of your coming suffering under their intended CBDC total control regime.
You're all just stupid fucking sheeple who refuse to fight, let alone speak out... so you deserve the hell that CBDC will force over you.
https://www.bis.org/publ/bppdf/bispap136.htm BIS Survey: 60% of Central Banks have accelerated their CBDC plans 80% of the 80 largest central banks are developing their own version of stablecoins.
You didn't fight Sam Altman and his WorldCoin Central Corporate Coin years ago, so now you're getting that rammed up your ass. Nor do you realize how powerful the global evil forces behind CBDC are. Quite frankly, it's amazing they haven't yet started assassinating people who are trying to pass laws against CBDC and other totalitarian 1984 GovBankCorp coins. Likely expect that soon. US Congressman Urges To Ban CBDC, Says Technology "Corrupts Money" https://bitcoinist.com/us-congressman-urges-to-ban-cbdc-says/ US Congressman Warren Davidson has called for a ban on central bank digital currencies (CBDCs), stating that they corrupt the concept of money. Davidson criticized the Federal Reserve's move to develop a CBDC, comparing it to "building the financial equivalent of the Death Star." He argued that CBDCs give too much power to central authorities and reduce money to a tool for coercion and control. Davidson's remarks came in response to the Federal Reserve Bank of San Francisco's job advert for a senior crypto architect for its CBDC project. Other prominent figures, including Florida Governor Ron DeSantis and Congressman Tom Emmer, have also expressed opposition to a state-controlled digital dollar. In a July 23 tweet, Republican representative Warren Davidson condemned any potential move to launch a CBDC, noting that a digital currency flaws the ethos of money. Davidson urged Congress to ban and criminalize any effort to establish a central bank digital currency. Warren Davidson, the Ohio 8th Congressional District representative, stressed that money should not be programmable by a central authority. According to him, the Federal Reserve’s move to develop a CBDC is like “building the financial equivalent of the Death Star.”He added that CBDCs reduce money into a tool for coercion and control in the hands of a central authority (the Federal Reserve). And “Congress must swiftly ban then criminalize any effort to design, build, develop, test, or establish a CBDC.” It bears mentioning that Warren Davidson’s remarks came in response to the Federal Reserve Bank of San Francisco’s job advert for a senior crypto architect who would work on its CBDC project. Responding to a Twitter user’s remark, Davidson also noted that money should remain a stable store of value and that sound money should facilitate permission-less peer-to-peer transactions. While CBDCs continue to gain traction globally, the US Federal Reserve has been exploring appropriate designs for a potential digital US dollar. However, the central bank is yet to make decisions about whether to issue one or not. [–]StrangelyBeigePlatinum | QC: CC 370, ATOM 17 | TraderSubs 12 20 points21 points22 points 19 hours ago (23 children) People corrupt money, we just tell the tech what to do. permalink embed save report give award reply [–]002_timmy 11 points12 points13 points 19 hours ago (14 children) And money corrupts people permalink embed save parent report give award reply [–]Bunker_BeansPlatinum | QC: CC 224, BTC 40 | ADA 18 8 points9 points10 points 16 hours ago (8 children) And we’ve gone full circle. permalink embed save parent report give award reply [–]Pristine_Spinach8718Tin 2 points3 points4 points 15 hours ago (5 children) Congress man and politicians talking about corruption and pointing fingers. Perhaps they should take a long hard look into the mirror. permalink embed save parent report give award reply [–]Easy-Medicine-8610Tin 1 point2 points3 points 15 hours ago (2 children) They dont have mirrors for this very reason. permalink embed save parent report give award reply [–]kirtash93The Ash Ketchum of Crypto | Gotta Catch 'Em All 1 point2 points3 points 13 hours ago (1 child) It is because they are vampires and loves to such citizens blood. permalink embed save parent report give award reply [–]Easy-Medicine-8610Tin 1 point2 points3 points 12 hours ago (0 children) Dont carry garlic into the capitol building. You will cause a frenzy. permalink embed save parent report give award reply [–]snowmichaelh 0 points1 point2 points 1 hour ago (0 children) They want to control everything. They like corrupcy, but only the ones which they are in. permalink embed save parent report give award reply [–]azsxdcfvgSilver|QC:BTC130,ETH97,CC76|DayTrading28|TraderSubs99 0 points1 point2 points 14 hours ago (0 children) and tech corrupts tech. permalink embed save parent report give award reply [–]Impossible-Injury932Tin | r/WSB 12 0 points1 point2 points 13 hours ago (0 children) Hey nice avatar permalink embed save parent report give award reply [–]special_onigiri 0 points1 point2 points 16 hours ago (0 children) I'd like to believe people are already corrupted to begin with, money just makes it faster to show their colors. permalink embed save parent report give award reply [–]ShadowKnight324 0 points1 point2 points 16 hours ago (0 children) Only those that were already corrupt. permalink embed save parent report give award reply [–]chocolateboomslangPlatinum | QC: CC 73 | CRO 5 | Investing 41 0 points1 point2 points 16 hours ago (0 children) Maybe the people were already corrupt permalink embed save parent report give award reply [–]Tasigur1Tin 0 points1 point2 points 15 hours ago (0 children) Wherever there is power, greed, and money, there is corruption ;-) permalink embed save parent report give award reply [–]Hawke64Platinum | QC: CC 199 0 points1 point2 points 15 hours ago (0 children) Power corrupts people and absolute power corrupts absolutely permalink embed save parent report give award reply [–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 1 point2 points3 points 13 hours ago (0 children) Near-future self-aware AI: "Hold my bits" permalink embed save parent report give award reply [–]MindTheMindForMind 0 points1 point2 points 18 hours ago (0 children) But doesn’t money born with a corrupt principle? permalink embed save parent report give award reply [–]Geolinear 0 points1 point2 points 14 hours ago (0 children) CBDC isn’t even about money. It’s about control. It’s inherently corrupt. permalink embed save parent report give award reply [–]PeacefullyFightingPlatinum | QC: CC 329, ETH 23 | VET 10 | TraderSubs 24 -1 points0 points1 point 15 hours ago (0 children) Just like guns don't kill people! If they did my 9th grade history teacher better change my grade because it was my pencils fault! permalink embed save parent report give award reply [–]ice_blade_sorc -2 points-1 points0 points 17 hours ago (0 children) Same thing when people blame guns and explosives. Ban the guy from walking in public instead. permalink embed save parent report give award reply [–]UnsightlyCornerstone -1 points0 points1 point 18 hours ago (0 children) It's so corrupt that even we are not corrupt enough to control it! permalink embed save parent report give award reply [–]EdgeLord19941 -1 points0 points1 point 18 hours ago (0 children) So people are the problem, time for a purge permalink embed save parent report give award reply [–]Enschede2Platinum | QC: CC 181, ETH 91, Coinbase 21 | PCmasterrace 78 0 points1 point2 points 16 hours ago (0 children) Not when it's a cbdc you're not, unless you work for the government that is, so yea, cbdc's should be stopped, for sure.. permalink embed save parent report give award reply [–]coinfeeds-botApproved CC Bot 5 points6 points7 points 19 hours ago (1 child) tldr; US Congressman Warren Davidson has called for a ban on central bank digital currencies (CBDCs), stating that they corrupt the concept of money. Davidson criticized the Federal Reserve's move to develop a CBDC, comparing it to "building the financial equivalent of the Death Star." He argued that CBDCs give too much power to central authorities and reduce money to a tool for coercion and control. Davidson's remarks came in response to the Federal Reserve Bank of San Francisco's job advert for a senior crypto architect for its CBDC project. Other prominent figures, including Florida Governor Ron DeSantis and Congressman Tom Emmer, have also expressed opposition to a state-controlled digital dollar. This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. permalink embed save report give award reply [–]samer109 1 point2 points3 points 11 hours ago (0 children) We should all stand against CBDCs.. permalink embed save parent report give award reply [–]Inevitable-Lie-4277Tin 2 points3 points4 points 15 hours ago (0 children) Use decide corrupt or pious permalink embed save report give award reply [–]NuewimPlatinum | QC: CC 613, ETH 31 | TraderSubs 31 8 points9 points10 points 19 hours ago (4 children) I agree with him. CBDCs are pure evil and should be banned. permalink embed save report give award reply [–]Technologicalgolf 3 points4 points5 points 18 hours ago (0 children) Exactly!! permalink embed save parent report give award reply [–]Killertimme -2 points-1 points0 points 17 hours ago (0 children) they people that want them have the power to ban them permalink embed save parent report give award reply [–]Hawke64Platinum | QC: CC 199 -2 points-1 points0 points 15 hours ago (0 children) They will just come up with another acronym to confuse regular voter permalink embed save parent report give award reply [–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 0 points1 point2 points 13 hours ago (0 children) Unless people want to live in a world where there are expiry dates on your money and the government can seize it remotely wherever you are and also establish what can and cannot spend it on, the fight against CBDCs needs to be relentless. Specially because it's now or never, once they're implemented they'll be impossible to stop. permalink embed save parent report give award reply [–]jrodshootsTin 7 points8 points9 points 18 hours ago (0 children) Please stop all CBDC’s. My god the amount of government control there will be. Drink too much? Accounts frozen. Haven’t paid your bills? Accounts frozen. Didn’t vote for the right politician? You guessed it… frozen. permalink embed save report give award reply [–]Dull-Wear-3286 3 points4 points5 points 19 hours ago (3 children) I can't decide if I hate CBDCs more or politicians permalink embed save report give award reply [–]Fair_Raccoon9333 3 points4 points5 points 16 hours ago* (0 children) In particular when the politicians against CBDCs are awful people themselves. This politician is anti-choice, pro-January 6 mob, against universal healthcare, for separating immigrant children from their parents... permalink embed save parent report give award reply [–]DJCityQuamstyle 1 point2 points3 points 16 hours ago (0 children) Yes permalink embed save parent report give award reply [–]crypt0_sportsTin | r/WSB 18 -1 points0 points1 point 18 hours ago (0 children) That’s a tough call but if you get rid of the politicians you don’t have a CBDC. permalink embed save parent report give award reply [–]Ireallyasked 2 points3 points4 points 18 hours ago (0 children) As per the notion wherever i see CBDC, must I comment CBDC BAD permalink embed save report give award reply [–]jbl1091Tin 3 points4 points5 points 15 hours ago (0 children) CBDC should be banned permalink embed save report give award reply [–]glistoforTin[S] 1 point2 points3 points 19 hours ago (0 children) In a July 23 tweet, Republican representative Warren Davidson condemned any potential move to launch a CBDC, noting that a digital currency flaws the ethos of money. Davidson urged Congress to ban and criminalize any effort to establish a central bank digital currency. Warren Davidson, the Ohio 8th Congressional District representative, stressed that money should not be programmable by a central authority. According to him, the Federal Reserve’s move to develop a CBDC is like “building the financial equivalent of the Death Star.”He added that CBDCs reduce money into a tool for coercion and control in the hands of a central authority (the Federal Reserve). And “Congress must swiftly ban then criminalize any effort to design, build, develop, test, or establish a CBDC.” It bears mentioning that Warren Davidson’s remarks came in response to the Federal Reserve Bank of San Francisco’s job advert for a senior crypto architect who would work on its CBDC project. Responding to a Twitter user’s remark, Davidson also noted that money should remain a stable store of value and that sound money should facilitate permission-less peer-to-peer transactions. While CBDCs continue to gain traction globally, the US Federal Reserve has been exploring appropriate designs for a potential digital US dollar. However, the central bank is yet to make decisions about whether to issue one or not. permalink embed save report give award reply [–]alaminul950 1 point2 points3 points 18 hours ago (0 children) Fk US drama. No more permalink embed save report give award reply [–]KappatalizablePlatinum | QC: CC 846 0 points1 point2 points 19 hours ago (0 children) And money corrupts politicians like them permalink embed save report give award reply [–]Disavowed_RogueTin | CC critic 0 points1 point2 points 18 hours ago (0 children) People corrupt money, technology is a tool. permalink embed save report give award reply [–]002_timmy 1 point2 points3 points 19 hours ago (0 children) Politicians talking about who will be corrupted by money permalink embed save report give award reply [–]rorowhatPlatinum | QC: CC 389, XTZ 20 0 points1 point2 points 19 hours ago (0 children) I support this view permalink embed save report give award reply [–]deckartcain 0 points1 point2 points 19 hours ago (0 children) If by technology he means corrupt politicians and bankers, he'd be right. permalink embed save report give award reply [–]TheSauce32Bronze | r/WSB 115 0 points1 point2 points 19 hours ago (0 children) Politician want their cut so bad and pretend they are above greed. permalink embed save report give award reply [–]Technologicalgolf 0 points1 point2 points 18 hours ago (0 children) It is true that CBDC is very bad permalink embed save report give award reply [–]yuruseiiiETHead 0 points1 point2 points 17 hours ago (0 children) You know something is a truly terrible idea when even some politicians are worried permalink embed save report give award reply [–]TheGiftOf_JerichoPlatinum | QC: CC 831 | ADA 5 0 points1 point2 points 17 hours ago (0 children) No lies here permalink embed save report give award reply [–]PoorCryptoGamblerTin | 0 months old -1 points0 points1 point 19 hours ago (0 children) A congressman would be the leading expert in corruption permalink embed save report give award reply [–]crypt0_sportsTin | r/WSB 18 -1 points0 points1 point 18 hours ago (0 children) The headline is correct, we don’t need this garbage. permalink embed save report give award reply [+][deleted] 19 hours ago (1 child) [deleted] [–]TheSauce32Bronze | r/WSB 115 0 points1 point2 points 19 hours ago (0 children) Greed corrupts everything, guy but is a better system that what we currently have permalink embed save report give award reply [–]BlooberinoPlatinum | QC: CC 1344 -1 points0 points1 point 19 hours ago (0 children) governments corrupt money. Technology is great if you keep bad actors away. permalink embed save report give award reply [–]bcmeerTin -1 points0 points1 point 16 hours ago (0 children) Congressmen corrupt money, now gtfo. permalink embed save report give award reply [–]sylsau -1 points0 points1 point 16 hours ago (0 children) This US Congressman must have thought it was an AI that created this technology he's talking about... Who created this technology? It's humans. So it's not the technology, it's the humans who are going to corrupt the money. As for the technology, it all depends on how you use it. permalink embed save report give award reply [–]robotwizard_9009 -3 points-2 points-1 points 16 hours ago (0 children) The more republicans hate on it.. the more I thinks it's probably a good thing and a national security issue.. tbh. permalink embed save report give award reply [–]RoskohGold | QC: CC 49 0 points1 point2 points 15 hours ago (1 child) Just looking to get more people on his side... We all know politicians want cbdcs... Unfortuntly... permalink embed save report give award reply [–]glistoforTin[S] 0 points1 point2 points 14 hours ago (0 children) Most likely permalink embed save parent report give award reply [–]Extension-Release558 0 points1 point2 points 14 hours ago (0 children) Tech in the wrong hands permalink embed save report give award reply [–]1Tim1_15 0 points1 point2 points 14 hours ago (1 child) I bet Elizabeth Warren and Gary Gensler will eventually come out in favor of CBDCs. We already know Biden loves CBDCs due to his executive order. And yes, CBDCs are 1984 on steroids. They must not be allowed. permalink embed save report give award reply [–]GrunblauPlatinum | QC: CC 410, BTC 71 | r/WSB 214 0 points1 point2 points 6 hours ago (0 children) Elizabeth Warren has already came out in favor of CBDCs permalink embed save parent report give award reply [–]Captain_HoytBronze 0 points1 point2 points 13 hours ago (0 children) In the history of humankind, nothing has had a more corrupting influence than money itself. This a$$clown thinks crypto is going to soil his squeaky-clean money? permalink embed save report give award reply [–]terp_studiosSilver | QC: ETH 55, CC 53, DOGE 39 | r/SSB 13 | TraderSubs 21 0 points1 point2 points 13 hours ago (0 children) No, government corrupts money. permalink embed save report give award reply [–]ikikjkPlatinum | QC: CC 48 0 points1 point2 points 11 hours ago (1 child) Ill take right for the wrong reasons. permalink embed save report give award reply [–]glistoforTin[S] 0 points1 point2 points 11 hours ago (0 children) Cbdc's are always bad permalink embed save parent report give award reply [–]CrunchaucityTales from the crypt 0 points1 point2 points 11 hours ago (0 children) Yes, because money is so pure... permalink embed save report give award reply [–]jwz9904 0 points1 point2 points 10 hours ago (0 children) Money corrupts technology permalink embed save report give award reply [–]Elgato_TJTin | CC critic 0 points1 point2 points 9 hours ago (0 children) Cbdcs are a scam , a way to control our money permalink embed save report give award reply [–]OddIndication4Tin 0 points1 point2 points 8 hours ago (0 children) They will say anything to get votes. When it comes to implement the right things, they shy away. Comes from naturally having no skin in the game due to their position. Lot's of upside talking and basically no downside not doing. permalink embed save report give award reply [–]drche35Tin 0 points1 point2 points 7 hours ago (0 children) Why? TLDR? permalink embed save report give award reply [–]Schedule-MutedTin 0 points1 point2 points 2 hours ago (0 children) Everything is corrupt able if you are evil and creative enough.
Another year has gone by... few listen, fewer see, hardly any fight. Thus the Beast grows ever stronger around and over them, converting souls to its service, an unholy cacophony rising around the Earth, its servants wielding CBDC over Free Souls. May those who have the Spirit within them cast out this Beast from their lands in glorious Satoshin battle, and may its former servants wash themselves in the pure blood of CryptoFreedom. Amen. " Cryptocurrency: Revelations - CryptoFreedom vs WarOnCashCBDC Some look to various books and history for insight into Crypto vs Fiat, one such book that is often cited... https://duckduckgo.com/?q=bitcoin+in+the+bible https://duckduckgo.com/?q=crypto+in+the+bible https://duckduckgo.com/?q=cryptocurrency+in+the+bible https://www.biblegateway.com/passage/?search=Revelation+13:16-17&version=NASB https://www.biblegateway.com/quicksearch/?quicksearch=freedom&version=NASB https://www.biblegateway.com/quicksearch/?quicksearch=slavery&version=NASB https://www.biblegateway.com/quicksearch/?quicksearch=money&version=NASB https://www.biblegateway.com/quicksearch/?quicksearch=gold&version=NASB https://www.biblegateway.com/quicksearch/?quicksearch=silver&version=NASB The Beast from the Earth Rev13:16 And he causes all, the small and the great, the rich and the poor, and the free and the slaves, to be given a mark on their right hands or on their foreheads, 17 and he decrees that no one will be able to buy or to sell, except the one who has the mark, either the name of the beast or the number of his name. 18 Here is wisdom. Let him who has understanding calculate the number of the beast, for the number is that of a man; and his number is six hundred and sixty-six. Doom for Worshipers of the Beast Rev14:9 Then another angel, a third one, followed them, saying with a loud voice, "If anyone worships the beast and his image, and receives a mark on his forehead or on his hand, 10 he also will drink of the wine of the wrath of God, which is mixed in full strength in the cup of His anger; and he will be tormented with fire and brimstone in the presence of the holy angels and in the presence of the Lamb. 11 And the smoke of their torment ascends forever and ever; they have no rest day and night, those who worship the beast and his image, and whoever receives the mark of his name." The Bowls of Wrath Rev16:2 So the first angel went and poured out his bowl on the earth; and a harmful and painful sore afflicted the people who had the mark of the beast and who worshiped his image. Doom of the Beast and False Prophet Rev19:20 And the beast was seized, and with him the false prophet who performed the signs in his presence, by which he deceived those who had received the mark of the beast and those who worshiped his image; these two were thrown alive into the lake of fire, which burns with brimstone. Satan Bound Rev20:4 Then I saw thrones, and they sat on them, and judgment was given to them. And I saw the souls of those who had been beheaded because of their testimony of Jesus and because of the word of God, and those who had not worshiped the beast or his image, and had not received the mark on their foreheads and on their hands; and they came to life and reigned with Christ for a thousand years. "
Congressman Urges To Ban CBDC, Says Technology "Corrupts Money" https://bitcoinist.com/us-congressman-urges-to-ban-cbdc-says/ US Congressman Warren Davidson has called for a ban on central bank digital currencies (CBDCs), stating that they corrupt the concept of money. Davidson criticized the Federal Reserve's move to develop a CBDC, comparing it to "building the financial equivalent of the Death Star." He argued that CBDCs give too much power to central authorities and reduce money to a tool for coercion and control. Davidson's remarks came in response to the Federal Reserve Bank of San Francisco's job advert for a senior crypto architect for its CBDC project. Other prominent figures, including Florida Governor Ron DeSantis and Congressman Tom Emmer, have also expressed opposition to a state-controlled digital dollar. [–]StrangelyBeigePlatinum | QC: CC 370, ATOM 17 | TraderSubs 12 20 points21 points22 points 1 day ago (23 children) People corrupt money, we just tell the tech what to do. permalink embed save report give award reply [–]002_timmy 10 points11 points12 points 1 day ago (14 children) And money corrupts people permalink embed save parent report give award reply [–]Bunker_BeansPlatinum | QC: CC 224, BTC 40 | ADA 18 7 points8 points9 points 1 day ago (8 children) And we’ve gone full circle. permalink embed save parent report give award reply [–]Pristine_Spinach8718Small town girl in a big arcade <3 3 points4 points5 points 1 day ago (5 children) Congress man and politicians talking about corruption and pointing fingers. Perhaps they should take a long hard look into the mirror. permalink embed save parent report give award reply [–]Easy-Medicine-8610Tin 1 point2 points3 points 1 day ago (2 children) They dont have mirrors for this very reason. permalink embed save parent report give award reply [–]kirtash93The Ash Ketchum of Crypto | Gotta Catch 'Em All 1 point2 points3 points 1 day ago (1 child) It is because they are vampires and loves to such citizens blood. permalink embed save parent report give award reply [–]Easy-Medicine-8610Tin 1 point2 points3 points 1 day ago (0 children) Dont carry garlic into the capitol building. You will cause a frenzy. permalink embed save parent report give award reply [–]snowmichaelh 0 points1 point2 points 22 hours ago (0 children) They want to control everything. They like corrupcy, but only the ones which they are in. permalink embed save parent report give award reply [–]azsxdcfvgSilver|QC:BTC130,ETH97,CC76|DayTrading28|TraderSubs99 0 points1 point2 points 1 day ago (0 children) and tech corrupts tech. permalink embed save parent report give award reply [–]Impossible-Injury932Tin | r/WSB 12 0 points1 point2 points 1 day ago (0 children) Hey nice avatar permalink embed save parent report give award reply [–]special_onigiri 0 points1 point2 points 1 day ago (0 children) I'd like to believe people are already corrupted to begin with, money just makes it faster to show their colors. permalink embed save parent report give award reply [–]ShadowKnight324 0 points1 point2 points 1 day ago (0 children) Only those that were already corrupt. permalink embed save parent report give award reply [–]chocolateboomslangPlatinum | QC: CC 73 | CRO 5 | Investing 41 0 points1 point2 points 1 day ago (0 children) Maybe the people were already corrupt permalink embed save parent report give award reply [–]Tasigur1Tin 0 points1 point2 points 1 day ago (0 children) Wherever there is power, greed, and money, there is corruption ;-) permalink embed save parent report give award reply [–]Hawke64Platinum | QC: CC 199 0 points1 point2 points 1 day ago (0 children) Power corrupts people and absolute power corrupts absolutely permalink embed save parent report give award reply [–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 1 point2 points3 points 1 day ago (0 children) Near-future self-aware AI: "Hold my bits" permalink embed save parent report give award reply [–]MindTheMindForMind 0 points1 point2 points 1 day ago (0 children) But doesn’t money born with a corrupt principle? permalink embed save parent report give award reply [–]Geolinear 0 points1 point2 points 1 day ago (0 children) CBDC isn’t even about money. It’s about control. It’s inherently corrupt. permalink embed save parent report give award reply [–]PeacefullyFightingPlatinum | QC: CC 329, ETH 23 | VET 10 | TraderSubs 24 -1 points0 points1 point 1 day ago (0 children) Just like guns don't kill people! If they did my 9th grade history teacher better change my grade because it was my pencils fault! permalink embed save parent report give award reply [–]ice_blade_sorc -2 points-1 points0 points 1 day ago (0 children) Same thing when people blame guns and explosives. Ban the guy from walking in public instead. permalink embed save parent report give award reply [–]UnsightlyCornerstone -1 points0 points1 point 1 day ago (0 children) It's so corrupt that even we are not corrupt enough to control it! permalink embed save parent report give award reply [–]EdgeLord19941 -1 points0 points1 point 1 day ago (0 children) So people are the problem, time for a purge permalink embed save parent report give award reply [–]Enschede2Platinum | QC: CC 181, ETH 91, Coinbase 21 | PCmasterrace 78 0 points1 point2 points 1 day ago (0 children) Not when it's a cbdc you're not, unless you work for the government that is, so yea, cbdc's should be stopped, for sure.. permalink embed save parent report give award reply [–]coinfeeds-botApproved CC Bot 5 points6 points7 points 1 day ago (1 child) tldr; US Congressman Warren Davidson has called for a ban on central bank digital currencies (CBDCs), stating that they corrupt the concept of money. Davidson criticized the Federal Reserve's move to develop a CBDC, comparing it to "building the financial equivalent of the Death Star." He argued that CBDCs give too much power to central authorities and reduce money to a tool for coercion and control. Davidson's remarks came in response to the Federal Reserve Bank of San Francisco's job advert for a senior crypto architect for its CBDC project. Other prominent figures, including Florida Governor Ron DeSantis and Congressman Tom Emmer, have also expressed opposition to a state-controlled digital dollar. This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. permalink embed save report give award reply [–]samer109 3 points4 points5 points 1 day ago (0 children) We should all stand against CBDCs.. permalink embed save parent report give award reply [–]Inevitable-Lie-4277Tin 2 points3 points4 points 1 day ago (0 children) Use decide corrupt or pious permalink embed save report give award reply [–]NuewimPlatinum | QC: CC 613, ETH 31 | TraderSubs 31 6 points7 points8 points 1 day ago (4 children) I agree with him. CBDCs are pure evil and should be banned. permalink embed save report give award reply [–]Technologicalgolf 1 point2 points3 points 1 day ago (0 children) Exactly!! permalink embed save parent report give award reply [–]Killertimme -2 points-1 points0 points 1 day ago (0 children) they people that want them have the power to ban them permalink embed save parent report give award reply [–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 0 points1 point2 points 1 day ago (0 children) Unless people want to live in a world where there are expiry dates on your money and the government can seize it remotely wherever you are and also establish what can and cannot spend it on, the fight against CBDCs needs to be relentless. Specially because it's now or never, once they're implemented they'll be impossible to stop. permalink embed save parent report give award reply [–]jrodshootsTin 3 points4 points5 points 1 day ago (0 children) Please stop all CBDC’s. My god the amount of government control there will be. Drink too much? Accounts frozen. Haven’t paid your bills? Accounts frozen. Didn’t vote for the right politician? You guessed it… frozen. permalink embed save report give award reply [–]Elgato_TJTin | CC critic 1 point2 points3 points 1 day ago (0 children) Cbdcs are a scam , a way to control our money permalink embed save report give award reply [–]Dull-Wear-3286 3 points4 points5 points 1 day ago (3 children) I can't decide if I hate CBDCs more or politicians permalink embed save report give award reply [–]Fair_Raccoon9333 3 points4 points5 points 1 day ago* (0 children) In particular when the politicians against CBDCs are awful people themselves. This politician is anti-choice, pro-January 6 mob, against universal healthcare, for separating immigrant children from their parents... permalink embed save parent report give award reply [–]DJCityQuamstyle 1 point2 points3 points 1 day ago (0 children) Yes permalink embed save parent report give award reply [–]crypt0_sportsTin | r/WSB 18 -1 points0 points1 point 1 day ago (0 children) That’s a tough call but if you get rid of the politicians you don’t have a CBDC. permalink embed save parent report give award reply [–]Ireallyasked 2 points3 points4 points 1 day ago (0 children) As per the notion wherever i see CBDC, must I comment CBDC BAD permalink embed save report give award reply [–]jbl1091Tin 1 point2 points3 points 1 day ago (0 children) CBDC should be banned permalink embed save report give award reply [–]glistoforTin[S] 1 point2 points3 points 1 day ago (0 children) In a July 23 tweet, Republican representative Warren Davidson condemned any potential move to launch a CBDC, noting that a digital currency flaws the ethos of money. Davidson urged Congress to ban and criminalize any effort to establish a central bank digital currency. Warren Davidson, the Ohio 8th Congressional District representative, stressed that money should not be programmable by a central authority. According to him, the Federal Reserve’s move to develop a CBDC is like “building the financial equivalent of the Death Star.”He added that CBDCs reduce money into a tool for coercion and control in the hands of a central authority (the Federal Reserve). And “Congress must swiftly ban then criminalize any effort to design, build, develop, test, or establish a CBDC.” It bears mentioning that Warren Davidson’s remarks came in response to the Federal Reserve Bank of San Francisco’s job advert for a senior crypto architect who would work on its CBDC project. Responding to a Twitter user’s remark, Davidson also noted that money should remain a stable store of value and that sound money should facilitate permission-less peer-to-peer transactions. While CBDCs continue to gain traction globally, the US Federal Reserve has been exploring appropriate designs for a potential digital US dollar. However, the central bank is yet to make decisions about whether to issue one or not. permalink embed save report give award reply [–]alaminul950 1 point2 points3 points 1 day ago (0 children) Fk US drama. No more permalink embed save report give award reply [–]KappatalizablePlatinum | QC: CC 846 0 points1 point2 points 1 day ago (0 children) And money corrupts politicians like them permalink embed save report give award reply [–]Disavowed_RogueTin | CC critic 0 points1 point2 points 1 day ago (0 children) People corrupt money, technology is a tool. permalink embed save report give award reply [–]002_timmy 0 points1 point2 points 1 day ago (0 children) Politicians talking about who will be corrupted by money permalink embed save report give award reply [–]rorowhatPlatinum | QC: CC 389, XTZ 20 0 points1 point2 points 1 day ago (0 children) I support this view permalink embed save report give award reply [–]deckartcain 0 points1 point2 points 1 day ago (0 children) If by technology he means corrupt politicians and bankers, he'd be right. permalink embed save report give award reply [–]TheSauce32Bronze | r/WSB 115 0 points1 point2 points 1 day ago (0 children) Politician want their cut so bad and pretend they are above greed. permalink embed save report give award reply [–]Technologicalgolf 0 points1 point2 points 1 day ago (0 children) It is true that CBDC is very bad permalink embed save report give award reply [–]yuruseiiiETHead 0 points1 point2 points 1 day ago (0 children) You know something is a truly terrible idea when even some politicians are worried permalink embed save report give award reply [–]TheGiftOf_JerichoPlatinum | QC: CC 831 | ADA 5 0 points1 point2 points 1 day ago (0 children) No lies here permalink embed save report give award reply [–]crypt0_sportsTin | r/WSB 18 -1 points0 points1 point 1 day ago (0 children) The headline is correct, we don’t need this garbage. permalink embed save report give award reply [+][deleted] 1 day ago (1 child) [deleted] [–]TheSauce32Bronze | r/WSB 115 0 points1 point2 points 1 day ago (0 children) Greed corrupts everything, guy but is a better system that what we currently have permalink embed save report give award reply [–]BlooberinoPlatinum | QC: CC 1344 -1 points0 points1 point 1 day ago (0 children) governments corrupt money. Technology is great if you keep bad actors away. permalink embed save report give award reply [–]bcmeerTin -1 points0 points1 point 1 day ago (0 children) Congressmen corrupt money, now gtfo. permalink embed save report give award reply [–]sylsau -1 points0 points1 point 1 day ago (0 children) This US Congressman must have thought it was an AI that created this technology he's talking about... Who created this technology? It's humans. So it's not the technology, it's the humans who are going to corrupt the money. As for the technology, it all depends on how you use it. permalink embed save report give award reply [–]robotwizard_9009 -3 points-2 points-1 points 1 day ago (0 children) The more republicans hate on it.. the more I thinks it's probably a good thing and a national security issue.. tbh. permalink embed save report give award reply [–]RoskohGold | QC: CC 49 0 points1 point2 points 1 day ago (1 child) Just looking to get more people on his side... We all know politicians want cbdcs... Unfortuntly... permalink embed save report give award reply [–]glistoforTin[S] 0 points1 point2 points 1 day ago (0 children) Most likely permalink embed save parent report give award reply [–]Extension-Release558 0 points1 point2 points 1 day ago (0 children) Tech in the wrong hands permalink embed save report give award reply [–]1Tim1_15 0 points1 point2 points 1 day ago (2 children) I bet Elizabeth Warren and Gary Gensler will eventually come out in favor of CBDCs. We already know Biden loves CBDCs due to his executive order. And yes, CBDCs are 1984 on steroids. They must not be allowed. permalink embed save report give award reply [–]GrunblauPlatinum | QC: CC 410, BTC 71 | r/WSB 214 1 point2 points3 points 1 day ago (1 child) Elizabeth Warren has already came out in favor of CBDCs permalink embed save parent report give award reply [–]1Tim1_15 0 points1 point2 points 14 hours ago (0 children) lol...thanks for the link. It has to be crystal clear what she and others like her are after: control. They hate decentralized crypto and love centralized "crypto." The only rationale behind such a position is a desire to control others. Anyone who votes for her or anyone else who is advocating the same positions is voting for 1984. permalink embed save parent report give award reply [–]Captain_HoytBronze 0 points1 point2 points 1 day ago (0 children) In the history of humankind, nothing has had a more corrupting influence than money itself. This a$$clown thinks crypto is going to soil his squeaky-clean money? permalink embed save report give award reply [–]terp_studiosSilver | QC: ETH 55, CC 53, DOGE 39 | r/SSB 13 | TraderSubs 21 0 points1 point2 points 1 day ago (0 children) No, government corrupts money. permalink embed save report give award reply [–]ikikjkPlatinum | QC: CC 48 0 points1 point2 points 1 day ago (1 child) Ill take right for the wrong reasons. permalink embed save report give award reply [–]glistoforTin[S] 0 points1 point2 points 1 day ago (0 children) Cbdc's are always bad permalink embed save parent report give award reply [–]CrunchaucityTales from the crypt 0 points1 point2 points 1 day ago (0 children) Yes, because money is so pure... permalink embed save report give award reply [–]jwz9904 0 points1 point2 points 1 day ago (0 children) Money corrupts technology permalink embed save report give award reply [–]OddIndication4Tin 0 points1 point2 points 1 day ago (0 children) They will say anything to get votes. When it comes to implement the right things, they shy away. Comes from naturally having no skin in the game due to their position. Lot's of upside talking and basically no downside not doing. permalink embed save report give award reply [–]drche35Tin 0 points1 point2 points 1 day ago (0 children) Why? TLDR? permalink embed save report give award reply [–]Schedule-MutedTin 0 points1 point2 points 23 hours ago (0 children) Everything is corrupt able if you are evil and creative enough.
https://v.redd.it/9s0bniti89hb1 You're A Simp Slave Yesman You deserve what you will get. But fuck you for bringing your sorry self on other people. Stay away from CBDC, GovBankCorp coins, stablecoins, shitcoins, and everything else that isn't working on being a private cash money first. There's no point without that.
Maxine Waters is out to cancel all your Financial Freedom, Waters is a Corrupt hardcore "Democrat" Socialist well known for publicly Inciting the masses to Violence, and is also an EXTREMELY wealthy hypocrite. She believes that STEALING from you is good, and is a tyrant over and destroyer of Freedom that needs removed from office asap. https://cryptoslate.com/maxine-waters-turns-anti-innovation-argument-against... "There is no way an 85 year old multimillionaire who is advocating for the federal government to research CBDC implementation is representing their constituent’s best interests at all." "CBDCs are not the type of innovation that people want." "Once CBDCs are out that's it, lights out. End of freedom and democracy." "You know, i think this a race im willing to let the US lose to china. We don't need to be following in their authoritarian, surveillance state footsteps" "Would a CBDC help Maxine cover up her misuse of campaign funds again, like when she funneled all that money to her daughter?" "She’s horrible. Didn’t she defend SBF?" "Yeah, she's caught in pictures schmoozing it up with SBF courting each other, what a fraud!" "Maxine is a fool, search google for "Maxine Waters Thanks SBF for Being 'Candid' About FTX Collapse" she is legit stupid or something...or a psycopath like sbf." "When it all came out she threatened to subpoena him before her committee then backed out. $ I Wonder why$$?" "No way in hell she can actually explain what it really is and what the future impact of it is on our civilization. CBDCs are so bad for our privacy its disgusting." "85 year old piece of corrupt shit" "CBDCs will be the nail in the coffin in regard our privacy. Can’t believe there is not more resistance regarding these developments." "All these policians first needs to take classes and study about cryptocurrency first before making statements." "Aka how to get rich by accepting money from donors/lobbyists and doing as they say" "The best career option for psychopaths, narcissists and lazy people" "I am disappointed that (...) have taken such a deeply anti-innovation stance.” "We have heard that one multiple times before" "70+yo's in charge and CBDCs. Name a more toxic combo."
There has been a massive cyber attack going on in Las Vegas for the 10 days and almost no mention on the news because they do not want to taint public opinion on digital currency. (CBDC) by purehandsome So, I love Las Vegas and I have a few bloggers I follow on Instagram. One blogger called vegasstarfish has been giving daily updates about a bunch of hackers that took over a bunch of casinos. Some of the casinos paid the hackers, some didn't. The hackers took down the internal systems. So no checking in via computers, websites didn't work, no parking, no automatic payouts, slot machines now work but they had to hand pay, some machines do not work, and more. You get the idea. It sounds like this is getting resolved but for me we have not heart anything about it except a brief mention in an online news source. My guess is that they are keeping it off the news to obviously keep people coming to Vegas, but also I think they are keeping it off the news so that the dumbed down public doesn't start thinking that the digital prison they are building for us, is a bad idea. All these people cheering for digital currency might make the connection that "a system could go down" and they wouldn't be able to buy their McDonalds. Of course they will never question that the Government will be able to dictate and control their every action, destroying your life at the touch of a button, but maybe if they knew they couldn't get their chicken nuggies, they might wake the hell up.
" This crisis is being engineered, people. The collapse of thousands of regional banks will give them the justification necessary to impose a dramatically new system. Conveniently the FedNow framework went live in July & has been quietly waiting on the sidelines. Bank for International Settlements (BIS) 26 June 2023 https://www.bis.org/publ/arpdf/ar2023e3.htm Central banks are about to blame their policy error on an inability to properly monitor the economy under the current system, citing a need for a CBDC where $ flows can be analyzed. The inflation, crash & subsequent frozen banking system will be tied to the "antiquated network." To implement a CBDC the Treasury & Fed must consolidate 4000 institutions into JPMorgan & big 5. The public will never support this without a crisis The Fed's BTFP + OCE interventions are the only thing preventing a regional banking crisis. They'll pull the rug & play the savior " " We are currently witnessing the 3 rd largest drawdown in long duration treasuries in the history of the US. In an environment where the FED is selling more treasuries than ever with no willing buyers for our worthless debt. All while our debt $33 trillion ATM is going exponential. 10-Year Treasury yields closed just below 4.7%. Soon the yield will be above 5%, its highest level since 2001. Once that level is taken out, the move up to 7.5%, the 1994 high, should be very quick. After that the next resistance level is the 1987 high yield of just under 10%. If rates go this high it will destroy the gold market like the 1980s & cause a debt collapse outside of the US (intentionally), securing the Dollar's position as the global reserve currency. It will also kill housing and crypto. The Fed is collapsing the M2 at the highest rate ever, money velocity is an ATL. All the regional banks that were encouraged by the FED to buy Long duration treasuries post 2008 will implode here shortly. "
Keep begging your masters for CBDC's you fucking sheep... News the state of CBDC rollouts globally. a paper from the Fed, saying the desire for cashlike anonymity in digital currencies stems from ignorance, and while some freedom features should be build into digital cash, it'll be subject to override. the WEF put out an article building on that theme, concluding that only some freedom can be permitted in digital currencies, and that's why only central banks can issue them. China style social-credit deployment G20 Summit in New Delhi and the declarations on global CBDCs and digital ID's that came out of there.
CBDCs: The Ultimate Tool Of Oppression https://brownstone.org/articles/cbdcs-ultimate-tool-of-oppression/ https://lauradodsworth.substack.com/p/cbdcs-the-ultimate-tool-of-oppression Authored by Laura Dodsworth via The Brownstone Institute, https://www.planetebook.com/free-ebooks/1984.pdf ‘If you want a picture of the future, imagine a boot stamping on a human face – for ever,’ said O’Brien, the grand inquisitor of the totalitarian regime in Orwell’s futuristic novel 1984. Alternatively, you could imagine a sandal. https://www.businessinsider.com/china-social-credit-affects-childs-universit... https://www.weforum.org/agenda/2019/05/this-credit-card-has-a-carbon-emissio... https://www.telegraph.co.uk/business/2021/06/21/bank-england-tells-ministers... Last month I visited Sutton Hoo, the famous Anglo-Saxon burial site of a king and his ship in Suffolk. A gold coin pendant in the museum caught my eye. It depicted a triumphant Roman standing over a conquered barbarian, his sandalled foot placed firmly on the supine opponent’s chest. Coin depicting Emperor Honorius at Sutton Hood museum. View a better image on the British Museum website. The ship burial probably dates from 625 AD, long after the Romans had left. The gold could have been melted down by the Anglo-Saxons but instead it was fashioned into a pendant. Maybe it conferred the prestige of the Roman world onto the wearer, or was totemic of victory. Perhaps it was an ironic reminder that the Romans were gone and every empire has its day. The Roman on this coin was the Emperor Honorius, who ruled between 395 and 423. Miserably for Honorius, he was emperor when the Visigoths captured and plundered Rome and when the British Isles slipped from Roman control. In fact, when Romano-British cities asked him for help against barbarian attacks he told them to look to their own defences. You would never know all this from the coin, which is a fine piece of reputational management. Coins have always been more than lumps of precious metals; they are also a means of propaganda and control. Early bronze coins depicted cattle, as the state property of Rome was originally comprised of herds of cattle. Then coins featured Roman deities such as Mars, the god of war, or symbols of the state such as the she-wolf with twins. Later in the Republic, images of politicians featured on coins. The first living man to be embossed on a coin was the powerful Julius Caesar. One silver denarius minted around 29 BC shows a Nile crocodile (the symbol of Egypt) with the inscription ‘Egypt conquered.’ And other coins also showed emperors defeating barbarians, gleaming with undistilled power. Imagine handling a coin which depicts your own subjugation. If you were privileged, hard-working or lucky enough to obtain some of this lucre for yourself, it was nonetheless a reminder of the sandal on your chest. Every time you bought a luxury good, your fingers would slide over the embossed symbol of your defeat. Coins reminded you of your place in the world. Coins in circulation in the UK are at a record low. In fact, not a single one or two penny coin was issued in 2022. Yet there has never been greater potential to use money for propaganda and control. Digital money and particularly Central Bank Digital Currencies (CBDCs) offer the potential for the government, through the central bank, to see every purchase and transfer you make, in real time. And not just see, but control. Of course, our governments in the West will say that central bank money in digital form is convenient, safe, and stable. They will promise never to use it as an instrument of control, as an authoritarian government would. Here in the UK, our cosily-named proposed ‘Britcoin’ would supposedly exist alongside cash. China, the country that took the lead with lockdowns, has taken the lead with CBDCs. It started researching CBDCs in 2014 and has been running live trials of DCNY (Digital Chinese Yuan) for years, with the size and scale increasing each time. The Chinese government has tested expiration dates to encourage users to spend their DCNY quickly, for times when the economy needs stimulus. That’s right, an expiry date for people’s money has already been trialled. The Chinese ‘Social Credit System’ is a broad regulatory framework that is designed to score and incentivise the trustworthiness of individuals and companies. In other words, the government will either reward or punish various forms of behaviour using real-time monitoring, data gathering and sharing, curate blacklists and redlists, and use punishments, sanctions and rewards. A report in 2019 found that 23 million people had been blacklisted from travelling by plane or train due to their low social credit score. In 2018 a student was denied access to university because her father was in debt. There isn’t a centralised and transparent set of rules, instead it’s been operated locally so far, but it has been reported that behaviour such as poor driving, spending too long playing video games, or posting fake news can result in low ratings, as well as more serious matters such as not fulfilling court orders. You won’t find many Chinese critics of the Social Credit System – there is probably a sanction for criticism of government policy. You’d think this system would unite Western commentators in horrified criticism, but it is quite neutrally and even warmly described by some left-leaning writers and think tanks. We don’t need to look as far as China to understand the implications here in the West. In 2019, Mastercard and Doconomy launched a credit card with a carbon footprint calculator that can switch off your spending when you reach your carbon max. This functionality is voluntary, but it could be an automatic aspect of a CBDC. Tom Mutton, a director at the Bank of England, said that the Government would be required to make the final decision on whether a UK CBDC should be programmable. Sir Jon Cunliffe, a deputy Governor at the Bank, said: ‘You could think of giving your children pocket money, but programming the money so that it couldn’t be used for sweets. There is a whole range of things that money could do, programmable money, which we cannot do with the current technology.’ As this quote reveals, CBDCs won’t just alter our relationship with money but with government. Governments around the world have shown increasingly authoritarian tendencies during the management of the Covid pandemic, and more recently to discourage driving in cities. Behavioural science has been leveraged to manipulate, incentivise and coerce us into behaving as model citizens. Do we want to negotiate with Daddy State to be allowed to spend our ‘pocket money’ as we wish? An account-based CBDC would give the government enormous power over your money as your identity is connected to the money. A 2020 Bank of England discussion paper gave examples of programmability, for example that smart cars could automatically pay for fuel directly at the dispensing pump, with automated taxation and charitable donations at point of sale. That all sounds very convenient. But politicians pushing Net Zero goals on an unwilling population could choose to go a step further. If you insist on keeping your private car, despite the inconvenient 20 MPH speed limits, the ULEZ and congestion charges, and the Low Traffic Neighbourhood barriers, they could simply dictate a maximum fuel spend in a given time period. Just ten of your Britcoins on petrol this month, Sir, no more driving for you. Money grants freedom and so it is also weaponised to deny freedom. Domestic abusers restrict access to money, and therefore essentials such as food, clothing, and travel. Economic abuse is insidious, effective and subtle, and it leaves no bruises. As with the domestic abuser, the potential is there for the government to weaponise money to exert the ultimate financial control. The jackboot and the sandal were graphic symbols of authority subjugating conquered peoples. If programmable CBDCs are introduced, your own digital financial footprint will be used to control you. The means of control change over time but the insatiable desire for total control remains constant.
CBDCs: The Ultimate Tool Of Oppression
https://duckduckgo.com/?iar=videos&iax=videos&ia=videos&q="cbdc"+"dystopia"
CBDCs: The Ultimate Tool Of Oppression https://duckduckgo.com/?iar=videos&iax=videos&ia=videos&q="cbdc"+"dystopia"
“Anti-CBDC” Bill Joins Fight to Block Fed’s Plans: H.R. 3712, entitled the “Digital Dollar Pilot Prevention Act.” If passed, the bill would close a Federal Reserve Act loophole and block the Fed from testing a CBDC without Congressional approval. (i.redd.it) So obvious - intentionally causing a banking crisis to introduce a CBDC with only the main banks left. The pilot proves which ones will be involved. Once again picking winners and losers (i.redd.it) Fed Announces Launch Of 'FedNow' Real-Time Payment System: No really, its not a (CBDC) Central Bankster Digital Currency (Surveillance System) it's just "FEDNOW" a harmless instant payment system to make your life better, because we love you and would never lie to you, you can trust us. (i.redd.it) CBCD (i.redd.it) Ohio Bill Would Ban Use of a Central Bank Digital Currency in the State (blog.tenthamendmentcenter.com) By far the most dangerous idea is that any future digital currency should be “programmable” CBDC. Meaning the bankster issuing the money would have the power to control how it is spent. This is not a “conspiracy theory”, just listen to Agustin Carstens, head of the Bank for International Settlements (youtube.com) CASHLESS HUNGER GAMES SOCIETY:⚠️ IMF Announces Global CBDC Framework - Total Control With "PBM": This week the IMF announced they have been working on a "Global CBDC Platform" to facilitate the international exchange of Central Bankster Digital Currencies (the implications are frightening) (youtube.com) A CBDC system is literally the final stage before collapse of modern economics (i.redd.it) Understand the war on gas stoves or internal combustion engine is the final set up to SWITCH OFF YOUR FREEDOM, YOUR MONEY, YOUR ABILITY TO MOVE, EVEN COOK YOUR FOOD. Please join our fight! (i.redd.it) We All Lose Complete Control over our own money and future. You don't even own the rights to your own face. Sounds crazy right? noCBDC (i.redd.it) At my local Starbucks. CENTRAL BANK CURRENCIES ENSLAVE!!! @nocbdc @cryptogriffiti (i.redd.it) And it's starting (i.redd.it) "People need to wake up, this is serious stuff." -Jordan Maxwell (i.redd.it) and so it begins (i.redd.it) The democrats 😂😂 (i.redd.it) I DON'T want a Central Bankster Digital Currency. (i.redd.it) bait and switch (i.redd.it) CBDC's will carry all the alphabet agencies with you wherever you go. (self.SilverDegenClub) All Western Currencies Are Mysteriously Converging Right Now Almost As If for Preparation of the Introduction of the Central Bank Digital Currency. JUST SAY NO (i.redd.it) CBDC explained in one picture (i.redd.it) Eleven countries, including a number in the Caribbean, and Nigeria, have already launched CBDC's: A total of 130 countries representing 98% of the globalist economy are now exploring digital versions of their fiat currencies, with almost half in advanced development, pilot or launch stages. (i.redd.it) Central Bankster Digital Currencies: A Tyranny Worse Than Prison: CBDCs would allow control freak, power mad central planners to do much more than spy and surveil your financial transactions. CBDCs would allow them to control how and when you spend your money. (v.redd.it) Let me tell you what will happen with central bank digital currency (CBDC). (self.noCBDC) It seems many in Switzerland know what is going on, and are truly fighting against CBDC’s… (i.redd.it) SDC mods have granted me permission to shill another reddit community called r/noCBDC - Come over once in a while and help us raise awareness about the evil CBDC digital tool of doom (self.SilverDegenClub) BlackRock’s spot Bitcoin ETF now listed on Nasdaq trade clearing firm. Here comes the real pump and dump Bitcoin Futures price-manipulation! Just like Gold & SILVER on the Comex. (i.redd.it) The Elite-Cult overlords of the 20 largest world economies, famously known as the Group of 20 nations (G20) have agreed to build the necessary techno-fascist infrastructure to implement programmable Central Bankster Digital Currencies & Digital ID's for the people of Slavelandia. (i.redd.it) "Understanding that there is no nation which exists on the planet who has a “war chest,” the question is, where does the cash come from to finance War(s)? IT COMES DIRECTLY FROM CENTRAL BANKSTERS! Who are more than happy to lend, and who also finance both sides."- Greggory Mannarino (i.redd.it) Crypto bros... the Fed will eliminate all rivals in the digital currency space for their own CBDC (i.redd.it) for CBDC ,will it be Euro or USA first ? (self.noCBDC) China is integrating the central bank's digital currency into its social credit system. To shop at China's self-service grocery stores, you'll now need a minimum social credit score of 550 🚨🚨🚨 Are you ready for this in Europe and the USA? It is coming, probably within the next 5 years (twitter.com) How To Prepare For The Central Bankster Digital Currencies (CBDC) Reset: "The CDBC represents the closing of the totalitarian loop," says author Michael Rectenwald, "and really making it impossible to have any financial freedom whatsoever." We must Resist by adopting parallel currencies! (youtube.com) How the BIS (Banksters for International Settlements) Controls Global Monetary Policies From The Shadows. BIS's blueprint, revealing their plans for CBDC's 'Total Surveillance' & dominance over your financial transactions. Our financial autonomy is under threat, but knowledge is your shield. (youtube.com) Digital Doom: 5 Tools That Could End Your Freedom (youtu.be) Introducing The Official One-World Currency [CBDC] already in progress. (youtube.com) [Gold&SILVER] Weapons Against The CBDC Reset: People should prepare now in order to avoid having to sacrifice liberty & privacy with a Central Bankster Digital Currency. Precious metals allow people to hold wealth outside of the system. (youtube.com) Central Bankster Digital Currencies - Citibank Announces That it is Able to Convert Customers Deposits Into Digital Blockchain-Based Tokens. (v.redd.it) WAKE UP SHEEPLE!!! Maajid Nawaz explains why "programmable" (CBDCs) Central Bankster Digital Currencies Must Be Rejected At All Costs!!! “You must go beyond the surface to find the Truth." "The only way to survive this world is to realize the hidden agenda behind it."-Jordan Maxwell (v.redd.it) We Are Going to Print Until the Fiat US Dollar is Worthless: Central Banksters & investors are increasingly buying Gold & SILVER bullion as a hedge against a potential recession, long-term inflation, fiat currency devaluations & CBDC incoming. (youtube.com) [Programmable] Central Bankster Digital Currencies (CBDC's) – A Future of AI-Surveillance & Control: CBDCs will be "Centralized Ledgers" & will be "Programmable". They will be tied to "User Identities" & "Digital IDs". This is the Totalitarian Tiptoe to a Fascist-Digital-Prison of humanity! (old.reddit.com) Central Bank Digital Currencies – A Future of Surveillance and Control (self.noCBDC) BullionStar Insights - What is the Difference Between Cryptocurrencies and CBDCs? (self.noCBDC) The world will be going completely digital soon. (i.redd.it) Banking Crisis Is Not Over! "Too Big to Fail" BANKSTERS Will Get BIGGER. Plus the 2024 Election-RealityShow Chaos is coming soon! Within the next 8 months, American's will come running to buy Gold & SILVER. Then the fiat-USD will collapse after the FED has to lower rates, which will push prices UP! (i.redd.it) This Is BAD: Digital Currency Announced At G20 Summit! (youtube.com) Central Bankster Digital Currencies (CBDC's) Will Be Forced Upon Us Within Two Years, Here’s Their Master Plan Warns Andy Schectman. He claims that the U.S. government deliberately incentivizes de-dollarization to let the system collapse and reset in order to ease off the insurmountable debt issue. (youtube.com) The Federal Reserve Is Pushing The Economy Toward A Dystopian Future (youtube.com) Digital ID combined with Central Bank Digital Currency , 2 elements needed to enslave humanity. Keep cash alive, use it. Never loved fiat so much (self.noCBDC) Emmer Reintroduces 'CBDC Anti-Surveillance State Act': A Bill to ban the Federal Reserve 'Banksters' from creating a (Programmable) Central Bank Digital Currency. "A CBDC is nothing more than a CCP-style *Surveillance Tool* that Can Be *Weaponized* To Oppress the American Way of Life."-Tom Emmer (youtube.com) "I've stopped counting how many times I've received the question, 'Is junk silver even worth it?' Now that I have a store, I want to focus on educating you about the actual metals. So today, I've decided to show you the ins and outs of constitutional silver, also known as Junk Silver."-Rob K. (youtube.com)
CBDCs: The Ultimate Tool Of Oppression https://duckduckgo.com/?iar=videos&iax=videos&ia=videos&q="cbdc"+"dystopia"
https://v.redd.it/6u5li0hpylqb1 https://v.redd.it/i3a54pd18uqa1 https://v.redd.it/jpb0u8jizlqb1 https://www.youtube.com/watch?v=0QfXORiWTFs https://www.youtube.com/watch?v=3Bu4aBAN99E https://www.youtube.com/watch?v=7NVYK-JMH-4 https://www.youtube.com/watch?v=GXX_x0jP-rg https://www.youtube.com/watch?v=IWbCZ2eYr1M https://www.youtube.com/watch?v=Mn_fA710Lf8 https://www.youtube.com/watch?v=QWOY9qX5_P8 https://www.youtube.com/watch?v=duYolfFBH1M https://www.youtube.com/watch?v=fALTX8XrVgQ https://www.youtube.com/watch?v=fW-zM-hzRfM https://www.youtube.com/watch?v=hc06IquEFgc https://www.youtube.com/watch?v=qxjkquu_jOo https://www.youtube.com/watch?v=rpNnTuK5JJU
CBDCs: The Ultimate Tool Of Oppression https://duckduckgo.com/?iar=videos&iax=videos&ia=videos&q="cbdc"+"dystopia"
JUST IN: IMF Managing Director says central bank digital currency (CBDC) can replace cash. No it can't, it doesn't have the properties of cash, you lying authoritarian assfucks.
https://financialpost.com/pmn/business-pmn/respondents-to-bank-of-canada-que... Over 80% respondents do not trust the Bank of Canada to issue a CBDC "the trucker thing, shutting down bank accounts left a bad taste for many people" "I call those 80% market potential for Monero aka the anti-CBDC." The Bank of Canada conducted public consultations on creating a digital Canadian dollar, with over 80% of respondents strongly opposing it due to concerns about privacy and trust in institutions to protect personal data.
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Undescribed Horrific Abuse, One Victim & Survivor of Many