Cryptocurrency: CBDC Digital Fiat WARNING BELLS GOING OFF

[grarpamp]

> Are you fucking awake yet, because you sound like
> a bunch of sleeping sheep.

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-clothing/
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?



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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
>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
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
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carefully the risks involved, including those described below. If you
have any doubt as to suitability or taxation implications, seek
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General - Your capital is at risk when you invest, never risk more
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Overseas shares - Some recommendations may be denominated in a
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Bonds - Investing in bonds carries interest rate risk. A bondholder
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If the market interest rate rises from the date of the
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Capital gains from commodities are subject to capital gains tax. Tax
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The Financial Conduct Authority does not regulate certain activities,
including the buying and selling of commodities such as gold, and
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not have the protection of the Financial Ombudsman Service or the
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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
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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%