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Thread: Biggest Threat To Financial Freedom is CBDC

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    Peru Avalon Member
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    Default Re: Biggest Threat To Financial Freedom is CBDC

    Some really dark times are coming...I'm not scared but a lil curious on how all the sheeps are gonna react when they realize all that the "tin foil hat conspiracy theory whackos" were right.
    There's light at the end of the tunnel though, be prepared for anything.
    I think aliens will finally make its appearance to put some order when all this **** goes down, haha.
    There is HOPE...❤
    Last edited by nzn; 2nd December 2022 at 09:53.

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    Avalon Member TrumanCash's Avatar
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    Default Re: Biggest Threat To Financial Freedom is CBDC

    Quote Posted by Forever (here)
    Quote Posted by TrumanCash (here)
    I did check into Bitcoin and there are very few people or businesses that will accept it for products. Most people use it for an "investment" and not to use for currency. I have a friend who put his eggs into the digital currency basket (hoping to get rich) and now he is desperate to pay the rent, etc.

    Hopium buys nothing. Cash in hand, especially tangible cash with intrinsic value, is much more useful than hopium.
    This just isn’t true though…Amazon, Microsoft, Burger King are three companies that I can name right off the bat that accept Bitcoin as payment. Yes, most people atm see it as a store of value but the list of merchants that accept BTC as payment is growing rapidly.
    Yes, and all three of those companies are part of the scamdemic/Great Reset globalist agenda of killing people and making them sick and obedient to the New World Odor. Burger King's food is unhealthy. Why support manipulative globalist billionaires who are working against humanity?

    The grocery store does not accept Bitcoin. The hardware store does not accept Bitcoin. I even offered gold and silver coin for Bitcoin that a friend of mine had and he turned it down because he is waiting to get rich on Bitcoin and didn't want to part with any of it.

    The Orwellian globalists will use Bitcoin against the people. Bitcoin is intangible and therefore does not exist except in the minds of those believe it exists. Technology is being used against us by the globalists like Bezos. In my area many people are boycotting Amazon because it makes small local businesses go out of business.

    It is also unconstitutional. The Constitution is what keeps the psychopaths in check, but it is not even followed by "We the People" any more. Belief in digital currencies are the pathway to slavery. Payment with Bitcoin to Amazon, for example, means that your purchase and information will be tracked. Good luck with your social credit score! LOL!

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    Default Re: Biggest Threat To Financial Freedom is CBDC

    How CBCD is connected with the coming crisis in food shortages in this 3 part discussion featuring whistleblower David DuByne that also covers changes in weather, earth changes, etc. posted here:
    https://projectavalon.net/forum4/sho...=1#post1530707
    Each breath a gift...
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    Default Re: Biggest Threat To Financial Freedom is CBDC

    All of that as maybe, but to say that are “very few business that will except Bitcoin” is as I originally pointed out, simply not true.

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    Default Re: Biggest Threat To Financial Freedom is CBDC

    Why shouldn't we simply assume Crypto came out of DARPA ( at great expense to American tax payers ) ?

    Facebook did.

    Probably very many of the huge landmarks of our time did.
    ..................................................my first language is TYPO..............................................

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    Default Re: Biggest Threat To Financial Freedom is CBDC

    Quote Posted by norman (here)
    Why shouldn't we simply assume Crypto came out of DARPA ( at great expense to American tax payers ) ?

    Facebook did.

    Probably very many of the huge landmarks of our time did.
    people that are "invested" in sh1tcoins don't want to have any second thoughts, simply as that haha
    --
    A chaos to the sense, a Kosmos to the reason.

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    Default Re: Biggest Threat To Financial Freedom is CBDC

    I don’t think the tbtb are driving the adoption of crypto hard enough for it to be a Trojan horse for them. Let’s face it, they’re rarely subtle about anything they wish to enforce/disseminate. Crypto has historically and still faces constant rejection and resistance from legacy finance and current banking systems. It has never been supported by the msm. On the contrary, any news about crypto is usually centred around people losing money. CBDC in my opinion, is their attempt at closing the stable door after the horse has bolted. It will be interesting to see how much support from msm CBDC gets in comparison to decentralised finance.

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    Lightbulb Re: Biggest Threat To Financial Freedom is CBDC

    • The Danger of CBDC - Catherine Austin Fitts ... Very Important Presentation in The Netherlands 🇳🇱 FvD International

    twitter.com/FVD_Intl
    facebook.com/FFDInternational
    fvdinternational.com
    instagram.com/fvd_intl
    • CBDCs | Central Bank Digital Currencies In 15 Minutes & 34 Seconds | "It Will Be Implanted UNDER YOUR SKIN." - Professor Richard Werner + Featuring: Carlson, Beck, C. Fitts, Kiyosaki, Agustín Carstens, Richard Werner & Ye


    CBDCs | Programmable Central Bank Digital Currencies Explained In 13 Minutes & 56 Seconds Version | "It Will Be Implanted UNDER YOUR SKIN." - Professor Richard Werner +
    CBDCs Featuring: Tucker Carlson, Glenn Beck, C. Fitts, Robert Kiyosaki, Agustín Carstens, Richard Werner & Ye

    The Truth About Executive Order 14067 & Central Bank Digital Currencies - timetofreeamerica.com/eo-14067/#scroll-content

    The Truth About the BRICS (Brazil, Russia, India, China & South Africa) Plan to Introduce a New Gold-Backed Programmable Central Bank Digital Currency - brics/#scroll-content

    BRICS Nations Discussing Introduction Of Single Currency To Ease Trade, Says Russian Envoy - READ: Rest-of-the-world-news/brics-nations-discussing-introduction-of-single-currency-to-ease-trade-says-russian-envoy-articleshow.html

    Last edited by ExomatrixTV; 12th December 2022 at 18:14.
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    Default Re: Biggest Threat To Financial Freedom is CBDC

    Gen. Flynn: Digital vax card and digital currency are coming soon
    Thursday, December 15, 2022 by: Kevin Hughes

    https://www.naturalnews.com/2022-12-...ming-soon.html





    Gen. Michael Flynn, former advisor to former President Donald Trump, warned that the digital vaccine ID and the digital currency are coming soon.

    He issued this warning during a recent appearance on the “Flyover Conservatives” podcast with David and Stacy Whited. Flynn told the couple that Americans have to understand there is a strategic effort going on to take over the country. Given this, he urged the people to pay attention to the New World Order, the World Economic Forum and the digital currency because they are very real.

    According to the former Trump advisor, all the member countries of the Group of 20 (G20) gave a stamp of approval to the U.S. to become the lead country for the digital vaccine ID. This is in line with Executive Order 14067 signed by incumbent President Joe Biden in March, which the U.S. government implemented starting Dec. 13. (Related: Federal Reserve set to introduce privacy-crushing digital currency that can be ‘controlled’ and ‘programmed’ by government bureaucrats.)

    “They will implement that in a series of phases. Principally it will be inside of the government at first to run departments, agencies, activities and commissions to use digital form of digital currency. But I think it’s probably a year to a year and a half away from where we’re going to have sort of an element of control over our lives through the way that we spend our money or the type of money that we’re able to spend,” Flynn said.

    China shining example for digital currency implementation

    According to Flynn, the digital currency planned by the U.S. would be similar to China’s model – with Stacy agreeing with his sentiment.

    He elaborated that the government will use carbon footprint and environmental-social-governance (ESG) scores, which they will force the American people to have. Corporations will be forced to adopt them, and most individuals are going to end up with some type of digital fingerprint.

    Flynn said people are going to find that this is the kind of conversation that they are going to have to find themselves in.

    “It’s not going to happen within the next 30 days. But it’s going to happen over the next probably two years, certainly the next couple of years here. The [digital vaccine] card is real. This digital currency is very real. You can go and read about them online,” he said.

    The former U.S. Army general mentioned that the national security strategy, national military strategy and national economic strategy will also tell people the direction that America is heading under the current administration.

    With the topic turning to politics, Flynn noted the American people now have a lack of confidence in the country’s election system. While stressing that he is not an election denier, Flynn refused to acknowledge that the American election system and election processes are fair.

    “America is going through a repeat of the 2020 election where a lot has happened and there’s a lot of evidence that shows a stolen election,” he said.

    Watch Gen. Michael Flynn commenting about the digital currency and vaccine card below.

    https://www.brighteon.com/e3775b8d-3...2-e21398bb0306
    ..................................................my first language is TYPO..............................................

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    Default Re: Biggest Threat To Financial Freedom is CBDC

    Rebecca Walser on The Federal Reserve's FedNow Digital Currency Coming Between May and July of 2023
    By Brannon Howse Live, 12 December, 2022

    https://frankspeech.com/video/rebecc...-and-july-2023


    VIDEO at LINK
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    Exclamation Re: Biggest Threat To Financial Freedom is CBDC

    • General Flynn: Digital Vax Card & Digital Currency Are Coming Soon!
    Source: https://www.brighteon.com/embed/e3775b8d-35e0-4aaa-90f2-e21398bb0306
    No need to follow anyone, only consider broadening (y)our horizon of possibilities ...

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    Default Re: Biggest Threat To Financial Freedom is CBDC

    • As governments globally are on the precipice of introducing digital IDs, do we need to worry that the same technology used to impede our freedom with vaccine passports will now be used to control every element of our lives? Spoiler alert, we do ... #cbdc and mass #surveillance

    Herd Mentality + imposed collectivism + groupthink + the: "you are totally with us, or you 'must' be the enemy" mentality + more people having "Stockholm Syndrome" + Asch Conformity Experiments Insights + Tribalism + WEF Agenda2030 pushed Tunnel Vision Narratives full of bogus assumptions and blatant lies + more and more abuse of power + Totalitarianism + Neo-Marxism + Totally corrupt unaccountable "fact-checkers" sites + Hijacked Governments legalizing corporate crimes and criminalizing real solutions & suppressed inventions + insane wokism cancel culture / rampant censorship + exploiting all kinds of induced hyped fear through creating (false) perceptions of "crisis" using corrupt "computer models" + more and more A.I. micromanaging humans to the point they become slaves paying for their own enslavement + The "Bystanders Effect" + insane framers environment regulations "green agenda" global induced food crisis +insane (pushed) "energy transition" (NetZero2050 & Agenda2030) causing extreme inflation+ Technocracy + Orwellianism + Mass (CIA-FBI-NSA-CCP) Surveillance Capitalism (Social Credit System) also used by Neo-Communists + CBDC + 5G Crowd Control + the normalization of insanity 24/7 >>> also known as "the new normal" + psychopathic control freaks posing as "saviors" + Cover Up of the truth about Experimental Mass mRNA injections (posing as "vaccines") containing untested toxins & Nano-Tech + insane mandates violating all 10 Nuremberg Code of Ethics + Depopulation Agenda + Climate Lockdowns induced by overhyped Climate Hysteria with endless false predictions last 50 years + rigged elections etc. etc.
    • All of it and more ... perfectly explained in the latest 2022 book called: "The Psychology of Totalitarianism" written by Professor of Clinical Psychology & Dr. in Statistics Mattias Desmet >>> study the free audio part of his book on YouTube it will blow your mind how to the point & accurate he is.
    ... and if you would say all the above to anyone before 2020 most people would be very angry at you having so much distrust in "the system" and calling you "insane" for what eventually is happening!
    • Even if you are vindicated later on, still you have people defending the mainstream pushed narratives ... people defending their own enslavement & poisoning of themselves and their loved ones.
    But a part of mainstream professional journalists & doctors & scientists etc. are now joining the Alternative Media networks and that is growing day by day faster and faster ... that is why they are so afraid of this fast-growing counter-culture having a much bigger impact than all previous decades combined, and they know it.



    cheers,
    John Kuhles aka 'ExomatrixTV'
    December 31, 2022 🦜🦋🌳
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    Last edited by ExomatrixTV; 31st December 2022 at 21:03.
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    Default Re: Biggest Threat To Financial Freedom is CBDC

    Lots of interesting discussions going on here. CBDC's are a financial dystopian nightmare. The ultimate control vector. It is very important that the people fight against their implementation at all costs.

    The Chinese are using CBDC's as a weapon against the West. Their plan is to push the digital Renminbi/Yuan (CBDC) to be used by the BRICS nations for trade. China and Russia have been actively buying gold and dumping US treasuries for years in preparation. The end of the PetroDollar/EuroDollar is very near. The Petro-Yuan will be convertible for gold in the Shanghai gold exchange OR used for trade directly with China for goods. It'll be interesting to see how the US responds. So far their response has been widespread economic destruction via interest rates which has created huge shortages in the US Dollar worldwide. But the US is also destroying it's own economy just at a slower pace. Pretty soon the US will need to reverse course or do irreparable damage to their own economy. We are heading into a worldwide recession the only question is how deep and how long the recession will last. If the Fed keeps pushing interest rate hikes at the current pace we will see major countries have sovereign debt crisises. The cracks are already forming in the UK and Japan. Not to mention what this is already doing to countries like Turkey. The Fed is playing a dangerous game. They created mass inflation and now they risk sending us into a great depression.

    The fiat system for money is a the center of this all. Like it or not money is very important for modern civilization. Arguably it is why we have an advanced civilization to begin with. But when you have a money that is backed by nothing and can be created out of thin air by the elites it debases the money and steals from the people using it. Money should be a way to save your work to be spent later for goods and services. Inflation forces you to either spend it immediately or search for ways to protect your earnings. Since the world runs on an inflationary fiat money system all users are forced to invest their money. The worse inflation gets, the more risky people tend to be with their investments.

    The "official" inflation numbers are completely BS. They say we are at 7.2% inflation in the US but you can easily double that to 15%+. So how do you beat inflation? Almost all assets have been completely decimated in the last year. Bonds and stocks have crashed at the same time which is highly unusual (they are normally inversely correlated). Gold/Silver haven't done much and will continue to suffer due to rehypothecation via "paper gold/silver" market manipulation. 99% of Crypto is a flat out scam. Housing is currently correcting and likely to get much worse. A person's financial livelihood is at serious risk at the moment. Especially those near or at retirement age. The system has always had booms and busts however as the US Dollar gets closer to the end of it's life these boom/bust periods become more violent and more frequent.

    We are at a very unique point in time. We are at the end of two major long-term cycles. One is the Big Economic cycle and the other is a the great Social Cycle (Four Turnings). Both are likely interconnected to some degree but basically we are entering a time of high uncertainty and great change.

    Anyway, I got off on a tangent here. Been a long time since I've posted but over the past few years I've been heavily focused on Macro Economics and Geopolitics. As we move through this transition period real assets are your best hedge against what is to come. Land, physical gold and Bitcoin are my preferred investments for the future to come. Having land and making it productive should be your first order of business. Aim to be as self sufficient as possible. After that I would make sure you have physical gold and some Bitcoin. I could write a book about Bitcoin but that is for another time. Let's just say that it has the qualities of gold/land but cannot be easily seized and can be used instantly to transact with anyone around the world. It is digital property that is extremely censorship resistant when used correctly. I've devote much of my time to Bitcoin these days. It's a way of Opting out of the corrupt Fiat system and has huge potential for good. Especially in countries that have suffered under the US lead system. It's freedom money.

    Cheers,

    Octavus Prime
    Last edited by Octavusprime; 2nd January 2023 at 17:38.
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    Default Re: Biggest Threat To Financial Freedom is CBDC

    No need to follow anyone, only consider broadening (y)our horizon of possibilities ...

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    Default Re: Biggest Threat To Financial Freedom is CBDC

    • Clinton And Rockefeller Foundation Announce Bizarre Fund:
    Bill and Hillary Clinton's organization has teamed up with the Rockefeller Foundation to promote digital money and fight "climate change."

    A haggard-looking Hillary Clinton announced the world's first "climate resilience" fund in India. There will be $ 50 million in this fund, which will be used by women to tackle global warming.

    According to Clinton, the fund makes women 'resistant to the effects of climate change, such as extreme heat'. Yes really.

    • Rothschild
    The Council for Inclusive Capitalism, which employs Lynn Forester de Rothschild as an advisor, also contributes to the fund.

    Leaked emails previously showed that Clinton is good friends with the wealthy banking family. E-mail exchanges between Hillary Clinton and Lady de Rothschild include: "You are the best," "Good night," "I am your faithful loving companion," and "Much love."

    The most bizarre email exchange dates from the period when Clinton was still Secretary of State. In the emails, Clinton tells Lady de Rothschild that she had to bring Tony Blair to Israel because of the Middle East peace negotiations.
    • CBDC
    Blair had actually planned to go to Aspen, Colorado with the Rothschilds, but accepted Clinton's invitation anyway. Hillary then wrote, “I hope you understand. Let me know what I owe you.” The e-mails make it clear what the balance of power really is like.

    Meanwhile, central banks are working on the Central Bank Digital Currency (CBDC), digital money over which they have full control and which should 'reduce the carbon footprint'.
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    Default Re: Biggest Threat To Financial Freedom is CBDC

    • Central Bank Digital Currency Is the Endgame Of Total Control


    Central bank digital currency (CBDC) will end human freedom. Don’t fall for the assurances of safeguards, the promises of anonymity and of data protection. They are all deceptions and diversions to obscure the malevolent intent behind the global rollout of CBDC.

    Central Bank Digital Currency is the most comprehensive, far-reaching, authoritarian social control mechanism ever devised. Its “interoperability” will enable the CBDCs issued by various national central banks to be networked to form one, centralised global CBDC surveillance and control system.

    Should we allow it to prevail, CBDC will deliver the global governance of humanity into the hands of the bankers.

    CBDC is unlike any kind of “money” with which we are familiar. It is programmable and “smart contracts” can be written into its code to control the terms and conditions of the transaction.

    Policy decisions and broader policy agendas, restricting our lives as desired, can be enforced using CBDC without any need of legislation. Democratic accountability, already a farcical concept, will become literally meaningless.

    CBDC will enable genuinely unprecedented levels of surveillance, as every transaction we make will be monitored and controlled. Not just the products, goods and services we buy, even the transactions we make with each other will be overseen by the central bankers of the global governance state. Data gathering will expand to encompass every aspect of our lives.

    This will allow central planners to engineer society precisely as the bankers wish. CBDC can and will be linked to our Digital IDs and, through our CBDC “wallets,” tied to our individual carbon credit accounts and jab certificates. CBDC will limit our freedom to roam and enable our programmers to adjust our behaviour if we stray from our designated Technate function.

    The purpose of CBDC is to establish the tyranny of a dictatorship. If we allow CBDC to become our only means of monetary exchange, it will be used enslave us.
    Be under no illusions: CBDC is the endgame.
    • What Is Money?
    Defining “money” isn’t difficult, although economists and bankers like to give the impression that it is. Money can simply be defined as:
    A commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed. It circulates from person to person and country to country, facilitating trade, and it is the principal measure of wealth.
    Money is a “medium”—a paper note, a coin, a casino chip, a gold nugget or a digital token, etc.—that we agree to use in exchange transactions. It is worth whatever value we ascribe to it and it is the agreed value which makes it possible for us to use it to trade with one-another. If its value is socially accepted “by general consent” we can use it to buy goods and services in the wider economy.

    We could use anything we like as money and we are perfectly capable of managing a monetary system voluntarily. The famous example of US prisoners using tins of mackerel as money illustrates both how money functions and how it can be manipulated by the “authorities” if they control the issuance of it.

    Tins of mackerel are small and robust and can serve as perfect exchange tokens (currency) that are easy to carry and store. When smoking was banned within the US penal system, the prisoners preferred currency, the cigarette, was instantly taken out of circulation. As there was a steady, controlled supply of mackerel cans, with each prisoners allotted a maximum of 14 per week, the prisoners agreed to use the tinned fish as a “medium of economic exchange” instead.

    The prisoners called in-date tins the EMAK (edible mackerel) as this had “intrinsic” utility value as food. Out-of-date fish didn’t, but was still valued solely as a medium of exchange. The inmates created an exchange rate of 4 inedible MMAKs (money mackerel) to three EMAKs.

    You could buy goods and services in the Inmate Run Market (IRM) that were not available on the Administration Run Market (ARM). Other prison populations adopted the same monetary system, thus enabling inmates to store value in the form of MAKs. They could use their saved MAKs in other prisons if they were transferred.

    Prisoners would accept payment in MAKs for cooking pizza, mending clothes, cleaning cells, etc. These inmate service providers were effectively operating IRM businesses. The prisoners had voluntarily constructed a functioning economy and monetary system.

    Their main problem was that they were reliant upon a monetary policy authority—the US prison administration—who issued their currency (MAKs). This was done at a constant inflationary rate (14 tins per prisoner per week) meaning that the inflationary devaluation of the MAKs was initially constant and therefore stable.

    It isn’t clear if it was deliberate, but the prison authorities eventually left large quantities of EMAKs and MMAKs in communal areas, thereby vastly increasing the money supply. This destabilised the MAK, causing hyperinflation that destroyed its value.
    With a glut of MAKs available, its purchasing power collapsed. Massive quantities were needed to buy a haircut, for example, thus rendering the IRM economy physically and economically impractical. If only temporarily.

    Perfectly usable “money”
    • The Bankers’ Nightmare
    In June 2022, as part of its annual report, the BIS published The future monetary system. The central banks (BIS members) effectively highlighted their concerns about the potential for the decentralised finance (DeFi), common to the “crypto universe,” to undermine their authority as the issuers of “money”:
    [DeFi] seeks to replicate conventional financial services within the crypto universe. These services are enabled by innovations such as programmability and composability on permissionless blockchains.
    The BIS defined DeFi as:
    [. . .] a set of activities across financial services built on permissionless DLT [Distributed Ledger Technology] such as blockchains.
    The key issue for the central bankers was “permissionless.”

    A blockchain is one type of DLT that can either be permissionless or permissioned. Many of the most well known cryptocurrencies are based upon “permissionless” blockchains. The permissionless blockchain has no access control.

    Both the users and the “nodes” that validate the transactions on the permissionless blockchain network are anonymous. The network distributed nodes perform cryptographic check-sums to validate transactions, each seeking to enter the next block in the chain in return for an issuance of cryptocurrency (mining). This means that the anonymous—if they wish–users of the cryptocurrency can be confident that transactions have been recorded and validated without any need of a bank.

    Regardless of what you think about cryptocurrency, it is not the innumerable coins and models of “money” in the “crypto universe” that concerns the BIS or its central bank member. It is the underpinning “permissionless” DLT, threatening their ability to maintain financial and economic control, that preoccupies them.
    The BIS more-or-less admits this:
    Crypto has its origin in Bitcoin, which introduced a radical idea: a decentralised means of transferring value on a permissionless blockchain. Any participant can act as a validating node and take part in the validation of transactions on a public ledger (ie the permissionless blockchain). Rather than relying on trusted intermediaries (such as banks), record-keeping on the blockchain is performed by a multitude of anonymous, self-interested validators.
    Many will argue that Bitcoin was a creation of the deep state. Perhaps to lay the foundation for CBDC, or at least provide the claimed justification for it. Although the fact that this is one “conspiracy theory” that the mainstream media is willing to entertain might give us pause for thought.

    Interesting though this debate may be, it is an aside because it is not Bitcoin, nor any other cryptoasset constructed upon any permissionless DLT, that threatens human freedom. The proposed models of CBDC most certainly do.
    • CBDC & The End of the Split Circuit IMFS
    Central banks are private corporations just as commercial banks are. As we bank with commercial banks so commercial banks bank with central banks. We are told that central banks have something to do with government, but that is a myth.

    Today, we use “fiat currency” as money. Commercial banks create this “money” out of thin air when they make a loan (exposed here). In exchange for a loan agreement the commercial bank creates a corresponding “bank deposit”—from nothing—that the customer can then access as new money. This money (fiat currency) exists as commercial bank deposit and can be called “broad money.”

    Commercial banks hold reserve accounts with the central banks. These operate using a different type of fiat currency called “central bank reserves” or “base money.”
    We cannot exchange “base money,” nor can “nonbank” businesses. Only commercial and central banks have access to base money. This creates, what John Titus describes—on his excellent Best Evidence Channel—as the split-monetary circuit.

    Prior to the pseudopandemic, in theory, base money did not “leak” into the broad money circuit. Instead, increasing commercial banks’ “reserves” supposedly encouraged them to lend more and thereby allegedly increase economic activity through some vague mechanism called “stimulus” .

    Following the global financial crash in 2008, which was caused by the commercial banks profligate speculation on worthless financial derivatives, the central banks “bailed-out” the bankrupt commercial banks by buying their worthless assets (securities) with base money. The new base money, also created from nothing, remained accessible only to the commercial banks. The new base money didn’t directly create new broad money.

    This all changed, thanks to a plan presented to central banks by the global investment firm BlackRock. In late 2019, the G7 central bankers endorsed BlackRock’s suggested “going-direct” monetary strategy.

    BlackRock said that the monetary conditions that prevailed as a result of the bank bail-outs had left the International Monetary and Financial System (IMFS) “tapped out.” Therefore, BlackRock suggested that a new approach would be needed in the next downturn if “unusual circumstances” arose.

    These circumstances would warrant “unconventional monetary policy and unprecedented policy coordination.” BlackRock opined:
    Going direct means the central bank finding ways to get central bank money directly in the hands of public and private sector spenders.
    Coincidentally, just a couple of months later, the precise “unusual circumstances,” specified by BlackRock, came about as an alleged consequence of the pseudopandemic. The “going direct” plan was implemented.

    Instead of using “base money” to buy worthless assets solely from commercial banks, the central banks used the base money to create “broad money” deposits in commercial banks. The commercial banks acted as passive intermediaries, effectively enabling the central banks to buy assets from nonbanks. These nonbank private corporations and financial institutions would have otherwise been unable sell their bonds and other securities directly to the central banks because they can’t trade using central bank base money.

    The US Federal Reserve (Fed) explain how they deployed BlackRock’s ‘going direct’ plan:
    A notable development in the U.S. banking system following the onset of the COVID-19 pandemic has been the rapid and sustained growth in aggregate bank deposits [broad money]. [. . .] When the Federal Reserve purchases securities from a nonbank seller, it creates new bank deposits by crediting the reserve account of the depository institution [base money] at which the nonbank seller has an account, and then the depository institution credits the deposit [broad money] account of the nonbank seller.
    This process of central banks issuing “currency” that then finds its way directly into private hands will find its ultimate expression through CBDC. The transformation of the IMFS, suggested by BlackRock’s “going direct” plan, effectively served as a forerunner for the proposed CBDC based IMFS.
    • The “Essential” CBDC Public-Private Partnerships
    CBDC will only be “issued” by the central banks. All CBDC is “base money.” It will end the traditional split circuit monetary system, although proponents of CBDC like to pretend that it won’t, claiming the “two-tier banking system” will continue.

    This is nonsense. The new “two-tier” CBDC system is nothing like its more distant predecessor and much more like “going direct.”.
    CBDC potentially cuts commercial banks out of the “creating money from nothing” scam. The need for some quid pro quo between the central and the commercial banks was highlighted in a recent report by McKinsey & Company:
    The successful launch of a CBDC involving direct consumer and business accounts could displace a material share of deposits currently held in commercial bank accounts and could create a new competitive front for payment solution providers.
    McKinsey also noted, for CBDC to be successful, it would need to be widely adopted:
    Ultimately, the success of CBDC launches will be measured by user adoption, which in turn will be tied to the digital coins’ acceptance as a payment method with a value proposition that improves on existing alternatives. [. . .] To be successful, CBDCs will need to gain substantial usage, partially displacing other instruments of payment and value storage.
    According to McKinsey, a thriving CBDC would need to replace existing “instruments of payment.” To achieve this, the private “payment solution providers” will have to be on-board. So, if they are going to countenance displacement of their “material share of deposits,” commercial banks need an incentive.

    Whatever model CBDC ultimately takes, if the central bankers want to minimise commercial resistance from “existing alternatives,” so-called public-private partnership with the commercial banks is essential. Though, seeing as central banks are also private corporations, perhaps “corporate-private partnership” would be more appropriate.
    McKinsey state:
    Commercial banks will likely play a key role in large-scale CBDC rollouts, given their capabilities and knowledge of customer needs and habits. Commercial banks have the deepest capabilities in client onboarding [adoption of CBDC payment systems] [. . .] so it seems likely that the success of a CBDC model will depend on a public–private partnership (PPP) between commercial and central banks.
    Accenture, the global IT consultancy that is a founding member of the ID2020 Alliance global digital identity partnership, agrees with McKinsey.
    Accenture declares:
    Make no mistake: Commercial banks have a pivotal role to play and a unique opportunity to shape the course of CBDC at its foundation. [. . .] CBDC is developing at a much faster pace than that of other payment systems. [. . .] In the U.S. at least, the design of a CBDC will likely involve the private sector, and with the two-tier banking system set to remain in place, commercial banks must now step up and forge a path forward.

    • What Model of CBDC?
    By creating the new concept of “wholesale CBDC,” the two-tier fallacy can be maintained by those who think this matters. Nonetheless, it is true that a wholesale CBDC wouldn’t necessarily supplant broad money.

    The Bank for International Settlements (BIS)—the central bank for central banks—offers a definition of the wholesale CBDC variant:
    Wholesale CBDCs are for use by regulated financial institutions. They build on the current two-tier structure, which places the central bank at the foundation of the payment system while assigning customer-facing activities to PSPs [non-bank payment service providers]. The central bank grants accounts to commercial banks and other PSPs, and domestic payments are settled on the central bank’s balance sheet. [. . .] Wholesale CBDCs and central bank reserves operate in a very similar way.
    Wholesale CBDC has some tenuous similarities to the current central bank reserve system but, depending upon the added functionality of the CBDC design, increases central bank ability to control all investment and subsequent business activity. This alone could have an immense social impact.

    The BIS continues:
    [. . .] a more far-reaching innovation is the introduction of retail CBDCs. Retail CBDCs modify the conventional two-tier monetary system in that they make central bank digital money available to the general public, just as cash is available to the general public as a direct claim on the central bank. [. . .] A retail CBDC is akin to a digital form of cash[.] [. . .] Retail CBDCs come in two variants. One option makes for a cash-like design, allowing for so-called token-based access and anonymity in payments. This option would give individual users access to the CBDC based on a password-like digital signature using private-public key cryptography, without requiring personal identification. The other approach is built on verifying users’ identity (“account-based access”) and would be rooted in a digital identity scheme.
    It is “retail CBDC” that extends central bank oversight and enables it to govern every aspect of our lives. Retail CBDC is the ultimate nightmare scenario for us as individual “citizens.”

    While the BIS outlines the basic concept of retail CBDC, it has thoroughly misled the public. Suggesting that retail CBDC is the users “claim on the central bank” sounds much better than acknowledging that CBDC is a liability of the central bank. That is, the central bank always “owns” the CBDC.

    It is a liability which, as we shall see, the central bank agrees to pay if its stipulated “smart contract” conditions are met. A retail CBDC is actually the central bank’s “claim” on whatever is in your CBDC “wallet.”

    The BIS assertion, that CBDC is “akin to a digital form of cash,” is a lie. CBDC is nothing like “cash,” save in the remotest possible sense.
    Both cash, as we understand it, and CBDC are liabilities of the central bank but the comparison ends there. The central bank, or its commercial bank “partners,” cannot monitor where we exchange cash nor control what we buy with it. CBDC will empower them to do both.

    At the moment, spending cash in a retail setting—-without biometric surveillance such as facial recognition cameras—is automatically anonymous. While “token-based access” retail CBDC could theoretically maintain our anonymity, this is irrelevant because we are all being herded into a retail CBDC design that is “rooted in a digital identity scheme.”

    The UK central bank—the Bank of England (BoE)—has recently published its envisaged technical specification for its CBDC which it deceptively calls the Digital Pound. The BoE categorically states:
    CBDC would not be anonymous because the ability to identify and verify users is needed to prevent financial crime and to meet applicable legal and regulatory obligations. [. . .] Varying levels of identification would be accepted to ensure that CBDC is available for all. [. . . ] Users should be able to vary their privacy preferences to suit their privacy needs within the parameters set by law, the Bank and the Government. Enhanced privacy functionality could result in users securing greater benefits from sharing their personal data.
    Again, it is imperative to appreciate that CBDC is nothing like cash. Cash may be preferred by “criminals” but it is more widely preferred by people who do not want to share all their personal data simply to conduct business or buy goods and services.

    The Digital Pound will end that possibility for British people. Just as CBDCs in every other country will end it for their populations.

    The BoE model assumes no possible escape route. Even for those unable to present state approved “papers” on demand, “varying levels of identification” will be enforced to ensure that the CBDC control grid is “for all.” The BoE, the executive branch of government and the judiciary form a partnership that will determine the acceptable “parameters” of the BoE’s, not the users, “privacy preferences.”
    The more personal identification data you share with the BoE and its state partners, the sweeter your permitted use of CBDC will be. It all depends upon your willingness to comply. Failure to comply will result in you being unable to function as a citizen and ensure that you are effectively barred from mainstream society.

    If we simply concede to the rollout of the CBDC, the concept of the free human being will be distant memory. Only the first couple of post CBDC generations will have any appreciation of what happened. If they don’t deal with it, the future CBDC slavery of humanity will be inescapable.

    This may sound like hyperbole but, regrettably, it isn’t. It is the dictatorial nightmare of retail CBDC that we will explore in part 2, alongside the simple steps we can all take to ensure the CBDC nightmare never becomes a reality.
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