If you combine government use of energy policy, government regulation on individuals around that energy policy, and the self-interested need to control political opposition, you discover one of the most effective ways to control human activity is to control their finance.
Canadian Prime Minister Justin Trudeau gave us a great example of that when he weaponized the power of the Canadian government to target the protesting truckers and those who support them. You might remember Trudeau’s government locked down bank accounts, froze assets, denied loans, blocked mortgages and generally confiscated the wealth and incomes of his political opposition without any due process; all because the people were challenging his totalitarian COVID dictates. {Go Deep}
Take those reference points as an overlay and now consider this undiscussed recent announcement from the Biden administration:
[White House] – President Biden often summarizes his vision for America in one word: Possibilities. A “digital dollar” may seem far-fetched, but modern technology could make it a real possibility.
A United States central bank digital currency (CBDC) would be a digital form of the U.S. dollar. While the U.S. has not yet decided whether it will pursue a CBDC, the U.S. has been closely examining the implications of, and options for, issuing a CBDC. If the U.S. pursued a CBDC, there could be many possible benefits, such as facilitating efficient and low-cost transactions, fostering greater access to the financial system, boosting economic growth, and supporting the continued centrality of the U.S. within the international financial system. However, a U.S. CBDC could also introduce a variety of risks, as it might affect everything ranging from the stability of the financial system to the protection of sensitive data.
Notably, these benefits and risks might vary significantly based on how the CBDC system is designed and deployed. That is why Executive Order 14067, Ensuring Responsible Development of Digital Assets, placed the highest urgency on research and development efforts into the potential design and deployment options of a U.S. CBDC. The Executive Order directed the Office of Science and Technology Policy (OSTP), in consultation with other Federal departments and agencies, to submit to the President a technical evaluation for a potential U.S. CBDC system.
Today, OSTP is publishing its report, Technical Evaluation for a U.S. Central Bank Digital Currency System, which lays out policy objectives for a potential U.S. CBDC system and analyzes key technical design choices for a U.S. CBDC system. The report also estimates the technical feasibility of building a CBDC minimum viable product and describes how a U.S. CBDC system might affect Federal operations. The report makes recommendations on how to prepare the Federal Government for a U.S. CBDC system. Importantly, the report does not make any assessments or recommendations about whether the U.S. should pursue a CBDC, nor does it make any decisions regarding particular design choices for a potential U.S. CBDC system. (read more)
When you read that full announcement, you realize they have already built the system.
If the system is built and they are now making policy recommendations for implementation, the question becomes ‘what’s the goal’?
We do not have to look far for the explanation.
the World Government Summit 2022 took place on March 29 and 30 in Dubai, hosting more than 4,000 individuals from 190 countries including senior government officials, heads of international organizations, and global “experts.” The invited participants presented ideas and worldviews from within their various fields of specialty.
One presentation was from Dr. Pippa Malmgren, an American economist who served as special advisor on Economic Policy to President George W. Bush.
Her father, Harald Malmgren, served as a senior aide to US Presidents John F. Kennedy, Lyndon B. Johnson, Richard Nixon, and Gerald Ford. In this segment, Mrs. Malmgren says the quiet part out loud. Yes, they are no longer hiding the construct; indeed, as you will hear they are saying quite openly what the future will look like. WATCH (2 minutes):
[Full Source – 6 hours (internal segment at 18:30)]
Transcript – Dr. Malmgren: “What underpins a world order is always the financial system. I was very privileged. My father was an adviser to Nixon when they came off the gold standard in 71. And so, I was brought up with a kind of inside view of how very important the financial structure is to absolutely everything else.
And what we’re seeing in the world today, I think, is we are on the brink of a dramatic change where we are about to, and I’ll say this boldly, we’re about to abandon the traditional system of money and accounting and introduce a new one. And the new one. The new accounting is what we call blockchain.
It means digital, it means having a almost perfect record of every single transaction that happens in the economy, which will give us far greater clarity over what’s going on. It also raises huge dangers in terms of the balance of power between states and citizens.
In my opinion, we’re going to need a digital constitution of human rights if we’re going to have digital money. But also this new money will be sovereign in nature. Most people think that digital money is crypto, and private. But what I see our superpowers introducing digital currency, the Chinese were the first the US is on the brink, I think of moving in the same direction the Europeans have committed to that as well.
And the question is, will that new system of digital money and digital accounting accommodate the competing needs of the citizens of all these locations, so that every human being has a chance to have a better life? Because that’s the only measure of whether a world order really serves!”
The entry into a digital currency, needs a digital identity.
The end goal of a digital currency is why western political leaders have not been worried about following the COVID-19 spending demands from the World Economic Forum. {Go Deep}
When the global trade currency does not need to be pegged to anything to determine value, it is completely fiat. This is the current problem with global trade and transactions taking place in U.S. dollars, which arbitrarily lifts the standard of life for Americans while providing no similar benefit to other nations. That view became the underlying motive for Osama Bin Laden to target the World Trade Center, twin towers. That view was/is also the perspective carried by Barack Obama, that lay behind his “fundamental change” statement.
A digital currency allows ultimate control on a global basis by a one world government, or western system of collective governments, that can assign value. No other mechanism will have as much control over the life of a person than a digital currency that will create a system of transactional credits and debits, perhaps also influenced by your social credit score.
The digital currency requires a digital identity in order for apportionment based on your value to society. This is essentially an extension of the Fabian mindset into the world of financial transactions and monetary evaluations. Fabians believed that some form of socioeconomic tribunal would be needed in order for each citizen to be quantified according to their “worth” to society. The Chinese social credit score is a variant of that same concept.
The phrase “you didn’t build that,” when espoused by former President Obama and current Senator Elizabeth Warren is also based on this collective worldview. Both believe that individuals do not succeed independently, but rather gain their ability to grow wealth by using the resources of the larger society, infrastructure, labor and education. The phrase “it takes a village” to raise a child, as espoused by Hillary Clinton is another variant of the same collective advocacy.
A digital currency and digital identity is not a conspiracy theory, these “global leaders” are explaining it to us out loud. However, I am concerned that most will not hear it, or understand it, until it is too late.
“Remold it nearer to the hearts desire”
Or
“Build Back Better“
Same/Same
Beware any government or global financial agency from creating their own crypto-currency for they have the ability to connect the dots which allows them to identify the individual transactions on the block chain. Therefore, everyone using the blockchain will leave forever history of all their transactions. This is the end game. The encryption won’t matter. They will transition to this currency, outlaw cash and that is the end of privacy as we know it. They could also prevent people from using the crypto-currency.
Yes, blockchain uses encryption only for authentication, not for obfuscation. It was designed to solve a specific set of problems, and providing anonymity is not one of them. As soon as you hook up your wallet with your bank account, necessary in order to get significant amounts of money in or out, it is not anonymous.
Australia: Reserve Bank and ALP/LNP duopoly (Uni-Party) will soon get rid of
legal tender notes and coins as promised by WEF operative Scott Morrison | Cairns News
Article 1 Section 8:
“To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
Can someone help me understand how one “coins” and fixes “standard of weights and measure” to digital currency?
Is it like asking how many angels can dance on the head of a pin?
Clearly Congress has no authority to issue a digital currency. Moreover, the power to coin Money that they do have is not exclusive. They also have no authority to create a Federal Reserve Bank (even if it were publicly, rather than privately owned. They scoff at the notion they are constrained by the Consitution. We need to scoff at their demands.
All of this pissing and moaning and I bet 90% here have online banking!! Yeah, caught you didn’t I??
It is by no means the same thing. CBDC is a voucher system pure and simple. If you have used your allotment, for gasoline, or beef, they just shut you down.
we all have to resist these tyrants USE CASH ONLY
Cash will be outlawed, and you will be broke.
Lets see how the elite fare after a month long labor strike . These f ers will be hunted down inside of two weeks .
What of it? I’ve had it since its inception and it works perfectly. Leave it as it is and there is no problem.
I execute cash transactions that are anonymous with restaurants and other businesses regularly. I have never had anyone turn down my cash, and rarely my bank card. It is the ability to negate the execution of a transaction between two parties by a third party that is at issue. Currently, VISA and Mastercard in the US can do this for their cards. So, far, only my financial score has every been at issue with them.
However, I am not required to exclusively conduct all of my business transactions via my credit cards and/or my bank, yet. I can use cash and cash is anonymous. I can also barter services and/or things with strangers or people I know.
It’s hard to say but if dollars go digital, government will devise crediting on spending which aid them in their objectives.
We see how they do it with taxes, we can only assume they will choose winners and losers to spend monies with too.
Only a few are talking about the digital dollar which curiously suggests the government understands this to be very unpopular if out in the open.
BTW the dollar is very, very strong now in a global recession. When that changes and we lose some more ground as the global reserve currency, our own borrowing costs will go up and the fiat dollar will be worth less.
Whether paper or digital, worth less.
Dollars are already digital and cash is increasingly hard to come by. We do need a digital currency – just not one controlled by the Feds and not one that is an energy wasting tool for surveillance.
What are you talking about? I have physical dollars, I have credits for dollars at my bank, I have debits for dollars with VISA and Mastercard through other banks. Much of it is digital. If one needs large sums of cash, four digits or more, it is possible to acquire these from a bank. Yes, they require notice, they are gating exits from the banking system. They do want us to function mostly in the digital realm, that’s why there are so many advantages to having accounts with all the businesses you use. So, far, none of this is required to function in society. Many, many businesses are still strictly cash.
There is no smooth path forward to digital currency for everything in the US. That can be changed by edicts from the government. Most of which can be challenged as unconstitutional, should the other party disagree with the reigning party. The concern is that they would attempt such a transition without regard for the impact on lives. It would be highly disruptive to the population. Everyone does not have a bank account.
To call it money is like calling mRNA a vaccine. It’s programmable and completely not private. You won’t be able to buy gasoline but will be able to buy Hunter Bidens Chinese Taliban Batteries. You won’t be able to buy tobacco but you will be able to buy Californian state sponsored weaponized cannibus. It’s the ultimate fiat money.
Why do these self-presumed wizards of smart think they have the authority to reorder society without any input from the very people who will be impacted? They love to virtue-signal their love of “democracy” but everything they do is totalitarian in nature. If/when they decouple from money into a crypto/digital currency people will rebel with many returning to the barter system of old. These government idiots screw up everything they touch.
Digital currency requires digital ID, which paves the way for microchipping, which sounds remarkably like the “mark of the beast.” Then…
Own firearms/ammo – no currency
Belong to a non-sanctioned church – no currency
Read/post on CTH – no currency
Don’t vote for approved candidates – no currency
Use too much energy – no currency
Protest/exercise First Amendment rights – no currency
We’re watching the train wreck in slow motion. Millions of us need to change how we live, shop, eat, vote, worship, etc to stop the wreck. Will we?
Digital currency does not require digital ID. That is just a defect in the design of Bitcoin and any ledger based system.
Nice.
The White House Office of Science and Technology Policy claims the following benefits are ‘possible’.
1-Facilitating efficient and low-cost transactions.
We already have that. I haven’t visited a bank in years.
2-Fostering greater access to the financial system.
More like forcing everyone into it with perfect oversight
3-Boosting economic growth.
Fat chance
4-Supporting continued centrality of the U.S. within the international financial system.
Ah, now we are getting there. As our chief White House setter of financial and technology policy states, Biden always summarizes his “vision” for America with one word, possibilities.
As Dr. Malmgren states:
It means digital, it means having a almost perfect record of every single transaction that happens in the economy, which will give us far greater clarity over what’s going on. It also raises huge dangers in terms of the balance of power between states and citizens.
What, me worry?
Armstrong Economics has been writing about this subject a lot over the last view years. Linked below is a Nov 11, 2020 article, “Cashless Worlds Signals a Global End to Privacy”. He also referenced many time that a credit card system tells the guv where your money is going, but blockchain will tell that plus where your money came from. Every cent will be accounted for. Then they will hunt for lost taxes.
FTA: Countries are moving to digital currencies at lightning speed. This is the future of money. Digital currencies will replace cash on an ASAP agenda. We are witnessing Europe, Canada, Asia, and even China all moving toward this new digital world for (1) total control, (2) taxes, (3) to track everyone and every transaction. We have been witnessing world leaders, including Trudeau, eager to see the fall of Trump because he has stood in opposition to this movement.
Even China has begun trials of a new digital Yuan. They have already outlawed BitCoin. You are witnessing the same unfolding in Europe. In the USA, legally you are supposed to report what digital currency you have when traveling from overseas because you are carrying more than $10,000 even if you had that when you left. Bitcoin, I have warned, was allowed to operate because the government wanted people to get accustomed to digital currency. Once they broke ground, then it was just a stroke of the pen to outlaw it and convert everything to the digital sovereign currency.
The digital currency will become an international currency. Many countries are hoping this will dethrone the dollar. The Chinese are looking at this as a way to also bypass the SWIFT system that the West has used to impose sanctions on countries. In that respect, they have brought that on themselves.
https://www.armstrongeconomics.com/armstrongeconomics101/economics/cashless-world-signals-a-global-end-to-privacy/?utm_source=Newsletter&utm_medium=Email&utm_campaign=RSS
Interesting article on how, why and who has set this into motion worldwide. This article, “The Real Digital Plot” was written
June 19, 2021. A few paragraph inserts below.
FTA: The move to end paper money and move toward a national cryptocurrency took a major step recently when the House Financial Services Committee task force expressed support for experiments to create a digital cryptocurrency version of the U.S. dollar. They argued that the United States had to keep pace with China, and in the process, they enable all Americans to access the digital economy.
For years, I have watched behind the curtain how they operate. I believe that Bitcoin was “ALLOWED” to be created for the sole purpose of moving to a digital currency. Just as they float a balloon in first to see how the market reacts, which allows them to always deny it.
Nobody knows who invented blockchain. Don’t you find it curious that such a major invention takes place and nobody takes credit? Even the notorious government propaganda site, Wikipedia, states: “The blockchain was invented by a person (or group of people) using the name Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin.” This appears to be the perfect COVERT operation, for blockchain allows the government to trace every person who handled that Bitcoin.
They always float a balloon, and it is done by someone who is NOT part of the current government, as was the case with Larry Summers — the father of NEGATIVE interest rates. All the intellectuals hail it as brilliant as they are now doing with the Great Reset.Once it becomes accepted, they move in for the kill.
https://www.armstrongeconomics.com/world-news/cryptocurrency/the-real-digital-plot/
So if this is going to be a Blockchain currency, how is Mr 10% going to get his 10%?
So what do we do about it? Sit around talking ? The oppression in 1770 was a minor taxing situation. We’re being overtaken by commies/globalists and doing nothing.