As I have said, when the Federal Reserve created its own digital currency and accepts its first consumer deposit account, the U.S. Treasury will be obsoleted and Congress will lose all control over creating money and coinage. This means that one private banking monopoly controls the entire monetary system.
Fintech & Blockchain
To make CBDCs like a stablecoin, the BIS will likely implement a global basket system like Special Drawing Rights, where all digital currencies are interchangeable. This is similar to John Maynard Keynes’ concept of Bancor, which allowed a one-way transfer of gold into Bancors but not the other way around.
The promise of of convenience and security are overshadowed by the massive hoovering up of personal biometric data along with all financial transactions. In short, Mastercard has entered the age of Surveillance Capitalism where it will sell its surplus data to the highest bidders.
The BIS in Basel, Switzerland is the central bank to central banks all of which represent a giant vampire squid on planet earth. When CBDC accounts are opened directly by the public, the U.S. Treasury will be obsolete and powerless, as will our Congress that has responsibility to coin money. This means total control over currencies by one monolithic structure that sits out of reach from all governments.
Technocrats who are driving the move toward a cashless society could care less about the human displacement and hardships that would be created. No matter what Technocrats tell you about the inevitability of a cashless society, it is pure propaganda to trick you into going along.
There is nothing good about implementing a global or national digital currency because it is the railroad to digital tyranny and total control. Many people will welcome their slavery in return for bread and circuses, but it’s not like they were not warned beforehand.
According to Article I, Section 8, Clause 5 of the U.S. Constitution, Congress is specifically granted exclusive responsibility “To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”. No problem for Biden, who rules with a pen. Fintech is the chosen financial system for the post-Great Reset world, aka Technocracy. Read the full EO below, with highlights provided by TN.
Basically, Biden is opening the door to the destruction of paper currency on the flimsy excuse of defending against ransomware and cyber crime. The unnamed source said, “We could see a significant shift in policy in 180 days. This is a likely step toward creation of a central bank digital currency”.
Like vaccine passports and digital identity schemes, there has been zero public debate over central bank digital currencies as they are rolled out around the world. All global banking institutions like the IMF, World Bank and the Bank for International Settlements, are pushing as hard as they can.
Justin Trudeau was likely drawn up short by his Technocrat superiors because he let the cat out of the bag too early. That is, he revealed the workings of the dystopian financial controls being set in place to completely control a population through financial access, or lack of it.