CentralBankDigitalCurrencies and You

[Stravinsk]

The following video is just over 10 minutes and I think gives a pretty good layman's explanation of some dangers that lie ahead for people in the West.

It ends on a positive note, but if this really is what Revelation predicted, then the believer (of the book of Revelation), and specifically those who see a literal implementation of the Mark of the Beast may have a different view. I am not sure myself if this is "it" but if it isn't, it seems to be a stepping stone to a world wide system. For as of now, as I understand things each of the (participating) nations are going to issue their own, instead of having it universal.

Cash has never been real money, imo - it is ponzi scheme to allow the issuers to slowly take over economies through the fiat - fractional reserve banking system. But, it could still be used relatively anonymously for smaller type purchases without many government controls. CBDC's can be used to change that, to tightly control your purchasing habits and monitor them.

Tell us what you think

Cashless Society Explained: Digital Currency Programming

Link to Video

 

[Lamb]

I'll take a look at the link later but I have to say that the control the governments would have if paperless cash went away, would be terrifying.

 

[tango]

Not in a place to watch videos right now but in principle I agree that CBDCs would be a terrifying development.

Of course in theory it's all about clamping down on terrorism, tax evasion and the like. But let's face it, the levels of tax evasion permitted by small-time traders accepting payments in cash for goods and services that they presumably forgot to write up in their accounts is less than a rounding error compared to what government wastes as a matter of routine.

If the government, or any other body for that matter, were ever to achieve the level of control whereby they could literally shut off your spending then society would have entered a terrifying new phase. I know there are lots of memes around social media along the lines of "it's 2028 and your electric car won't start for three days because you posted something offensive on Facebook". For now it's funny, if theoretically concerning. But imagine if you suddenly can't pay your bills, can't buy groceries, can't collect a wage, because you posted something a little off-color on social media and the deduction from your personal ESG score meant you were given a 5 day timeout from being able to function.

In a way it's already dangerously close. Look at the way Canada tried to freeze the assets of truckers protesting COVID mandates, or the way Western companies shut Russians out from payment networks over the Ukranian invasion. Chances are it's coming to a store near you and probably within our lifetime.

 

[tango]

As an extra note, even if countries do implement their own CBDCs, the existence of the Common Reporting Standard for tax purposes means most people would struggle to ferret money away offshore even if they could set up accounts in another nominal currency. CBDCs paired with the CRS pave the way for a single global CBDC. The worrying thing is the question of who would control it, and what their agenda might be.

 

[Prepared]

The following video is just over 10 minutes and I think gives a pretty good layman's explanation of some dangers that lie ahead for people in the West.

It ends on a positive note, but if this really is what Revelation predicted, then the believer (of the book of Revelation), and specifically those who see a literal implementation of the Mark of the Beast may have a different view. I am not sure myself if this is "it" but if it isn't, it seems to be a stepping stone to a world wide system. For as of now, as I understand things each of the (participating) nations are going to issue their own, instead of having it universal.

Cash has never been real money, imo - it is ponzi scheme to allow the issuers to slowly take over economies through the fiat - fractional reserve banking system. But, it could still be used relatively anonymously for smaller type purchases without many government controls. CBDC's can be used to change that, to tightly control your purchasing habits and monitor them.

Tell us what you think

Cashless Society Explained: Digital Currency Programming

Link to Video

Digital is the first step and the world has been going digital for a few decades.

President Biden is speaking of looking into digital currency in the US
No, Biden executive order won’t replace paper money with digital currency

The microchip easy to implant and very trackable.
It is necessary here in Houston that your pets are microchipped, starting last year. Though they say they're not forcing anyone - one will not be able to get the required by law a rabies shot for their pet.
Humans are next
Digital currency, in my opinion will flop but microchip implants will take hold and eventually become worldwide mandate. Microchipping is simpler you won't need the digital or any currency.

 

[Nomad]

Money is not just a piece of paper (paper money) or a plastic card (credit card), it is a value guaranteed by the government-owned bank (central bank). Money was created as a tool to ease trade and commerce as well as pay for services and goods. However, today it has become a tool to control less fortunate people.

 

[tango]

Money is not just a piece of paper (paper money) or a plastic card (credit card), it is a value guaranteed by the government-owned bank (central bank). Money was created as a tool to ease trade and commerce as well as pay for services and goods. However, today it has become a tool to control less fortunate people.

The only guarantees are that it will lose value over time, and that banks will continue to siphon off a percentage of everything in sight.

If you pay with a banknote, every time that note changes hands it's worth the same amount. If you pay with a card every single transaction sees 3% or more siphoned off into "the system" - that's value that disappears as far as the average working serf is concerned.