HNewsWire Update:
Presently, new digital currencies produced by central banks are being used in over 90% of the world’s nations. Since OffG and others have been covering the push for Central Bank Digital Currencies (Central Bank, Digital Currency (CBDC)s) for years, we don’t need to rehash tired talking points.
To put it simply, full transaction monitoring is possible with all digital currencies. If the currency could be programmed, then total control over every transaction would be feasible.
Check out our extensive past archive on Central Bank, Digital Currency (CBDC)s for more details.
It is apparent that Central Bank, Digital Currency (CBDC)s are a potentially horrifying nightmare that will infringe upon the rights of every individual forced to utilize them, but what role do they play in international governance?
“Interoperability” is the word in response.
Though they will theoretically be separate from one another, most national Central Bank, Digital Currency (CBDC)s throughout the world are being coded to recognize and communicate with each other. They’re all being programmed by the same few tech companies, and almost all of them are being engineered to conform to rules created by globalist financial institutions such as the Bank of International Settlements.
A June 2023 World Economic Forum study found that “Central Bank Digital Currency Global Interoperability Principles” are crucial and also concluded as follows:
Central banks ought to adhere to a set of guidelines and prioritize interoperability concerns from the outset of the design process. To ensure that Central Bank, Digital Currency (CBDC)s are implemented smoothly and to foster global collaboration, a comprehensive set of rules and regulations must be developed. By building on previous research and collaborative efforts, this set of guidelines can serve as a solid basis, directing central banks to proactively consider interoperability from the outset of their Central Bank, Digital Currency (CBDC) projects. Central banks that adopt these recommendations can work to create a cohesive and interconnected Central Bank, Digital Currency (CBDC) ecosystem.
In response to the findings, the World Economic Forum website said [emphasis added]:
Promoting interoperability and ensuring successful implementation require global coordination. By adhering to interoperability standards, Central Bank, Digital Currency (CBDC)s can coexist peacefully and build efficient, networked digital payment systems.
Understanding ideas like “global coordination,” “cohesive ecosystem,” “harmonious advancement,” and “interconnected payment systems” is not difficult.
A single global currency and 195 “interoperable” and networked digital currencies are essentially the same.
“Interoperability” is actually the catchphrase for all globalist power structures coming forward. Which leads us nicely to…
2. Virtual identity
The global push for mandatory digital identification is more than a century older than the digital currency movement, having its roots in Tony Blair’s “national identity cards” at the beginning of the century.
For decades, it has been put out as a “solution” to all “problems.”
Fear? You will be protected by your digital identity.
Unauthorized immigration? Digital identities will be used to secure the border.
A global health crisis? Digital identities will be used to track who has been inoculated and who hasn’t.
Artificial Intelligence: Digital identity will prove human identity.
Destitution? Digital identity “will promote financial inclusion.”
Certainly, just like Central Bank, Digital Currency (CBDC)s do, a comprehensive digital identification service is dangerous for human rights. Like Central Bank, Digital Currency (CBDC)s, national digital identity platforms can be connected to build a global system.
“Interoperability” is the crucial term here once more. Their communication is in the same tongue.
The World Bank’s Identity4Development initiative claims:
Interoperability is necessary to build identity ecosystems that are efficient, resilient, and successful.
The Nordic and Baltic Ministers for Digitalization have formally sought cross-border functioning digital IDs.
Non-governmental organizations (NGOs) like Open Identity Exchange (OIX) are publishing reports on “the need for data standards to enable interoperability of digital IDs both within federations within an ID ecosystem and across ID ecosystems”.
National governments that have adopted digital IDs, are “partnering” with big businesses to do so, and/or are pushing “cross-border interoperability” are many and will only get longer on this list.
In October 2023, the United Nations Development Program published its “guidelines” for generating and using digital IDs.
Functionality-wise, 195 networked digital identity platforms and a single worldwide identification program are equal.
Okay, so they have procedures in place for global currency and identity. They can now monitor and control everyone’s location, financial transactions, health, and other information. That is a dispersed surveillance and control model designed to conceal the presence of a global government.
Rules?
How does this global government pass laws and make policies without anyone knowing it exists?
Source: ZeroHedge
HNewsWire:
Anybody who seriously thinks that Universal Basic Income (UBI) programs of the future won’t be full blown social credit systems need look no further than Brazil, where newly selected socialist / globalist Lula da Silva just decreed that the Bolsa Familia program will require family members to be vaccinated in order to continue receiving benefits.
“We can’t play, it’s a question of science. If I have 10 covid vaccines to take, I will take all that is necessary ”.
The news comes via The Rio Times, which describes the Bolsa program as “a social welfare program for the poorest families in Brazil” and “a kind of Universal Basic Income”.
UBI is considered by many to be beneficent and inevitable. I personally believe the latter but not the former.
However it shouldn’t surprise anyone that if you’re dependent on The Saviour State for your sustenance (as Charles Hugh Smith calls it), you are, in effect, their chattel.
Central Bank, Digital Currency (CBDC)s will be the rails for UBI programs
The emergence of Central Bank Digital Currency (Central Bank, Digital Currency (CBDC)) initiatives in nearly every nation on earth clearly signals the direction this is going. Nearly every Central Bank, Digital Currency (CBDC) white paper or proposal I’ve come across have the following three characteristics spelled out in plain text, and I expect every Central Bank, Digital Currency (CBDC) to have these five capabilities baked-in, whether or not they are initially enabled (or documented).
#1) Expiry dates / use-by dates
Central Bank, Digital Currency (CBDC)s will have expiry dates after which their value will evaporate or erode. What I’ve noticed is white papers coming out of central banks started framing it as a feature, not a bug, to facilitate “recovery of lost funds”.
Abstract
An important feature of physical cash payments is resilience, which is due to their indifference to power outages or network coverage. Many central banks are exploring issuing digital cash substitutes with similar online payment functionality. Such substitutes could incorporate novel features, making them more desirable than physical cash. This paper considers introducing an expiry date for online digital currency balances to automate personal loss recovery. We show that this functionality could substantially increase consumer demand for digital cash, with the time to expiration playing an important role. Having more information available to the central bank improves accuracy of loss recovery but may decrease welfare.
— Best Before Expiry? Expiring Digital Currency and Loss Recovery, Bank of Canada Staff Paper, December 24, 2021
However the real reason Central Bank, Digital Currency (CBDC)s will have expiry dates is to stimulate money velocity and keep recipients dependent.
#2) “Anti-hoarding” features
Saving for the future is being rebranded as “hoarding” and it is becoming officially unfashionable because personal savings reduces dependancy on the state. The easiest mechanism for achieving this will be through negative interest rates on savings accounts, as per this IMF white paper,
“A world with lower inflation (and even zero inflation) and no persistent recessions may sound like a pipe dream, but we argue that it is possible by transitioning to an “electronic money standard.” Such a transition requires eliminating the zero lower bound, which central banks can achieve using readily available tools. Breaking the zero lower bound implies that the optimal rate of inflation will be lower than in the presence of the lower bound. This will empower central banks to quickly restore full employment and, over the medium term, possibly move toward targeting full price stability with zero inflation.”
…which goes on to outline the challenges there would be in eliminating the “arbitrage” between digital and physical cash:
A zero lower bound can be broken through a combination of (1) adopting or strengthening an electronic money standard in which electronic money is the unit of account and (2) implementing a time-varying interest rate (or more generally, rate of return) on paper currency (cash). Then, as the interest rate on cash moves in line with the official policy rates, there is no arbitrage between cash and money in the bank. Operationally this can be done while remaining quite close to the current monetary system, but there are several legal, communication, and political challenges to a transition to such an electronic money standard (Agarwal, and Kimball 2019).
(Despite the current rise in rates, once the money printers fire back up, this is where we’re headed).
#3) Total Information Awareness
Once it’s digitized in a centralized database (central banks) as opposed to being cryptographically secured on a decentralized blockchain (Bitcoin) – everything becomes known to central authorities instantly. Taxation can be applied per-transaction, but more interestingly – prices can also be modified on the fly.
If you’re behind on your property or income taxes – or have an unpaid fine (maybe because you’re fighting it), for example, they could simply enable a rolling garnishee on your wallet until it’s paid off.
While all transaction signatures are public on Bitcoin – they are pseudonymous and more importantly, unalterable. It’s true it may be known or discoverable that A sent sats to B, but there’s nothing any third-party can do about it. With Lightning on the ascent, combined with various privacy enhancements there – Bitcoin development is moving in the direction of more freedom and more privacy – which is the opposite direction of most Central Bank, Digital Currency (CBDC) initiatives.
Finally, whether Central Bank, Digital Currency (CBDC)s are launched with the noblest of intentions, there will at some point arise “an emergency” which will make it necessary for The People in Charge to “flip the switch” and turn them into:
#4) Social Credit Systems
Imagine if “LoonCoin” was a thing last year when the #FreedomConvoy hit Ottawa (and signalled the beginning of a worldwide revolt against Covid tyranny). Instead of emailing a list of bank accounts to be frozen that were cribbed from a (hacked) spreadsheet, they could simply direct the Bank of Canada to turn off everybody’s digital wallets who were in the vicinity of the protest, or who contributed to their crowdfund, or who retweeted the #HonkHonk hashtag.
Do you think they wouldn’t have done it?
Covid vaxports have already been weaponized in China, Brazil is doing it with their UBI program and when this is all formaized into a Central Bank, Digital Currency (CBDC), they will probably not launch it without the framework for widespread social credit and control systems being part of the plumbing.
We all know from our experience with the pandemic, emergencies tend to drag on in perpetuity. The “War on Terror” is still in effect, and there are still legions of collectivist automatons tweeting #CovidIsntOver.
So when “The Long Emergency” (to use James Kunstler’s term) becomes a never ending, rolling climate crisis, the social credit systems built into Central Bank, Digital Currency (CBDC)s will be used to enforce:
#5) Carbon footprint tracking
Back in Carbon Rationing, Central Bank, Digital Currency (CBDC)s and Sound Money I wrote how this trajectory is more or less baked-in now, and that the state-run financial system is undergoing a shift from a debt-backed monetary system to one based on carbon quotas.
Dashboard of Svalna’s app. Image credit Svalna.
This is the ultimate end-game of Central Bank, Digital Currency (CBDC)s. There is no hidden agenda or conspiracy around this (there’s already a Mastercard that cuts off your spending when you exceed your carbon quota), and globalist elites are quite up front about it….
Why Central Bank, Digital Currency (CBDC)s will ultimately fail
The developments of Central Bank, Digital Currency (CBDC)s is something we monitor in The Bitcoin Capitalist (formerly The Crypto Capitalist). Every month we put out our coverage of Central Bank, Digital Currency (CBDC)s in the “Eye On Evilcoin” section and it’s not always bad news:
There is still some time to stop Central Bank, Digital Currency (CBDC)s
Despite all the jawboning about Central Bank, Digital Currency (CBDC)s, nobody has really deployed anything viable. It’s all still design and planning – with some test beds going on. The few projects that have launched formal, actual Central Bank, Digital Currency (CBDC)’s have largely stiffed: Nigeria’s Enaira, Venezuela (lol). Even China’s much vaunted Digital Yuan had an underwhelming reception at last year’s Olympics (my suspicion is that the global financial system is unraveling faster than Central Bank, Digital Currency (CBDC)s can be developed, so they may have to go with something already out there, like Ethereum).
Worth noting, is that Brazil plans to deploy its Central Bank, Digital Currency (CBDC) next year.
I should note one exception to all the proposals out there in former CFTC Commissioner Chris Giancarlo (a.k.a “CryptoDad”) and the Digital Dollar Project. So far it’s the one proposal I’ve seen bucking the trend among all Central Bank, Digital Currency (CBDC) specifications in that there is no talk of expiry dates, and an actual emphasis on tokenization, custody and privacy.
SRH: Digital Currencies Granting Total Control Over Every Transaction, Even Limiting What Ordinary People Are Allowed to Spend Their Money On — Bitcoin Will Die Hard — “Central Bank Digital Will Be the Only Currencies” — (Central Bank, Digital Currency (CBDC)s) Are Exactly What’s Coming…
Say hello to Granite Ridge Soap-works! Use our handmade soaps to take good care of your skin. Our premium natural ingredients work together to create a silky, creamy lather that hydrates your skin. Chemicals, such as sodium lauryl sulfate, phthalates, parabens, or detergents, are never used by us. To ensure quality, we make all of our soaps in modest quantities. Visit our Etsy store right away to give them a try and the attention your skin deserves. GraniteRidgeSoapworks: Because only the best will do for your skin.
Use the code HNEWS15 to receive 15% off your first purchase.
Click this link for the original source of this article.
Author: StevieRay Hansen
This content is courtesy of, and owned and copyrighted by, https://hnewswire.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.