Zero Hedge: Central banks around the world are examining the use of digital currencies.
As of recent, central banks of the U.K., Sweden, Thailand, China, and the US are studying whether there are advantages of the digital form of their fiat money.
And the answer is yes, the government and banking elites will seize even more power from the people.
Called central bank digital currencies (CBDCs), this “digital fiat” — digital money can be directly sent to people’s bank accounts. It eliminates physical cash – which is the end game for banking elites.
A CBDC gives a government complete control over its currency. This will increase their financial-surveillance over the people. When a bank fails, there will be no bank run, because people can’t withdraw their money from that bank. This means when a financial crisis strikes, it will allow governments to do “bail-ins” where the people, like it or not, will be forced to take a haircut on their deposits to save the failing institution.
Opinion: The key word for 2020 is control
- Covid-19 pandemic quarantined over 3,000,000,000 people
- Covid-19 pandemic has the population still wearing masks 4 months later
- Covid-19 pandemic is causing tens of millions to be tested for the virus
- Covid -19 pandemic slammed the brakes on the global economy
- Covid-19 made the global population dependent on printed money (QE) from central banks
Now that’s a whole lot of control, yet it’s only the beginning. In our paper “The 1% and Revelation” we identify three economic events that will lead to the complete control of the global economy.
The first event is hyperinflation (Rev. 6:5-6) that puts the common man in frightening conditions. Runaway inflation causes desperation, as kitchen cupboards become empty and even when food is available, the price is too high for the average family. We see that in Cuba and Venezuela today as a result of price controls and Communist governments. The government elite, and 1% elite, are completely unaffected because of their vast wealth, and they continue to live in luxury.
The second event is very different. As Antichrist takes control of the west, the ability to buy and sell (Revelation 13:16-17) becomes controlled by the government. A mark on the right hand or forehead will identify all those who have pledged their loyalty to the all-powerful government and its very powerful leader. Since the church is not on earth at this point, it is likely that the 1% will lead the way in receiving the mark, to gain favor with the government.
It all starts with a cashless society and it is coming at warp speed. Think about how infrequently you use cash today.
For the third and final economic event see our paper, The 1% and Revelation: Do Not Harm the Oil and Wine here.