Canada Free Press: We are at the crossroads of the dollar losing its prominence and value in the world and the danger of accepting a digital currency controlled by an all-powerful globalist government in exchange for an empty promise of “convenience”
The Covid-19 viral pandemic has accelerated the implementation of most of the 17 goals of the U.N. Agenda 2030. One such goal still remains unresolved, the central bank digital currencies (CBDC), sold as wholesale and retail. The wholesale CBDC would be used by financial institutions while the retail CBDC would be used for consumption.
The globalist plan is that, instead of using fiat currencies, paper money and coins, all governments would issue a credit-based system whereby balances and all transactions are recorded digitally. Once paper money and coins disappear from circulation, no new money will be printed or issued.
“ He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads” Revelation 13:16
The immediate problem with such entirely digital transactions is that the banksters plan to make digital money expire if they are not spent. Additionally, the government will control everything you spend and will approve or disapprove your spending if they deem it helpful or harmful to your health, you are spending it on things not approved by a bureaucratic entity, and balances and expenditures will be tied to social credit scores based on the Chinese Communist Party model.
The primary reason for such a centralized digital system is power and total government control over the lives and activities of all citizens on the planet. Citizens would become totally dependent for their existence on a government who can and will take things away at whim if one does not behave appropriately.
Investopedia attempts to explain that the goals of a CBDC is to “provide businesses and consumers with privacy, transferability, convenience, accessibility, and financial security.” If a person gives total control of its finances to an unseen, unaccountable government entity, he/she will not have privacy, financial security, transferability, accessibility. He/she may have convenience. But convenience for whom?
The government wants to make sure that all earned and transferred cash must be taxed and not earned under the table in cash.
Other lame reasons for adopting digital currencies are simplicity – there will be no need for a “complex financial system;” cross-border transaction costs would be eliminated; and illegals would not incur money transfer costs.
After Covid-19, the proponents of CBDC argue, people were not using cash anyway for fear of contamination. Proponents also argue that CBDC is good for people who do not have access to banks (5% of adults do not have a bank account). Could it be possible that it is their choice not to have a bank account?
Proponents of CBDC also argue that 13% of adults with bank accounts use services like money orders, payday loans, and check-cashing services which the government deems ‘expensive.’ The real issue here is that such money is usually untaxed. The government wants to make sure that all earned and transferred cash must be taxed and not earned under the table in cash.
“A CBDC also provides a country’s central bank with the means to implement monetary policies to provide stability, control growth, and influence inflation.” This is not true. Each country has a central bank already which is engaged in monetary policy, controlling the money supply, and the interest rates. Government activity, direct and indirect, actually causes inflation through its out of control spending and printing of money without any backing of goods and services. To say that a digital currency would actually curtail government spending is ridiculous.
Proponents of digital currencies argue that such a digital currency would avoid the volatility in the market, another false statement. During a financial crisis, there will not be enough bank liquidity to facilitate withdrawals when most customers would need their money.
To say that all this was not carefully orchestrated, it would be an understatement
Proponents of CBDC admit that privacy is an issue with digital currencies because authorities [read government] would have total power to monitor all transactions for financial crimes, social crimes, money laundering, and financing terrorism. Additionally, hackers and thieves will have a centralized hub to steal from, a much easier job.
It is not comforting to see what third world countries have adopted the CBDC system: the Bahamas, Antigua and Barbuda, St. Kitts and Nevis, Monserrat, Dominica, Saint Lucia, St. Vincent and the Grenadines, Grenada, and Nigeria. India’s central bank announced that it would introduce a digital rupee by the end of 2023. Sweden, with its 9 million citizens, experienced a reduction in the use of cash so it is developing an e-krona. What Is a Central Bank Digital Currency (CBDC)? (investopedia.com)
The Chinese are already offering discounts to their own citizens if payments are made in their country’s central bank digital currency (CBDC). One example, if passengers on buses, subway, and rail services pay fares from a digital yuan mobile wallet issued by the Industrial and Commercial Bank of China, they pay as little as 0.01 yuan for their trip. It is safe to say that a Chinese national is totally controlled by the CCP from cradle to grave.
To say that all this was not carefully orchestrated, it would be an understatement. During the Covid-19 lockdowns in 2020, the use of cash and coins was discouraged everywhere under the pretext of shortage. Signs appeared by cash registers everywhere, “does not take cash,” and to this day the signs are still up.
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