Zero Hedge: One of the most potentially far-reaching trends in the financial landscape right now is the imminent roll-out of Central Bank Digital Currencies (CBDCs), and the parallel attacks which central bankers are waging on private digital currencies and tokens as they tee up the launch of their CBDCs.
First some clarifications. While the majority of central bank issued currencies (fiat currencies) in existence around the world are already in digital form, a fiat currency held in digital form is not the same as a Central Bank Digital Currency (CBDC).
What is a CBDC?
A CBDC generally refers to electronic or virtual central bank (fiat) money that is created in the form of digital tokens or account balances which are digital claims on the central bank. CBDCs will be issued by central banks and will be legal tender.
Many CBDCs that are being researched and developed employ Distributed Ledger Technology (DLT), with the recording of transactions on a blockchain.
However unlike private cryptocurrencies which use a permissionless and open design, CBDCs that use DLT will use permissioned variants (deciding who has access to the network and who can view and update records in the ledger). See here for a discussion of permissionless vs permissioned blockchains. Read More …
Opinion: A 2500 year old prophecy found in Ezekiel 7:19 speaks of a time of massive economic change that will take place during the Day of the Lord, or 7 year tribulation period.
‘They will throw their silver into the streets, And their gold will be like refuse; Their silver and their gold will not be able to deliver them In the day of the wrath of the LORD …” Ezekiel 7:19.
Five hundred years later, the Apostle John prophesied in Revelation 13:16-17 how that massive economic change will work. There will be no need for gold or silver, or any other form of payment, because the complete government control of commerce will be done with a ‘mark’ on the right hand or forehead.
No mark = no food, medical care, or anything else.
This could not have happened before this generation, and the coming Covid passport heightens the prophecy.
My last interview with the late Dr. Jimmy DeYoung took place on July 31, 2021:
Jimmy DeYoung Interviews Author: Communist China’s New Plan – Digital Currency