Zero Hedge: The idea of creating a fully digital version of the U.S. dollar, which was unthinkable just a few years ago, has gained bipartisan interest from lawmakers as diverse as Sens. Elizabeth Warren (D-Mass.) and John Kennedy (R-La.) because of its potential benefits for consumers who don’t have bank accounts. But it’s also sparking strong pushback from those with the most to lose: banks.
“The United States should not implement a [central bank digital currency] simply because we can or because others are doing so,” the American Bankers Association said in a statement to lawmakers this week. The benefits “are theoretical, difficult to measure, and may be elusive,” while the negative consequences “could be severe,” the group wrote.
The explosive rise of private cryptocurrencies in recent years motivated the Fed to start considering a digital dollar to be used alongside the traditional paper currency. The biggest driver of concern was a Facebook-led effort, launched in 2019, to build a global payments network using crypto technology. Though that effort is now much narrower, it demonstrated how the private sector could, in theory, create a massive currency system outside government control.
Now, central banks around the world have begun exploring the idea of issuing their own digital currencies.
Opinion: How interesting that central bank digital currency (CBCD) is arriving at the same time as talk of digital passports, and not one of these government geniuses seem to be able to connect the dots to Revelation 13:16-17 and the Mark of the Beast.
Says Elizabeth Warren:
“Legitimate digital public money could help drive out bogus digital private money, while improving financial inclusion, efficiency, and the safety of our financial system — if that digital public money is well-designed and efficiently executed,” she said at a hearing on Wednesday, which she convened as chair of the Senate Banking Committee’s economic policy subcommittee.”
What the senator from Massachusetts clearly misses is that the US financial system has been like a dead man walking since 2009 when the Federal Reserve instituted quantitative easing (QE), pumping $1 trillion printed counterfeit dollars into the financial system.
By 2013, printed money debt rose to $4 trillion and by 2020 another $6.8 trillion was added to the Fed’s balance sheet to backstop the global economy due to the Covid-19 shutdown.
What the senator does not know is that Bible prophecy predicts global hyperinflation that happens when a nation’s currency crashes.
Treasury Secretary Janet Yellen called it a ‘30 year race to the bottom‘ urging her counterparts around the world to join her in embracing a global minimum tax to save the world economy, ignoring the fact that when you tax something, you only get less of it.
If/when the US economy fails, Europe and the rest of the world will follow – as nicely illustrated here: