Listen to Jimmy’s interview (beginning 35 seconds in) HERE
Read Jimmy’s Transcript …
Well, we’re going to bring our broadcast partner Ron Morro to the broadcast table.
Ron, a financial expert working in the Wall Street area for a number of years and involved in those financial activities that are key for operating this world and in fact the entire world.
I have an article posted on my top 10 news stories, the home page of prophecytoday.com, about China and a new digital currency. I’ll get to that in a moment. But let me see if I understand what I’m going to be asking you, Ron. I understand that today the world currency is the United States dollar, which means what, as it relates to the financial world?
Jimmy, the world reserve currency is only one currency that is in use by governments and central banks around the world for the purchase of commodities like wheat, corn, soybeans, and oil.
The reserve currency is used in all aspects of the global economy. And because of its size and strength, the dollar replaced the UK Pound Sterling as reserve currency in 1944 by a vote of 44 nations at a conference in Bretton Woods, New Hampshire. Since then, the nations of the world acquire dollars through international transactions and the purchase of Treasury bonds.
OK, then Ron, as I mentioned at the beginning of our conversation, we understand China has created a digital currency. I want you to explain what that is and how does it actually work?
Well, first, Jimmy the digital currency is an electronic equivalent of paper money and coins that can be stored in a digital wallet. So digital money is exchanged using technologies such as blockchain, smart phones, credit cards, and online cryptocurrency exchanges.
Now China has been working on the digital yuan since 2014 and launched it as a pilot project in 4 Chinese cities last year.
The digital yuan has now been expanded to 10 cities and provinces covering over 100,000,000 people where a program has been conducted in the form of lotteries. In the city of Shenzhen, for instance, the government gave away a total of 10 million yuan, about 1.5 million US, to about 50,000 people, which they could use with 3000 local merchants after downloading a digital app. So, this is China’s trial balloon.
OK then, and we understand how it works, what it is. This digital currency, as I have been reading and come to an understanding of, gives China an opportunity to keep close control of the Chinese people. How do they do that?
You know, China’s digital yuan is basically adding another element to its toolbox of surveilling and controlling its 1.4 billion people. It’s no secret that China is already known as the country in the world with the most pervasive surveillance, with over 500,000,000 cameras and the infamous Social Credit Score, but now with the creation of a digital currency the communist government can be confident that hardly any transaction will go unregistered.
Now, once the digital yuan becomes the only form of currency, the Chinese government will be a model for tyrannical governments around the world.
And that leads me to the next question.
Is this move by China with this digital currency a way to replace the United States dollar as the international currency?
Yeah, I believe the real purpose of China’s new digital currency is to challenge the longstanding global reign of the US dollar.
On October 1, 2016, the International Monetary Fund added the yuan to the basket of global currencies called SDRs, made up of the dollar, yen, euro, British pound, and the Chinese renminbi or yuan. The SDR, or special drawing rights, was created as a backup for the World Reserve Currency.
The addition of the yuan was a major boost for the legitimacy of the Chinese country and since then, China’s built up massive gold reserves to further strengthen their currency with the ultimate goal to replace the US dollar as World Reserve Currency.
Well, we know the US dollar is not able to control people across the world. However, will this new China digital currency have the capability or power over the world’s population as they do on the Chinese people today, there in their own country?
Yeah, I don’t think so. Even with China ‘s meteoric rise on the global stage and Beijing’s long hoped for physical currency to ride on the back of its economic success, a shift away from the dollar has not happened.
Jimmy, no global consensus exists today for China in the same way it did for the US in 1944, when the dollar was pegged as World Reserve Currency.
So, then you would not say this is a precursor to what is described there in Revelation Chapter 13, the mark of the beast in order to be able to buy or sell; or could this in any way be a precursor to the fulfillment of that prophecy?
I’ve often remarked on our blog that before this generation, there was no economic system on Earth that could be completely controlled by one government. The advent of Bitcoin in 2013 and a stable of over 200 coins that are not controlled by governments has forced the central banks to move forward on central bank digital currencies, or CBDCs, otherwise they’ll risk losing control of the money supply of the nations they represent.
Jimmy, the US Federal Reserve is moving forward with its own version of a digital currency even though it is now lagging the Chinese. Since the Fed would monitor every transaction, bank accounts will be unnecessary.
Because digital money will be programmable, it will change the entire structure of money. The Fed will be able to automatically deduct taxes, freeze funds, limit or deny transactions to go through.
Think about this, Jimmy, purchases of firearms, denied – fossil fuels, denied – unapproved medical care, denied – financial support for certain political candidates, denied.
Jimmy, just use your imagination on this one. So yes, I believe this is a precursor, making the road to Revelation 13:16 and 17 very real.
Boy, that is a very important statement that you just made, because that prophecy will come to pass at the midway point of the tribulation, 3 1/2 years after the rapture of the church.
This does set the time of the Rapture very, very close at hand.
Ron, a very important report. Thank you so much for your insight, for your research, and helping us to better understand it. I know you do this on your website as well. I would love for you to give your website address to our listeners.
Thank you, Jimmy. Yes, our website is prophecytracker.org.
We’ve been around since 2010 and we post headlines and post opinions pretty much throughout the entire day.
Prophecytracker.org. Ron, thank you so very much. I appreciate it buddy. We’ll have you down the line come back and give us more important information about the financial activities, economy of the world. Thank you, buddy.
Thank you, Jimmy, for having me on and God bless.
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