Posted on 12/17/2022 5:54:23 PM PST by george76
In mid-November, while the whole world was focused on the Ukraine crisis, the US midterms or whatever other “big story” the media decided was more important, a truly momentous shift took place in the global financial system. It might seem like a small step on the surface, but it has the potential to bring about a real and possibly irreversible sea change in the way we use money; or better said, the way it uses us.
As Reuters reported on the 15th of November, “Global banking giants are starting a 12-week digital dollar pilot with the Federal Reserve Bank of New York. Citigroup Inc , HSBC Holdings Pl, Mastercard Inc and Wells Fargo & Co are among the financial companies participating in the experiment alongside the New York Fed's innovation center, they said in a statement. The project, which is called the regulated liability network, will be conducted in a test environment and use simulated data, the New York Fed said. The pilot will test how banks using digital dollar tokens in a common database can help speed up payments.”
Shockingly enough, essentially zero attention was paid to the story. Most media outlets mentioned it in passing and offered little to no context that would make the unsuspecting reader aware of the implications of this development. There was no mainstream discussion or debate about what this means or about how it can affect the average citizen, and no politicians, Fed officials or other institutional figures called any attention to it and argued either for or against it. There was one notable exception, though, one high-profile individual that noticed what could mark the start of a tectonic shift and thought the rest of the world should notice too: Edward Snowden.
...
The aforementioned context that should have been provided to the average news reader that is not necessarily familiar with the concept of CBDCs (Central Bank Digital Currencies) would include at least a brief explanation what they are, what purposes they serve and how they compare to existing fiat paper money. As I outlined in previous articles, the stakes are too high for people to ignore this development. Whoever controls the money, controls everything and the rise of CBDCs threatens to make that control absolute, closing whatever little “loopholes” of freedom may still exist today.
To most citizens, savers and taxpayers, the transition to a digital dollar might seem harmless, or even beneficial, given that most of the population today associates digitalization with convenience and speed. Indeed, if one doesn’t understand the ins and outs of monetary history, of fiat money and of digital currencies, this concept appears totally innocuous. But even for many who do understand these things, it might seem like such a step would really make no difference. Junk money is junk money after all, be it physical or digital, it’s still backed by nothing, right?
Well, that is right indeed, but there’s a lot more to it. While the currency itself will continue to be worthless, its digital form will come with a bunch of perks and advantages for central planners. As Eswar Prasad, professor of trade policy and economics at Cornell University, puts it:
One should recognize that the CBDC creates new opportunity for monetary policy. If we all had CBDC accounts instead of cash, in principle it might be possible to implement negative interest rates simply by shrinking balances in CBDC accounts. It will become a lot easier to undertake helicopter drops of money. If everybody had a CBDC account, one could easily increase the balance in those accounts.
What this essentially means is that any choice that remains and any degree of financial sovereignty that is left in the present system could be easily wiped out by CBDCs. And its not only financial freedom that’s at stake: these centralized digital currencies can be used by governments to monitor, to control and even to directly punish dissenters, by blocking transactions, freezing their accounts or seizing they assets. Some might find that farfetched, but those are probably the same people who thought that China’s “Social Credit System” was implausible too, right up to the moment it was actually implemented.
I have Bible believing friends that should know better - should know the end times are coming
BUT
1) They have a fair amount of money and house probably paid off
2) They believe in the vaxx and AFAIK have taken all the shots and boosters 💉💉💉💉💉
(it was a demonic plan and worked wel)
It worked very well
Far better than I could have ever imagined
AND WORLDWIDE 🌍🌎
“1) They have a fair amount of money and house probably paid off
2) They believe in the vaxx and AFAIK have taken all the shots and boosters 💉💉💉💉💉”
_____
Well, where do they think this is headed? Do they think all will just return to how it was a few years ago? Back during a time when teachers were not grooming students into sexual encounters?
A time when you could trust both your heath insurance company AND your doctor?
A time when you could walk into the grocery store and purchase ten items without spending a hundred dollars?
Where DO they see this ending?
I don’t know.
Definitely true believers in the so-called vaxx.
It’s like I don’t know who they are anymore. Especially the guy.
The good fellows are not going to like this.
the newer generation is already their and accepted it as well as those that will eventually follow, how quick we accepted cell phones used to track us, and now accepting digital currency that is so easy and convenient while the government has its hand on your account if you don’t behave
IN what way do the several Non-Fungible Tokens, that are currently in the wallets of thousand of Americans with a total value approaching $$B, impact the Digital Monetary Standard?
It's time for the "[And] [So] [Now] It Begins" drinking game! Every time someone posts the neverending, pearl-clutching, hand-wringing
"[And] [So] [Now] It Begins"
- we take a drink!!
And so it begins....
And So It Begins.....
And so It begins
And so It begins
And So It Begins....
And so it begins
And so it begins.
And so it begins...
And so it begins.
And so it begins...
So it begins...
And so it begins.
And so it begins:
And so it begins.
So it begins,
So it begins.
And so it begins
and so it begins.....
And so it begins.
and so it begins.
And so it begins
And so it Begins….
A Romney we can respect (So it begins)
And So It Begins (Dollar Warnings)
And So It Begins! (And so it begins)
And so it begins....
(And So It Begins)
And so it begins again.....
School Is Renamed For Obama (And so it begins...)
So it begins.
And so it begins.
And so, it begins.....
And So It Begins...
And so it begins!
And so it begins.
And so it begins.
(so it begins...)
And so it begins.
And So It Begins.
And so it begins:
And so it begins...
And so it begins....
And So It Begins
(So it begins)
And so it begins?....
and so it begins.
So it begins.
And so it begins......
And so it begins..............................
So it begins.
And so it begins.
So it begins.
And so it begins.
So it begins.
It Begins…
So it begins.
It begins.
It begins.
and so it begins......
and so it begins......
It Begins"
And so it begins.
And so It begins…
"It Begins Again"
It Begins...
IT BEGINS: Ryan Releases Presidential Ad
It Begins...
It begins: In wake of California...
It Begins...Trump-Haters...
It Begins Again:...
So it begins.
It begins.
It begins:Facebook...
It begins.
And so it begins...
And so it begins.
...And So It Begins
It Begins…
And so it begins...
And so it begins ...
And so it begins.
And so it begins.
It Begins… Seizure
And so it begins...
And so it begins ...
And so it begins.
And so it begins.
And so it begins.
....and so it begins...
And so it begins.
And so it begins...
And it begins .....
And so it begins.
And so it begins.
So it begins,
...and the ominous ‘So It Begins’
And so it begins.
And so it begins ...
And so it begins...
It Begins: Illegal Immigrants ...
And so it begins ...
It Begins – Trump Administration ...
It begins!
IT BEGINS
and so it begins ...
It begins.
...it begins.
So it begins
And so it begins........... again
And so it begins.
It begins.
And it begins......
and so it begins.
And so it begins
It Begins! Ten Kushner Scandals..
And so it begins...
And so, it begins...
And so it begins...
And so it begins. Again.
So it begins.
So it begins. Sharia cometh..
And so it begins - Russia withdraws...
It begins!
IT BEGINS: Merkel’s Migrants..
And...so it begins.
And so it begins.
So it Begins:
And so it begins ...
Well, it begins!
As Drudge says: “It begins.”
and so it begins?
And So It Begins:
It Begins.
It Begins.
It Begins: Stubhub..
And so it begins...
It Begins… Far Left WaPo..
and so it begins..
It Begins: Axios'..
Now it Begins: The Deep State Strikes..
It Begins: Papa Johns Complains..
and so it begins...
November 4th It Begins...
And so it begins - the story is already changing...
now it begins.
And so it begins . . . . . . .
It Begins… GOP Lawmakers..
And so it begins.
IT BEGINS: WSJ Demands..
(so it begins)
And it begins.
Yes, it begins.
And so it begins!!!
Now it begins.
And so it begins...
And so it begins...
It Begins: ‘Secret Empires’...
It Begins: ‘Secret Empires’...
It Begins. Democrat Candidate...
It Begins: Illegal Immigrants...
...Now It Begins
It Begins: House Subcommittee...
..(It Begins)
It begins...
Hah! and so it begins.
It Begins!
And so it begins.
And so it begins!!!
And so it begins -
And so it begins...
It Begins!
It begins:...
So it begins.
And it begins...I hope Lets face it THIS is where IT BEGINS
It Begins
It begins
and so it begins.
Everybody grab a fainting couch while you're at it!
While this list is not complete, it demonstrates the fun you and your family can have at home while kissing your own butts goodbye!!
So bottoms up everyone!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.