Posted on 02/08/2023 3:51:35 AM PST by fluorescence
[snip]
"We propose a limit of between 10,000 pounds and 20,000 pounds per individual as the appropriate balance between managing risks and supporting wide usability of the digital pound," [BoE Deputy Governor Jon Cunliffe] said in a speech to members of UK Finance, a banking industry body.
A limit of 10,000 pounds would mean that three quarters of people could receive their pay in digital pounds as well as holding pre-existing balances in the same account, while a 20,000 pound limit would allow almost everyone to use digital pounds for day-to-day transactions, Cunliffe said.
(Excerpt) Read more at msn.com ...
Plutocrats: Trying to keep the little people little since forever.
This is not enough to cover bribes to politicians—I guess they will have to be paid the balance in whores and coke.
They’re coming.
I realize this is England, but don’t think for a minute that the politicians and bureaucrats in DC aren’t watching how this plays out and planning their own moves
The US has a digital dollar in the works. It is complete. They probably have to roll it out before the 2024 elections, to prevent Trump from getting in their way again.
10,000 Pounds! Boy Howdy! Five tons of digitals.
Is that in metric tonnes or imperial tons?
Oh, they already have a very effective means to keep Trump from getting in their way. They showed the world how it’s done in November 2020 and 2022.
Sure, they’ll be going that way eventually (”You’ll own nothing and be happy”), but this smacks of Tavistock Institute manipulation to create demand by faking scarcity.
There’s no logical basis to their claimed need to limit per person balances.
Let’s say you have 100,000 pounds sterling in the bank. This is not THAT much, equal to about 121,000 US dollars.
Furthermore, say the government wants to force everyone to use the digital pound.
What would happen to your “excess” 80K pounds sterling?
Maybe the new system is cheaper to run than the current bank skim on credit cards and checking?
The underground economy is run by cash. The illegal alien population uses primarily cash.
That said, a digital government currency will facilitate greater control and surveillance over the people.
“Digital Currency” is a sham - it removes actual currency and makes it a concept vs. a reality.
We digitally move real currency with credit/debit cards, auto payments/txfrs, etc.
The difference is that there will be no currency with actual value.
There is no advantage for you. It’s for them. They will control you. You will never be in possession of your own money. They will monitor every transaction you make. Win $1000 on a super bowl bet? They will tax it. ….this is the least of it.
It will be programmed. Use it or lose it. The economy needs to be “stimulated” so you need to spend your money or it’s deactivated. You will only be allowed to save what they allow you to save. At negative interest rates where you pay for the privilege of them controlling your money and allowing you to save anything at all.
Their end game is control. You will only spend as much as they allow, where they allow and on what they allow you to buy.
No ammunition for you. No red meat but all the cricket-burgers you want. You already bought your 10-gallon gas ration this month. No more for you. Climate change ya’ know.
Oh…and your anti-biden post on free republic? No airline tickets for you.
You will be a slave.
Revelation 13:16-17
16. And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads
17. And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
I always wondered how governments would be able to control cash during the end times. But if there is no physical cash then it is easy.
Of course you will be offered a time interval to trade it in.
Often that, owning it will be punishable by imprisonment or death.
Unless, of course, your are an “Inner Party Member”.
Digital currency is a Fiat Currency on steroids for Tyrants with the additional benefit of unfettered control of the populace in ways unimaginable with a paper currency.
Digital currency is pure, unadulterated evil.
They don't want people working under the table for cash or hoarding cash. The citizenry dutifully follows their government's tyranny.
Sadly, we'll be joining them soon.
The underground economy will give rise for the need of an instrument to coerce the full implementation of the digital currency. The mark of the beast will be used to force a digital currency.
Digital Currency = Dystopia / Tyranny
Digital currency is by design requires tracking who has it and exactly what it is just for and where did it go. It is programmable such that it can be barred from use with “rules”. It can be immediately “frozen” by the government at any time. 100% of it in your possession. The government can put rules in place limiting it’s use in any creative way you can imagine. The government has also confiscate it with the stroke of a keyboard using whatever imaginative ways it creates (negative interest rates, required spent it or lose it rules, or even disfavored groups or individuals whom the government claims to be, say, domestic terrorists, without trial or conviction of course).
With digital currency, your money is no longer yours, it is theirs.
With digital currency, you are automatically a peasant in a Dystopian system.
Trade it in for WHAT?
It’s money. Since you’re only allowed to have 20K pound digital, what can you do with the 80K pounds sterling left? Will they let you keep sterling, in leiu of digital?
Use it or lose it? Buy an electric Land Rover? Some solar panels for those so often sunny English skies? How about donate it to the Crown? The NHS? Immigrants? The Muslim Brotherhood Benevolent Fund? Greta Thunberg?
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