Warning On CBDC
Central Bank Digital Currencies (CBDCs) pave the way for an authoritarian government in America similar to the Chinese communist regime.
From the article: Robert F. Kennedy Jr. Issues Dire Warning Over CBDC Adoption, Epoch Times, 25 March 2024:
Independent presidential candidate Robert F. Kennedy Jr. warned that central bank digital currencies (CBDCs) pave the way for an authoritarian government in America similar to the Chinese communist regime.
"I'm against central bank digital currencies because that is part of the path to getting us where China is today. That's where they started, that's where all these other countries started with central bank digital currency, and it's the end of freedom. We will be slaves if we allow that to happen," Mr. Kennedy said during a March 22 event. He pointed to the Canadian trucker's protests to explain why CBDCs were dangerous for freedoms...
"The government used facial recognition systems and other intrusive technologies to identify the participants, all the truckers. They got their license plates, etc. And then they froze their bank accounts. So they couldn't get diesel for their trucks, they couldn't buy food for their kids, they couldn't pay for their education, they couldn't pay their mortgages."...
In China, people pay for groceries and gasoline using their "face," he said, referring to facial recognition systems. The Communist regime keeps a social credit score on its citizens so that anyone found violating regulations will face penalties and restrictions, like potentially restricting an individual's access to grocery stores within a certain radius of their house or workplace...
...in January, President Trump vowed to "never allow" the U.S. Federal Reserve to issue a CBDC....
"The Biden administration salivates at the thought of infringing on our freedom and intruding on the privacy of citizens to surveil their personal spending habits, which is why Congress must clarify that the Federal Reserve has no authority to implement a CBDC," Mr. Cruz said in a Feb, 26 statement...
SWIFT Planning Launch of Central Bank Digital Currency Trading Platform in 12 Months, The Last Refuge, 25 March 2024:
...The US Treasury has set the financial system on an almost irreversible path to a U.S. Central Bank Digital Currency. As direct consequence, crypto currency alternatives are a threat to the establishment of that Western objective. This reality also pulls in the explanation around why the USA is so all-in for the banker-driven World War Reddit – the Russia-Ukraine conflict.
Conflict with Russia created the opportunity for the USA to create a sanctions regime that doesn't truly sanction Russia; instead it controls the world of USA dollar-based finance. At the end of that control mechanism is a digital dollar, a Central Bank Digital Currency…. and by extension full control over U.S. citizen activity. The Marxist holy grail...
...they have already built the system.
If the system is built, and they are now making policy recommendations for implementation, the question becomes, 'What's the goal'?...
Transcript – Dr. Malmgren: "What underpins a world order is always the financial system. I was very privileged. My father was an adviser to Nixon when they came off the gold standard in 71. And so, I was brought up with a kind of inside view of how very important the financial structure is to absolutely everything else.
And what we're seeing in the world today, I think, is we are on the brink of a dramatic change where we are about to, and I'll say this boldly, we're about to abandon the traditional system of money and accounting and introduce a new one. And the new one. The new accounting is what we call blockchain.
It means digital, it means having a almost perfect record of every single transaction that happens in the economy, which will give us far greater clarity over what's going on. It also raises huge dangers in terms of the balance of power between states and citizens.
In my opinion, we're going to need a digital constitution of human rights if we're going to have digital money. But also this new money will be sovereign in nature. Most people think that digital money is crypto, and private. But what I see our superpowers introducing digital currency, the Chinese were the first the US is on the brink, I think of moving in the same direction the Europeans have committed to that as well...
...President Trump announced he would never allow the creation of a central bank digital currency...
On The Brink Of A Dramatic Change: The Digitalization Of Money, by Efrat Fenigson via Bitcoin Magazine, 29 March 2024:
... Central Bank Digital Currencies (CBDC), tie the financial freedom of citizens to the government and the banking establishment. The central bank issues its centralized digital currencies, and essentially creates a new monetary system, "fiat on steroids", a system that takes everything that is bad in the fiat system, and adds more of it; surveillance, control, censorship, and enforcement capabilities. A modern prison? Indeed, the CBDC is the ultimate prototype of a prison without physical chains. By connecting CBDCs to digital identity cards, and to government systems such as universal basic income, social credits and more, we get the ultimate control apparatus. This apparatus will dictate to citizens what they’re allowed to purchase, what the permitted quotas are while limiting consumption according to rules and use cases, at programmed times, places and cadences. The system is able to determine the use of a geographic radius (geo-fencing), and to determine expiration dates on the money. Each remote controlled digital wallet can also be switched on and off by its operators...
... one of the most famous Bitcoiners, Max Keiser... compared the CBDC to a parasitic and centralized cancer: "If you were to look at the amount of energy that Bitcoin uses and the rate at which it's increasing, you would say good is triumphing over evil. So this gives me a lot of hope. And I don't think centralization in anything works at all, except cancer. Cancer is the only thing that seems to work to be overly centralized and parasitic. That's the cancer model, but I think we're gonna win against the cancer of CBDCs.”
House Passes Anti-CBDC Bill to Prevent Financial Surveillance of Americans - Unlike decentralized cryptocurrencies, a CBDC is a digital version of a currency that is designed, issued, and controlled by a government, Epoch Times, 24 May 2024.
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Several States Take Steps To Block A Central Bank Digital Currency, Zero Hedge, 21 May 2024.