The WEF and the Bank for International Settlements (BIS) are acknowledging the difficulty of introducing such a system without opposition, so, they are recommending incremental introduction using “interlinking systems” (attaching CBDCs to paper currencies and physical contracts and then slowly but surely destroying those assets and making digital the new norm).
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Whatever happened to the WEF? One minute they were everywhere in the media and now they have all but disappeared from public discourse. After the pandemic agenda was defeated and the plan to exploit public fear to create a perpetual medical autocracy was exposed, Klaus Schwab and his merry band of globalists slithered back into the woodwork. To be sure, we’ll be seeing them again one day, but for now the WEF has relegated itself away from the spotlight and into the dark recesses of the Davos echo chamber.
Much of their discussions now focus on issues like climate change or DEI (Diversity, Equity, Inclusion), but one vital subject continues to pop up in the white papers of global think tanks and it’s a program that was introduced very publicly during covid. Every person that cares about economic freedom should be wary of Central Bank Digital Currencies (CBDCs) as perhaps the biggest threat to human liberty since the attempted introduction of vaccine passports.
The WEF recently boasted in a new white paper that 98% of all central banks are now pursuing CBDC programs. The report, titled ‘Modernizing Financial Markets With Wholesale Central Bank Digital Currency’, notes:
“CeBM is ideal for systemically important transactions despite the emergence of alternative payment instruments…Wholesale central bank digital currency (wCBDC) is a form of CeBM that could unlock new economic models and integration points that are not possible today.”
The paper primarily focuses on the streamlining of crossborder transactions, an effort which the Bank for International Settlements (BIS) has been deeply involved in for the past few years. It also highlights an odd concept of differentiated CBDC mechanisms, each one specifically designed to be used by different institutions for different reasons. Wholesale CBDCs would be used only by banking institutions, governments and some global corporations, as opposed to Retail CBDCs which would be reserved for the regular population.
How the value and buying power of Wholesale CBDCs would differ is not clear, but it’s easy to guess that these devices would give banking institutions a greater ability homogenize international currencies and transactions. In other words, it’s the path to an eventual global currency model. By extension, the adoption of CBDCs by governments and global banks will ultimately lead to what the WEF calls “dematerialization” – The removal of physical securities and money. The WEF states:
“As with the Bank of England’s (BOE) RTGS modernization programme, the intention is to introduce a fully digitized securities system that is future-proofed for incremental adoption of DLT (Distributed Ledger Technology). The tokenization of assets involves creating digital tokens representing underlying assets like real estate, equities, digital art, intellectual property and even cash. Tokenization is a key use case for blockchain, with some estimates pointing towards $4-5 trillion in tokenized securities on DLTa by 2030.”
Finally, they let the cat out of the bag:
“The BIS proposed two models for bringing tokenization into the monetary system: 1) Bring CBDCs, DTs and tokenized assets on to a common unified ledger, and 2) pursue incremental progress by creating interlinking systems.
They determined the latter option was more feasible given that the former requires a reimagination of financial systems. Experimentation with the unified ledger concept is ongoing.”
They can go and stuff themselves, lets get rid of the central banks run by the deepstate
Yes, North Dakota has their own STATE BANK, a PUBLIC bank that they set up long ago and it saw them nicely through the engineered crash of 2009… And now other states are moving in a separate attack, with gold bullion Depository ideas and credit cards to do the conversions… Time for each state to act like this a republic of states..
ttyl
Definitely a red line in the sand, I for one will never accept the digital ID anymore than I would accept the “mark of the beast” which it is, or may become. Might as well be a branded slave and no more pretense. Without it I’m sure we won’t be able to use the privacy destroying total control system that CBDCs are meant to be.
Big deal, they didn’t move their time table [set last month] AND
by 2030 a WHOLE LOT of foundational changes can/will make this a nothingburger
ttyl
THE FEDERAL RESERVE BEHIND THE CURTAIN Alasdair Macleod in THE INTEREST RATE DILEMMA seems to miss the point. [Ref. https://alasdairmacleod.substack.com/p/the-interest-rate-dilemma ]. A stable economy is not the Fed’s objective. Benjamin Ginsberg in FATAL EMBRACE documents numerous historical European Rothschild national banking ventures that were driven into bankruptcy FOR THE PROFIT OF THE BANKERS and resulted in total social chaos. The Federal Reserve will be the sequel for Ben. Profit for the Rothschild private owners of the Fed is the goal. Every $34 Trillion of deficit spending has been a covert dollar of profit for the private Rothschild owners of the… Read more »
The De-Google your Life session was very good, thank you for hosting that talk!