PROGRAMMABLE CENTRAL BANK DIGITAL “CURRENCY”
For some time now, people like former Assistant Secretary of Housing and Urban Development Catherine Austin Fitts and many others - including yours truly - have been warning about the dangers of crypto-currencies, and more especially, of Central Bank Digital Currencies or CBDCs. Our warnings have consistently centered around three basic dangers they carry with them: (1) they are not energy efficient, and as electronically based systems can be subject to outages such as electro-magnetic pulse and so on, and additionally as cyber-systems, suffer from the lack of integrity in such systems. Indeed, when I first heard about them, one of my own personal warnings was that in spite of claims to the contrary, they could be hacked. Stories have finally appeared to this effect. (2) Contrary to claims of privacy and to the early claims that crypto-currencies spelled the end of central bank private money monopolies, such technologies in the hands of central banks, with the power to mandate their use and to outlaw others, would spell the end of privacy. Finally and most importantly (3) such currencies in the hands of central banks, coupled with social credit scoring systems, would effectively not be a currency at all, but more like corporate coupons whose value (or lack thereof) could be adjusted on a case-to-case basis, depending on your behaviour and your thinking.
These may seem like outlandish ideas, but the following article shared by V.T. provides confirmation of these basic theses:
Let us be clear about the developments outlined in this article: while these "currencies" may be new, they are not normal nor are they currencies. Note the following statements:
For those who have never heard of them, “Central Bank Digital Currencies” (CBDCs) are exactly what they sound like, digitized versions of the pound/dollar/euro etc. issued by central banks.
Like bitcoin (and other crypto), the CBDC would be entirely digital, thus furthering the ongoing war on cash. However, unlike crypto, it would not have any encryption preserving anonymity. In fact, it would be totally the reverse, potentially ending the very idea of financial privacy.
Now, you may not have heard much about the CBDC plans, lost as they are in the tangle of the ongoing “pandemic”, but the campaign is there, chugging along on the back pages for months now. There are stories about it from both Reuters and the Financial Times just today. It’s a long, slow con, but a con nonetheless.
The countries where the idea progressed the furthest are China and the UK. The Chinese Digital Yuan has been in development since 2014, and is subject to ongoing and widespread testing. The UK is nowhere near that stage yet, but Chancellor Rishi Sunak is keenly pushing forward a digital pound that the press are calling “Britcoin”.
Other countries, including New Zealand, Australia, South Africa and Malaysia, are not far behind.
The US is also researching the idea, with Jerome Powell, head of Federal Reserve, announcing the release of a detailed report on the “digital dollar” in the near future.
And here's the rub, and it directly confirms the warnings of Catherine Fitts and others regarding the true nature of CBDC's: they are not money nor currency in any sense:
The proposals for how these CBDCs might work should be enough to raise red flags in even the most trusting of minds.
Most people wouldn’t like the idea of the government monitoring “all spending in real-time”, but that’s not the worst it.
By far the most dangerous idea is that any future digital currency should be “programmable”. Meaning the people issuing the money would have the power to control how it is spent.
The article then links a video of Agustin Carstens, head of the Bank of International Settlements (BIS), and in case one missed it, actually cites him a little later in the article:
Here’s that quote again, with some emphasis added:
The key difference [with a CBDC] is that the central bank would have absolute control on the rules and regulations that will determine the use of that expression of central bank liability, and the have the technology to enforce that.”
…which tells you not only that they want and are seeking this power, but how they justify it to themselves. They transform other people’s money into an “expression of their liability”, and so consider it’s only right that they control it.
An article in the Telegraph, back in June, was just as candid [our emphasis]:
Digital cash could be programmed to ensure it is only spent on essentials, or goods which an employer or Government deems to be sensible
The article goes on to quote Tom Mutton, a director at the BoE:
You could introduce programmability […] There could be some socially beneficial outcomes from that, preventing activity which is seen to be socially harmful in some way.
It does not take a particle physicist to understand that if central banks can program their digital "currency" on a case-by-case individual basis to be spent only on certain things, the same capability also gives them the ability to determine the value of that "currency" on a case-by-case individual basis. In short, the same technology enables both the end of financial privacy and makes the "currency" into a corporate coupon. This is a one way mirror behind which the banksters can operate with impunity, and is tailor-made for even more financial fraud.
Q.E.D.
So how does one combat this? There are two simple solutions: do not bank with the big banks, use cash as much as possible in transactions, and start building networks with the realization that sooner or later, those networks might have to create currencies of their own.
See you on the flip side...
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Trying to use only cash once a week, or even several times a week, won’t accomplish anything, other than experiencing business people who don’t want to see you again, other than making you schedule your actual important activities around your new hobby, doing you real financial activities on your non-hobby days, and you experiencing a lot of aggravation.
The problem is the thriving existence of the cancerous CIA, FBI, Fed, the “interagency”… The PROGRAM is for common people to be SERFS, SERFS do not think in terms of archaic “Constitutions” born of the Enlightenment, certainly not “Bills of Rights”, and they shouldn’t have weapons beyond kitchen knives and sling shots.
You can’t deal with genuine dangerous evil by attending carnivals.
Most interesting Doctor, that facebook, instagram and whatsapp went down for nearly 6 hours on Monday.
Normally outages get resolved fairly quickly. They are normally localised too, with some people unable to open a website that can be viewed in another country.
However, this outage was Global, and affected all of facebooks many spin offs!
The length of time it was off-grid is also very unusual. Fascinating too, that the outage hampered facebooks ability to tackle the crash – bringing down their internal tools needed to remedy the problem.
Therefore, don’t rule out foul / dirty play.
I wonder if any of those secret cyber countries in the Middle East, who are not allowed to be criticized are involved?
Federal Reserve was based on fraud.Whatever follows has to be more of the same.AI is now able to distinguish via well defined patterns a type of credit system that rewards the compliant herds and penalize
Humans.
What can you expect from these parasites they have no idea of how society really works to begin with. Anyway digital currencies are a deep state secret agencies corporations’ wet dream for turning the rest of us into their helots’ thralls. Does anyone know if the series Max Headroom is available on DVD it’s from the last century it is more timely today than when it was broadcast about forty years ago.
This:
“HEADROOM, MAX…”
https://youtube.com/playlist?list=PLlx0fA4VvzpjXb1Y53eK7Bf7_tD88Jlh6
Apparently the original Max Headroom was from Britain in 1985.
First series was an immediate hit. They did a second series.
The final spin-off came from America running two short series/87-88.
I meant the series with Matt Frewer and Amanda Pays as the prime characters in the series. There are a few copies of the series on Amazon for sale.
Following you question up I checked w/my local library and just ordered a copy of the complete Max Headroom DVD series. There are 5 discs totaling 660 minutes; “contains all 14 episodes from the series”.
From Shout! Factory 2010. Originally broadcast on television 1987 – 1988.
I had heard of it, but never watched it.
So its out there.
I’m looking forward to watching it.
Thanks for the tip!
https://www.amazon.com/Max-Headroom-Complete-Matt-Frewer/dp/B00005JNU5
Found this link. I enjoyed the show, one of the few at the time when satire was allowed and writers knew how to capture our culture.
Normal currency? There are accepted currencies, imposed currencies, even molded currencies (the stuff of metals, jewels, and printed papers) all of which are meant to offer an agreed upon method of exchange and barter. Then there are the long-established currencies of markets and sovereign countries as they apply to the local folks therein. They might seem normal as one is indoctrinated from birth onward. More as accepted then not. One would suggest that that is where this mindset of normal seems apparent.
Establishing a primal source of worth for any exchange modality must still be by agreement. Agreement of the users no matter what barter representation of exchange is chosen. Curtailing cravings outside of needs will take some doing as it is a species tasking.
I had to buy a shower pan liner for a shower I’m tiling at Home Depot. They had a sign that you had to have exact change to purchase anything with cash. I don’t bank because I hate banks and will never bank because how can you when you know what their owners are really about? I went through the roof because everywhere else in town was out of them but luckily had correct change on me. This is beginning to mess with my livelyhood and business. When things go forcibly cashless what will they do when their cashless infrastructure crashes or worse? I don’t see it lasting long especially if it’s abusive and intrusive.
Speaking about solutions, the most powerful currency seems to me: friendship & mutual aid. It does not depend on any government and you can basically get everything that is important with it. Remember however that one does not get someone else’s friendship completely for free.
Other important currencies are to stay healthy, modest and foresighted, and also any means not to depend on institutions or infrastructures…
Right about health. in one’s opinion, health & wellness are key components to exercise viable management over as they’ll be needed throughout ones corporeal life span.
Doc, CAF and all, knowing what little I know about myself and the world I need to agree 1000% here and consider going further. We need our own networks fonancial and otherwise to bypass this beast system. Given our current knowledge and experience, or at least mine, we might want to start here and now. And expect rewrites and new drafts on the ideas. The how of it is beyond my sight yet.
Who better to start such a network / system with that this group though?
I’m thinking the same way, Zen. Only, I wonder: How wise is it to start such networks via the internet? The ideal way to start them is with people in your local area whom you already know and trust. Yet some people (like me…) might not have a lot of like-minded, trustworthy people nearby. This all needs some thought and experimentation, but like you suggest, everybody ought to start thinking about it right now, if they haven’t already.
If they go cashless, then I’ll have to give my customers a list of things to get me worth the amount the job is worth. Maybe have to have my rent, utilities bills, and gas tank filled as well by customers who need my services.
Yes, just please, please, do not give me unplucked chickens( et. al).
If Zuckerberg thought he could be using his network to create face-coin, looks like he’ll need to have another think.
In one’s view, the social media platforms have a long way to go where trust is concerned. The have yet to start.
I often wonder, if this monetized weapon of power, is writ large throughout the galaxies; in different forms & shapes of control?
These “Digital Coupons” being just part of the galactic deliverance narratives; designed & implemented, to escape into other “control” futures.
A galaxy of tested routes, from other pasts, out of a similar presents; to ones designed w/even more controls and inhuman consequences?
Hmmm. Möf.
is it possible that the release of the Pandora Papers is a “problem–reaction–solution” function, as in “something must be done!” “track all the funds” etc. https://journals.sagepub.com/doi/full/10.1177/2158244018762999
More like a pressure valve?
Although I haven’t read but the headlines; in my experience, the CIA press would expose those target of convenience, to further their streamlined costs and controls.
In other words, it’s their compet1tion, and people they no longer need; that have the media assassination “Pandora” crosshairs, moving on to targeting them.
billions beyond reach
https://www.washingtonpost.com/todays_paper/updates/
oct 4 2021
Yes it is
@LAURA … With nearly 12 million financial documents to get blurry-eyed syndrome by it’s likely going to be one of those “follow the money” adventures for those who have the time and clout to act, if any action to be taken.
While all the privacy issues should indeed be heeded, Tom Luongo does a rather lengthy but interesting take on the energy aspect: https://tomluongo.me/2021/10/02/energy-subsidies-bitcoin-and-the-socialist-takeover-that-isnt/. He highlights bitcoin as the vehicle exposing the structural weaknesses in the grid (China’s) and in a true capitalist sense, the ‘mining’ (always found that word choice of great interest considering the coin is thought of as competition for gold/silver) follows the weak spot to find the subsidized waste.
Well( bottomless? lol.), that does raise the question of whether “bitcion”, or rather what is now also known as ‘distributed ledgers'( legerdemain??) or even ‘hashgraph’ was, originally, invented by the CSS( =NSA) in order to be able to take the CCP down, perhaps even in one fell swoop, doesn’t it???
This article about the cryptography of electronic cash from June 1996, predating cryptocurrencies by about 13 years, seems to have some kind of NSA connection. https://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm
Yup.
They had to wait for the internet(speed) to catch up to implement the networks.
Thanks for the link!
Shows are ahead of the power curve they are.
[and that’s what they’re admitting to.]
It seems to be gone now, but it’s still here:
https://archive.is/UHfeW
Thanks for the link!
Loved the analyses!
SCYTHIAN WIRTSCHAFTSWUNDER
Scythian economy was based on Assyrian skulls, being crafted into goblets.
Therefore, the Holy Grail, as cranial cup, was treasury in Scythian economy.
Scythian headhunting was industrial enterprise, and Assyria collapsed headless.
Scythian motto was: keep those heads rolling!
https://dl.dropboxusercontent.com/s/7zqjhdvk7d21yl0/scythian-for-dummies.jpg
In what KIND OF CURRENCY does CAF expect to get paid with over at SOLARI when the FEDS turn off her payment processing for exposing the “missing trillions”?
PAYMENT NETWORKS that bypass FEDRES clearinghouses and Central Bank restrictions have REAL VALUE.
Talking about energy efficiency in the face of TOTAL SPECTRUM DOMINANCE by the FEDS (power consumption) IS LAUGHABLE. How much power does it take to inject the entire planet with Fake Medicine?
Normally, Robin Hood gets payment, from the Sheriff of Nottingham, for not chopping his head off.
Doable … now we just have to get to the Sheriff. If a CBDC gets implemented, I can see a really strange black market cropping up. I have “carrots” for sale – if you have a bad credit score buy my carrots and you’ll get a free bottle of wine, concert ticket or whatever from your banned list. I, on the other hand, ONLY buy and sell good vegan food, so I keep a healthy credit score. How terribly inconvenient, but doable. Humanity will survive if we keep our wits about us.
I can see all manner of black/gray markets cropping up, with various things being used as currency, including the CBDC itself, when possible…
Yah, my money is on decentralized, distributed tech.
Yah, my money is on decentralized, distributed tech.
Get your money out of the dollar before it dies.
CBDC’;s are not Cryptocurrencies.
They are mere digital extensions of the centralized currencies with more warts and junk attached.