Globalists Are Bringing Digital Currencies, Social Credit Scores Your Way
If there’s one thing mainstream media, globalist entities, and particularly the World Economic Forum’s (WEF) Davos 2023 conference have made clear lately, it’s that the Marxist, globalist elites are planning to introduce Central Bank Digital Currencies (CBDCs) very soon. Which is as much as to say that authoritarian social credit scores are coming to a country—and a bank—near you.
Among those who have prophesied a strong and/or rosy future for CBDCs are WEF and CNN. In fact, WEF already published a report outlining its version of a social credit score or digital ID required to do or buy anything, and both the Canadian and Dutch governments have partnered with WEF to roll out the disturbingly restrictive social credit scores—which, of course, can be linked to digital currency because they’re required for financial transactions.
WEF just posted an article called, “Central Bank Digital Currency? How money could be redesigned.” And WEF’s Davos 2023 conference also had a panel titled, “In the Face of Fragility: Central Bank Digital Currencies.”
One government that was particularly enthusiastic about Davos 2023 was the Chinese Communist Party (CCP), which boasted before the conference that it was an upholder of the “Davos Spirit” and expected to find lots of friends at the conference.
Most recently, on Jan. 16, in an article titled, “Central-Bank Digital Currencies Are Coming—Whether Countries Are Ready or Not,” the Wall Street Journal discussed the possibility of CBDCs sweeping the world economy. We must keep up with China (which has digital currency), and we should have “inclusion” in banking so everyone gets a digital currency account, WSJ offered rationalizations. It is significant that WSJ admitted both the serious privacy risks as well as the main motivation for CBDC: “control.”
“‘Central-bank digital currency’ doesn’t exactly roll off the tongue. But you might want to get used to saying it. These so-called CBDCs, or digital versions of dollars, yuan, euros, yen or any other currency, are coming, say those who study them. And depending on how they are designed and rolled out, their impact on the banking system could be profound.
One hundred and fourteen countries are exploring digital currencies, and their collective economies represent more than 95% of the world’s GDP, according to the Atlantic Council’s Central Bank Digital Currency tracker. Some countries, including China, India, Nigeria and the Bahamas, have already rolled out digital currencies. Others, like Sweden and Japan, are preparing for possible rollouts. The U.S. is studying the issue and has run trials of various technologies to enable a digital currency.”
Joe Biden issued an executive order in September about “digital assets.” And I previously reported on the G20 Bali Declaration (supported by Biden) which, as part of its brilliant plan to wreck the free world, endorsed CBDCs. That’s how the Marxist globalists plan to control your financial transactions entirely.
In fact, according to WSJ, the New York Fed and various US banks are already testing out one kind of digital currency. Notice for what WSJ anticipates one type of CBDC will be used in future (emphasis mine):
“The second type of CBDC is a digital version of fiat money made available to the general public through accounts held by a central bank or a commercial bank. From the perspective of a regular person or business, this kind of CBDC isn’t any different from the electronic money in their bank accounts today—it’s just a digital dollar. What makes these kinds of CBDCs special is that they are created, and held, in accounts that a central bank has direct access to. If another pandemic happened, for example, the Fed could just deposit stimulus ‘checks’ into every U.S. citizen’s digital-currency account…
China’s digital yuan is one such currency, and it can be used by everyday Chinese people through existing, and very popular, digital payment services like Alipay and WeChat Pay.”
China’s digital currency and social credit system are so tyrannical that the country recently experienced mass protests, with the social credit score and its role in Covid lockdowns being one of the reasons for protesting. China was able to punish many of these brave protesters successfully by simply turning their QR codes (linked to their money) red, effectively preventing them from buying anything or going anywhere. It was as easy as that. So I’d hardly call the digital yuan and its linked QR code “popular.” The Chinese are all simply forced to use it.
“[WSJ, emphasis mine] Many who study digital currencies argue that at the most basic level, a digital currency is all about control…What central bankers and other interested parties—like the Biden White House, which in a September report outlined the possibilities of a digital U.S. dollar—fear is the potential of cryptocurrencies to wrest control of the creation and transfer of money from central banks…
On the other hand, the potential downsides of a digital currency, even one initially intended for only the most benign purposes, could be profound…First, there is the obvious issue of privacy. A digital currency could allow governments to track every transaction a person makes, no matter how minute. This level of transparency would be a powerful disincentive to using these currencies for crime or fraud, but it could also open the door to new kinds of social control, especially in countries with already-scant protections for human rights.
For example, says Dr. Prasad, a government could make it impossible to spend the digital currency on things the ruling party deems problematic.”
Even cryptocurrency not created by governments could well be manipulated by them, WSJ acknowledged. There are also potential failures of “algorithmic stablecoins.” But CBDC’s greatest danger could be success, confessed WSJ. It “‘is inevitable there will be unintended consequences as a result of CBDCs.’”
No kidding, Sherlock. CBDCs would be a disaster for everyone but the top ruling elite. Digital currency already created a seemingly inescapable hell in Communist China, where the slightest criticism of the government, no matter how terrible the current government policies are, can result in the inability even to buy food, and possibly might end in being carted off to a “quarantine” (ie internment) camp or jail.
That’s the world Biden, WEF, and all their allies want for you.