Big Brother

End Times? Say NO To Central Bank Programmable Digital Currencies (CBDC)

Well, it’s almost 2023 and technology has blown past the ability of the average person to keep up with the changes coming in our lives, and most of them are probably not good.

Behind big tech is a conglomerate of globalists who are working to end national autonomy, and for those like liberty-loving Americans, to force them to comply.

This is why in the past month they added another layer of targeting guns and accessories. A new credit card categorization code that could improve the tracking of gun sales was approved by an international panel that sets standards for the payments industry, according to New York City Comptroller Brad Lander and Amalgamated Bank.

The  International Organization for Standardization (ISO), based in Geneva, Switzerland, approved the bank’s application for a merchant category code for gun and ammunition stores to use when processing transactions, according to news releases from both Amalgamated and Lander.

A merchant category code is a four-digit number used by credit card companies to classify businesses. It typically indicates the types of services or goods being sold to consumers.

Now the globalists are promoting the development and conversion from physical currency to CBDCs, Central Bank Programmable Digital Currencies.

In this new world of monetary policy, the government says that your money isn’t really your money. Your property rights are subservient to the “public good” and the supposed necessity of “managing the national economy.”

This government-controlled, programmable currency technology poses a combination of risks to consumers – financial, economic, and human rights that are potentially severe if a CBDC is designed badly or with bad intent.

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If built to be used for nefarious reasons, the danger is there is no limit to the level of control that the government could exert over people if money is purely electronic and provided directly by the government. A CBDC would give federal officials full control over the money going into–and coming out of–every person’s account.

Economic Risks

The key economic risk is inflation. A CBDC can be created at the press of a button and distributed widely, inflating the money supply without any corresponding increase in GDP.

This risk can be mitigated by issuing CBDC to individuals and businesses only in return for bank deposits, or collateral paid for with bank deposits, and to the government only in return for bonds that have a reasonable chance of being repaid through taxes.

Financial Risks

Financial risks include exchange rate risk, higher lending costs, and operational risks.

Then there is the risk of a centralized CBDC system suffering outages and cyber-attacks. Even a short outage could badly affect the whole nation by disrupting everyone’s financial transactions.

Human Rights Risks

If designed inappropriately, CBDCs have the potential to be used as tools of surveillance and control by governments.

Every transaction is recordable and any authority with access to the CBDC ledger could see all transactions. They could also control individuals through the ledger – such as putting expiry dates on their CBDC, limiting how much they can hold, varying interest rates and prices depending on who they are, preventing purchases, and automatically deducting fines.

The combination of digital identity and CBDC is also a big risk. Access and addressability are needed for digital payments but these are different from digital identity.

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In a world of programmable money, digital identity can go beyond just enabling access to your funds. Use of those funds can be made conditional on attributes of your digital identity. If those funds are in CBDC, then the central bank and by implication, the government can control directly how you spend and receive money.

Multiple nations, including Communist China, are testing a big brother global version too.

The multiple Central Bank Digital Currency (mCBDC) Bridge test developed by BIS included China, Hong Kong, Thailand, and the United Arab Emirates and was designed to deliver real-time, cheaper, and safer cross-border payments and settlements, the BIS said.

This conversion to government-controlled digital currency is very dangerous to our civil liberties, and may not be able to stop it.

For Christians, this technology should sound familiar.

It also forced all people, great and small, rich and poor, free and slave, to receive a mark on their right hands or on their foreheads,  so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name.” (Revelation 13:16-17)

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Conservative independent talk show host and owner of https://MAGABOOK.com. USMC Veteran fighting daily to preserve Faith - Family - Country values in the United States of America. Check out my podcast - https://www.spreaker.com/show/finish-the-race

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