Sunday, 10 October 2021

“Programmable digital currency”: The next step in the new normal?

 

For those who still believe that the Pass is a "sanitary" measure, here is something to land on the cows of hard reality: the Pass is the essential step in the establishment of a system of total control of our lives. All you have to do is consult the EU sites to find the digital wallet project in which your health data, your identity and your bank accounts will be grouped. This is not projected into the distant future: this is exactly what the EC is busy with while everyone's head is in the Covidian sack.

And if you have followed the technique of small steps ("just to flatten the curve", "just to stem the delta variant", "just to ..."), the same will be used to impose this total control on us.

Unless until then.....

In the meantime, draw cash and pay as often as possible in cash. The more of them in circulation, the more it will delay their shabby plan.

SE

The final phase of the war on cash has arrived: money is replaced by coupons under full state control.

Inspired by the bitcoin model, central banks are considering producing their own "digital currencies." By removing all that remains of privacy, giving yourself full control over every transaction, even limiting what ordinary people are allowed to spend their money on.

As soon as bitcoin and other cryptocurrencies appeared, sold as an independent and alternative medium of exchange outside the financial status quo, it was only a matter of time before this new alternative was absorbed, modified and redeployed in the service of the State.

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 cryptocurrencies), the CBDC would be entirely digital, contributing to the current war on cash. However, unlike cryptocurrencies, it would not have any encryption that preserves anonymity. In fact, it would be quite the opposite, which could put an end to the very idea of ​​financial confidentiality.

You may not have heard much about the CBDC plans, lost as they are in the tangle of the ongoing "pandemic", but the campaign does exist, and has been going behind the scenes for many months. Even today, Reuters and the Financial Times published articles on the subject. It's a long, slow scam, but a scam nonetheless.

The countries where the idea has grown the most are China and the United Kingdom. The Chinese digital yuan has been in development since 2014 and is subject to continuous and widespread testing. The UK is a long way from this point, but Chancellor Rishi Sunak is working to promote a digital book that the press calls "Britcoin."

Other countries, including New Zealand, Australia, South Africa and Malaysia, are not far behind.

The United States is also exploring this idea. Jerome Powell, Director of the Federal Reserve, has announced the upcoming release of a comprehensive report on the "digital dollar."

The issue of a digital euro for individuals is also under consideration.

The proposals for the operation of these CBDCs should be enough to set off red flags even in the most confident minds.

Most people wouldn't like the idea of ​​the government monitoring "all spending in real time," but that's not the worst part.

By far the most dangerous idea is that any future digital currency should be "programmable". This means that the people who issue the money would have the power to control how it is spent.

This is not an interpretation or a "conspiracy theory", Agustin Carstens, director of the Bank for International Settlements, spoken earlier this year

Let's go back to this quote, with emphasis:

"The key difference [with a CBDC] is that the central bank would have absolute control over the rules and regulations that will determine the use of this expression of central bank responsibility, and would have the technology to enforce them.”

... which tells you not only that they want and seek this power, but also how they vindicate it for themselves. They turn other people's money into an "expression of their responsibility," and therefore see it as normal for them to control it.

An article in The Telegraph last June was equally candid [emphasis added]:

"Digital money could be programmed to be spent only on basic necessities or goods that an employer or government considers reasonable."

The article then quotes Tom Mutton, a director of the BoE:

"You could introduce programmability […] It could have socially beneficial effects, preventing activity that is seen as socially harmful in some way."

Do governments and employers ensure that the money they issue can only be used for "reasonable" things, and not for "socially harmful" activities? It doesn't take a lot of imagination to see how this system could evolve and turn society into a real dystopian nightmare.

In China, the process has already started, with a characteristic lack of subtlety. As they move towards getting their digital currency into circulation, they are banning all cryptocurrencies to eliminate competition and it is already known that the digital Yuan will be programmable.

The West's approach is likely to be less direct, but no less restrictive.

Britcoin will likely only be introduced under "special circumstances". Starting, as The Telegraph says, with state benefits. They will be marked to be spent only on "basic necessities". (Of course, if the universal basic income is put in place, then it is possible that the majority of people will end up with "state benefits").

It's also not hard to see programmable money fueling the "NHS protection" narrative, where people are not allowed to spend state money on sugar, cigarettes or alcohol. Or, people on organ waiting lists, or diagnosed with certain illnesses, have their salaries and expenses controlled.

Overall, however, the nature of British tyranny is to be unofficial. Thus, the British government will make a big deal out of giving up its own power to program money, thereby positively distinguishing itself from China ... but it will take no action to prevent large companies from "programming" the wages they issue. .

So while the state controls the digital yuan in China, the digital book will be subject to corporate control and used to implement the unspoken state-business partnership that defines true fascism.

It will probably start with small, predictable measures designed to 'limit competition'. McDonald's, for example, will make it impossible to spend your salary at Burger King, and vice versa. Coke and Pepsi. Starbucks and Costa. You get the idea.

We have witnessed the rise of “cancel culture”, a cultural age of identity politics and “virtue signaling”. Well imagine how programmable currency fits into all of this. Companies could pledge to "fight hate," and prevent their employees from donating money to political parties, religious groups, charities or blacklisted individuals.

In the age of Covid, we've seen how writers / actors / singers falling out of the line are the subject of a devastating witch hunt, but imagine a world where businesses could 'give up those who spread disinformation' , making it impossible to spend the salaries they issue on art / films / music / books of outspoken government critics.

Maybe companies will make unvaccinated employees face more wage restrictions than vaccinated employees. Perhaps an unvaccinated person's salary cannot be spent in cinemas or nightclubs, to "stop the spread of the virus."

John Cunliffe, deputy director of the Bank of England, told the Telegraph:

"You could imagine smart contracts where money is programmed to only be released if something happens."

Perhaps employers will remove the choice altogether and make a negative test and / or a vaccine booster a prerequisite to unlocking your salary. This could apply to all kinds of behavior in the future.

The World Economic Forum has a clear vision for the future where people "own nothing and are happy". If you combine this with a protracted war on homeownership, you can imagine employers and governments issuing money that can be spent on rent, but not a mortgage.

Now imagine the emerging “Green New Deal”. Strict limits on how much money you can spend on gas, plastic, or meat.

Only X dollars per year for flights. Only Y pounds on beef. All this for the good of the planet.

Money, which was an expression of independence, will become a voucher system entirely subject to the whims of the multinationals.

We are in 2030.

To reduce your CO2 footprint, your food purchase with digital money was refused because you exceeded your car's mileage limit.

All of this is tracked through your digital identity.

15 social credit points have been deducted from your climate change passport.

 

It would have all sounded like unbridled paranoia just two years ago, but would you be honestly surprised to see this suggestion on The Guardian these days?

A programmable digital currency would have, encoded in it, the ability to control our entire society. And it looks like this is where the New Normal is heading.

SAISI

 

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