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Old October 15th, 2020, 10:16 PM
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Default Central Banks Across The World Preparing To Unleash Digital Currency

Central Banks Across The World Preparing To Unleash Digital Currency

Excerpt: First it was the Fed, then the ECB, and now the BOJ: the world's central banks are quietly preparing to unleash digital currencies...

The move, as Reuters reports, came in tandem with an announcement by a group of seven major central banks, including the BOJ, on what they see as core features of a central bank digital currency (CBDC) such as resilience and a clear legal framework.

Of course, the real reason behind central bank urgency to implement digital currencies is simple and has nothing to do with serving the population, increasing facility of transfers, or enhancing stability and efficiency of payment and settlement systems. It has everything to do with having discrete control over inflation, and enabling worldwide "helicopter money." This is how DoubleLine fixed income portolio manager Bill Campbell described it in his latest must-read note "The Pandora's Box of Central Bank Digital Currencies."

...without virtually any public discourse or debate, central banks are now so far down along in the process that they are just steps away from rolling out a private-sector venture with one of the largest digital payments processors in the world. Below is a press release that virtually nobody noticed in early September from none other than electronic payment giant MasterCard, in which it revealed that it had launched "Central Bank Digital Currencies (CBDCs) Testing Platform, Enabling Central Banks to Assess and Explore National Digital Currencies"

...blockchain allows every single discrete currency unit, whether it is the digital dollar, digital euro, digital yen or digital yuan, to be tracked from its digital inception, through every single transaction, and to which wallet it can be found in at any given moment. In short, blockchain-based digital currencies will allow central banks to have a real-time map of absolutely every monetary unit in circulation, and every single economic transaction, something they can't do with trillions in anonymous paper money still sloshing around (the inverse process was launched by the ECB when it did away with the notorious €500 banknote which allowed European to easily circumvent Europe's negative interest rates). And, of course, when push comes to shove, central banks will also be able to "warn" the public the digital money in their digital wallets may soon expire, sparking an inflationary flood of spending with the flick of a switch.

- zerohedge.com



Imagine a world where you don't earn your money with a job it's simply metered out to you, just enough to purchase the basics for survival. We can't have anyone living in excess, the lap of luxury or even be quite comfortable. Instead everyone must be "equal"... equality for all and that includes how much money you get, the shelter you live in, the clothes provided and the basic food you get.

See, it's all provided in the dream world concocted by Neo-communists. There will be no more people trying to better their own lives or self-improvement as that is creating an inequality for someone else. No matter how educated, intelligent or even good you are with hand tools... you will all be equal, dumb, boring and lazy.
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