CBDC stands for central banker digital currency.
…but it might be better described as Central Banker Digital Control.
It is a cryptocurrency, but instead of the trustless decentralization that Bitcoin relies on, it’s just more of the same of what we know and hate about fiat currency.
Having knowledge of CBDC’s and what’s happening is extremely important to the crypto world. So let’s dive in…
This is a useful webpage to see updates on CBDC’s.
It includes:
- 5 countries with launched or pilot CBDC programs
- 5 countries with proof of concepts
- 7 countries (including US and UK) in advanced stages of R&D
- 30 countries in exploratory stages of R&D
- 10 countries exploring the idea
- 2 countries which launched and discontinued them
This article mentions that the pandemic accelerated the timeline by at least five years. “There is also no doubt in our mind that a major central bank will soon launch a digital currency and we expect this to happen within the next three years,” said Guardtime, a European blockchain company.
There’s a good chance of it happening faster than that.
(What does a virus have to do with digital currency? Must just be a conspiracy theory that you shouldn’t pay attention to. OR if you do want to listen to the conspiracy factualists you can look at the evidence that the virus was used a smokescreen for the economic shenanigans all along.)
They mention a different stat of 60 central banks are exploring CBDCs.
There are 195 countries in the world.
Do you think this has a possibility of NOT happening at this stage?
The central bankers all work together. This is specifically what the Bank of International Settlements (BIS) is all about. You know that very hush-hush supranational beyond-government agency that began after WWI.
The former Bank of England and Canada Governor Mark Carney, at the BIS, said “We should be wary of path dependence and locking in existing advantages of tech companies via the payments system. There are powerful network effects in both social networks and money. If combined, these could be mutually reinforcing. Convenience once established may be hard to unwind in the Uberisation of money.”
In other words, we bankers need to make sure we control stablecoins before it’s too late.
They can’t allow for stablecoins that they don’t have control of, can they?
Here is the BIS General Manager Agustín Carstens speaking in October 2020 about CBDC’s. This is what it is really about.
“Our analysis on CBDC in particular for…general use. We tend to establish the equivalence with cash. And there is a huge difference there. For example, in cash we don’t know for example whose using a $100 bill today. We don’t know whose using a 1000 peso bill today. The key difference with the CBDC is that central bank will have absolute control on the rules and regulations that will determine the use of that expression of central bank liability [aka money]. And also we will have the technology to enforce that. Those two issues are extremely important and that makes a huge difference to what cash is.” (emphasis added)
This was the plan in “going direct.” This is a major step that is required for the “Great Reset.”
Doesn’t this bode ill for cryptocurrencies then?
Sort of. Yes they will make sure they have co-opted the system. In one sense this is the biggest threat to the space, particularly stablecoins (and one possible “solution” is the whole Tether scam unraveling to allow them to do it.) That’s in time though…
There’s still a golden window happening right now that will not be open long. Get in, get your profits, and get out (at least to a degree).
But on the flip side, crypto investments are not going away! The space will not just be CBDC’s. Those who want to control things have need of certain crypto projects to move their agendas along as well.
And this is what my Crypto Crash Course can help you with. Stablecoins (not CBDC’s) are an important part of this picture right now.
You must understand the fight going on for economics, how co-opting and steering the narrative works.
You can get in now, of your own free will and gain from doing so.
Or you can be forced to later when CBDC’s are crammed down your throat, and when you must have a good citizen social score, get your annual (semiannual/quarterly?) booster shots, or else your money is turned off.
That is the dream (aka nightmare) of the total control grid totalitarian plan.
After all, it’s an open conspiracy. All you have to do is listen to what people like Carstens are saying.
The good news is there is a light side to crypto that is specifically trying to ensure that doesn’t happen. The libertarian ethic is hard at work in the crypto space, laughing at the bankers and their silly dreams.
It’s not just an information war but a full on economic one too.
I just finished up the Advanced Track on the Crypto Crash Course. That’s now uploaded and available for paid members.
And that means that the pre-production discount is going away soon. I’ll leave it up until the end of the week but then the course goes up to its normal price.
(The Beginner Track will still be freely available.)