Here's what I think is happening based on the various things I've read/heard.
The whole point of the Great Reset is financial. The need is for Europe to default on its unsustainable debt and issue a new currency. Europe is insolvent and has no path to solvency (I continue to believe that the US has a path, though not easy).
Here's what I think is happening based on the various things I've read/heard.
The whole point of the Great Reset is financial. The need is for Europe to default on its unsustainable debt and issue a new currency. Europe is insolvent and has no path to solvency (I continue to believe that the US has a path, though not easy).
The people behind the facade we know as the WEF - which is just their marketing arm, designed to get the kids excited about all this gov't confiscation about to occur - want to issue an EU-based CBDC and have it replace the USD as the world's currency. To do this, they obviously need to weaken the USD and the US bond market. Personally, I think when you view things through this lens, the chaos makes a lot more sense.
Everyone is bashing on the Fed right now, which doesn't make a lot of sense to me, from a timing perspective. They are finally, for once, doing the right thing in keeping rates higher to stave off inflation rather than caving to the demands of the 0.01% financial elite who want low rates for "investment" purposes. The time to bash the Fed was ZIRP era, or just about any other time in its existence, not now. IMO, anyway.
Though, obviously, I also understand the argument the Fed shouldn't exist at all and we should be on a gold standard system. I can't argue with that, but am looking at this through the prism of what is happening now, not what I wish would be happening.
So far as I see it, this is turning out to be a US financial interests vs. European financial interests battle for control of the currency, and thereby, the Western empire. The Fed currently seems to be on team US. Yellen is on team EU. I think we can also largely view Trump as the avatar of team US and Biden as Obama's surrogate for team EU. I am rooting for team US in all this.
As an aside: I also hate to say it, but a CBDC of some sort IS the future. There is no way around that. It's just a more efficient technology for all involved, and at some point will be implemented by someone. To fight that would be a waste of time. IMO, it's more important to focus on who issues the CBDC and what laws govern it.
A CBDC in and of itself should be no big deal, until they attempt to eliminate cash. There is no reason the two can't exist together, but it's easy to believe the CBDC controllers will eventually prove their true interest is total control. That's when it hits the fan!
Exactly. I can't see how a CBDC is all that different from a debit card, which I'm guessing most of us have and use. Our employers are not carrying bags of straight-cash-homie to our banks every 2 weeks. The questions to me are how is the currency controlled/managed/regulated and what are the laws around privacy and usage to protect the consumer, etc.
But I do tend to agree that some entity will try to use it for total control. That seems to be the Davos/Brussels crowd's primary goal. I'm just thankful we seem to have some folks on the side of team US that don't want to relinquish their control over global financial markets. I honestly think the Davos set thought they could just take it without a battle.
(IMO, we also all need to realize there never has been - and there never will be - a non-corrupt government. And there will always be government. There will also always be currency. Currency arose as an effective solution to a genuine problem. To assume anything else is utopianism along the lines of the Marxists or the anarchists. IMO, it's about how we, the governed, keep those two things [corruption and gov't] under control.)
Totally agree. The only government that isn't corrupt is the government with no people.
I do think another potential issue of concern is how they attempt to require people to access the CBDC. If they want people to have things implanted in their body, that will be resisted, as will retina scans and the like.
Keep it simple and continue using cards and there shouldn't be that many problems. But corruption rejects simple ...
Agree again. No implants of any kind. You have to half-wonder if that was at least one goal of the covid shots - to get people to relinquish the concept of bodily autonomy for things like CBDC implants or other even more nefarious things. Though, yeah, they're going to try and we need to be ready to die on that hill b/c I don't think there's any coming back from having one's own body become the mechanism for traceable financial transactions.
CBDC is *nothing* like a debit card! It's programmable and would be the end of financial freedom. Period. CBDC and digital id must be rejected by the people.
Explanation and examples in this great animated video:
No, they are not that different. Who holds the liability is the primary difference. A bank account can be "programmed" as well. Despite what that video says, the gov't can currently track digital purchases. They are not anonymous today. And, currently, over 90% of transactions are digital. Only a small amount of our money supply is even issued as physical money.
As with all technology, the key is being vigilant about the laws governing the use of the technology. That, and maintaining the existence of physical money so that not all transactions are electronic and truly private transactions can be maintained.
Interesting, thanks for sharing. Generally I really like Brownstone's takes on things. They were awesome WRT covid.
Keys to me seem to be: what are the laws/regs around it, are there other available alternatives to keep it from being the only currency, and of course, no implants. Implant means it's not "your card" anymore in the sense of a debit card, but you, physically, who made the purchase.
Otherwise, everything everyone is saying about CBDCs could also be said of their bank accounts. If the gov't wants to track it today, they can. If they want to "program" it, then can (garnishing wages, e.g.). The vast majority of our currency today is already electronic. (I'd also point out the things being said today are the exact same things people said about debit cards when those were rolled out: the end of paper money, no more financial freedom, government going to use it to track purchases and take guns, mark of the beast, etc.)
For fairness of argument, I'd also point out there are lots of valid, good reasons for CBDCs and even to track purchases. Catching drug or human traffickers, for instance. But, also financial/economic ones. Lots of bad as well.
I tend to look at tech as tech. It's a tool. Someone is trying to solve for a real problem (just as currency itself was someone's solution to the problems with bartering); and someone else is going to try to use that solution for harm. Like a hammer, it's what we do with it that matters. It's legal to use a hammer to pound nails and such; it's illegal to use it to pound someone's head.
If it were possible to remove, on the banking side, the human element CBDC's would be more efficient; humans introduce the potential of abuse. As we noted, cash should work with the system but shallow people have a need to try and control others, that's a concern. Cash, or lack there-of, opens that door.
Well, we're all focusing on the retail side, which is a tiny portion of the reason financial institutions want CBDCs. The retail (consumer, aka us) side is an almost insignificant amount of $$$ to be a consideration. Financial institutions want CBDCs b/c of the greater efficiency and how much money that saves them/makes them on large dollar institutional level transactions, international transactions, and so on. That's why I say they are happening and there is good reason for it (in addition to legitimate use in policing gangs, drug/human traffickers, etc.)
But, like I said, the bad actors in gov't, NGOs, "philanthropists," and so on are going to try to take advantage of it and use it for the types of things people are rightly worried about. It would be nice to remove the human element, but probably never going to happen.
Mix AI with everyone using a CBDC for everything and you're one step away from hell on earth, IMO. To avoid that, privacy laws - and maintaining alternative forms of currency - should be the primary concerns.
IMO, our biggest threat is our populace. It concerns me that so many millennial and gen Z folks don't seem to have even a concept of privacy anymore, much less an expectation or a the desire to ensure gov't respects it. So, that would be the main hurdle in ensuring the gov't maintains Constitutional privacy laws. As always, the biggest risk to us is us.
Good point. If CBDC were simply just electronic transactions, that might not be so concerning. But the fear for most of us is the notion that accessing our money will be conditioned on certain behaviors — that we be good little citizens, who get our monthly injections, who don’t consume alternative media, express non-approved thoughts, etc., etc. And if we are not good little citizens our privileges will be revoked… can’t travel, can’t turn on our Internet, can’t purchase things, etc., etc.
And then just the more expansive and invasive surveillance aspects of CBDCs.
And accessing cash is getting more difficult. My bank only allows you to withdraw a certain amount per day. If you want more, you have to tell them in advance because they don’t have that much on hand, except if you apply for a loan, of course.
Very interesting. I wonder if it's more like the Collective West against BRICS, et al. The EU seems to do whatever the US wants them to do - including decimating their ability to produce anything economically with natural gas (as an examle).
NO> we will go back to barter and trade in small communities first . DONT COLLABORATE w the enemy. no excuse for the FED except the profit of the few big banks on the backs of the many. time for that shit to GO!
Here's what I think is happening based on the various things I've read/heard.
The whole point of the Great Reset is financial. The need is for Europe to default on its unsustainable debt and issue a new currency. Europe is insolvent and has no path to solvency (I continue to believe that the US has a path, though not easy).
The people behind the facade we know as the WEF - which is just their marketing arm, designed to get the kids excited about all this gov't confiscation about to occur - want to issue an EU-based CBDC and have it replace the USD as the world's currency. To do this, they obviously need to weaken the USD and the US bond market. Personally, I think when you view things through this lens, the chaos makes a lot more sense.
Everyone is bashing on the Fed right now, which doesn't make a lot of sense to me, from a timing perspective. They are finally, for once, doing the right thing in keeping rates higher to stave off inflation rather than caving to the demands of the 0.01% financial elite who want low rates for "investment" purposes. The time to bash the Fed was ZIRP era, or just about any other time in its existence, not now. IMO, anyway.
Though, obviously, I also understand the argument the Fed shouldn't exist at all and we should be on a gold standard system. I can't argue with that, but am looking at this through the prism of what is happening now, not what I wish would be happening.
So far as I see it, this is turning out to be a US financial interests vs. European financial interests battle for control of the currency, and thereby, the Western empire. The Fed currently seems to be on team US. Yellen is on team EU. I think we can also largely view Trump as the avatar of team US and Biden as Obama's surrogate for team EU. I am rooting for team US in all this.
As an aside: I also hate to say it, but a CBDC of some sort IS the future. There is no way around that. It's just a more efficient technology for all involved, and at some point will be implemented by someone. To fight that would be a waste of time. IMO, it's more important to focus on who issues the CBDC and what laws govern it.
A CBDC in and of itself should be no big deal, until they attempt to eliminate cash. There is no reason the two can't exist together, but it's easy to believe the CBDC controllers will eventually prove their true interest is total control. That's when it hits the fan!
Exactly. I can't see how a CBDC is all that different from a debit card, which I'm guessing most of us have and use. Our employers are not carrying bags of straight-cash-homie to our banks every 2 weeks. The questions to me are how is the currency controlled/managed/regulated and what are the laws around privacy and usage to protect the consumer, etc.
But I do tend to agree that some entity will try to use it for total control. That seems to be the Davos/Brussels crowd's primary goal. I'm just thankful we seem to have some folks on the side of team US that don't want to relinquish their control over global financial markets. I honestly think the Davos set thought they could just take it without a battle.
(IMO, we also all need to realize there never has been - and there never will be - a non-corrupt government. And there will always be government. There will also always be currency. Currency arose as an effective solution to a genuine problem. To assume anything else is utopianism along the lines of the Marxists or the anarchists. IMO, it's about how we, the governed, keep those two things [corruption and gov't] under control.)
Totally agree. The only government that isn't corrupt is the government with no people.
I do think another potential issue of concern is how they attempt to require people to access the CBDC. If they want people to have things implanted in their body, that will be resisted, as will retina scans and the like.
Keep it simple and continue using cards and there shouldn't be that many problems. But corruption rejects simple ...
Agree again. No implants of any kind. You have to half-wonder if that was at least one goal of the covid shots - to get people to relinquish the concept of bodily autonomy for things like CBDC implants or other even more nefarious things. Though, yeah, they're going to try and we need to be ready to die on that hill b/c I don't think there's any coming back from having one's own body become the mechanism for traceable financial transactions.
CBDC is *nothing* like a debit card! It's programmable and would be the end of financial freedom. Period. CBDC and digital id must be rejected by the people.
Explanation and examples in this great animated video:
https://rumble.com/v1o5meq-johnnys-cash-and-the-smart-money-nightmare.html
No, they are not that different. Who holds the liability is the primary difference. A bank account can be "programmed" as well. Despite what that video says, the gov't can currently track digital purchases. They are not anonymous today. And, currently, over 90% of transactions are digital. Only a small amount of our money supply is even issued as physical money.
As with all technology, the key is being vigilant about the laws governing the use of the technology. That, and maintaining the existence of physical money so that not all transactions are electronic and truly private transactions can be maintained.
I came across this a few minutes ago
https://brownstone.org/articles/moneys-grim-future/
Interesting, thanks for sharing. Generally I really like Brownstone's takes on things. They were awesome WRT covid.
Keys to me seem to be: what are the laws/regs around it, are there other available alternatives to keep it from being the only currency, and of course, no implants. Implant means it's not "your card" anymore in the sense of a debit card, but you, physically, who made the purchase.
Otherwise, everything everyone is saying about CBDCs could also be said of their bank accounts. If the gov't wants to track it today, they can. If they want to "program" it, then can (garnishing wages, e.g.). The vast majority of our currency today is already electronic. (I'd also point out the things being said today are the exact same things people said about debit cards when those were rolled out: the end of paper money, no more financial freedom, government going to use it to track purchases and take guns, mark of the beast, etc.)
For fairness of argument, I'd also point out there are lots of valid, good reasons for CBDCs and even to track purchases. Catching drug or human traffickers, for instance. But, also financial/economic ones. Lots of bad as well.
I tend to look at tech as tech. It's a tool. Someone is trying to solve for a real problem (just as currency itself was someone's solution to the problems with bartering); and someone else is going to try to use that solution for harm. Like a hammer, it's what we do with it that matters. It's legal to use a hammer to pound nails and such; it's illegal to use it to pound someone's head.
If it were possible to remove, on the banking side, the human element CBDC's would be more efficient; humans introduce the potential of abuse. As we noted, cash should work with the system but shallow people have a need to try and control others, that's a concern. Cash, or lack there-of, opens that door.
Well, we're all focusing on the retail side, which is a tiny portion of the reason financial institutions want CBDCs. The retail (consumer, aka us) side is an almost insignificant amount of $$$ to be a consideration. Financial institutions want CBDCs b/c of the greater efficiency and how much money that saves them/makes them on large dollar institutional level transactions, international transactions, and so on. That's why I say they are happening and there is good reason for it (in addition to legitimate use in policing gangs, drug/human traffickers, etc.)
But, like I said, the bad actors in gov't, NGOs, "philanthropists," and so on are going to try to take advantage of it and use it for the types of things people are rightly worried about. It would be nice to remove the human element, but probably never going to happen.
Mix AI with everyone using a CBDC for everything and you're one step away from hell on earth, IMO. To avoid that, privacy laws - and maintaining alternative forms of currency - should be the primary concerns.
IMO, our biggest threat is our populace. It concerns me that so many millennial and gen Z folks don't seem to have even a concept of privacy anymore, much less an expectation or a the desire to ensure gov't respects it. So, that would be the main hurdle in ensuring the gov't maintains Constitutional privacy laws. As always, the biggest risk to us is us.
Anyway, thanks for the conversation!
My issue is not DC it is the CB in DC. The one group controlling all.
Use it or lose it, folks!
Good point. If CBDC were simply just electronic transactions, that might not be so concerning. But the fear for most of us is the notion that accessing our money will be conditioned on certain behaviors — that we be good little citizens, who get our monthly injections, who don’t consume alternative media, express non-approved thoughts, etc., etc. And if we are not good little citizens our privileges will be revoked… can’t travel, can’t turn on our Internet, can’t purchase things, etc., etc.
And then just the more expansive and invasive surveillance aspects of CBDCs.
And limiting the amount of meat or dairy we consume, or other such foods.
Bingo, that's why cash is the key. As RU said, forms of cash will always exist, it's just a matter of in what capacity.
And accessing cash is getting more difficult. My bank only allows you to withdraw a certain amount per day. If you want more, you have to tell them in advance because they don’t have that much on hand, except if you apply for a loan, of course.
Personally, I prefer dealing in cash.
Exactly! NO to CBDC and digital id.
https://rumble.com/v1o5meq-johnnys-cash-and-the-smart-money-nightmare.html
They have total control now! Many truly do not understand!
I think they have a grip but it hasn't been tightened, yet.
Thanks for the overview. Side note: Australia is much closer to CBDC's so they protest with cash. https://www.news.com.au/finance/money/costs/massive-queues-aussies-flood-banks-in-cash-protest/news-story/a3e8940489c9c22fcb99d447460ec7d2
Well-reasoned comment, thanks for your take on this!
Very interesting. I wonder if it's more like the Collective West against BRICS, et al. The EU seems to do whatever the US wants them to do - including decimating their ability to produce anything economically with natural gas (as an examle).
If you think anyone in government has your best interests in mind or heart, please get educated!
Who said that? What exactly are you talking about? Your comment does not make sense in light of anything I've written. Please explain.
Very nice except I feel we should clobber the FED with a plan in place to return to the gold standard. Painful but solid ground.
Best
Later Jay
Yeah, but what about the BRICS nations? China's wealth and influence are not exactly tiny.
Look at the numbers compared to the US. We're still king of the hill but with no one (benevolent) watching the hen house, we're in trouble.
Later Jay
They're clearly de-dollarizing b/c the West has weaponized the dollar.
NO> we will go back to barter and trade in small communities first . DONT COLLABORATE w the enemy. no excuse for the FED except the profit of the few big banks on the backs of the many. time for that shit to GO!
LOL. Right. I'm a realist, not a utopian. And, frankly, what you're proposing sounds a lot more like hell than utopia.