Ukraine isn’t a cold war. CBDCs aren’t gold. Let’s take a look at reality. Right now, and we mean right now, central banks are looking for a way to wash 40+ years of bad money out of the system, and push a new kind of money on the masses.
The person on the street will be blindsided, and also take these new digital dollars, for the worst.
There are of course examples we can look at in this situation. Central bankers aren’t creative, and any power-hungry person thinks along similar lines. The US war in Vietnam is perhaps the best recent example of what CBDCs will usher in – but the horror will be global.
Easy Money Kills
The US spent a lot of money supporting South Vietnam, and the French banks sucked it all up.
The USSR didn’t have to worry about this, as no one wanted their money. US dollars, on the other hand, were as good as gold. At least until de Gaulle sent a French Navy ship full of US dollars to New York, and asked for the gold.
We suppose blood money spilled in South East Asia isn’t worth the yellow mettle in New York. CBDCs come at an interesting time. Much like the US intervention in Vietnam, Ukraine is a hot war. There is no debate when ordinance flies. But the bill is another story.
Of course, the conflict in Ukraine isn’t the first one. Iraq, Afghanistan, the ongoing intervention in Syria, well, it all adds up.
Crisp US dollars pay for all this mess, and they all chase the same basket of goods and services. An easy way to limit how money is used is direct central bank control – aka, CBDCs.
The Cash Bomb
The origin of money is scarcity. We like strong currency because labor creates goods and services, and there are only so many hours in the day, and natural resources to use.
Innovation is great, but much like the US spending mad cash into South Vietnam when money comes before work, instability is the result.
When money is used to create instability, war by any other name, the problem is twofold. With cash out of the way, the new form of currency, supposedly giving more power to the people using them, will end up empowering the central bank.
As of February 2023, CBDC has been explored in 114 countries with complete launches in 11 countries.
Since November 2022, the New York Federal Reserve has put plans on the experiment – a 12-week pilot CBDC in cooperation with giant banks to test the system and payment processes on the new digital dollar.
Who controls privacy, controls the world. Financial surveillance will eventually be used to its fullest extent.
China’s shift to CBDC has progressed steadily. The country aims to expand the tests all over the regions, expecting $300 billion of CBDC transactions in 2023.
However, China has already banned travel, employment, and educational opportunities for political dissidents. And whether CBDC further supported those enforcements or not, remains a question.
Last year, Canada sanctioned bank and crypto accounts of nonviolent trucker protesters who joined the “Freedom Convoy.” Banks were allowed to temporarily freeze personal and business accounts suspected of being used to support protests without seeking a court order.
CBDC Won’t Help
To promote the use of a CBDC, Nigerian authorities announced it would limit ATM cash withdrawals to $45. But despite the governmental efforts, citizens have shown more interest in Bitcoin, according to Google statistics.
Gasoline price in Nigeria has increased by 400% over the last 3 months, causing severe shortages. Recent monetary reforms have not helped much when it comes to the country’s 18.5% inflation rate.
The country was one of the first to launch a CBDC, which is now often considered a failure with less than 0.5% of the population using the eNaira digital wallet.
A Darker Future
CBDCs enable spending without end, and a whole new level of social control. There is no room for dissent in a world where your money can be turned off, and the current Chinese social control system is proof of what is being rolled out globally.
In a world where CBDCs reign, there is no room to disagree with the money masters. No personal rights, no way to escape terrible state policy.
Money spent into endless war is bad enough, but picking a fight with a nation that is cranking out hypersonic missiles for use in a regional theater is madness. No one wins a war, but anyone who is unlucky enough to be involved with this mess will surely lose.
The post Central Banks Want New Money: CBDCs Won’t Help appeared first on Blockonomi.
