Central Bank Digital Currency Is Coming Soon!

There has been a growing number of digital currencies in our modern times with the goal of eluding the bureaucracy of taxes and oversight of currency.  Some of these digital currencies have gained big notoriety, such as Bitcoin, which has likely raised the eyebrows of those in governmental power, because it probably takes away a great amount of control of the economy.  It is no secret that the United States dollar has been the main trading currency throughout the world, but that regime seems to be moving in a threatened environment.  2022 marks a time when a Presidential Executive Order was created to begin the creation and conversion of the US dollar into a digital currency, which would in essence create a cashless society in this country.  Of course, a cashless society has long been predicted in religious writings, and people have feared this coming time because I am sure we all feel that this will become the ultimate control tool for governments.  Creating a cashless society can clearly lead to total control of our monetary assets, and provide complete oversight and knowledge of what we are spending our money on.  But this could also provide the governments of the world with the decision whether we get to buy things – when we get to buy things – and what we get to buy, so honestly, it does feel like a very scary time to be alive.  I am not speaking of impending doom as if I know for sure that this is what will happen with digital currency, but it clearly has the potential to provide this type of total control. 

I have copied some information from a number of websites, which I have listed at the end of the article to provide credit to the original sources. 

“The term “central bank digital currency” or “CBDC” refers to a form of digital money or monetary value, denominated in the national unit of account, that is a direct liability of the central bank.  The big takeaway from this definition of a CBDC is the term “central bank””.  Any time there is a centralization of anything, and in this case currency or money, there is an opportunity for dominance, control, and corruption; the real power of the people comes from decentralization, so when we are placing the pivot point of all our currency on a single point, it can cause this to become a single point of failure as well. 

One might argue that the idea of the United States having a central bank is a new idea, but that is very far from the truth.  “The Federal Reserve was created in 1913 by the Federal Reserve Act to serve as the nation’s central bank. The Board of Governors in Washington, D.C., is an agency of the federal government and reports to and is directly accountable to the Congress. The Federal Reserve derives its authority from the Congress, which created the System in 1913 with the enactment of the Federal Reserve Act. This central banking “system” has three important features: (1) a central governing board—the Federal Reserve Board of Governors; (2) a decentralized operating structure of 12 Federal Reserve Banks; and (3) a blend of public and private characteristics.”

Apparently, we have had a central bank in place for many years, so what is the big deal then with creating a digital currency controlled by the central bank?  Well, they want to attach expiration dates on your digital currency!  “Expiring money, one whose value falls to zero after a specific date, is a potential monetary policy tool . “Programmability,” a technical feature made possible by digitalization, can accelerate decisions to spend it, making it a very effective means for stimulating consumption. Expiring money would increase both the velocity of money and overall economic activity, similar to applying a negative rate to digital cash. In practice, a carrying fee on money would encourage people to spend it and thus prevent it from being hoarded.”

In essence, it appears that they no longer want you to have any means of backup or savings, and only seem concerned with churning money through the economy.  What else could be implemented with a CBDC?  What if you owe the government money for some reason and you are simply not paying those fees?  Now with this centralized and digital banking system in place, they can simply subtract the money from your account – wouldn’t that be convenient?!  What if your authorized carbon footprint levels are too high – do you think you be able to buy that gasoline for your vehicle even if you have the money in your bank?  Probably not! 

Remember that I am only throwing ideas out with this article and not claiming anything as fact; I am just sharing my thoughts based on the public information that is available on the internet.  Remember that nothing is really hidden from the public – sometimes you just have to go and search for the information – it is all there in some shape or form.  Sometimes it is in printed form, like I am using here, and sometimes it is hidden in the messages of Hollywood movies, or simply available with the proper search parameters on the internet.

I encourage you to do your own research!

https://www.federalregister.gov/documents/2022/03/14/2022-05471/ensuring-responsible-development-of-digital-assets

https://blogs.worldbank.org/allaboutfinance/expiring-money-part-i

https://blogs.worldbank.org/allaboutfinance/expiring-money-part-ii

https://www.federalreserve.gov/econres/notes/feds-notes/what-is-programmable-money-20210623.html

https://www.federalreserve.gov/faqs/about_14986.htm