TempestOfTempo
Superstar
- Joined
- Jan 29, 2018
- Messages
- 8,776
They picked the wrong bungler in chief for the job lol
Although he is likely just paving the way/buying time for whatever tptb have planned next with Trump or Harris.
CBDCs: Financial Exclusion
- Thread starter Karlysymon
- Start date
Although he is likely just paving the way/buying time for whatever tptb have planned next with Trump or Harris.
TempestOfTempo
Superstar
- Joined
- Jan 29, 2018
- Messages
- 8,776
Wowsers... you really are doing Gods work KS. These are posts containing powerful info.
Terminator Resistance
Veteran
- Joined
- Jul 31, 2021
- Messages
- 582
As always your research is excellent...
Karlysymon
Superstar
- Joined
- Mar 18, 2017
- Messages
- 7,324
I hope you realize(d) that it's a news story from March.
Nevertheless, a digital dollar push made it's debut back in the early days of the Covid game. The Bloomberg article betrays the idea that CBDCs are the perfect vehicle for UBI.
'Digital Dollar' Reintroduced by US Lawmakers in Latest Stimulus Bill
The idea of a digital dollar was again floated by U.S. lawmakers as a means of issuing stimulus payments to residents.
Thanks, guys. Much appreciated!
Karlysymon
Superstar
- Joined
- Mar 18, 2017
- Messages
- 7,324
June 2021
www.telegraph.co.uk
The Bank of England has called on ministers to decide whether a central bank digital currency should be “programmable”, ultimately giving the issuer control over how it is spent by the recipient.
Tom Mutton, a director at the Bank of England, said during a conference on Monday that programming could become a key feature of any future central bank digital currency, in which the money would be programmed to be released only when something happened.
He said: “You could introduce programmability - what happens if one of the participants in a transaction puts a restriction on [future use of the money]?
“There could be some socially beneficial outcomes from that, preventing activity which is seen to be socially harmful in some way. But at the same time it could be a restriction on people’s freedoms.”
He warned that the Government would be required to intervene and make the final decision."
Bank of England tells ministers to intervene on digital currency 'programming'
Digital cash could be programmed to ensure it is only spent on essentials, or goods which an employer or Government deems to be sensible
Tom Mutton, a director at the Bank of England, said during a conference on Monday that programming could become a key feature of any future central bank digital currency, in which the money would be programmed to be released only when something happened.
He said: “You could introduce programmability - what happens if one of the participants in a transaction puts a restriction on [future use of the money]?
“There could be some socially beneficial outcomes from that, preventing activity which is seen to be socially harmful in some way. But at the same time it could be a restriction on people’s freedoms.”
He warned that the Government would be required to intervene and make the final decision."
Karlysymon
Superstar
- Joined
- Mar 18, 2017
- Messages
- 7,324
Karlysymon
Superstar
- Joined
- Mar 18, 2017
- Messages
- 7,324
CBDCs To Be More Eco-Friendly, Recommends IMF
"CBDCs need to be more eco-friendly to achieve a low-carbon footprint payment system, recommends the International Monetary Fund (IMF) to central banks.
Eco-friendly CBDCs
The IMF conducted a study on energy consumption and concluded that central bank digital currencies (CBDCs) need to be more eco-friendly to build a payment system not harmful to the environment. The study, Digital Currencies and Energy Consumption, analyzed crypto’s energy consumption stemming from their design elements. IMF wanted to determine the key features to improve to make CBDCs more environmentally friendly.
Along with the eco-friendly component, the IMF also recommended that central banks include offline capabilities, higher resilience and compliance as CBDC components. The IMF’s recommendation to move away from proof-of-work (PoW)-based distribution ledger applications is because Bitcoin consumes about 144 terawatt-hours (TWh) per year. The study estimated that global payment systems consume 47.3 TWh of energy.
IMF also acknowledged that non-PoW permissioned crypto assets reduce energy consumption because of the energy savings on the user payment system and core processing architectures.
To design eco-friendly CBDCs, central banks will have to use hardware, platforms and design techniques that have a lower carbon footprint than the central banks’ legacy systems. It seems that the extent of crypto’s popularity may also be tied to low carbon footprints. Policymakers may decide on the mainstreaming of CBDCs by determining the degree to which the technology’s design impacts the environment."
https://www.business2community.com/crypto-news/cbdcs-to-be-more-eco-friendly-recommends-imf-02502166
"CBDCs need to be more eco-friendly to achieve a low-carbon footprint payment system, recommends the International Monetary Fund (IMF) to central banks.
Eco-friendly CBDCs
The IMF conducted a study on energy consumption and concluded that central bank digital currencies (CBDCs) need to be more eco-friendly to build a payment system not harmful to the environment. The study, Digital Currencies and Energy Consumption, analyzed crypto’s energy consumption stemming from their design elements. IMF wanted to determine the key features to improve to make CBDCs more environmentally friendly.
Along with the eco-friendly component, the IMF also recommended that central banks include offline capabilities, higher resilience and compliance as CBDC components. The IMF’s recommendation to move away from proof-of-work (PoW)-based distribution ledger applications is because Bitcoin consumes about 144 terawatt-hours (TWh) per year. The study estimated that global payment systems consume 47.3 TWh of energy.
IMF also acknowledged that non-PoW permissioned crypto assets reduce energy consumption because of the energy savings on the user payment system and core processing architectures.
To design eco-friendly CBDCs, central banks will have to use hardware, platforms and design techniques that have a lower carbon footprint than the central banks’ legacy systems. It seems that the extent of crypto’s popularity may also be tied to low carbon footprints. Policymakers may decide on the mainstreaming of CBDCs by determining the degree to which the technology’s design impacts the environment."
Karlysymon
Superstar
- Joined
- Mar 18, 2017
- Messages
- 7,324
Karlysymon
Superstar
- Joined
- Mar 18, 2017
- Messages
- 7,324
Karlysymon
Superstar
- Joined
- Mar 18, 2017
- Messages
- 7,324
When it comes to Central Bank Digital Currencies, we need public-private cooperation
While central bank digital currencies could play a huge role in the future of financial systems, participation of the private sector in developing, testing and deploying a CBDC will have several benefits.
www.weforum.org
Yeah, yeah, iam sure there's no top-down coercion to do this
The BIS (bank of international settlements) bares down on individual central banks and by extension, governments bare down on their citizens.
Karlysymon
Superstar
- Joined
- Mar 18, 2017
- Messages
- 7,324
TempestOfTempo
Superstar
- Joined
- Jan 29, 2018
- Messages
- 8,776
More soft violence to get rid of the unwanted masses and leave only those fit enough to remain as servants eh? I aint giving up my elders and I aint giving up those who are mentally or physicaly disabled.
BIS Calls For Centralization Of Crypto - Predicts Rise Of CBDCs
Zeorhedge posted this article on a bulletin put out by the BIS displaying the broken nature of the technology cryptocurrencies run on. The more users flood a currency, the greater the fees to process the transactions. Users are joining other currencies but there isn't an efficient bridge to translate within each other.
"Fragmentation means that crypto cannot fulfil the social role of money. Ultimately, money is a coordination device that facilitates economic exchange. It can only do so if there are network effects: as more users use one type of money, it becomes more attractive for others to use it. Looking to the future, there is more promise in innovations that build on trust in sovereign currencies."
Eff them. I sent the bulletin to a programmer I know because if the issue of scalability and interoperability could be improved there will be less incentive to rely on CBDC's.
Zeorhedge posted this article on a bulletin put out by the BIS displaying the broken nature of the technology cryptocurrencies run on. The more users flood a currency, the greater the fees to process the transactions. Users are joining other currencies but there isn't an efficient bridge to translate within each other.
"Fragmentation means that crypto cannot fulfil the social role of money. Ultimately, money is a coordination device that facilitates economic exchange. It can only do so if there are network effects: as more users use one type of money, it becomes more attractive for others to use it. Looking to the future, there is more promise in innovations that build on trust in sovereign currencies."
Eff them. I sent the bulletin to a programmer I know because if the issue of scalability and interoperability could be improved there will be less incentive to rely on CBDC's.
Karlysymon
Superstar
- Joined
- Mar 18, 2017
- Messages
- 7,324
I think that anyone who has invested a sizeable amount of money in crypto should take these kinds of statements seriously and act accordingly.
www.ibtimes.com
"A top executive of India's central bank said the launch of central bank digital currencies (CBDC) will "kill" cryptocurrencies. India is fast progressing down the path to launch of its own CBDC.
The Reserve Bank of India (RBI) has been quite vocal against cryptocurrencies and the blockchain industry in the previous years. The bank's Deputy Governor T Rabi Sankar said at an IMF conference in Singapore on Thursday, “We believe that central bank digital currencies (CBDCs) could actually be able to kill whatever little case that could be for private cryptocurrencies.”
India's Central Bank Says CBDCs Can 'Kill' Any Case That Exists For Cryptocurrencies
T Rabi Sankar, said that the launch of CBDCs will erase the existing usage of cryptocurrencies.
www.ibtimes.com
The Reserve Bank of India (RBI) has been quite vocal against cryptocurrencies and the blockchain industry in the previous years. The bank's Deputy Governor T Rabi Sankar said at an IMF conference in Singapore on Thursday, “We believe that central bank digital currencies (CBDCs) could actually be able to kill whatever little case that could be for private cryptocurrencies.”
Karlysymon
Superstar
- Joined
- Mar 18, 2017
- Messages
- 7,324
Crypto crisis means regulation will come sooner rather than later | Kenneth Rogoff
Cryptocurrencies’ use in avoiding taxes, laws and capital controls makes restrictions seem inevitable
www.theguardian.com
Advanced-economy governments will most likely find that the problems with cryptocurrencies eventually come home to roost. When that happens, they will be forced to institute a broad-based ban on digital currencies that do not permit users’ identities to be easily traced (unless, that is, technological advances ultimately strip away all vestiges of anonymity, in which case cryptocurrencies’ prices will collapse on their own). The ban would certainly have to extend to financial institutions and businesses, and would probably also include some restrictions on individuals.
Can some version of a ban be implemented? As China has demonstrated, it is relatively easy to shutter the crypto exchanges that the vast majority of people use for trading digital currencies. It is more difficult to prevent “on-chain” transactions, as the underlying individuals are harder to identify.
Ironically, an effective ban on 21st century crypto might also require phasing out (or at least scaling back) the much older device of paper currency, because cash is by far the most convenient way for people to “on-ramp” funds into their digital wallets without being easily detected.
When, if ever, might stiffer cryptocurrency regulation actually happen? Absent a crisis, it could take many decades, especially with big crypto players pouring huge sums into lobbying, much as the financial sector did in the run-up to the 2008 global financial crisis. But it probably won’t take nearly that long. Unfortunately, the crypto crisis is likely to come sooner rather than later. "
Last edited:
TempestOfTempo
Superstar
- Joined
- Jan 29, 2018
- Messages
- 8,776
This thread is so important and I keep learning more and more from it..."A more interesting question is what will happen when governments finally get serious about regulating bitcoin and its brethren. Of the big economies, only China has so far begun to do so. Most policymakers have instead tried to change the topic by talking about central bank-issued digital currencies (CBDCs).Crypto crisis means regulation will come sooner rather than later | Kenneth Rogoff
Cryptocurrencies’ use in avoiding taxes, laws and capital controls makes restrictions seem inevitable
Advanced-economy governments will most likely find that the problems with cryptocurrencies eventually come home to roost. When that happens, they will be forced to institute a broad-based ban on digital currencies that do not permit users’ identities to be easily traced (unless, that is, technological advances ultimately strip away all vestiges of anonymity, in which case cryptocurrencies’ prices will collapse on their own). The ban would certainly have to extend to financial institutions and businesses, and would probably also include some restrictions on individuals.
Can some version of a ban be implemented? As China has demonstrated, it is relatively easy to shutter the crypto exchanges that the vast majority of people use for trading digital currencies. It is more difficult to prevent “on-chain” transactions, as the underlying individuals are harder to identify.
Ironically, an effective ban on 21st century crypto might also require phasing out (or at least scaling back) the much older device of paper currency, because cash is by far the most convenient way for people to “on-ramp” funds into their digital wallets without being easily detected."
Karlysymon
Superstar
- Joined
- Mar 18, 2017
- Messages
- 7,324
Just thinking out loud...
We know that the big, inevitable plan/economic paradigm shift is CBDCs. Retail banking is going to be blown up inorder to pave the way for us to directly have accounts with "the" central bank. MSM is in a fever pitch that there is a looming economic event on the horizon. When the plug is pulled on the US economy, it's going to be 2008 all over again. It will reverberate across the world and retail banking will collapse and it won't be bailed out like last time. TPTB could just simply prick one bubble (a bank) or push one domino for hell to break loose but iam increasingly leaning toward the thought that they are actually going to put the lights out (Cyber Polygon). Bilderberg wouldn't discuss Continuity of gov't IF they weren't planning to switch off the lights or co-opting a natural disaster with similar ramifications.
We emerge on the otherside with a ready made infrastructure of digital IDs and CBDCs. When retail banking collapses, crypto exchanges would naturally have to deal with the central bank. In that day, cryptos could simply be outlawed or outright seized and you'd lose all your money. I don't know how the entire situation would play out honestly, but without a doubt we wake up on the otherside with our every action in society dependent on a digital ID....from having a social media account to voting...the exact conclusion to the Cyber Polygon exercise.
Curiously, this was the theme of an X Files scene (...banks announce security action, digital money disappears...lights go out)
We know that the big, inevitable plan/economic paradigm shift is CBDCs. Retail banking is going to be blown up inorder to pave the way for us to directly have accounts with "the" central bank. MSM is in a fever pitch that there is a looming economic event on the horizon. When the plug is pulled on the US economy, it's going to be 2008 all over again. It will reverberate across the world and retail banking will collapse and it won't be bailed out like last time. TPTB could just simply prick one bubble (a bank) or push one domino for hell to break loose but iam increasingly leaning toward the thought that they are actually going to put the lights out (Cyber Polygon). Bilderberg wouldn't discuss Continuity of gov't IF they weren't planning to switch off the lights or co-opting a natural disaster with similar ramifications.
We emerge on the otherside with a ready made infrastructure of digital IDs and CBDCs. When retail banking collapses, crypto exchanges would naturally have to deal with the central bank. In that day, cryptos could simply be outlawed or outright seized and you'd lose all your money. I don't know how the entire situation would play out honestly, but without a doubt we wake up on the otherside with our every action in society dependent on a digital ID....from having a social media account to voting...the exact conclusion to the Cyber Polygon exercise.
Curiously, this was the theme of an X Files scene (...banks announce security action, digital money disappears...lights go out)
Karlysymon
Superstar
- Joined
- Mar 18, 2017
- Messages
- 7,324
(6mins)
An important point raised is that if the FED, or any other central bank in the world becomes a "traditional" bank (in the sense of retail banking where we all have accounts), you cannot manage 330million customers, or in China & India's case...1+ billion customers. You cannot call up the FED at midnight complaining that you lost your password. Apparently, there's going to have to be an intermediary.
The only thing that came to mind, when he said that, was the data intermediary apparatus proposed by the WEF. Its the same document that stated that vaxx passports are digital IDs by nature.
www.weforum.org
www.weforum.org
An important point raised is that if the FED, or any other central bank in the world becomes a "traditional" bank (in the sense of retail banking where we all have accounts), you cannot manage 330million customers, or in China & India's case...1+ billion customers. You cannot call up the FED at midnight complaining that you lost your password. Apparently, there's going to have to be an intermediary.
The only thing that came to mind, when he said that, was the data intermediary apparatus proposed by the WEF. Its the same document that stated that vaxx passports are digital IDs by nature.
Data intermediaries are key to ensuring digital agency and privacy
Alongside the launch of a new report on the subject, experts discussed the power of data intermediaries to achieve trusted human-technology interaction.
www.weforum.org
Advancing Digital Agency: The Power of Data Intermediaries
In this Insight Report the World Economic Forum’s Taskforce on Data Intermediaries explores the potential to outsource human decision points to an agent acting on an individual’s behalf, in the form of a data intermediary.
www.weforum.org
Karlysymon
Superstar
- Joined
- Mar 18, 2017
- Messages
- 7,324
This clip from the WEF reveals the real & primary end goal of the inflation that seemingly plagues every country on the planet as of this moment. This plan and it's execution cannot possibly be something that was dreamt up "yesterday".
Manufacture shortages in a myriad of ways-->induce inflation-->then hyperinflation-->debase currencies worldwide-->propose digital currencies as a solution.
So it stands to reason that, especially for Western countries, CBDCs are already designed and ready for roll out, TPTB are just waiting for the right moment.
It's still a bit of a stretch that every country with a devalued currency will substitute it with a CBDC. I think another event will have to happen to ensure that there is worldwide adoption of (temporarily sovereign) CBDCs or an outright universal digital currency.
Manufacture shortages in a myriad of ways-->induce inflation-->then hyperinflation-->debase currencies worldwide-->propose digital currencies as a solution.
So it stands to reason that, especially for Western countries, CBDCs are already designed and ready for roll out, TPTB are just waiting for the right moment.
It's still a bit of a stretch that every country with a devalued currency will substitute it with a CBDC. I think another event will have to happen to ensure that there is worldwide adoption of (temporarily sovereign) CBDCs or an outright universal digital currency.
lightseeker
Star
- Joined
- May 18, 2018
- Messages
- 4,060
The Japanese yen is broken. It's skyrocketing inflation because they have unlimited printing for their bond market, however their bond yield is so low, .25%, it's being dumped. So the money printer has been running full time and the bond market won't stabilize. That's my layman's breakdown at least. More articles embedded in the zerohedge link.
www.zerohedge.com
Wonder if this will precede CBDCs and currencies rolling over by nessessity to a new system
ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
Wonder if this will precede CBDCs and currencies rolling over by nessessity to a new system