CBDCs: Financial Exclusion

Karlysymon

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Lagarde would be the second person saying that the system goes online in the Fall. There'd have to be a falseflag for gun confiscation between now and then, it seems. Ofcourse MSM has perpetuated the narrative that cash will disappear in 5yrs and that digital currencies will come into use "later in the decade"....i guess that means later in the year.

 

Karlysymon

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Given the above video, i wonder what event is going to happen inorder to blow up retail banking sector thus paving the way for CBDCs.

 

Karlysymon

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Just for fun...

Every time i see Varoufakis' name, this rings

...back then, when he & Tsipras made promises that failed to materialize. Can't really blame them though.
He says in the tweet: "Time to end the banking system. It is not reformed. It is not shielded. It is not civilized. And the most important; We don't need it!"

It's time to blow up the Banking System

The banking system we take for granted cannot be fixed. At the same time, we no longer need to rely on any private, for-profit, destabilizing network of banks.
 

Karlysymon

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It's amazing to me how much information is publicly available on all this and now iam nervous. I thought it was very interesting that Mark Carney made this global reserve currency proposal, publicly, back in 2019 at the annual Fed-heads meeting in Jackson Hole, Wyoming. For those who may have forgotten all about that very important meeting, see links and video below. He called it SHC- Synthetic Hegemonic Currency. Carney isn't some low-level player in all this, apart from being BoC and BoE governor, he also chaired BIS' Financial Stability Board. This testifies that they are lying to us about countries having their own individual/sovereign digital currencies. We are moving straight to a global reserve currency after the Reset.

Aug 23, 2019 Aug.23 -- Mark Carney laid out a radical proposal for an overhaul of the global financial system that would eventually replace the dollar as a reserve currency with a Libra-like virtual one. Bloomberg's Brian Swint has more on "Bloomberg Markets: The Close."
(3mins)

Link , Link
If we are to be realistic, even though the tv pundits won't say it, destroying the dollar as the world's reserve currency effectively signals the end of the American empire and by extension threatens the Union itself. Is the American public emotionally prepared for the fallout of a monetary Reset? That's the big question. Factions will emerge; those trying to save the Republic and those saying hell yes, sign the divorce papers! TPTB are aware of all this and the press has done a mental exercise in this regard. Going by what Mark Carney said, we will have a new, digital, reserve currency.
Therefore, MAGA was, is & remains a pipe dream. It's purveyors (post-2020) are either clueless or just being disingenous.


 

Karlysymon

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Buried deep, very deep, in Chapter 9.2 of the Canadian Budget you will find this: …”In the last several months, for example, there have been a number of high-profile examples—both around the world and here in Canada—where digital assets and cryptocurrencies have been used to avoid global sanctions and fund illegal activities.”

(Chapter 9.2) […] Budget 2022 includes measures that will help maintain the integrity of the financial system, promote fair competition, and protect both the finances of Canadians and our national security.

  • Budget 2022 announces the government’s intention to launch a financial sector legislative review focused on the digitalization of money and maintaining financial sector stability and security. The first phase of the review will be directed at digital currencies, including cryptocurrencies and stablecoins.
  • Budget 2022 also proposes $17.7 million over five years, starting in 2022-23, to the Department of Finance to lead the review.
The review will examine, among other factors: how to adapt the financial sector regulatory framework and toolbox to manage new digitalization risks; how to maintain the security and stability of the financial system in light of these evolving business models and technological capabilities; and the potential need for a central bank digital currency in Canada. (LINK)

Huh. Imagine that. What was called a “conspiracy theory” just a few weeks/days ago, is now the expressed intent of the same government who denied it was ever being considered.
 
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This might be a positive development, I'm not sure yet. They might not make the CBDCs programmable at first and then slowly and creepily make them later , but who knows. Non-programmable digital currency would be more like an "approved" cryptocurrency. I think people are catching up too fast they will have a hard time introducing their desired degree of control. Unless they pull the fake alien invasion as a distraction and make the changes under the table. Again I am seeing 2 timelines one positive and one negative.

 

Karlysymon

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Apparently UNICOIN is debunked?? At any rate, a world currency will have to be announced at some point. MSM misdirection that we are entering a multipolar world will not hold for long.


 

Karlysymon

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While Mark Carney's comments were in the context of Scottish Independence, i think what he said is still relevant in regard to a universal/world currency (2mins)

Currency Union incompatible with Sovereignity

 

Karlysymon

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We now stand at the threshold of another era of upheaval. Cash is on the way out, and the digital technologies that are replacing it could transform the very nature and capabilities of money. Today, central-bank money serves at once as a unit of account, a medium of exchange, and a store of value. But digital technologies could lead those functions to separate as certain forms of private digital money, including some cryptocurrencies, gain traction. That shift could weaken the dominance of central-bank money and set off another wave of currency competition, one that could have lasting consequences for many countries—particularly those with smaller economies.

To many, however, cash now seems largely anachronistic. Literally handling physical money has become less and less common as our smartphones allow us to make payments easily. The way in which people in wealthy countries like the United States and Sweden, as well as inhabitants of poorer countries like India and Kenya, pay for even basic purchases has changed in just a few years. This shift may look like a potential driver of inequality: if cash disappears, one imagines, that could disenfranchise the elderly, the poor, and others at a technological disadvantage. In practice, though, cell phones are nearly at saturation in many countries. And digital money, if implemented correctly, could be a big force of financial inclusion for households with little access to formal banking systems.

But it is worth keeping in mind that technology can have unpredictable consequences. Rather than leading to a proliferation of private and official currencies that compete on a level playing field, the digitization of currencies could make economic power even more concentrated. If major currencies such as the dollar, the euro, and the renminbi are easily available worldwide in digital form, they might displace the currencies of smaller and less powerful nations. Digital currencies issued by large corporations, taking advantage of the companies’ already dominant commercial or social media ecosystems, might gain traction too. Unless they are quashed by governments, they could one day turn into independent stores of value by giving up their fiat-currency backing. This could create even more monetary instability if individual countries wound up having multiple issuers of money, with competing domestic currencies fluctuating in value relative to one another.

All that is certain is that the international monetary system is on the threshold of momentous change wrought by the digital revolution. It remains to be seen whether this ultimately benefits humanity at large—or exacerbates existing domestic and global inequities.
 
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