- Mar 18, 2017
Take this for what you willWhile this is about UBI, it made me think that this is exactly how CBDCs are going to be programmed to function. In this South Korean experiment, the money can only be spent in your local area inorder to boost local businesses. We know TPTB want to perpetuate lockdowns and Mark Carney said that the "essential plumbing" is in place for green finance. I just concluded that as in the experiment, you simply won't be permitted to spend any money (UBI or otherwise) outside of your local town or country....in effect, locking you down. Furthermore, things like buying gas, I.C.E cars, animal feed,... anything that doesn't conform to their green dictates will simply be unattainable outside of barter trade.
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The ex-CIA insider also claimed when C-Day happens, paper money would be worthless and the U.S. dollar would crash. He said consumer spending and access to basic needs would also be restricted, and people holding too much money would be penalized.
This will be interestig in regards to Japan. They are still by-and-large a cash based society, many only use cards for online purchases or other instances where its required. They have a very fiat currency-centric economy, so these machinations will hopefully hit a wall there.In 2016, the European Central Bank (ECB) announced that it would stop minting €500 notes, in a move that they say is meant to curb fraud and money laundering. The 500 euro note is the second-largest denomination currently across the common euro currency zone, and the ECB says that it is the banknote of choice among criminals.In 2016, the European Central Bank (ECB) announced that it would stop minting €500 notes, in a move that they say is meant to curb fraud and money laundering.www.investopedia.com
While the stated purpose was to stop financial crime, others have speculated that this move was part of a recent "war" on cash, essentially with the government trying to get rid of cash and eliminate money from the economy. In a "race to the bottom" to weaken currencies in order to stimulate flagging economies around the globe, we may ultimately see a complete elimination of paper cash in favor of electronic money – not to be confused with digital currency, such as bitcoin, but rather fiat currencies stored as entries in bank accounts.