This statement echoes his previous comments on the matter, where he has consistently expressed strong opposition to the idea of a CBDC. He believes that such a currency would give the government too much control over people’s money and could potentially lead to financial tyranny.

Trump’s views on CBDCs seem to be part of a broader narrative that he’s building around protecting individual freedoms and liberties. It’s a message that resonates with many in the cryptocurrency community, who see digital currencies as a way to decentralize power and reduce government control.

Trump has previously called CBDCs a “dangerous threat to freedom.”

Trump’s firm stance underscores the escalating discussions surrounding CBDCs, a significant matter among global governmental bodies. To date, only a few countries have officially adopted such currencies. However, the digital currency landscape continues to evolve, with China advancing the implementation of its digital yuan, India progressing towards a digital rupee, and the European Central Bank initiating a preparatory phase for a potential digital euro.

CBDCs represent a significant evolution in the architecture of money. These digital forms of fiat currency, issued and regulated by a country’s central bank, promise enhanced efficiency in transactions and greater financial inclusion. However, they also pose potential risks to civil liberties that merit careful consideration. Here are some of the primary concerns:

1. Privacy

CBDCs could fundamentally alter the landscape of financial privacy. Traditional cash transactions allow for anonymity. With CBDCs, even small transactions might be traceable and recordable by the central bank. This could lead to a scenario where governments have access to detailed records of every individual’s financial life, raising significant privacy concerns unless robust safeguards are implemented.

2. Surveillance

The transition to a fully digital currency could potentially give governments unprecedented capabilities to monitor and surveil citizen behaviors. In regimes with weaker protections for civil liberties, this could be exploited to track political dissent or suppress opposition. The potential for surveillance not only impacts privacy but also freedom of expression and association.

3. Financial Censorship

With the centralization of currency issuance and transaction management, a CBDC could make it easier for governments to implement financial sanctions against individuals or groups without due process. Accounts could be frozen or transactions blocked more efficiently, which could be used as a tool for political repression or social control.

4. Exclusion

Despite the potential for greater financial inclusion, the reliance on digital infrastructure might marginalize those without access to technology or reliable internet, such as rural populations or the economically disadvantaged. This could exacerbate existing inequalities and restrict access to essential services for those on the fringes of the digital economy.

5. Cybersecurity Risks

The concentration of financial data in a central digital system increases the risk of systemic failures due to cyberattacks. A successful attack could compromise the integrity of a nation’s entire financial system. Moreover, the implications of such attacks extend beyond economic damage to potentially crippling impacts on individual financial security and privacy.

6. Centralization of Power

CBDCs concentrate monetary control significantly. This centralization of financial power could reduce the checks and balances provided by a more distributed banking system, increasing the potential for abuse by those in power, particularly in undemocratic regimes.

7. Legal and Ethical Implications

The implementation of CBDCs raises several legal and ethical questions, including the scope of government intervention in personal finances, the rights of individuals under a digital currency system, and the balance between national security and personal freedoms.

However, capital immobility hindered trade among countries. Since encouraging free trade was one of the initial goals of the system, it was undermined by capital immobility, leading to the collapse of the Bretton Woods system.

The Burning Platform‘s economic and political writer Brandon Smith recently warned: “Think of world reserve status as a ‘deal with the devil.’ You get the fame, fortune, trophy dates and a sweet car for a while. Then one day the devil comes to collect and when he does, he’s going to take everything, including your soul. Unfortunately, I suspect collection time is coming soon for the United States.”

According to him, the Department of the Treasury understands that there is constant demand for dollars overseas as a means to more easily import and export goods. The petrodollar monopoly made the U.S. dollar essential for trading oil globally for decades. Of course, the central bank of the U.S. has been able to create fiat currency from thin air to a far higher degree than any other central bank on the planet while avoiding the immediate effects of hyperinflation, he added.

As a result, the cash ended up in the coffers of foreign central banks, international banks and investment firms. Sometimes it is held as a hedge or bought and sold to adjust the exchange rates of local currencies. As much as 60 percent of all U.S. currency and 25 percent of the national debt is owned outside America.

The current problem is that the Fed is overprinting dollars that it stows currency, but it has time constraints. Eventually the effects of overprinting “come home to roost.” And it may take a brand-new Bretton Woods-like system that removes the dollar as the global reserve currency and replaces it with a new digital basket system like the IMF’s Special Drawing Rights (SDR) currency.

Lately, international banks are already expressing a shift from a dollar-based financial world to using a central bank digital currency (CBDC)-focused system built on unified ledgers. This will place the IMF as the middleman controlling the flow of digital transactions. (Related: IMF “working hard” on new global CBDC platform to replace dollar and other national currencies.)

“We could end up in a world where we have connected entities to some degree, but some entities and some countries that are excluded. And as a global and multilateral institution, we’re sort of aiming to provide a basic connectivity, a basic set of rules and governance that is truly multilateral and inclusive,” the IMF noted in a discussion on centralized ledgers in 2023.

Former White House economist says BRICS could swing an “economic wrecking ball” at dollar dominance

Thanks to BRICS, a bloc comprising Brazil, Russia, India, China, South Africa and, as of 2024, new members Egypt, Ethiopia, Iran and the United Arab Emirates, an economic wrecking ball could be swung to break dollar hegemony, especially since the bloc has been gaining more influence and growing its size.

This was according to former White House economist Joe Sullivan. In a recent op-ed for Foreign Policy, he pointed to mounting fears that BRICS nations could create a currency to rival the U.S. dollar in international trade. Though BRICS officials have said there is no such rival currency in the works, the group could pose a threat to the greenback based on its growing influence, Sullivan warned.

Now that Egypt, Ethiopia and Saudi Arabia already joined BRICS, they could influence over 12 percent of all global trade. That’s because those three countries surround the Suez Canal, a key passage for goods to flow into international markets.

The economist further said that BRICS has major sway in commodities markets. Saudi Arabia, Iran, and the United Arab Emirates are among the world’s top exporters of fossil fuels. Brazil, China, and Russia, meanwhile, are major exporters of precious metals.

Saudi Arabia’s joining could give BRICS a major advantage. The Middle Eastern nation owns over $100 billion in U.S. Treasury bonds, which has helped bring BRICS’ total holdings in the Treasury over $1 trillion, Sullivan further stated.

“The BRICS+ nations do not need to wait until a shared trade currency meets the technical conditions typical of global reserve currency before they swing their newly enlarged economic wrecking ball at the dollar,” he added.

Sound off about this article on the Economic Collapse Substack.

DollarDemise.com has more stories on the death of the dollar. Watch the video where Andy Schectman talks about economic Armageddon, forced CBDC and BRICS. This video is from Sarah Westall’s channel on Brighteon.com.

More related stories:

• IMF says SEIZURE of frozen Russian assets must have sufficient legal support.
• IMF hints that countries will soon be able to repay debt using Chinese YUAN currency.
• Move over USD: Argentina uses Chinese yuan to settle IMF debt.
• IMF unleashes Unicoin, a new global CBDC intended to enslave the entire planet under a one world digital currency.

Sources include:

• CorporateFinanceInstitute.com
• TheBurningPlatform.com
• Expose-News.com
• Markets.BusinessInsider.com
• Brighteon.com

Central banks are raising interest rates and enacting restrictive monetary policies as quickly as governmental regulations allow because they are aware that monetary factors are the primary cause of inflation. Central banks have recently lost credibility by initially disregarding the inflation danger, then attributing it to transitory factors, and finally responding belatedly and gradually.

In a world where there is an excess in money supply growth, there are mechanisms in place to prevent a significant rise in consumer prices caused by the destruction of the purchasing power of the issued currency. Quantitative easing is subject to some constraints that partially prevent inflationary forces. As the banking channel serves as the transmission mechanism of monetary policy, credit demand acts as a constraint on inflationary pressures.

Now, consider if the transmission mechanism was direct and utilizing only one channel, the central bank. It is not the same to have a police officer walking down your street than to have a police officer in your kitchen watching your every move.

A central bank digital currency would be directly issued to your account held at the central bank. At best, it is surveillance masquerading as currency. The central bank would have precise information of your currency usage, savings, borrowing, spending, and transactions. It can enhance the fungibility of money to prevent the common but unfounded problem of “excess savings.”

Moreover, as central banks become more politically involved, they might impose penalties on individuals who spend in a manner they consider unsuitable, while rewarding those who follow their recommendations. The entire privacy system and monetary limit mechanism would be removed. Moreover, if the central bank makes a mistake and creates an excess of money supply, as shown in 2020, it would immediately make consumer prices rocket. If the money supply increases dramatically in a year, we would experience massive inflation levels as the existing constraints of the transmission mechanism are eliminated.

Consider a scenario where you have a single account, a central bank, and the government. Guess what would happen? Full monetary financing of government spending leading to elevated inflation within a few years and the destruction of the private sector. Central bank digital currencies are likely to be a computerized rendition of the French Assignats. High inflation, complete government control, and financial repression.

Central bank digital currencies are unnecessary and dangerous. You cannot initiate an experiment pf such magnitude when the autonomy of central banks has been questioned for years and there is abundant evidence of mistakes made with policy measures that do not acknowledge the danger of increased inflation and economic stagnation. Central banks have never successfully prevented bubbles, high levels of risk-taking, excessive debt, or identified inflationary pressures.

Given such history, no one should support a proposal that would grant them complete authority and control over the financial and monetary system. What do central banks mean when they discuss a novel digital currency? It is a further advancement in the ongoing process of eroding the purchasing power of the currency, disguised under the objective of enhancing oversight of payments and facilitating the tracking of specific payment methods.

The primary arguments for considering a central bank digital currency are efficiency and enhancing the transmission mechanism of monetary policy. However, none of them make sense. Central banks often claim the need to enhance the transmission mechanism of monetary policy, but many of their statements are founded on an inaccurate belief that there is an excess of savings that requires a change in behaviour.

By manipulating the cost and quantity of the currency issued, central banks aim to correct what they perceive as imbalances. However, monetary policy rarely addresses the largest imbalances, which are the ones created by government deficits and debt accumulation. Disguising risk in sovereign debt leads to more imprudent fiscal policies and adds to the risk of bubbles in financial markets as perceptions of risk are clouded by low rates and high liquidity.

A digital currency does not enhance the transmission mechanism of monetary policy unless the word “enhance” is used to hide a desire to boost the size of government in the economy through the erosion of the purchasing power of the currency and the constant monetary financing of public deficits. Another aspect to consider is efficiency. Central banks appear to prioritize the regulation of monetary transactions and encourage spending regardless of the risks involved. Creating a central bank digital money system is not more efficient. It is another form of financial control. If negative interest rates are ineffective in stimulating economic agents, some believe that implementing negative rates and devaluing the currency faster using a digital currency may be more successful. They are wrong.

The economy does not strengthen by making the currency a disappearing reserve of value. Introducing a central bank digital currency is unlikely to reduce economic risks or stimulate productive investment but will encourage short-term malinvestment. Central banks are unable to compel economic agents to spend and invest, especially when their strategies continually focus on encouraging debt and prolonging government imbalances. The process of any asset becoming a widely used currency is highly democratic.

It is beyond the jurisdiction of governments and cannot be enforced. When governments and central banks implement financial repression and devalue their currency, citizens may turn to other forms of payment that are considered genuine money. Cryptocurrencies have emerged due to a lack of trust in fiat currencies and the ongoing efforts of central banks and governments to devalue currencies in order to conceal underlying fiscal imbalances.

A central bank digital currency is a contradiction in terms—an oxymoron. Citizens demand cryptocurrencies because they are not controlled by central banks that seek to grow the money supply and induce currency depreciation through inflation. Central banks should prioritize safeguarding the purchasing power of savings and salaries rather than seeking to destroy them. Using new means of financial repression may lead to a loss of confidence in the local currency. Once central banks acknowledge that they have exceeded the appropriate limits of their policy, it will already be too late.

Central bank digital currencies are unnecessary and dangerous.

The benefits of technology, digitalization and ease of transactions are already there. There is no need to create a currency issued directly to an account at the central bank. They are unnecessary as well because there is absolutely no need to compete with a digital yuan or bitcoin. China is moving closer to sound monetary policy and its central bank is purchasing more gold, not the opposite.

If central banks want to compete with other currencies or cryptocurrencies there is only one way: Make it absolutely clear that you will defend the reserve of value status of your currency. There is no need for the euro or the US dollar to compete with bitcoin or a digital yuan if the Fed and the ECB truly defend their reserve of value and purchasing power.

However, it looks like central banks want to behave like a monopoly that sells bad quality products but demands to remain the main supplier by eliminating the competition. The Fed and the ECB do not need to compete against cryptocurrencies if they show the world that they will defend the purchasing power of the US dollar and the euro.

The world’s financial challenges are not solved by imposing total control implemented by a monetary monopoly whose independence is seriously questioned, but by increasing competition and independence.

That’s been apparent to anyone paying attention for years, if not decades, and any tiny portion of remaining doubt was removed when Covid was rolled-out and members of the establishment started outright saying it.

Covid marked an acceleration of the globalist agenda, a mad dash to the finish line that seems to have lost momentum short of victory, but the race is still going. The goal has not changed, even if the years since may have seen the agenda retreat slightly back into the shadows.

We know what they want conceptually, but what does that mean practically? What does a potential “global government” actually look like? First off, let’s talk about what we’re NOT going to see.

1 – They are not going to declare themselves. No, there will almost certainly never be an official “world government”, at least not for a long time yet. That’s a lesson they learned from Covid — putting a name and a face on globalism only foments collective resistance to it.

2 – They’re not going to abolish nationhood. You can be sure Klaus Schwab (or whoever) isn’t ever going to appear simulcast on every television in the world announcing that we’re all citizens of ze vurld now and that nation states no longer exist.

In part because that is likely to focus resistance (see point 1), but mainly because tribalism and nationalism are just too useful to all would-be manipulators of public opinion. And, of course the continuing existence of nation states in no way precludes the existence of a supra-national control system, any more than the existence of Rhode Island, Florida or Texas precludes the existence of the Federal government.

3 – There will never be an overt declaration of a change of system. We will not be told we are united under a new model, instead the illusion of regionality & superficial variance will camouflage a lack of real choice across the political landscape. A thin polysystemic skin stretched tight over a monosystemic skeleton.

Capitalism, communism, socialism, democracy, tyranny, monarchy…these words will steadily dilute in meaning, even more than they have already, but they will never be abandoned.

What globalism will bring us – I suggest – is a collection of nation-states largely in name only, operating superficially different systems of government all built on the same underpinning assumptions and all answering to an unelected and undeclared higher authority.

…and if that sounds familiar, it’s because it’s essentially what we have already.

The only major aspects missing are the mechanisms by which this rough model can be transformed into a flowing network, where all corners are eroded and all genuine sovereign powers become entirely vestigial.

That’s where the three main pillars of global rule come in:

1. Digital Money
2. Digital ID
3. “Climate Action”

Let’s take a look at each one in turn.

1. DIGITAL MONEY

Over 90% of the nations of the world are currently in the process of introducing a new digital currency issued by their central bank. OffG – and others – have been covering the push for a Central Bank Digital Currencies (CBDCs) for years now, to the point where we don’t need to rehash old talking points here.

Simply put, entirely digital money enables total surveillance of every transaction. If the currency is programmable, it would also allow control of every transaction. You can read our extensive back-catalogue on CBDCs for more detail.

Clearly CBDCs are a potentially dystopian nightmare which will infringe the rights of anyone forced to use them….but how are they a building block of global government? The answer to that is “interoperability”.

While the world’s national CBDCs will notionally be separate from one another, the majority are being coded to recognize and interact with each other. They are almost all being developed along guidelines produced by the Bank of International Settlements and other globalist financial institutions, and they are all being programed by the same handful of tech giants.

A June 2023 report for the World Economic Forum noted the importance of “Central Bank Digital Currency Global Interoperability Principles” and concluded:

It is crucial for central banks to prioritize interoperability considerations early in the design process by adhering to a set of guiding principles. To facilitate global coordination and ensure harmonious implementation of CBDCs, the development of a comprehensive set of principles and standards becomes imperative. Drawing upon previous research and collaborative efforts, this set of principles can serve as a robust foundation, guiding central banks to proactively consider interoperability from the outset of their CBDC initiatives. By adopting these principles, central banks can work towards creating a cohesive and interconnected CBDC ecosystem.

Commenting on the report, the World Economic Forum website noted [emphasis added]:

To ensure successful implementation and promote interoperability, global coordination becomes paramount […] adhering to interoperability principles, CBDCs can advance harmoniously, leading to efficient and interconnected digital payment systems.

It doesn’t take a genius to decode “global coordination”, “cohesive ecosystem”, “harmonious advancement” and “interconnected payment systems”.

There is no practical difference between 195 “interoperable” and interconnected digital currencies, and one single global currency.

In fact “interoperability” is the watchword for all globalist power structures moving forward. Which leads us neatly onto…

2. DIGITAL IDENTITY

The global push for mandatory digital identities is even older than the digital currency agenda, dating back to the turn of the century and Tony Blair’s “national identity cards”.

For decades it has been a “solution” posited to every “problem”.

• Terrorism? Digital identity will keep you safe.
• Illegal immigration? Digital identity will secure the border.
• Pandemic? Digital identity will keep track of who is vaccinated and who is not.
• AI? Digital identity will prove who’s human.
• Poverty? Digital identity will “promote financial inclusion”

Clearly, just as with CBDCs, a far-reaching digital identity service is a threat to human rights. And, just as with CBDCs, if you interconnect national digital identity platforms you can build a global system.

Again, it’s all about “interoperability”. They use the exact same language. The World Bank’s Identity4Development program claims:

Interoperability is crucial for developing efficient, sustainable, and useful identity ecosystems.

The Nordic and Baltic Ministers for Digitalization publicly called for “cross-border” operational digital IDs.

NGOs like Open Identity Exchange(OIX) are publishing reports on “the need for data standards to enable interoperability of Digital IDs both in federations within an ID ecosystem, and across ID ecosystems.”.

The list of national governments introducing digital IDs, “partnering” with corporate giants to do so and/or promoting “cross border interoperability” is long, and growing longer all the time.

In October 2023 the United Nations Development Program published their “guidelines” for the design and use of digital identities.

There is no practical difference between 195 networked digital identity platforms and one single global identity program.

OK, so they have global currency and identity programs in place. Now they can control and monitor everyone’s movements, financial transactions, health and more. That’s surveillance and control mechanism, all handled in a distributed model designed to obfuscate the very existence of a global government.

But what about policy? How does this global government hand down policy and legislation without giving away its existence? Climate change, that’s how.

3. “CLIMATE ACTION”

Climate Change has been at the forefront of the globalist agenda for years. It is the Trojan horse of the antihuman technocrat.

As long ago as 2010, noted Climate Change “experts” were suggesting that “humans are not evolved enough” to combat climate change and that “It may be necessary to put democracy on hold for a while.”

More recently, in 2019, Bloomberg was publishing articles with headlines like “Climate Change Will Kill National Sovereignty As We Know It”, and academics are telling us:

States will remain unable to solve global crises like climate change until they let go of their sovereignty

For years climate change has been sold as the reason we might be “forced” to abandon democracy or sovereignty.

Alongside this, there is a prolonged propaganda narrative dedicated to changing “climate change” from an environmental issue into an everything issue.

At this point all national governments agree “climate change” is an urgent problem requiring global cooperation to solve. They host massive summits at which they sign international agreements, binding nation states to certain policies, for the sake of the planet.

Having established that model, they are now widening the “climate change” purview. Changing “climate change” into the answer to every question:

Obviously, “climate change” was always going to impact energy and transport.

Following Covid, “climate change” has already been re-branded a “health crisis”. Now we’re being told “climate change” is generating a food crisis. We’re being told that international trade needs to be climate conscious. We’re being told by the World Bank that education reform will help the fight against climate change. We’re being told by the IMF that every country in the world should tax carbon and, in a recent cross-over episode, that CBDCs can be good for the environment.

See how it works?

Agriculture & food, public health, energy & transport, trade, fiscal & taxation policy, even education. Almost every area of government is now potentially covered by the “climate change” umbrella.

They no longer need a one-world government, they just need a single panel of “impartial international climate change experts” working to save the planet.

Through the lens of “climate change”, these experts would be empowered to dictate – sorry, recommend – government policy in almost every area of life to every nation on the planet.

Do you see it yet?

This is global government in the modern world, not centralised but distributed. Cloud computing. A supranational corporate-technocrat hivemind. With no official existence or authority, and therefore no accountability, and funneling all their policy decisions through one filter – climate change.

There won’t be a single global currency, there will be dozens and dozens of “interoperable” digital currencies creating an “harmonious payment ecosystem”.

There won’t be a single global digital identity service, there will be a series of “interconnected identity networks” engaging in the “free flow of data to promote security”.

There won’t be a global government, there will be international panels of “impartial experts”, appointed by the UN who make “policy recommendations”.

Most or all of the countries of the world will follow most or all of the recommendations, but anyone who calls these panels global governments will be forwarded fact-checks from Snopes or Politifact  highlighting that “UN expert panels do NOT constitute a global government because they have no legislative power”.

This, I suggest, is how  global government will take shape in 2024 and beyond. Compartmentalized, utterly deniable…but very, very real.

The IMF’s “Central Bank Digital Currency Virtual Handbook” published last week pointed out that the increased use of CBDCs can “reduce dollarization” of the global economy—a situation where countries move away from relying on the U.S. dollar as a reserve currency. De-dollarization would push up borrowing costs in the United States, making loans expensive for businesses and individuals, thus affecting economic growth. Stock market values can also crash, reducing the savings and investments of Americans.

In addition to de-dollarization, a CBDC “could increase risks of flight to safety from retail bank deposits in periods of market stress.” During times of market volatility, customers withdraw their deposits and move it into safe assets to avoid losing money in scenarios like bank collapses.

If CBDCs were available, pulling out funds from a bank and putting them in such assets will come across as a safe option for many people, thus triggering a bank run.

The organization pointed out that CBDCs could offer “a safe store of value and efficient means of payment, which can increase competition for deposit funding, raise banks’ share of wholesale funding, and lower bank profits.”

The IMF handbook was published as the organization’s Director Kristalina Georgieva promoted the use of CBDCs during the Singapore FinTech Festival on Nov. 15, arguing that such digital currencies could bring an end to the cash-based economy.

“CBDCs can replace cash, which is costly to distribute in island economies,” she said during a speech. “CBDCs would offer a safe and low-cost alternative to cash. They would also offer a bridge to go between private monies and a yardstick to measure their value, just like cash today, which we can withdraw from our banks.”

Back in May, Ms. Georgieva said that the world was heading towards widespread CBDC adoption without considering the risks involved in such a transition.

“What we are careful about is the choice between wholesale and retail CBDCs. We think that wholesale CBDCs can be put in place with fairly little space for undesirable surprises. Whereas retail CBDCs, they completely transform the financial system in a way that we don’t quite know what consequences it could bring,” she said during a discussion.

Wholesale CBDCs are meant to be used in interbank settlements as well as transactions between institutions and other market participants, while retail CBDCs are for use by the general population and other institutions.

A potential risk of retail CBDCs is that funds get pulled out from traditional commercial banks and deposited as CBDCs in central banks. The depletion of deposits will affect the lending ability of commercial banks, possibly worsening any banking crisis.

US Government CBDC

While the IMF pushes ahead with the promotion of CBDCs, Republican lawmakers are taking steps to prevent the U.S. government from issuing such digital currencies. In September, Rep. Tom Emmer (R-Minn.) reintroduced the CBDC Anti-Surveillance State Act.

In a Sept. 12 press release, Mr. Emmer pointed out that unlike decentralized cryptocurrencies like Bitcoin, CBDCs are designed and issued by a government “and [transact] on a digital ledger that is controlled by that government.” This could give the administration the power to “surveil Americans’ transactions and choke out politically unpopular activity.”

The bill imposes the following prohibitions:

• It prevents the U.S. Federal Reserve from issuing a CBDC directly to individuals, thus making sure that the Fed cannot mobilize itself as a retail bank and collect personal data of Americans.
• It prohibits the Fed from indirectly issuing a CBDC to individuals via an intermediary, thereby blocking the central bank from launching a retail digital currency through a two-tiered financial system.
• It bans the Fed from using any CBDC to implement its monetary policy. This ensures that the central bank is not able to use these currencies as a “tool to control the American economy.”

In March 2022, President Joe Biden signed an executive order asking the Fed to continue its ongoing research and experimentation of CBDCs and to evaluate the benefits and risks of a digital dollar.

Talking about the issue, Mr. Emmer said that “agency reports to that executive order have made it clear that the Biden Administration is not only itching to create a CBDC, but they are willing to trade American’s right to financial privacy for a surveillance-style central bank digital currency.”

“We’re not going to let this happen,” he said. The CBDC Anti-Surveillance State Act “ensures the United States digital currency policy is in the hands of the American people—not the Administrative State—so that it reflects our American values of privacy, individual sovereignty, and free market competitiveness.”

On Sept. 20, the House Financial Services Committee passed the bill.

Back in April, Federal Reserve Board member Michelle Bowman warned in a speech that a CBDC may pose “significant risks, challenges, and tradeoffs.”

There is a “risk that a CBDC would provide not only a window into, but potentially an impediment to, the freedom Americans enjoy in choosing how money and resources are used and invested.”

A CBDC could also lead to the politicization of the payments system, potentially undermining the independence of the Fed, Ms. Bowman said.

In May, Florida’s House of Representatives passed a bill banning the use of CBDCs in the state. The bill defined money to exclude CBDC. Weeks before the bill was passed, Florida Gov. Ron DeSantis had pointed to China as a potential example of how CBDCs could negatively affect people.

“Look no further than China, in seeing the impact of centralized digital currency,” he said. “The People’s Bank of China uses its central bank to monitor citizen behavior, allowing for the surveillance of spending habits and to cut off access to goods and services.”

Sound off about this on the Economic Collapse Substack.

A new report by Legacy Research claims that universal basic income (UBI) will pave the way for the rulers’ endgame: CBDC. By dolling out a UBI with the help of a digital ID and CBDC, the slave class will be able to be fully controlled by the rulers.

 UBI offers a no-strings-attached monthly payment… for everyone, at every income level.

To pay for all this, governments will need digital money. It’s the most efficient way to manage and track such a massive transfer of wealth.

That digital money will come in the form of a central bank digital currency (CBDC).

I’ve been warning you about the privacy threats CBDCs pose since June.

Currently, 114 countries – representing over 95% of global gross domestic product (GDP) – are exploring a CBDC. And 11 have launched a CBDC, including China, Nigeria, and Saudi Arabia. –Legacy Research

• The Rulers Announce A Plan For Global CBDC & Digital ID Scheme

So is their plan to impoverish everyone by inflating the fiat currency, so they can swoop in with a UBI and “save” the poor suffering slaves? Most likely. In order to fully control the human population, the rulers need to get a CBDC in place before too many realize that government is slavery and this is nothing more than invisible, but permanent chains of all of us.

In order for this scheme to work, the rulers will need to convince the slaves it’s in their best interest to take the currency. Americans are easily persuaded. After all, a lot of them took the “vaccine” in exchange for a free donut. Many will be willing to accept the CBDC in exchange for a small sum of fiat currency.

It all started in July with the launch of FedNow, which Legacy Research describes as the “Trojan Horse” of digital currencies and the completion of the slave system. Once you’re signed up with a federal bank account, you have officially “signed a contract” making yourself their slave, no illusion of freedom will be needed. You are literally handing over what’s left of your essential freedoms and privacy.

The rulers will take what they want, freeze your account, cut off your UBI, or simply “remove” you from access to their system if you do things they dislike.

In order for this scheme to work, the ruling class will need our “consent”. That means we are likely going to be forced to sign up on our own in order to get the free “donut”. Much like they did with the COVID injections, they need you to go voluntarily ask them to be a slave. Once you’re locked in, there will be no way out. We all should be standing up to this egregious act of tyranny now.

The masters seek to erect a permanent digital cage around every single human on this planet. The rulers already have as much money and resources as they could ever want. But what they really desire is power.

Amidst this chaotic phase, it’s impossible to predict even the near future. The best we can do is form a hypothesis and orient our actions around it. Today I’m going to lay out my process and conclusions. I hope that they will be as useful to you as they have been to me.

Assumptions

We’ve been taught that assumptions are bad. They make an “ass” out of “u” and “me”. But, that’s not always true. I developed a set of assumptions about the future to build a framework of understanding. I use that framework to identify what IS in my control and what is NOT in my control.

The things outside our control, we can stop worrying about. They’re not up to us. Instead, our concern is what IS in our control and all our energy and resources should be dedicated there.

Before I get to the assumptions I’m operating under. Let me say – They are assumptions not predictions. I could be wrong. Hell – I hope I’m wrong. But with nearly three years of the “Great Reset” under our belt, I bet you’ll agree – they have merit.

None of this should be taken as a blackpill. No problem can be solved without sober identification and acceptance. of the nature of the challenge. That’s all we’re doing here. With that in mind, here are the 11 assumptions I’m using today to guide my actions.

1. Less Freedom of movement. There will be more effort so to restrict and regulate our freedom of movement. From Vax passports to increased visa requirements and 15-min city initiatives – a grid is being constructed to regulate our freedom of movement.

2. A CBDC is coming. Cash will be eliminated. How restrictive it may end up being, I don’t know. But, CBDC is a foregone conclusion. Timing? BIS publishes estimates of 14 retail CBDC and 9 wholesale by 2030. And there are indications that the major economies are working to be ready to deploy by 2025.

3. The digital ID is already here. Biometrics are the future. If you have a government issued ID associated with your photograph, you are in the system already. How the ID is deployed and enforced is the only question.

No more passport or boarding passes pic.twitter.com/miNoY0uciL

— karma (@karma44921039) September 21, 2023

4. GFC 2.0 and/or the Greater Depression. Timing is hard. But, can any thinking person imagine how the outcome can be avoided altogether. Simon Hunt suggests a market pullback of up to 30% between now and early 2024 followed by a pump and a deflationary wipeout in 2025.

5. Most of my financial assets will disappear at some point. Inflation, bank bail-in, market wipe out, or Great Taking. I don’t know the cause, but I assume physical assets are where I need to be, ultimately.

6. Increasing crime & disorder. You’ve seen the videos. Whether, driven by economic desperation, mass migration, the inversion of law, or in the name of social justice. Crime and disorder will grow and lead to greater physical threats to our lives and property from our fellow man. This makes urban environments, especially but not exclusively, a real risk.

7. Supply constraints are increasing around all commodities – from food to energy. Tight supplies are showing up everywhere. Live Cattle, long dormant, hit an all-time high recently. Oil Prices are up 30% in the last three months. 40% of Argentina’s wheat crop is in poor to fair condition and protectionist policies are on the rise globally.

8. WW3 is coming. A good case can be made that it’s already begun. The Army War College recently published a study suggesting that the All Volunteer Force had reached the end of its useful life. With the military struggling with recruiting, conscription is likely at some point.

9. Censorship and Digital Control will enter a new phase. Deplatforming, de-banking, shadow banning, and social media account suspensions will increase. Centralized digital services of all kinds should be considered suspect and, very likely, dangerous to use in the future.

URGENT: The Secretary-General of the @UN, @antonioguterres, wants to silence anyone who dares to stand in the way of their global power grab.

The UN, once a beacon of hope and peace, has devolved into a totalitarian entity and thus needs to be dismantled. pic.twitter.com/iH9ChwDkv9

— Dr. Simon Goddek (@goddeketal) September 23, 2023

UN Chief calls “dis-information” a clear and present global threat.

10. The US election – regardless of the outcome – is an inflection point and potentially a flash point. IF it happens, the outcome will not be accepted by half of the country. I’ve heard from more than one source, publicly and privately, that there may not be a 2024 election. Who knows? We can be sure of is that running up to and shortly after the election, things could get wild. In advance of the 2020 election we had Covid and BLM. Shortly after, J6 and state overreach. What will 2024 bring?

11. There is a war happening today. It’s a war on us. The primary battleground is within the sphere of 5GW – informational/psychological. Where I’ve been wrong in the last three years, it’s been in my assumption that kinetic coercion would be utilized. As we can see, much progress has been made in the Great Reset without the need for kinetic tactics. For most of this cycle, they will rely on this same approach. If/When we see a move toward kinetic force, we should be alarmed because we will have entered a new and more dangerous phase.

Do you disagree with any of my assumptions? Did I miss anything? Let me know. I see all of the assumptions as “Out of my control”. They may not come to pass, but whether they do or not is not up to me. Of course, I’ll continue to speak out against them. If enough of us do, it may help. Possibly.

Since these unfortunate outcomes are out of my control, I don’t worry about them. And free from the burden of unsolvable problems, I can fully devote my energy and resources to what IS within my control.

Members of The Phyle have been doing exactly that over the last year. Much progress has been made. And there’s much more we can do. Let’s focus there.

I argued that as the strategic reserves ran out and Biden lost his leverage, CPI would rise again and prices on a number of necessities would climb.  This is happening now, with the biggest jump in CPI in 14 months and gas prices clawing back towards all-time highs.

Inflation is not going away anytime soon, but the bigger issue at hand is who benefits most from inflation and rising prices? The answer might be obvious to some but many people are oblivious to the root cause of inflationary dysfunction and often see it as a consequence of random economic chaos rather than a product of clever engineering. The truth is, banking oligarchs and political authorities revel in the inflationary tidal wave because it is a perfect opportunity to institute far reaching socialist controls over resources.

In most cases central bankers are the primary culprits behind the creation of an inflationary event, and the word “creation” best applies because it is nearly impossible for overt inflation to occur without them. While money supply is not the only factor when dealing with inflation (sorry purists, but there are indeed other causes), it is the most important. More money chasing less resources triggers supply-side instability and prices go up. Central banks have a number of excuses as to why they “need” to conjure up more dollars or pesos or pounds or marks, but there is no doubt that they know what the ultimate end result will be.

It’s happened too many times for them not to know…

These inflation events trigger a predictable set of dominoes in society as well as in economy and finance. Price spikes, diminished savings, rising poverty, rising crime, and rising interest rates – This is then followed in most cases by failed rate hikes, more inflation, then more hikes, diminishing foreign investment in debt, foreign currency dumps (causing more inflation), plunging consumer spending and job losses.

This same pattern has been witnessed from 1920s Weimar Germany to 1970s America to 1990s Yugoslavia to 2000s Argentina and Venezuela and beyond. But what happens next? In each case the trend leads first to price controls on producers and distributors, which ultimately fail. Then comes government rationing and the complete takeover of necessities including the food supply.

Think it can’t happen in the US? It already has. In 1971 Richard Nixon issued Executive Order 11615, (under the Economic Stabilization Act which was established in 1970); the order demanded a 90 day freeze on wages and prices in order to counter inflation. It was an exceedingly rare action outside of a world war and conveniently took place during the election cycle. Keep in mind, the real inflationary crisis had not happened yet, but the price controls gave markets a short term boost and gave Nixon an election win.

In 1973, controls returned during the Arab Oil Embargo. They failed and resulted in long term gas price inflation. Gerald Ford then called for American businesses to institute price controls under his “Whip Inflation Now” campaign; it was the subject of ridicule and was even made fun of by a young Joe Biden (who now falsely claims to have solved his own inflation problem with his useless Inflation Reduction Act).

Finally, Jimmy Carter introduced price and wage “guidelines” (controls) which rewarded businesses that raised prices below a set percentage. Any businesses that raised prices above the percentage and made a pre-tax profit above the previous two years would be penalized. In no case could a firm increase its dollar profit by more than 6.5 percent unless the excess was attributable to increased unit sales volume. This plan, of course, also failed to stop inflation.

Ultimately, the Fed had to jack rates up to around 20% in 1980-1981 to stop exponential inflation, which led to considerable business losses and high unemployment.

The problem is simple, price controls lead to lost profit incentive which leads to less production. Less production leads to less supply and less supply leads to rising prices. This is on top of the root cancer that is fiat money creation. Politicians will rarely if ever address the actual cause of an inflationary crisis:  The government and the central banks. Instead, they try to blame free markets, “greedy” businesses and profit taking in times of distress.

Sadly, the pattern is repeating again today as it is now becoming clear to the public that central bank interest rate hikes are not having a significant effect and the public is still paying between 25%-50% more on the majority of goods they purchase compared to three years ago. As inflation grinds forward, multiple leftist governments are now openly discussing price controls.

Recently, Canada’s Justin Trudeau ordered top grocery chains in the country to cut prices while admonishing them for making higher profits, insinuating that they are the cause of inflation.  In Canada, profit margins among grocers are actually flat due to rising costs. If one looks only at raw profits without taking into account inflation in producer costs as well as transportation, distribution and wages, then it might look like these companies are pulling in the cash. There is zero evidence to support this claim.

What Trudeau is doing is pretending to be stupid while engaging in a very clever strategy of scapegoating. It’s the government and the central bankers that are the foundational cause of inflation, but by blaming individual business sectors he sets the stage for government enforced price controls. When these fail and create a crisis in supply he will then introduce rationing, and once the government has conditioned the public to accept rationing the elites then control the entire population’s access to food and necessities.

Some people may say “Well that’s Canada, what about the US?” The same agenda is in progress in America, but is being pursued at a city and state level. For example, the socialist Mayor of Chicago, Brandon Johnson, just announced a plan for the city (using state and federal tax funds) to build government run grocery stores in “food deserts.” These are places where a combination of inflation and shoplifting has forced grocers to leave certain areas of the city.

The Chicago program would include price control measures and there’s ample opportunity for these institutions to use rationing in the future. Similar projects are also being considered in other cities across the country. In other words, leftist cities are scaring away businesses while planning to replace “essential services” with government run operations.

I wrote about the inevitability of government rationing after price controls last year in my article ‘The Stagflation Trap Will Lead To Universal Basic Income And Food Rationing.’  Rationing generally comes when price controls fail. It’s been a long time since the US has faced these kinds of conditions but we are likely to in the near future. This time around, I believe that if the establishment is given rationing power they will never let go again.

Rationing could also be used to lure the public into accepting Universal Basic Income (UBI) and Central Bank Digital Currencies (CBDCs).  Government run food centers can easily restrict purchases of goods to a limited list of items, and also demand payment using specific methods (like digital currencies).  In a short period of time, cash would be removed because retailers, pressured by government, will refuse to accept it.

It’s hard to say what the future will bring in terms of politics, given that the next presidential campaign is looking like a complete circus. Historically speaking, though, both Democrat and Republican presidents have tried price controls in the past. Public pressure must be applied (at the state level at minimum) to stop this from happening. As convenient as it might seem to blame producers and distributors, the real threat is coming from governments and banks. We cannot let the people who caused the crisis also benefit from it by giving them even more power.

Ironically, their claim that there is currently “no talk of banning cryptocurrency” hit hard on two levels. First, the need to even state that they’re not talking about it yet means they plan on talking about it in the future. Second, it lines up with theories that the powers-that-be will attempt to piggyback on the popularity of blockchain currencies to force the centralized and fully-controlled digital currencies they want to roll out to the world.

Let’s quickly explain the huge difference between cryptocurrencies like Bitcoin and CBDCs like the upcoming “Digital Dollar.” With cryptocurrencies, there is inherent security and privacy because they are decentralized. They aren’t foolproof but they currently act as a relatively untouchable way to hold wealth, albeit in a volatile environment. CBDCs are, by their very nature, centralized and controlled. They may share similarities from a technological perspective but they are diametrically opposite when it comes to authoritarian control over them.

If the globalists, central banks, and most governments have their way, they will regulate cryptocurrencies, then pull a switcheroo and replace them with Central Bank Digital Currencies.

As reported by Madeleine Hubbard at Just The News:

A global consensus on cryptocurrency regulation is emerging from the G20 Summit in New Delhi, India, officials said Sunday.

Gita Gopinath, the International Monetary Fund’s first deputy managing director, said in a video that the Group of 20, which is currently led by India, “helped shape a global perspective on how policymakers should deal with crypto assets.”

IMF Managing Director Kristalina Georgieva said India led the way in “setting up a road map for crypto regulations,” and that her organization is “contributing to proposals for a comprehensive policy framework.”

Gopinath said that although principles have been agreed upon, “there is no talk of banning cryptocurrencies, indicating a global consensus against such measures,” according to Indian outlet Business Today.

Rather than legalizing cryptocurrency assets like Bitcoin as legal tender, the guidelines suggest creating licensing and registration processes for crypto asset issuers, focusing on treating the activities similarly.

For the last few years, it has been challenging to deny the benefits of cryptocurrencies in their current form. We promote physical gold and silver because they protect wealth in a tangible form, but cryptocurrencies have enjoyed other benefits that have made them smart investments in the eyes of many.

That appears to be changing.

Letting the globalist elite cabal regulate cryptocurrencies is like putting arsonists in charge of the fire department. They are threatened by cryptocurrencies, but their beloved CBDCs can fix it for them.

What are your thoughts? Leave a comment at our Economic Collapse Substack.

The good news is that CBDCs are very unpopular with the slave classes of the world, meaning we have a chance to stop at least this part of the system from worsening. James Corbett of The Corbett Report says that because this type of control is so unappealing to even the most dumbed-down slaves, we have a chance to stop it.

We’re already seeing a massive global pushback against the CBDC agenda, writes Corbett. And this pushback is already causing the banksters to panic and pull back on their grand plan for world domination. Of course, you’re not hearing about this CBDC pushback in the establishment media. Why would they tout their masters’ failures, after all?

If you listen to the pundits in the alternative media, however, you’ll believe that CBDCs not only represent the greatest threat to human freedom in our lifetime, but that they’ll be forced upon us by the evil central bankster overlords in the next year or two (no matter what we do to fend them off).

Do you see the similarities in these two “competing” narratives? In both cases, you and your opinion about CBDCs are utterly irrelevant. It’s a fait accompli. You can love ’em or hate ’em, embrace them or recoil from them, but whatever your position, you will be forced to use them. –James Corbett, The Corbett Report

Corbett says that strangely enough, the alternative media is also not picking up on the masses’ disgust for the slave system. Hopefully, by sharing we can let everyone who understands that government is slavery know that they are not alone. And more people are figuring it out every day.

Sound off about this article on our Economic Collapse Substack. Article cross-posted from SHTF Plan.