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(IMF), Is Preparing to Roll Out Central Bank Digital Currencies…
The global coronavirus pandemic has accelerated several troubling trends already in force. Among them are exponential debt growth, rising dependency on government, and scaled-up central bank interventions into markets and the economy.
Central bankers now appear poised to embark on their biggest power play ever.
Federal Reserve Chairman Jerome Powell, in coordination with the European Central Bank and International Monetary Fund (IMF), is preparing to roll out central bank digital currencies.
The globalist IMF recently called for a new “Bretton Woods Moment” to address the loss of trillions of dollars in global economic output due to the coronavirus.
In the aftermath of World War II, the original Bretton Woods agreement established a world monetary order with the U.S. dollar as the reserve currency.
Importantly, the dollar was to be pegged to the price of gold. Foreign governments and central banks could also redeem their dollar reserves in gold, and they started doing so in earnest in the 1960s and early 1970s.
In 1971, President Richard Nixon closed the gold window, effectively ushering in a new world monetary order based solely on the full faith and credit of the United States. An inflation crisis followed a few years later.
In response, the Federal Reserve took the painful step of jacking up interest rates to defend its wilting Federal Reserve Note and tame rising prices.
Fast forward to 2020, and the Fed has assumed for itself novel policy mandates that are a precursor to a new monetary system.
But the monetary masters aren’t contemplating a return to sound money. Rather, they’re planning for even more debt, more inflation, and picking of winners and losers in the economy.
The Fed has unceremoniously thrown its statutory dual mandate of full employment and stable prices out the window. It now gives itself an unlimited mandate to inject stimulus and bailout cash wherever it sees fit (including, recently, “junk” bond exchange-traded funds).
Instead of pursuing stable prices, the Fed is now explicitly embarking on an inflation-raising campaign with the goal of generating annual price level increases above 2% for an undefined period.
The next frontier of the Fed’s unlimited mandate could be “FedCoin” – a central bank digital currency.
Earlier this month Chairman Powell participated in an IMF panel on international payments and digital currencies. He touted electronic payments systems and raised the possibility of integrating them into a central bank digital currency regime.
Powell has so far declined to outright endorse a move toward a fully cashless system which countries including China and Sweden are spearheading. But he is on board with the larger globalist agenda of expanding the role of monetary policy in shaping economic and social outcomes.
IMF Managing Director Kristalina Georgieva sees expanded monetary tools being aimed at every issue under the sun: “We will have a chance to address some persistent problems – low productivity, slow growth, high inequalities, a looming climate crisis… We can do better than build back the pre-pandemic world – we can build forward to a world that is more resilient, sustainable, and inclusive.”
The IMF is being pressured by debt campaigners to sell some of its gold reserves to cover payments owed by some of the world’s poorest countries. The IMF would issue pseudo-currency units known as Special Drawing Rights (SDRs) to cancel the debts of poor countries.
In a world where central bank balance sheets have grown by more than $7 trillion, it’s not surprising that everyone wants a piece of the pie and that many now view gold as dispensable.
Is gold merely a barbarous relic in this brave new digital world? If it were, then it would have collapsed in price this year, amid all the new central bank rollouts, instead of surging to an all-time high.
Precious metals may be the ultimate hedge against the new world monetary order.
In the event that the U.S. central bank launches a digital dollar and assigns every American a virtual wallet, there would be no escaping adverse monetary policy decrees except by exiting fiat currencies entirely.
Under a central bank digital currency, authorities could impose negative interest rates on all holdings of currency units. They could do so without needing to get anyone to buy negative-yielding bonds or deposit money into negative-yielding bank accounts.
Under a central bank digital currency, direct credits and debits could replace stimulus checks and taxes. It would be the vehicle through which modern monetary theory could be fully implemented – with the central bank becoming tax collector and funder of all government operations.
If depreciating the value of the currency through the inflation tax wasn’t enough, the Fed could also stick dollar-holders with a direct tax in the form of negative interest rates. Once paper notes are phased out, holding cash itself would no longer be a way for individuals to escape negative rates.
The only escape hatches would be volatile alternative digital currencies (such as Bitcoin) or hard money (gold and silver).
Under a monetary order where electronic digits representing currency can be created out of thin air in unlimited quantities, the best hedge is the opposite – tangible, scarce, untraceable wealth held off the financial grid.
The World Is In Big Trouble, for Those That Believe We Will Go Back to Some Sense of Normal Life Here on Earth, You Will Be Sadly Disappointed, Seven Years of Hell on Earth Which Began January 1, 2020
“Our courts oppose the righteous, and justice is nowhere to be found. Truth stumbles in the streets, and honesty has been outlawed” (Isa. 59:14, NLT)…We Turned Our Backs On GOD, Now We Have Been Left To Our Own Devices, Enjoy…
While Mainstream Media Continues to Push a False Narrative, Big Tech Has Keep the Truth From Coming out by Shadow Banning Conservatives, Christians, and Like-Minded People, Those Death Attributed to the Coronavirus Is a Result of Those Mentioned, They Truly Are Evil…
Watchmen does not confuse truth with consensus The Watchmen does not confuse God’s word with the word of those in power…
In police-state fashion, Big Tech took the list of accused (including this site), declared all those named guilty and promptly shadow-banned, de-platformed or de-monetized us all without coming clean about how they engineered the crushing of dissent, Now more than ever big Tech has exposed there hand engaging in devious underhanded tactics to make the sinister look saintly, one of Satan’s greatest weapons happens to be deceit…
The accumulating death toll from Covid-19 can be seen minute-by-minute on cable news channels. But there’s another death toll few seem to care much about: the number of poverty-related deaths being set in motion by deliberately plunging millions of Americans into poverty and despair.
American health care, as we call it today, and for all its high-tech miracles, has evolved into one of the most atrocious rackets the world has ever seen. By racket, I mean an enterprise organized explicitly to make money dishonestly.
All the official reassurances won’t be worth a bucket of warm spit. The Globals are behind the CoronaVirus, It Is a Man-Made Bioweapon.
Let me make this very clear, I have a severe distrust of government. I believe it is the most inefficient and ineffective way to accomplish most things. While I strongly disagree with liberals/progressives on most political issues, and while I believe liberals/progressives are terribly misguided and naïve about what big government will eventually result in, I strive to not question their motives. At the same time, while I find myself in agreement with conservative politicians on some issues, I do not believe electing Republicans is the answer to everything. For me, very sadly, the main difference between Republicans and Democrats is how quickly they want to drive the car towards the cliff.
Everything is right on schedule and, now, the time is come to remove one of the final obstacles standing in the way of a New World Order: The United States Constitution – even if, over the course of many decades, it has already been greatly diminished by the B.E.A.S.T. system; or, more specifically, Bulls*** Emerging As Strategic Totalitarianism (B.E.A.S.T.).
This is what their New World Order looks like, Democrats Lawmaker in California: ‘legalize child prostitution’ SACRAMENTO – Beginning on Jan. 1, police cannot arrest child prostitutes in the streets of California, except under limited circumstances. And dumb down people wonder why California is burning to the ground, poke God in the eyes enough times and his anger will start to show…
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