Watchman: Experimental “Digital Dollar” Is Being Rolled Out by the Federal Reserve Bank of New York, the Beast Come Alive
SRH:
The mark is explicitly associated with the worship of the beast and the rejection of the Lord Jesus in Revelation 13. We are not told exactly what the mark is, other than that it is associated with the beast's name or number, as that which signifies who he is and what he stands for. It is a technique of forcing the world to submit to him as the supreme ruler who opposes God.
The global economic system that we are witnessing today will surely be the tool he will employ to promote his worship and rule. It appears evident that everything we are witnessing today in terms of electronic improvements (the merger of firms into larger and larger conglomerates into massive multinational systems, etc.) will pave the way for this end-time world order. However, even this does not constitute the beast's system.
Thus, the two things—electronic innovation and multinational commercial development—will just be vehicles for Satan to employ. They are not evil in and of themselves. Satan is the master distorter and perverter. He attempts to manipulate whatever might benefit man, such as global trade, for his own malicious schemes and objectives.
Nationalism, as opposed to internationalism, is the biblical model for today, but only as a precaution against the Tower of Babel attitude. Internationalism facilitates the rise and unrestricted power of tyrants. International trade can benefit humanity, but Satan will distort it to his advantage—materialism, a one-world system, and, finally, a one-world dictator.
HNewsWire:
The participants announced on Tuesday that they would begin a 12-week digital dollar trial with the Federal Reserve Bank of New York.
According to a release, Citigroup Inc, HSBC Holdings Plc, Mastercard Inc, and Wells Fargo & Co are among the financial firms taking part in the trial with the New York Fed's innovation center. According to the New York Fed, the regulated liability network initiative will be carried out in a test environment using simulated data.
The trial will see how banks can assist speed up payments by utilizing digital dollar tokens in a shared database. Michelle Neal, head of the New York Fed's market division, said earlier this month that the use of a central bank digital dollar to speed up settlement time in currency markets has potential.
On Tuesday, the regional Federal Reserve bank and almost a dozen financial institutions launched the plan. The effort was described as a "proof-of-concept study" in which the banks would collaborate with the Fed's New York Innovation Center to generate digital money reflecting their own client deposits and settle them using simulated Fed reserves on a distributed ledger.
According to the press release, "the [project] will also examine the feasibility of a programmable digital money architecture that is potentially expandable to other digital assets, as well as the practicality of the proposed system within current laws and regulations."
The announcement comes at a time when bitcoin and blockchain technologies have risen to prominence in the mainstream financial sector. While the flagship cryptocurrency bitcoin peaked a year ago and has since plummeted, the technology behind such tokens has piqued the curiosity of not just private financial institutions but also central banks throughout the world.
The Fed took a first step toward considering the deployment of a central bank digital currency in January, when it issued its much-anticipated discussion paper and launched a four-month public comment period to solicit feedback.
According to the study, a CBDC could expedite cross-border transfers and further codify and protect the dollar's worldwide supremacy, including as the world's reserve currency.
The results of the new pilot project will be released after the 12-week test period ends, and the Fed has stated that the experiment is not intended to advance any specific policy outcome or to imply that the Fed intends to make any major decisions about a central bank digital currency in the near future.
Nonetheless, the effort is expected to thrill supporters of a digital dollar since it demonstrates that the central bank is interested in the notion enough to collaborate with commercial banks and conduct feasibility testing. Nonetheless, skeptics have argued that a government-maintained digital money might lead to a loss of privacy.
"As money and banking develop, the NYIC looks forward to engaging with members of the banking industry to promote research on asset tokenization and the future of financial market infrastructures in the United States," said Per von Zelowitz, director of the New York Innovation Center.
SRH: “We are going to go from ‘Dirty Cash to Digital Trash,’ which is also the title of the current Trends Journal. They’ve got people freaked out. They are going to give us digital trash. That’s what they are doing. They are going to get rid of the currencies that you have.” THE MARK OF THE BEAST…
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