The Elitist, the Elected Tyrants Anticipate Victory and If Some Congress Members

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Get Their Way the Federal Reserve May Soon Be Able to Track Many of Your Purchases in Real Time, the Tribulations Are the Manifestation of Ungodliness…

If some Congress members get their way, the Federal Reserve may soon be able to track many of your purchases in real time and share that information with government agencies. This is just one of the problems with the proposed “digital dollar” or “fedcoin.”

Fedcoin was initially included in the first coronavirus spending bill. While the proposal was dropped from the final version of the bill, there is still great interest in fedcoin on Capitol Hill. Some progressives have embraced fedcoin as a way to provide Americans with a “universal basic income.”

Both the Senate Banking Committee and the House Financial Services Committee held hearings on fedcoin in June. This is the first step toward making fedcoin a reality.

  • Fedcoin would not be an actual coin. Instead, it would be a special account created and maintained for each American by the Federal Reserve. Each month, Fed employees could tap a few keys on a computer and — voila — each American would have dollars added to his Federal Reserve account. This is the 21st century equivalent of throwing money from helicopters.
  • Fedcoin could “crowd out” private cryptocurrencies. Also, it would limit the ability of private citizens to protect themselves from the Federal Reserve-caused decline in the dollar’s value.
  • Fedcoin would not magically increase the number of available goods and services. What it would do is drive up prices. The damage this would do to middle- and lower-income Americans would dwarf any benefit they receive from their monthly “gift” from the Fed. The rise in prices could lead to Congress regularly increasing fedcoin payments to Americans. These increases would cause prices to keep rising even more until we face hyperinflation and a dollar crisis. Of course, we are already on the path to an economic crisis thanks to the Fed. Fedcoin will hasten and worsen the crisis.
  • Fedcoin poses a great threat to privacy. The Federal Reserve could know when fedcoin is used, who is using it, and what they use it for. This information could be shared with government agencies, such as the FBI or IRS.

The government could use the ability to know how Americans are spending fedcoin to limit our ability to purchase goods and services disfavored by politicians and bureaucrats. Anyone who doubts this should recall the Obama administration’s Operation Choke Point. Operation Choke Point involved financial regulators “alerting” banks that dealing with certain businesses, such as gun stores, would put the banks at “reputational risk” and could subject them to greater regulation.

Is it so hard to believe that the ability to track purchases would be used in the future to “discourage” individuals from buying guns, fatty foods, or tobacco, or from being customers of corporations whose CEOs are not considered “woke” by the thought police? Fedcoin could also be used to “encourage” individuals to patronize “green” business, thus fulfilling Fed Chair Jerome Powell’s goal of involving the Fed in the fight against climate change.

Fedcoin will threaten private cryptocurrencies, increase inflation, and give government new powers over our financial transactions. Fedcoin will also speed up destruction of the fiat money system. Whatever gain fedcoin may bring to average Americans will come at terrible cost to liberty and prosperity.

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, Bullshit Emerging As Strategic Totalitarianism (B.E.A.S.T.).

The Future of Digital Money - McKoysNews.com

As confirmed by several economic outlets, including Bloomberg, Bank of England governor Andrew Bailey took part in a VTALK with students this past Monday for Speakers for Schools. When the subject of digital currency came up, Bailey said:

We are looking at the question of, should we create a Bank of England digital currency. We’ll go on looking at it, as it does have huge implications on the nature of payments and society. I think in a few years, we will be heading toward some digital currency.

The digital currency issue will be a huge issue. I hope it is because that means Covid will be behind us.

While only a short quote, there are several strands to pick up on here.

Firstly, Bailey stating that the BOE is looking into creating a CBDC is not a new revelation. I posted a series of articles in May which looked extensively at a discussion paper published by the bank days before the Covid-19 lockdown was enforced. The paper, ‘Central Bank Digital Currency – Opportunities, challenges and design, ‘went as far as detailing the possible technological composition of a future CBDC. It was in 2014 when the BOE first began discussing digital currencies in their September quarterly bulletin. Six years on, those discussions have advanced notably.

Secondly, if Bailey’s assertion is correct that ‘in a few years time, we will be heading toward some sort of digital currency, ‘this would align with the BOE’s Real Time Gross Settlement renewal program. In August 2019, I posted an article that outlined what the renewal will consist of (Working in Tandem: The Reform of Payment Systems and the Advance of Digital Technology). From 2023 onwards, the bank wants renewed services of RTGS to begin coming online, and by 2025 for it to be fully rolled out and operational.

Consider that this is taking place amidst the Bank for International Settlements ‘Innovation BIS 2025‘ initiative, which I have regularly written about. This is the ‘hub‘ which brings all leading central banks together in the name of technological innovation.

The RTGS ‘renewal‘ will allow the bank’s payment system to ‘interface with new payment technologies,’ which given the information that the BOE has so far disseminated would likely include distributed ledger technology and blockchain.

For the bank to introduce a CBDC accessible to the public, they will require the reformation of their systems, which is precisely what is happening.

Thirdly, Bailey admits that introducing a CBDC would have ‘huge implications on the nature of payments and society. ‘ On the payments front, the BOE is pushing the narrative that any CBDC offering would be a ‘complement‘ to cash. It would not, according to them, mean that money would be withdrawn from circulation. But as I have noted previously, the General Manager of the BIS, Agustin Carstens, made clear in 2019 that in a CBDC world ‘he or she would no longer have the option of paying cash. All purchases would be electronic.

The trend of digital payments outstripping cash has been present for several years now. My position is that instead of merely outlawing cash, the state will allow the use of banknotes to fall to the point that the servicing costs of maintaining the cash infrastructure outweigh the amount of money still in circulation and being used for payment. They will take a gradual approach, as opposed to prising cash away from the public. In the end, it has the same effect but appears less premeditated. From the perspective of the state, it is much more desirable if people are seen to have decided to stop using cash, rather than the state imposing it upon the population.

The societal aspect is as severe because those who depend on using cash are finding that access to it is growing more restrictive. I have also posted this about (Access to Cash: The Connection between Bank Branch Closures and the Post Office). In particular, rural communities are being compromised, with some entirely dependent on their local post office to withdraw funds. Matters are made worse when the Post Office network itself is coming under increasing strain.

It was also revealed this week that during the Covid-19 lockdown, over 7,000 ATMs across the UK were closed due to social distancing measures. This represents over 10% of the UK’s ATM network. Some of these ATMs remain out of use, particularly at supermarkets and outside individual bank branches. Equally, some of these branches remain closed four months after the lockdown was introduced, and those that are open are only allowing in a couple of people at a time.

You will recall the hysteria around the supposed dangers of using cash as Covid-19 was labeled a pandemic. On no scientific basis whatsoever, people have been led to believe that handling money can transmit the virus. This is primarily why cash withdrawals at ATM’s crashed leading into the lockdown by around 50%. This time last year, transaction volume was at 50.9 million. Today it is 30.8 million, a 40% drop. From personal experience as a cash office clerk, cash use is now beginning to pick up but remains well below pre-lockdown levels.

Finally, Bailey commented that he hoped ‘the digital currency issue will be a very big issue‘because if it were, it would mean that ‘Covid will be behind us.‘ A valid question to ask is why, when Covid-19 is ‘behind us, ‘should that make a CBDC stronger? The answer lies partly in the growing narrative of life after the pandemic, which plays directly into the World Economic Forum devised ‘Great Reset‘ agenda. Part of the ‘Great Reset‘ includes Blockchain, Financial and Monetary Systems, and Digital Economy and New Value Creation.

At first glance, you can see how Covid-19 benefits the drive towards central bank digital currencies.

We are told at every turn that life cannot possibly go back to how it was pre coronavirus, including our relationship with money. Predictably, it did not take global institutions like the BIS long to begin reaffirming the cashless agenda. In April they published a bulletin called, ‘Covid-19, cash, and the future of payments‘ where they stated:

In the context of the current crisis, CBDC would, in particular, have to be designed, allowing for access options for the unbanked and (contact-free) technical interfaces suitable for the whole population. The pandemic may hence put calls for CBDCs into sharper focus, highlighting the value of having access to various means of payments, and the need for any means of cash to be resilient against a broad range of threats.

Global planners are seizing on the opportunity that Covid-19 has created. But no one should be deceived into thinking that their prescription for a digital monetary system, with CBDC’s at the center, is only coming to light because of the pandemic. This has been in the works for years.

The banking elites hope that once global payment systems have been reformed, CBDC’s will not be far behind. Judging by their timelines, by 2025, a worldwide network of CBDC’s is a real possibility. The more people that turn away from using cash today, the easier the transition away from tangible assets will prove for those who are angling for it to happen.

Central Bank Digital Currencies: A Revolution in Banking ...
Digital Currency

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 and Half 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…

Source: HNewsWire ZeroHedge HNewsWire

StevieRay Hansen
Editor, HNewsWire.com
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.

For those of you who care, Google and your favorite social media platforms have misled you, and now we all pay a heavy price for trusting the ungodly, Google and company, They knew exactly what they were doing, removing our history while preparing you to accept the New World Order playbook, Enjoy.

The 127 Faith Foundation understands the pain and sorrow associated with being a throwaway child, We push this throwaway child towards bettering their education, be it junior-college are going for a Masters’s degree. This program is about them because they determine by the grace of God if they’re going to be a pillar in the community or a burden on society. Some of the strongholds orphans deal with are: fear, resentment, bitterness, unforgiveness, apathy, unbelief, depression, anxiety, lust, anger, pride, and greed. Many of these strongholds do open the door to addiction. Please Help The 127 https://www.the127.org/

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