The core problems of Central Bank Digital Currencies (CBDCs) have been addressed many times here, but it may bear repeating these two facts – First, in a cashless society all privacy in trade is lost, and second, banks and governments will control access to all of your money. If such a system is allowed, it will act as a major stepping stone to technocratic authoritarianism. It’s inevitable. The Australian government and central bank have been involved in a beta test for the past year with the proliferation of CBDCs in mind. Their partnership projects with the Bank for International Settlements and pilot programs with companies like Mastercard are about to wrap up this fall, and it looks as though Aussie bureaucrats are planning to implement their cashless system very quickly after the trial run is finished. In defense of…
“But what was already ready around 2015, is the ultimate goal – what they really want, apparently, I was told by a Central Banker – is CBDC looks like a small grain of rice that they want to put under your skin, which is my view a violation of human dignity. And they realize there is a hurdle to get people to accept this.”
Economics Professor Richard Werner, the man who introduced the economic philosophy of “Quantitative Easing” (QE1 and QE2), recently dropped a bombshell of information regarding the future of commerce and money, and how central banks are working to usher it in.
Prof. Werner has directly worked with central bankers to discuss policy and monetary action, and is a bestselling author who has predicted a lot of the problems world economies face today, and was even honored as a “Global Leader for Tomorrow” in 2003 by the World Economic Forum.
Two weeks ago Werner was a keynote speaker and guest at the annual Amsterdam Science Summit, where interviewer Ivor Cummins caught up with him to discuss the future and potential outcomes for local and global finance.
Werner explained his practices that he created, though gets little to no actual credit for, QE1 and QE2, and what they are designed to do, but how the central banks have used them improperly which has caused massive amounts of inflation on purpose.
Investopedia explains what both principles are designed to do, but basically QE1, the central bank steps in and purchases the non-performing assets in the banking system. The central bank then buys up non-performing assets at face value and the problem should resolve itself and creates a stronger balance sheet; but this practice does not do enough increase credit.
In comes QE2 which allows for central banks to vastly expand the money supply and force it into the economy. The Federal Reserve deployed this in the years following the Great Recession in 2008. The bank would therefore buy tons of assets not in the banking sector. The revenue the non-bank sectors received from the purchase of these assets would then be deposited into the seller’s bank account. “That’s how central banks can push money into the economy directly,” Werner explained, when an economy is dealing with deflation. Of course, as Werner explains, these policies have not been properly used.
‘The policy is not without its critics. Some economists note that previous easing measures have lowered rates but done relatively little to increase lending. With the Fed buying securities with money that it has essentially created out of thin air, many also believe it leaves the economy vulnerable to out-of-control inflation once the economy fully recovers,’ Investopedia wrote, commenting on QE philosophy.
Nevertheless, after years of rounds of QE since the fallout from 2008, central banks around the world in 2020 once again injected massive amounts of capitol into the economy, including massive inflating of their balance and asset sheets; which, only created massive amounts of inflation that world economies are struggling with right now.
Additionally, it’s worth reminding (Werner did not directly say this), but this was coupled with world economies being forced to grind to a standstill, and not allowed to truly be allowed to get back on their feet again for at least a solid 2 years globally, save nations like China who openly ramped it up even tighter. Fed President James Bullard explicitly said in March, 2020, that was a “planned, organized, partial shutdown of the economy.”
Werner says this was done intentionally to purposefully create inflation, which in turn would cause central banks to combat this with their new solution: CBDCs, which Werner says is purely all about control. Technically speaking, according to him, the world has been transacting in “bank digital currencies” (BDCs), but the real danger comes when a central bank looks to consolidate that into a CBDC.
You have to think of CDBCs as a control system [or a permit system], not a currency.
It’s a conditional currency based on you actually getting that permit. Now, if you happen to be some kind of critic of government policy or a critic of central banks this could be difficult.
Or if you dare to step out of the 15-minute city zone, you know, maybe you’ll find that: ‘Oh [my CBDC is] not working’. Of course, these are things we’ve seen already in China. There’s plenty of videos where somebody tries to use it to buy a ticket and it doesn’t work because his social credit scores are low.
Furthermore, Werner explains that times of high inflation are designed to act as catalysts to usher in the next phase of control, such as the case in the 70’s with rocket-high inflation used to decouple from a gold and precious metal-backed system to the petrodollar, and now with inflation being used as the proxy to coverup the transition from the petrodollar to CBDCs.
To prove that this action was deliberate on the part of central banks, Werner said,
Just before covid in August 2019, there was a conference in Jackson Hole of the annual Central Bankers conference but it invited BlackRock the big asset manager, and BlackRock made a proposal, they said ‘there will be another crisis, but this time we should create inflation’.
They never explain why, they just say we must create inflation, and here’s how we’re going to do it and they cited my proposal without mentioning my name, of course.
What Werner says is the truth: BlackRock directly calls for massive inflation creation to jumpstart the change, and even makes an illusion to CBDCs as the solution before that acronym was coined; in a document titled “Dealing with the next downturn: From unconventional monetary policy to unprecedented policy coordination.” From the opening paragraph BlackRock writes this:
Unprecedented policies will be needed to respond to the next economic downturn. Monetary policy is almost exhausted as global interest rates plunge towards zero or below. Fiscal policy on its own will struggle to provide major stimulus in a timely fashion given high debt levels and the typical lags with implementation.
Without a clear framework in place, policymakers will inevitably find themselves blurring the boundaries between fiscal and monetary policies. This threatens the hard-won credibility of policy institutions and could open the door to uncontrolled fiscal spending.
This paper outlines the contours of a framework to mitigate this risk so as to enable an unprecedented coordination through a monetary-financed fiscal facility. Activated, funded and closed by the central bank to achieve an explicit inflation objective, the facility would be deployed by the fiscal authority
An extreme form of “going direct” would be an explicit and permanent monetary financing of a fiscal expansion, or so-called helicopter money. Explicit monetary financing in sufficient size will push up inflation. Without explicit boundaries, however, it would undermine institutional credibility and could lead to uncontrolled fiscal spending.
For example, policy innovations in the next downturn will likely need to take inequality more directly into account to be politically palatable. Not all asset purchase programmes are born equal when it comes to their impact on inequality. Policy responses that put money more directly in the hands of citizens might be more attractive. The rise of central bank-issued electronic money (not cryptocurrencies) might achieve these objectives in ways that were not previously possible.
BlackRock wrote in August, 2019
Investopedia says that ‘Some could argue that the Fed’s stimulus measures in response to the COVID-19 pandemic and the resulting recession could be considered helicopter drop money. In response to the economic hardship facing the United States, the Fed took unprecedented steps to stabilize the financial markets and the banking system as well as provide direct support to small businesses. The result was an injection of trillions of dollars into the U.S. economy.’
You can download/read the whole document below:
Getting back to the interview, Werner further addressed BlackRock’s role in all of this, and how the Federal Reserve directly contracted them to buy up more assets.
And, there’s one more factor, the Federal Reserve hired Blackrock in March 2020 to buy assets – QE was for a deflationary situation but the way they were using it had to cause inflation, there was no doubt. And they knew it because they even said it.
So, this [current] inflation is entirely intentionally created by the central banks, by the central planners. So how are we going to punish them for this? ‘Oh, let’s give them more powers, let’s give them unprecedented powers over everything, over life on Earth through central bank digital currencies.
The true reason I think why they wanted this inflation because that is to cover up, essentially, the disintegration of the petrodollar and move to the new system which they want to be CBDC based.
To conclude the interview, Werner explained that the plans and technology for CBDCs have been around since 2015, but implementing it has been very slow and steady, because the “central planners” must get this right and have it perfected, waiting for the right time to introduce and enforce them; and so in order for the public to accept, all kinds of crises and catastrophes have to be created to justify the change.
According to him from contacts on the inside from central bankers, they want to introduce a small microchip the size of rice and implement that into people, and then the CBDCs can be remotely added to the chip.
But what was already ready around 2015, is the ultimate goal – what they really want, apparently, I was told by a Central Banker – is CBDC looks like a small grain of rice that they want to put under your skin, which is my view a violation of human dignity. And they realize there is a hurdle to get people to accept this.
You will get 2 000 Euros into your account every month. But of course, to run this efficiently [they’ll say:] ‘We need to use the latest technology so you need the CBDC chip implant.’
But before this can happen, Werner said earlier in the interview that digital IDs will be needed to be imposed first, and Werner surmises that The Covid War and the vaccines and the passport were implemented to justify interlinked digital identification.
There is an argument to be made, and that is the entire Covid scam may have been run in order just to prepare things for the CBDCs and the real goal, or the big prize to them, [are] the CBDCs.
There is one step before then: they need digital IDs.
Werner explained, referencing the vaccine passports that did not make sense, he said, and how that framework is now being used as the basis for the new digital IDs and global health passports; for which they and the CBDCs will be interlinked, he said.
I HIGHLY recommend you listen to this interview. It’s chock-full of great information and insights, so dedicate some time to it.
Readers who follow this site understand this is where it is all heading, and what Werner detailed confirms a lot of what we’ve been reading and discussing. The plan is so obvious when you look at it in retrospect, and how it’s being spelled out in broad daylight for all to see.
Some of you may remember that in January, 2021, I wrote a piece titled “The REAL Reason Sweden Did Not Lockdown,” which I noted and detailed how Sweden was on the cutting edge of biometrics and microchip implants, and already nearing a cashless economy; and so therefore an actual lockdown of Sweden was not really all that necessary, whereas the rest of the world needed to be caught up quickly. Werner has basically confirmed that theory.
And now we sit it everywhere: nations are coming out with digital IDs and CBDCs at lightning speeds. I write about it frequently, but I cannot keep up with it, so I try to hit the objectively more insightful ones.
And people WILL accept it, we talk about it all the time. The world economies are about ready to collapse, at the central banks’ choosing, and when the fallout occurs and the people are desperate for help, they’ll capitulate super fast.
And then of course what Werner revealed about the CBDCs and microchipping is -*cough cough* – written of in scripture, prophesized approximately 2,000 years ago.
 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:  And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.  Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.Revelation 13:16-18
However, I have said that the mark of the beast will be more than a microchip, when you consider what these elites and technocrats are working to create in this 6G environment, with smart phones, for example, being programmed into people.
But, as Werner also revealed, “they” have had this tech ready to go for a while now but keep putting it off to make sure the timing is right, and all is in place. Here’s why:
 And now ye know what withholdeth that he might be revealed in his time.  For the mystery of iniquity doth already work: only he who now letteth will let, until he be taken out of the way.  And then shall that Wicked be revealed, whom the Lord shall consume with the spirit of his mouth, and shall destroy with the brightness of his coming:
2 Thessalonians 2:6-8
The Holy Spirit is preventing from happening because the body of Christ is still here, and the beast system cannot come in until then. However, as I have said, I still think we still have a little ways to go yet, however long that is. Until then, we must keep fighting and warning people.
 Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock?  Say I these things as a man? or saith not the law the same also?  For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen?  Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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