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Editor’s Note: I’m not one to say “I told you so” but many have lambasted me in recent months for predicting this would happen. They said I was just trying to scare people into moving their wealth or retirement to precious metals. In many ways I technically was, but not for the sake of fearmongering or self-promotion. I am completely convinced this is the right way to go, which can be verified by the fact that I did NOT accept precious metals sponsors until last year. I didn’t buy into them during the Trump era because they weren’t necessary. Today, they definitely are. Here are the details about the plans unfolding before us by Tyler Durden at Zero Hedge…
Never let a crisis go to waste. Or a market crash for that matter.
With equity and bond markets stuck in brutal bear markets and providing a sufficient distraction to what is happening behind the scenes, the Fed and a group of banks have been quietly preparing for the next stage in the “organized crash” pipeline: the rollout of CBSC.
According to a statement by the New York Fed, global banking giants are starting a 12-week digital dollar pilot with the Federal Reserve Bank of New York, the participants announced on Tuesday.
Citigroup, HSBC Holdings, Mastercard and Wells Fargo are among the financial companies participating in the experiment alongside the New York Fed, which will provide a “public contribution to the body of knowledge on the application of new technology to the regulated financial system.”
Bank of New York Mellon, the money-laundering bank of the world, HSBC Holdings, PNC Financial Services, Toronto-Dominion Bank, Truist Financial and U.S. Bancorp are also participating in the test, along with payments network Mastercard.
The project, which is called the “regulated liability network”, will allow banks to simulate issuing digital money representing their customers’ own funds before settling through central bank reserves on a distributed ledger, the New York Fed said.
The pilot will test how banks using digital dollar tokens in a common database can help speed up payments.
“Programmable US dollars may be necessary to support new business models and provide a foundation to much-needed innovations in financial settlements and infrastructure,” Tony McLaughlin, managing director for emerging payments and business development at Citigroup’s treasury and trade solutions division, said in a statement Tuesday. “Projects like this, that focus on the digitization of central bank money and individual bank deposits, could be expanded to take a broader view of the opportunity.”
Earlier this month, Michelle Neal, head of the New York Fed’s market’s group, said it sees promise in using a central bank digital dollar (CBDC) to speed up settlement time in currency markets.
For years, Wall Street’s biggest banks have explored the use of blockchain in their businesses for everything from interbank payments to mortgages and cross-border trades. Still, this week’s move comes amid a rout in cryptocurrency markets following the collapse of Sam Bankman-Fried’s digital-asset empire last week.
In addition to weighing central bank digital currencies and compliant stablecoins, “there should be the option of leveraging the scale and economic value of bank deposits,” Raj Dhamodharan, Mastercard’s head of crypto and blockchain, said in the statement. The regulated liability network “is an innovative proof of concept led by the industry that could help shape how consumers and businesses view the credibility of token-based payments.”
The new network is meant to follow existing laws and regulations for deposit-based payments processing, including anti-money-laundering requirements. After the 12-week test, the banks will publicize the results, they said in a statement, though lenders “are not committed to any future phases of work” once the test is complete.
While the initial work will focus on simulating digital money issued by regulated institutions in US dollars, the concept could be extended to multicurrency operations and stablecoins, which are typically backed one-to-one by another asset such as the dollar or euro.
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Nope. We don’t want your carbon credit/government compliance EBT cards.
Refuse it right now, or be enslaved by it later.
It’s just one step closer to you being chipped. You think I’m wrong? Hold that thought.
Notice I said ‘you’ and not ‘us’. Me? I’m not playing along. They’ll come and remove me from society eventually for not being an eager beaver for the chip. And, you say you won’t be chipped, either. OK, great, that makes you one of the 0.0001% that will really end their lives all in the name of not being chipped. All I’m saying is the odds are very great you have no idea how difficult it will be to refuse and never comply. It’s gonna cost you everything not to comply; everything.
Regarding the link in the website section, that’s not mine. I just like the video.
Dont call it a digital dollar. it is a corporate coupon, like a company store, where you need their permission to use them.
Sure. So Big Bro can devalue all my savings for “wrong think” to zero.
Only a fool would give Big Brother that sort of control
Cash is king. Digital means traceable. When someone is buying or Bribing a congressman or Senator, No one wants money that can be traced.
Um, can we get a block chain system to assure our votes were tallied as cast, while maintaining privacy?
And we’ll keep our cash, and we’ll skip the ESG and digital social credit score nonsense.
Enough change to last a lifetime already. STOP. HARD STOP.
It’s a sad state of affairs how easily led the humans are of late. When we refused to chip our doggie, just about everyone has this instant programmed response of why, alongside their regurgitated spoon fed talking points such as; what if he runs away, you’ll never find him again, and health benefits or some such nonsense.
My response: We don’t want this dog to live forever. I give him every opportunity to run away but he never leaves. He’s available free of charge for adoption if you’d like an aggressive under confident pure bred border collie whom has bitten no less than 3 people, but is very defensive of his family. He’s house trained but is not allowed inside, as the little bastard never cleans himself adequately. And most importantly; Well, we don’t want chips in our bodies, so why would we put them in our family pet?
People just don’t get it though, how the lines and norms of society are moved not up front, but in the back ground and side lines.
We said no to microchips, and we meant it. We said no to vaccines, and we meant it. We said no to wireless, and we meant it. We said no to spyware, and we meant it. No means no, and it does not mean anything else.
Your projections of .0001% of the people being willing to object to forced microchipping is representative of a defeatist attitude. Toughen up and be a leader instead of a defeatist. Take my inalienable rights away and guess what happens; I still have inalienable rights. Shut the doors on innocent regular people and watch them flood in through every window and back door. They could not keep people out of malls or restaurants with the flimsy vaccine passport. They certainly won’t keep us out of grocery stores or general society with their stupid microchip programs.
Imagine a rogue squad of humans who committed their every waking moment and ounce of energy to taking down the surveillance systems, the chip scanners, the sniffers, the stinger cell tech, street cams, just all of it. Remember how flimsy the tech is. Glass etcher can be placed in paint balls. It can be used on readers and scanners. Signal jammers can be constructed out of literally old computer trash from 30 years ago. Learn to build a clock or whatever you need to do. Remember, saying no ahead of time is a more effective less energy resource draining approach to mitigating tyranny.
Just for starters, ditch the alexa, the ring doorbell, the smart thermostat, all smart devices and appliances, and unnecessary mobile tech. Try going at least one day a week with absolutely no commercial advertisement exposure. If you’re surfing without ad block u block privacy badger, anti finger print, and S&D, you’re doing it wrong.
Stupid inanimate objects, remember that’s all those silly chips and cameras are. How much resonating frequency at what specific level would it take to make someones lame ass microchip fry out underneath those few porus layers of subdermal biological skin material? What would it take to capture the key via open air sniffing and then recode a mock chip with the same signal? Biometric security is one of the least secure methods possible, because once you lose it, you never are in control again, and there is absolutely no possibility of setting a new code, because the code is the established human itself.
The hand id chip is nothing more than a hex key in a new novel medium form, not that much different than a programmable credit card strip or identification chip, not that much different than the chips already present in your auto key and ignition switch. For every technological capability, there is already an established counter. Orwells Revenge is not as close as the technocrats would fool the general public into believing. One interesting simple method is to simply stick gum on any cameras which may be annoyingly close to your face. Like we refuse all self check out because we don’t appreciate our grocery shopping experience to resemble a prison complex waiting line. They can take all the damned cameras and shove them were the sun does not shine. Lookie here at these $2 mini wire clippers I always keep on hand…
Yes, exactly. This is why the digital roll out is not quite going as expected. Power players all thought they were just getting their own crooked game on in the back ground, but have subsequently learned they’re not the only crooks in town. In fact, many have studied this matter, coming to the unfortunate realization that the global criminal cartels are in fact, driving more dollars than entire economies of the civilized world. Crime is bigger than the worlds gdp, get your mind around the scale of corruption, it’s everywhere.
It’s a big club, and you ain’t in it. You and I are not in the big club.
Yet not a single one of those controlled opposition sites (covert fake news) could report that Saule Omarova was a major promoter of CBDC and why she is a fave of the Peterson Institute, originally founded by David Rockefeller and his minion, Peter G. Peterson (both now deceased, but Bill Gates, George Soros and Kissinger carry on)!
(Omarova was the recently rejected OCC nominee!)
https://sithhc.files.wordpress.com/2014/05/rockefeller-new-york-times-august-10-1973-china-mao1.png
“The social experiment in China under Chairman Mao’s leadership is one of the most important and successful in human history.”
—— David Rockefeller