What are central bank digital currencies? A guide to the globalists' attack on money



Central bank digital currencies are digital forms of fiat money, issued and regulated by a country's central bank. Unlike decentralized cryptocurrencies like Bitcoin, CBDCs are centralized and fully under the control of the issuing government. Currently, around 97% of all money is circulated digitally; however, the danger with purely digital CBDC compared to traditional dollars is it could be directly controlled by the Fed. The Fed would have the ability to turn off your money.

In financial circles, CBDCs are being talked about as an inevitability. Twenty-nine countries have already implemented CBDCs or pilot programs, including China, India, Nigeria, Jamaica, the Bahamas, UAE, Australia, Singapore, and Thailand, with 114 more exploring them. Here in the U.S., the Federal Reserve and the Biden administration have been actively investigating the possibility of implementing a “digital dollar.” Even the Bank of America has declared that CBDCs are “the future of money.”

But if you’re not in finance and you’ve heard of this technology, it’s probably because you’ve seen dark warnings about the prospect of CBDC-enabled digital tyranny from crypto enthusiasts or from your MAGA uncle on Facebook. Conservative politicians like Ted Cruz and Ron DeSantis are pushing to outlaw CBDCs, and as justification for their proposed ban, they cite apocalyptic scenarios that sound straight out of an InfoWars clip.

Summary of CBDCs and potential risks

  • The appeal of CBDCs for technocrats is unprecedented control over the money supply – it’s “programmable money” that can be tracked and restricted. The alleged benefits to ordinary citizens are far vaguer.
  • CBDCs may or may not be blockchain-based. Multiple schemes are being floated.
  • It is possible to create a CBDC that’s every bit as privacy-preserving as paper cash, but oddly enough, the authorities don’t seem enthused about this option.
  • Much of the really negative stuff you’ve heard about CBDCs – the Book of Revelation-sounding stuff – is well sourced and based on non-exaggerated readings of statements from monetary authorities.
  • In places where CBDCs have been tried so far, the results are not promising.

The official CBDC pitch and the downside

CBDCs are often thought of as cryptocurrencies like Bitcoin but controlled by a central bank. That’s probably close enough to a definition for most people, but it isn’t quite accurate.

Unlike distributed cryptocurrencies like Bitcoin, CBDCs are centrally issued and more like NFTs minted on Ethereum. They may or may not be based on blockchain technology, but all new funds are created by a central bank, not by a distributed network of miners.

In all of the hype and discussion about CBDCs, their proponents haven’t done a great job explaining the supposed benefits of this idea. Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, went on a rant about this.

“I keep asking anybody, anybody at the Fed or outside the Fed, to explain to me what problem this is solving. I can send anybody in this room $5 with Venmo right now. So what is it that a CBDC could do that Venmo can’t do? And all I get is a bunch of hand-waving,” Kashkari said in a video.

If the benefits are small, the risks are terrifying. Here’s a simple breakdown of some of the dangers.

Complete financial surveillance: With CBDCs, governments could potentially monitor all transactions in real time. This level of surveillance could be used to track and control citizens' spending and financial activities, leading to a loss of financial privacy.

Censorship and control over transactions: Governments could have the ability to block or reverse transactions they deem undesirable. This power could be used to suppress dissent by cutting off funding to opposition groups or individuals.

Social credit systems: CBDCs could be integrated with social credit systems, where citizens' financial capabilities are linked to their social behavior. This could lead to a scenario where certain behaviors are financially penalized or rewarded, manipulating social and economic behaviors.

Direct access to personal accounts: Governments could have the ability to freeze or confiscate digital assets directly, without the need for intermediaries like banks. This could be used as a tool for political repression.

Mandatory participation: A shift to a purely digital currency could mean that participation in the financial system is conditional on government approval. Non-compliance with certain rules could lead to exclusion from the economy.

Elimination of anonymous transactions: The use of physical cash allows for anonymous transactions. A move to a fully digital currency would eliminate this possibility, giving the government insight into even the smallest transactions.

Dependence on state infrastructure: Dependence on government-run digital platforms for all financial transactions increases the population's vulnerability to state decisions and potential system failures.

Programmable currency: CBDCs could be designed to be programmable, meaning the government could place conditions on how, when, and where money is spent, leading to direct control over economic behavior.

Surely CBDCs can’t possibly be as bad as the critics say, right? The reality is they are much worse. Return conducted an in-depth investigation this year. We found quotes from people in the Fed, the IMF, and the WEF, bragging about the power they’ll have once they implement CBDCs. Stay tuned to Return in 2024; we’re going to be covering this move closely.

Congressional Democrats call for totalitarian central bank digital currencies and digital ID



During a meeting of the House Financial Services Committee this month, government officials discussed developments in digital identity technologies and central bank digital currencies. These technologies are terrifying to civil liberty advocates because of their potential to turbocharge government oversight and surveillance capabilities.

Democrat legislators expressed support for these surveillance tools while decrying legislative efforts aimed at halting the progress of CBDCs.

Digital IDs, in particular, received strong support from Rep. Bill Foster of Illinois. He endorsed them to be enforced to protect against artificial intelligence, whatever that means. Additionally, he commended the digital ID systems implemented in countries like India, Estonia, and Korea for their ability to police the web.

“A secure digital ID biometrically synced to your smartphone allows individuals to remotely verify that they are who they say they are, saving costs, reducing the likelihood of fraud, and to allow individuals to defend themselves against deepfake identity fraud,” Foster said.

Foster asked about the benefits of having digital IDs during the COVID-19 pandemic and their usefulness in online transactions. While fawning over India's digital ID system, he failed to address the various controversies associated with it, such as significant privacy concerns, financial exclusion for non-participants, and the implementation of mandatory digital ID checks in certain sectors.

Hearing Entitled: Fostering Financial Innovation: How Agencies Can Leverage Technology to Shape...youtu.be

Foster described the digital ID systems in India, Estonia, and Korea as voluntary, highlighting that these countries offer secure digital identification.

However, he’s lying, as the digital ID is not optional in Estonia. From birth, Estonian citizens are integrated into the system with an assigned identity code.

Charles Vice, the director of financial technology and access at the National Credit Union Administration, informed the committee that the NCUA is exploring digital ID technology. He mentioned that several credit unions have already initiated pilot programs for digital ID and spoke positively about the introduction of mobile digital driver's licenses in various U.S. states.

Democrat Rep. Stephen Lynch of Massachusetts shifted the committee's discussion to central bank digital currencies, emphasizing the importance of the United States not lagging behind other nations in CBDC development. If China does something, then we must follow suit, I guess.

With a straight face, he expressed frustration that some of his colleagues on the subcommittee support legislation that would halt CBDC development. Rep. Lynch failed to articulate the myriad of reasons why many are concerned about implementing CBDCs.

Critics of CBDCs, including lawmakers advocating against CBDC-focused bills, argue that such currencies could lead to increased surveillance of financial transactions and potentially enable the control of consumer purchasing choices.

Republican Rep. Warren Davidson of Ohio approached the topic of CBDCs with skepticism during his questioning of Michael S. Gibson, director of the division of supervision and regulation at the Federal Reserve. Davidson's concerns centered on the hiring efforts of the San Francisco and Boston Federal Reserve Banks for CBDC development roles. He pressed Gibson for clarity on the Federal Reserve's research into CBDCs and whether this research signifies a move toward more comprehensive CBDC development.

“You hire people that write code, it starts seeming like you’re developing and building versus researching,” Davidson said.

Gibson claims it’s only for research and that the Federal Reserve is “a long way off from the thinking about the implementation of anything related to a CBDC.”

However, we've been hearing members of the Fed itself sounding the alarm about the implementation of the digital dollar.

The Fed's Neel Kashkari on CBDC:\n\n"If they want to monitor everyone of your transactions you could do that (...) And if you want to directly tax customer accounts you could do that (...) So I get why China would be interested. \n\nWhy would the American people be for that?" #CBDC
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The differing viewpoints expressed during this hearing highlight the broader ideological divide between Democrats and Republicans in the ongoing debate over digital technologies such as digital IDs and CBDCs.

Republicans and civil libertarians tend to approach these technologies with skepticism, focusing on the overwhelming risks and harmful implications. This concern has led to the introduction of various bills aimed at limiting or outright banning these technologies. Democrats generally view these technologies as progressive innovations that will bring equality.

Even if you assign the best of intentions to these organizations that would implement CBDCs and digital ID (which, after the last few years, why would you?), the level of control we would be handing over to the central banks is frightening. With the click of a button, they could shut off banking access to anyone they deem an enemy. Preppers, anti-war leftists, religious dissidents, “cryptobros,” or the political bogeyman du jour could all be simply unbanked. If you don’t think that’s possible, ask the Canadian truckers.

Is Digital Gold The Solution To Democrats’ Digital Dollar?

Biden's executive order gives away the left’s objective. It says digital currency has 'profound implications for ... the ability to exercise human rights; financial inclusion and equity; and energy demand.'

Joe Rogan and Post Malone sound off on central bank digital currencies: 'No f***ing way. ... That's checkmate.'



Joe Rogan and musician Post Malone discussed the dangers of cash-killing central bank digital currencies on the Aug. 8 episode of the "Joe Rogan Experience."

While Malone appeared cynical about the present financial system, intimating the state and powers that be already enjoy too much control over Americans' spending and finances, Rogan indicated it could get much worse.

When asked how he felt about CBDCs, Rogan fired back, saying, "No f***ing way. No way. That's what I think. That's checkmate. That's game over."

Malone agreed, "That is f***ing checkmate."

The push for CBDCs in the West and around the world has taken on new momentum in recent months.

TheBlaze previously reported that the International Monetary Fund is working on a platform to ensure interoperability between CBDCs, whereby central banks would control their respective vaporous fiat currencies but adopt a single global ledger and adhere to international standards.

The Biden administration hinted that it might be on board, noting in a September 2022 report that among the policy objectives for an American CBDC would be interoperability and transferability with the global financial system.

Last year, Federal Reserve Chair Jerome Powell hyped the prospect of a U.S. CBDC, stating it could "potentially help maintain the dollar's international standing" and possibly "improve on an already safe and efficient domestic payments system."

The Federal Reserve's 2022 paper, "Money and Payments: The U.S. Dollar in the Age of Digital Transformation," cited the adoption of CBDCs as a way toward greater inclusivity, stating, "A CBDC could reduce common barriers to financial inclusion and could lower transaction costs, which could be particularly helpful for lower-income households."

Nationally syndicated radio host and co-founder of Blaze Media Glenn Beck underscored earlier this year that the problem with a CBDC is that "there is no physical cash. There’s even [a physical aspect] with Bitcoin — you can take it on a thumb drive and you stick it in your pocket, or you can move it from one off-ramp to another. Just memorize your seed phrase, that’s all … but it’s yours."

Conversely, with a CBDC, it's only electronic, "only in the Federal Reserve System," noted Beck.

Extra to stressing that the "federal government has no authority to unilaterally establish a central bank currency," Sen. Ted Cruz (R-Texas) has made clear that even if it did, it would be a bad idea.

Gov. Ron DeSantis (R) has indicated this bad idea is ultimately "about surveillance and control."

Accordingly, he has banned CBDCs in Florida and told Tucker Carlson that as president, he would "nix central bank digital currency. Done. Dead. Not happening in this country," reiterating that it is a "massive threat to American liberty."

Building on his response to Malone, Rogan warned there will inevitably be trouble if "they apply [CBDCs] to a social credit score — if they decide somehow or another that you need some social credit score system and it's for the benefit of society — and they outline that they can track your behavior and your tweets and all your things, and you get a score."

Nigel Farage, the former English politician who proved instrumental in the 2020 restoration of British sovereignty via Brexit, was recently debanked by a giant British financial organization over his tweets and un-woke views.

Farage, having seen firsthand what traditional banks are already willing to do to conservatives with allegedly unacceptable views, made a similar claim to Rogan in a video Sunday, noting that the push "towards a cashless society" will likely usher in "a social credit system where only if you obey the prevailing orthodoxy of the day can you take part in life."

Malone told Rogan that ship has sailed — that social credit scores are already here, "they just haven't released the f***ing report cards. They didn't send the report cards home to the parents yet. ... Everything is already imprinted. Everything is already tracked. Everything is already there."

Rogan contended that the technocrats set upon the elimination of cash and regulation of behavior "just can't control you to the same extent that they would like. And what they would like to do is to strip you of your money and to be able to lock you down and then make sure you comply."

Outside communist-controlled China, this tactic has already been used to great effect in Canada under the Trudeau government.

Canadian banks in concert with the Trudeau government began freezing accounts of people linked to the trucker demonstrations as a means to snuff out the peaceful populist protest, which was critical of vaccine mandates.

Rogan indicated that the state's ability to make examples of dissenters by stripping them of their money will preclude others from standing up: "They don't want everything they worked for just be taken away instantly overnight and be powerless. No one to call. No one's going to answer your phone. They just decided you f***ed up, and the rules are the rules."

Beyond just eliminating dissent, the podcast host indicated that state actors will ultimately abuse this ability upon realizing they can fill their coffers and pockets with Americans' confiscated digital currencies.

A February CATO study highlighted that in addition to CBDCs enabling governments to freeze someone's financial resources with greater ease and speed, having established "a direct line between citizens and the government itself," policymakers would be able to set negative interest rates, thereby forcing spending by causing people to lose money.

The study also highlighted how the government would be positioned to bar people from spending their money on certain goods or services.

Watch Rogan and Malone's CBDC conversation:

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