Cashless Society: WEF Boasts That 98% Of Central Banks Are Adopting CBDCsTYLER DURDEN
Whatever happened to the WEF? One minute they were everywhere in the media and now they have all but disappeared from public discourse. After the pandemic agenda was defeated and the plan to exploit public fear to create a perpetual medical autocracy was exposed, Klaus Schwab and his merry band of globalists slithered back into the woodwork. To be sure, we'll be seeing them again one day, but for now the WEF has relegated itself away from the spotlight and into the dark recesses of the Davos echo chamber.
Much of their discussions now focus on issues like climate change or DEI (Diversity, Equity, Inclusion), but one vital subject continues to pop up in the white papers of global think tanks and it's a program that was introduced very publicly during covid.
Every person that cares about economic freedom should be wary of Central Bank Digital Currencies (CBDCs) as perhaps the biggest threat to human liberty since the attempted introduction of vaccine passports.
The WEF recently boasted in a new white paper that 98% of all central banks are now pursuing CBDC programs. The report, titled 'Modernizing Financial Markets With Wholesale Central Bank Digital Currency', notes:
“CeBM is ideal for systemically important transactions despite the emergence of alternative payment instruments...Wholesale central bank digital currency (wCBDC) is a form of CeBM that could unlock new economic models and integration points that are not possible today.”
The paper primarily focuses on the streamlining of crossborder transactions, an effort which the Bank for International Settlements (BIS) has been deeply involved in for the past few years. It also highlights an odd concept of differentiated CBDC mechanisms, each one specifically designed to be used by different institutions for different reasons. Wholesale CBDCs would be used only by banking institutions, governments and some global corporations, as opposed to Retail CBDCs which would be reserved for the regular population.
How the value and buying power of Wholesale CBDCs would differ is not clear, but it's easy to guess that these devices would give banking institutions a greater ability homogenize international currencies and transactions.
In other words, it's the path to an eventual global currency model.
By extension, the adoption of CBDCs by governments and global banks will ultimately lead to what the WEF calls "dematerialization" - The removal of physical securities and money. The WEF states:
"As with the Bank of England’s (BOE) RTGS modernization programme, the intention is to introduce a fully digitized securities system that is future-proofed for incremental adoption of DLT (Distributed Ledger Technology). The tokenization of assets involves creating digital tokens representing underlying assets like real estate, equities, digital art, intellectual property and even cash. Tokenization is a key use case for blockchain, with some estimates pointing towards $4-5 trillion in tokenized securities on DLTa by 2030."
Finally, they let the cat out of the bag:
"The BIS proposed two models for bringing tokenization into the monetary system: 1) Bring CBDCs, DTs and tokenized assets on to a common unified ledger, and 2) pursue incremental progress by creating interlinking systems.
To interpret this into decoded language - The unified ledger is essentially another term for a one world digital currency system completely centralized and under the control of global banks like the BIS and IMF.
The WEF and BIS are acknowledging the difficulty of introducing such a system without opposition, so, they are recommending incremental introduction using "interlinking systems" (attaching CBDCs to paper currencies and physical contracts and then slowly but surely dematerializing those assets and making digital the new norm). It's the totalitarian tip-toe.
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