Dr. Phillipa “Pippa” Malmgren, a technology entrepreneur and economist, spoke at the annual meeting of the World Economic Forum being held in Davos, Switzerland, this week, dropping a bombshell prediction that the world is well on its way to implementing an electronic banking system that would open every transaction of every person to government scrutiny.
“I was very privileged. My father was the adviser to Nixon when we came off the gold standard in ’71, so I was brought up with a kind of inside view of how very important the financial structure is to absolutely everything else,” Malmgren said.
“And what we’re seeing in the world today is I think we are on the brink of a dramatic change where we are about to – and I’ll say this boldly – we’re about to abandon the traditional system of money and accounting and introduce a new one, and the new one – the new accounting – is what we call blockchain.”
“It means digital,” she continued. “It means having an almost perfect record of every single transaction that happens in the economy, which will give us far greater clarity over what’s going on.”
Unlike current cryptocurrencies, the system Malmgren describes will give the central banks complete control over people’s money. The banks will be able to track every transaction and even control how it is spent, blocking it from being transferred to people or organizations it deems undesirable.
This may sound like a dystopian sci-fi scenario of the distant future, but this was already seen in Canada when, without a court order, Prime Minister Justin Trudeau used emergency powers to order banks to freeze accounts of individuals who donated to the Freedom Convoy. Crowdfunding sites were also forced to return millions of dollars that had been collected for the truckers
The Biden administration also accessed bank records to track bank account debit card or credit card purchases made in Washington, D.C, during the Jan. 6 riot investigation. In October, even greater government overreach was avoided when the Biden administration backed down on a proposal to direct the IRS to collect additional data on every bank account that sees more than $600 in annual transactions.
Implementing such a global digital currency system would require the establishment of a global digital currency and a global digital identity for every person on the planet.
Rafi Farber, an Israeli economist and financial journalist who blogs and videos under the pen The End Game Investor, combines Torah knowledge with financial wisdom. He compared the New World Order and a global digital currency system to the Tower of Babel.
“Blockchain technology is just an excel spreadsheet that is spread around so everyone can see it,” Farber explained. “They are extremely trackable. This is the same as what banks are already doing. Banks and governments are always looking for a way to monitor transactions, and blockchain technology is not a new thing. The governments are already doing this. But they are forced to look at the transactions from multiple sources.”
“If this becomes centralized, it will just make it easier for the government.”
“The practical difference in switching from what we are using now, which is mostly digital anyway, to central bank digital banking is that cash will be outlawed. When you outlaw cash, every single thing becomes trackable. Nothing is too small.”
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