Currencies are the lifeblood of trade and the economy; if a currency fails, the entire economy fails. Yet, most people rarely think about the health or buying power of the money in their pocket. People don’t research how often currencies actually falter and how common it is for inflation or stagflation to strike nations. They just assume that the money they have will be as useful tomorrow as it is today. They also assume that money will never change in a dramatic way.
This lack of interest in how money works is likely due to the fact that people are not taught how their money is created. It’s not discussed in schools, the truth is avoided in colleges and the mainstream news rarely mentions it. People think our government and treasury handles all of that, but the reality is that our government does NOT create our money; at least, it’s not in charge of the process. Central bankers are, and they operate from a “quasi-independent” position.
For example, former Federal Reserve chairman Alan Greenspan once openly admitted that the central bank “answers to no one” and does not follow orders from the government. They do what they want when they want.
This attitude should concern you because it is a long held argument among critics of the Fed that they are an unelected body with ultimate power to destroy the economy and the dollar at will if they want to. Sure, the US President gets to “choose” the next successive chairman, from a list of candidates that is given to him by the Fed, of course. And Congress could conceivably call for a full audit of the Fed’s financial actions and policies, but they never do because it would never be allowed by the banks or their political partners. The central bank is the most powerful institution in our nation by far. They are completely unaccountable and uncontrollable.
There is only ever the question of public reaction; this is the one thing the bankers fear. They are afraid that the public will learn who they are and what the central bank does. They are afraid that their actions and policies will anger the public enough to inspire rebellion. They are afraid that the torches and pitchforks will one day come out. So, they divert blame as much as possible for the damage that they cause.
The only thing that limits central banks from total monetary dominion is the fact that physical dollar holdings and even digital bank transfers can be accounted for. Once those dollars are out in the ether there’s not much the central banks can do to hide them and eventually, inflation will reveal the truth.
The bankers need a new system which allows them total control of every single penny from creation to circulation. They want the ability to make money appear or disappear in real time. More than that, they want the ability to track every single dollar, including who has them and what they are using them for. They want to be able to micromanage trade, and thus achieve a financial totalitarian empire.
Enter Central Bank Digital Currencies (CBDCs) based on blockchain technology…
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