Get Ready For Governments To Push Digital Currencies After Widespread Banking Collapse

Get ready for governments to push digital currencies after widespread banking collapse

JD Heyes

The motto of the tyrannical is “never let a good crisis go to waste,” and the globalists who want to remake the world in their authoritarian image have just been handed a golden opportunity as banks continue to fail in the U.S. and around the world.

The collapse of Silicon Valley Bank has created an opportunity for over 100 governments worldwide to introduce central bank digital currencies (CBDCs) and implement increased government controls in the financial sector. The fear of bank runs and calls for more regulatory oversight have made room for governments to push CBDCs as a solution, which could enable unprecedented levels of surveillance, noted Reclaim the Net.

CBDCs are digital versions of fiat currencies that are issued and backed by central banks. Unlike cryptocurrencies, which are decentralized and not backed by any authority, CBDCs are issued and regulated by central banks. They are being sold to the general public as being much more ‘reliable’ and ‘stable’ forms of currency.

The globalists also say that some of the main advantages of CBDCs are that they offer increased financial inclusion, greater payment system efficiency, and improved monetary policy implementation. CBDCs could potentially provide more people with access to banking services, as they can be used by anyone with a smartphone or internet connection. The globalists claim this could help to reduce financial exclusion and improve financial literacy.

They also claim that CBDCs could also improve payment systems by reducing the need for intermediaries, such as banks and payment processors. We are told that this could lead to faster and cheaper transactions, as well as greater transparency and security. CBDCs may also improve the effectiveness of monetary policy, as central banks would have more direct control over the money supply and interest rates.

But therein lies the rub: Central banks are also owned and controlled by central governments, and that’s not the only complaint about them. One of the main concerns is that they could potentially disintermediate commercial banks, leading to a significant restructuring of the financial system. There are also concerns around financial stability and privacy, as CBDCs could potentially be used to facilitate money laundering and illicit activities, not to mention provide hackers with a bevy of personal financial information.

Nevertheless, this is what the power elite want so that is what they will push for. Reclaim the Net warns that the following talking points will be utilized to ‘convince’ us that central control over all our money (and making it digital, meaning it can’t be physically held and counted) is for our own good:

Talking Point 1: CBDCs will protect you from social media bank runs

Within days of Silicon Valley Bank’s failure, it was described as the “first social-media fueled bank run in history” and fears about “social media disinfo” started to be stoked.

“Governments are likely to seize upon and amplify these fears of social media bank runs as they push new regulations and proposals in the wake of the Silicon Valley Bank collapse. And they’re likely to position CBDCs as the solution,” the report said.

Talking Point 2: CBDCs will provide financial stability

As Silicon Valley Bank collapsed, the prospect of widespread financial contagion event loomed. Companies said they were left unable to pay staff, large online platforms delayed payments to sellers, and other companies revealed that they held significant portions of their cash at Silicon Valley Bank.

“Get ready for governments to capitalize on the fear of financial instability and use this narrative to push new rules and regulations that will supposedly provide financial stability. They’ll likely blame banks for creating financial blowups, insist that governments need more control over the financial system, and present CBDCs as the tool that will bring financial stability,” the report said.

Keep in mind that Congress passed, and Barack Obama signed major financial regulation legislation following the last major market and banking collapse — the Great Recession of 2008. We were told then that the new rules were needed to prevent the sort of bank runs and collapses we’re once again seeing.

Talking Point 3: CBDCs should be used for customer deposit protection

Many governments have already cited making direct payments to citizens as one of the main use cases for a CBDC. If more banks fail, expect governments to start increasingly focusing on CBDCs as a solution for affected customers.