Christine Lagarde, President of the European Central Bank, has confirmed that the digital euro, the EU’s central bank digital currency (“CBDC”), will launch in October 2025.
If we allow the implementation of CBDCs, we will be handing control of all our transactions and decisions to central banks. It will mean the removal of all our rights and freedoms.
The ECB has been working on the digital euro for over five years. It is currently in the “preparation phase” which started in November 2023. The launch of the digital euro is the next phase, which involves the actual rollout of the digital euro across the EU member states.
“The deadline for us [to make the digital euro a reality] is going to be October 2025 and we are getting ready for that deadline,” Lagarde said during a press conference on 6 March.
“But,” she added, “we will not be able to move unless the other parties, the stakeholders as I call them – [European] Commission, Council and Parliament – actually complete the legislative process, without which we will not be able to move.”
As Crypto News reported, “Despite Lagarde’s confidence, some EU lawmakers remain doubtful. A Reuters report from 10 March suggests many question the feasibility and necessity of a CBDC. Concerns include government overreach, data privacy and the challenge of integrating the digital euro into the financial system.”
A year ago, Lagarde claimed on LinkedIn, “We envisage a digital euro as a digital form of cash that could be used for all digital payments, free of charge, and that meets the highest privacy standards. It would co-exist alongside physical cash, leaving no one behind.”
Not only is Lagarde’s claim that a digital euro is a digital form of cash a fallacy but her claim that it would co-exist alongside physical cash was also a manipulative marketing ploy.
As Forbes pointed out, “While the Digital Euro is slated to ‘co-exist’ with cash, this also comes when EU nations are voting on ending end-to-end encryption (a critical digital privacy tool) and have started to restrict cash with limits being placed on how much you can spend in cash to accelerate its slow demise.”
Forbes had previously noted that central banks around the Eurozone cited the need for the digital euro because of the declining use of cash in society and the rise of private solutions such as cryptocurrencies.
Both reasons for needing CBDCs represent creating a problem to be able to implement “the solution.” Not only are they helping to bring about the decline in the use of cash but cryptocurrencies, the second reason why CBDCs are “needed,” have played a key role in the development of CBDCs.
An article written by Stavroula Pabst and published by Unlimited Hangout last year described how major players in the crypto world were playing key roles in ongoing CBDC pilot projects globally.
It’s vital every person understands what CBDCs will mean for us.
As Richard D. Hall’s 2022 animated film below illustrates, if allowed to happen, CBCDs could be the most devastating event in our lifetime and the biggest removal of liberty in modern history.
Prof. Werner, a German banking and development economist, is known for his work in monetary economics and his contributions to the understanding of how money is created in the modern economy. He was the first to suggest the term “Quantitative Easing,” or QE, and also coined the term “QE2.”
He explained to the audience at the Monetary Institute that after abolishing the money supply and abolishing cash, central banks will “introduce digital cyber currency that central bank’s issue and control and thereby gain total control over all economic transactions, decisions and the whole lot.“
“The greatest concentration of central banking power in history is really the bid they’re aiming at. That’s: the banks go and, of course, digital accounts of dissenters and regime critics could be switched off, it would be very difficult to even purchase necessities. So, this is an Orwellian dystopia of total control, the end of any freedoms. That’s really what central banks are aiming at.
“Several central banks have, like the Bank of England, already prepared their microchip implant, RFID chip, to be implanted under your skin … Universal basic income is the bribe for you to accept the microchip.”
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