The IMF claims Central Bank Digital Currencies, CBDCs for short, are “the future of money.”
What do these claims have in common?
Both organizations could use CBDCs to gain more control and violate human rights.
Currently, we have the perfect storm for such a project.
Crashing financial markets, historical inflation, the looming energy crisis in Europe, recession, and fear of nuclear confrontation give the central banks an ideal opportunity to play the blame card.
With the help of the mainstream media, central bankers will soon force the entire population to comply with a new financial system.
They will claim that incorporating this new technology is an attempt at modernization for an old system. They will tell us that CBDCs enable us to make fast and secure transactions 24/7, or they will increase transparency in the system and decrease money laundering and other illegal activities.
Although this may be true, it’s a step back toward the communist nightmares of the 20th century. In other words, CBDC might be the biggest poison to the fabric of our society.
Here are just a few toxic examples.
Loss of privacy
The primary threat CBDCs pose to us is the loss of your privacy. You will spend the CBDC only via the online digital wallet. In other words, central banks will monitor, track, and record every transaction and control every aspect of our financial life.
Personalized interest rate
Central banks are allowed to manipulate interest rates and print money. While all the policies are currently distributed to citizens equally, with the CBDCs, the central bank will be able to personalize the monetary policies to the individual. For instance, you get a negative interest rate on your money if they decide to increase your consumption. In other words, they will apply a personalized inflation rate to individuals. Central banks can use such social engineering strategies in a million ways and manipulate people’s habits, political orientation, occupation, residency, or even sexual orientation. The possibilities are endless.
Once CBDCs are in the hands of a population, the central banks gain absolute control. They will no longer have to use the parliamentary or judiciary system to impose new rules and directives. That is to say; the court order will no longer be necessary to censor or seize your funds. In effect, we surrender our civil liberties and human rights to a group of unelected bureaucrats dealing behind closed doors.
Social credit system
Once central banks gain complete control over our financial lives; they can reward or punish citizens for their actions through the so-called social credit system.
Have you been eating too much chicken? You can’t buy more meat for the rest of the year. Have you been driving too much this month? Now you can’t buy gas before you purchase carbon credits. This sounds absurd until you realize that the Bank of England is openly discussing this in public now. China already has one in place, and Canada is implementing one in real-time right now.
Expiration of money
It’s important to remember that central banks love to print money during economic uncertainty, which causes inflation. With CBDC, they don’t have print money. Instead, they can say that if you don’t spend money in the next three months, that money will expire. In other words, they will confiscate your wealth unless you spend it on things you don’t need. And if you can’t preserve your capital, you can’t build long-lasting, generational wealth, and by definition, you become dependent on the state. That’s a road to serfdom.
These are just four examples of human rights violations central banks could engage in with CBDCs.
It should be one of the main conversations in the media right now. However, the central bankers know better than anyone else that without global awareness, people will be cheering the implementation of CBDCs.
What’s the way out of the abyss?
There’s an antidote to the society poisoning forces of central banks. Socrates one said,
“The secret of change is to focus all of your energy not on fighting the old but on building the new.”
That is to say; we can’t fight the central banks with conventional weapons. They can print all the money in the world to buy influence in media companies, corporations, and politicians.
But they cannot fight that bitcoin is orders of magnitude better than their fiat money.
It doesn’t have ever-changing rules; it doesn’t inflate you away, it doesn’t require a third party, and no one can freeze or seize your funds.
By all means, bitcoin is an antidote to CBDCs.