A group of world elites met this week to discuss the implementation of digital currencies run by central banks that will allow the world elites to control your behavior. Using this technology these elites, who believe they are so much more important and clever than you are, will decide what you can eat, say and do.
Included in the group were: Her Majesty Queen Máxima of the Netherlands, who’s also the UN Secretary-General’s Special Advocate for Inclusive Finance for Development. Kristalina Georgieva, Managing Director, IMF, and Bo Li, Deputy Managing Director, and Cecilia Skingsley the BIS Innovation Hub Director.
Here is their presentation and discussion:
Activist Post covered the conference and shared the following:
Unlike cryptocurrencies, which are private, Central Bank Digital Currency (CBDC) will be issued and controlled by the central banks themselves. In many ways, it’s the same as banknotes, but it’s likely that every single transaction will be monitored for compliance…
…As a result of this potential programmability, government agencies can precisely target their support packages to the right people. CBDCs can’t solve every financial inclusion challenge, but they can work together with financial literacy and digital literacy. CBDC will have to work with other policies like digital identities and wallets.
This goes hand in glove with what the World Bank Group Report titled CBDC for Cross Border Payment described in November 2021.
Digital identity verification is essential to the operation of CBDCs, particularly in cross-border transactions. Tradeable digital assets must be tied to a digital identity system, which in turn should be tied to an automatic KYC and AML/CFT verification system. This is a foundational step to the potential use of CBDCs, and emerging developments in regulatory and compliance technology may benefit central banks’ experiments in the digital currency space.
Sikh for Truth shared some clips from the presentation on Twitter:
🧵 Breaking:
1.
Governments & private sector can use #CBDCs to program smart contracts for target policies (e.g., Welfare Payments, UBI, Consumption Coupons, Food Stamps). CDBC can be programmed to determine what people can and cannot own. #IMF #CBDC pic.twitter.com/3pEykxc1Au
— Sikh For Truth (@SikhForTruth) October 15, 2022
The participants must either see no harm in controlled currencies or relish the idea of controlling others.
#IMF drops more CBDC info. Service providers can use transactional data to underwrite credit for social scoring. Using an example of how many coffees I drink every day, where I get coffee & if I use Uber. Financial service providers can use this data to give me a credit score. pic.twitter.com/RGxJilrw51
— Sikh For Truth (@SikhForTruth) October 16, 2022
This is the Brave New World we were warned about.
