Fintech & Blockchain

Technocrats within the central bank network around the world have developed working technology for Central Bank Digital Currency and are now testing their inventions. For the NY Fed to call this a "digital dollar" and "distributed blockchain" are misnomers: they should be a CBDC and centralized bank transactions. Big banks are eagerly cooperating with the Fed.

According to the BIS, the mBridge ledger is a "new native blockchain", "custom-designed and developed by central banks for central banks, to serve as a specialized and flexible platform implementation for multi-currency cross-border payments." This expansive blockchain technology will tie the world's central bank system into a monolithic structure of financial control.

If "the fish rots from the head down", then look no further than the Bank for International Settlement for the rapid implementation of CBDCs throughout the world. The chart below is likely out of date, with much more development having been conducted since the data was collected. The CBDC network is the chosen monetary system for the other side of the Great Reset.

They asked for public comment. The overwhelming majority said to stuff it. In defiance of public sentiment, the response is "the European Commission will need to step up their efforts to better explain to its population how a digital euro works, to demystify some beliefs, and perhaps to show the benefits of a digital euro."

Fintech is the chosen financial system for Sustainable Development. Today's cryptocurrencies will be completely driven out of existence by Central Bank Digital Currencies (CBDCs) which collectively serve to "build trust in sovereign currencies." Technocrats will not allow the existence of things they cannot control, so unfortunately, crypto's days are numbered.

As I have said, when the Federal Reserve created its own digital currency and accepts its first consumer deposit account, the U.S. Treasury will be obsoleted and Congress will lose all control over creating money and coinage. This means that one private banking monopoly controls the entire monetary system.

To make CBDCs like a stablecoin, the BIS will likely implement a global basket system like Special Drawing Rights, where all digital currencies are interchangeable. This is similar to John Maynard Keynes' concept of Bancor, which allowed a one-way transfer of gold into Bancors but not the other way around.

The BIS in Basel, Switzerland is the central bank to central banks all of which represent a giant vampire squid on planet earth. When CBDC accounts are opened directly by the public, the U.S. Treasury will be obsolete and powerless, as will our Congress that has responsibility to coin money. This means total control over currencies by one monolithic structure that sits out of reach from all governments.