Central Banksters MONETARISM IS MACHIAVELLIAN “CBDC with Zero reserves, is the sweetest swindle ever"...
"Central bank digital currencies: a solution in search of a problem?" --The UK House of Lords Economic Affairs Committee, Report. Jan 2022.
Central Banksters peddle their CBDC as the "magic elixir" to solve their own creation , the mess known as debased currency, and extortion of the private sector trade via cross border payments flows... Lets ponder on this banksters thought bubble:
Imagine the banksters CBDC cross currency area payments
Imagine that South Korea issues a “retail” coin that individuals can hold in wallets and use in transactions. A Colombian exporter of coffee to South Korea can then be paid in won, assuming of course that nonresidents are permitted to hold Korean wallets. But that Colombian exporter will still need someone to convert those won into something more useful. If that someone is a correspondent bank with offices or accounts in New York, and if that something is the dollar, then we’re in today's world of cross currency area payments..
Alternatively, the Colombian and South Korean central banks could issue “wholesale” coins. Both would transfer currency to domestic commercial banks, which would deposit it into customer accounts. Now the Colombian exporter would end up with a credit in a South Korean bank rather than in a South Korean wallet – assuming this time that nonresidents are allowed to have Korean bank accounts. But, again, the exporter would have to ask the South Korean bank to find a correspondent to convert that digital balance into dollars and then pesos in order to have something of use.
The gamechanger would be if coins were interoperable. The South Korean payer would then ask its bank for a won-denominated depository receipt, and a corresponding amount of coins in the payer’s account would be extinguished. That depository receipt would be transferred into a dedicated international “corridor”, where it could be exchanged for a peso depository receipt at the best rate offered by dealers licensed to operate there. Finally, the Colombian payee’s account would be credited with the corresponding number of pesos, extinguishing the depository receipt. Voilà! The transaction would be completed at a fraction of the current cost without involving the dollar or correspondent banks.
Unfortunately, the conditions for making this work are formidable. The two central banks would have to agree on an architecture for their coin corridor and jointly govern its operation. They would have to license and regulate dealers holding inventories of currencies and depository receipts to ensure that the exchange rate inside the corridor didn’t diverge from that outside. And they would have to agree on who provides emergency liquidity, against what collateral, in the event of a serious order imbalance.
In a world of 200 currencies, arrangements of this type would require many thousands of bilateral agreements, which is obviously unworkable. And corridors of many countries, though sometimes imagined, would require rules and governance arrangements considerably more elaborate than those of the World Trade Organization and the International Monetary Fund. This, clearly, isn’t going to happen. And the pretense that a “digital coin" (CBDC) makes a difference, is the provable fraud peddled by “The Central Banksters”...
Think... its not that hard..
CBDCs are everything that cash is not: easily surveilled, censored, and apportioned to those deemed “worthy” of participating in this new digital economy.
Social credit – the notion that citizens must prove themselves eligible for inclusion by kowtowing to the will of the state – is already here, and it’s not just confined to authoritarian regimes. “If the Communist Party [of China] deems you to be untrustworthy, you are denied access to plane tickets, train tickets, opening and operating businesses", and placed in home detention for social re-education.
Of course, no one would expect a central banksters-issued CBDC to have any concept of privacy, as their money based surveillance has become the state’s primary weapon to control its people, and it is not about to relinquish control just because cash has gone digital. Nevertheless, the rollout of CBDCs threatens to usher in an era of unprecedented financial surveillance and control.
It’s not just citizens and small business owners, who should be concerned by the emergence of central bank digital currencies. They’re also a threat to the very existence of a private sector, as the public sector consumes all wealth, the private sector's existence is jeopardized by a paradigm where private businesses and people are ONLY able to obtain currency for trade, directly from a central bankster, issued on a centralised ledger controlled with a monopolist enforced vice-like grip.
If we’re to avoid sleepwalking into a dystopian totalitarian society, where every transaction, no matter how small, is scrutinized in real time, CBDCs must be vehemently opposed.
Seek Liberty, Equality and Fraternity for all...
Central banksters have ‘a license to lie’...
In the Machiavellian tradition, lying is often justified by reference to the higher needs of political statecraft, and sometimes by the claim that the state represents a higher level of morality. That tradition is once again in the spotlight, as the question of political untruth has recently resurfaced with the central banksters latest hoax CBDC. One of the most famous examples concerns the Great Depression – an epoch that central banksters frequently drew upon in trying to come to terms with their induced post-2007 financial crisis, and more recently the post-pandemic debt tsunami... Central banksters are the cause of the ongoing cycle of economic crisis, and all fiat-currency debasement, and hence cannot be consider as part of any solution.
When The Central Banksters’ Central Banksters, The BIS, comes out peddling Machiavellian lies and deception upon the people, one must ask oneself: If a man who only steals the wealth from past and future generations, is now giving you advice on how to preserve your wealth, would it not be wise to act contrarily?
No economic crisis or political revolution is likely to change central banksters’ inherent proclivity to think that they know better than the sheeple, who they control via the manacles of global debt...
Local Currency Units only have face value within the currency area members trade or exchange payments, hence no LCU’s are interoperable with any other currency area LCU as they have different face and exchange value.
Local Currency Units cannot flow across Currency Area boundaries
Only Value and Capital can flow across currency area boundaries
The flow of value is offset by the flow of capital
Net cross currency area Capital flows, are represented by WCU Reserves
Net cross currency area Value flows, are represented by current exchange rate LCU/WCU-LT
Liquidity Reserves
LCU Reserves (peak exchange rate flow)
WCU Reserves (peak capital flow)
WCU-Reserves manages cross currency area capital flows
LCU-Reserves manages exchange rate value flows
The establishment of the Bank of England, the model on which most modern central banks have been based. In the Kingdom of England in the 1690s, public funds were in short supply, and the credit of William III's government was so low in London that it was impossible for it to borrow the £1,200,000 (at 8 percent) needed to finance the ongoing Nine Years' War with France. In order to induce subscription to the loan, Montagu proposed that the subscribers were to be incorporated as The Governor and Company of the Bank of England with long-term banking privileges including the issue of notes. The lenders would give the government cash (bullion) and also issue notes against the government bonds, which could be lent again. A royal charter was granted on 27 July through the passage of the Tonnage Act 1694. The bank was given exclusive possession of the government's balances, and was the only limited-liability corporation allowed to issue banknotes. Hence the Central Banksters assumed control over the issuance and flow of debt from the King to his subjects, without the need for taxation. The role of the Central Bankster and the private banksters is collude to swap, public sector debt, for private sector assets and economic production. The central banksters swindle is based upon, the central banksters issuance of debt to treasury, which are both part of the Government; in all cases treasury (left hand) and the central bankster (right hand), have neither the means nor the intention to meet. Here we come up against a double standard: if the private sector tried to issue liabilities which they have neither the means nor the intention to meet, then they would be facing criminal prosecution. The banksters have issued themselves a "get out of jail free" card.
The central banksters sit between the king and the banksters to ensure that the banksters do not loose their heads, when the King decides to cancel his debts via "Madame Guillotine".. as was the case for the first central banksters the Knights Templar.
Central banksters operate via The King Canute theory of inflation. A thousand years ago, King Canute of England set his throne by the seashore and commanded the incoming tide to halt. The tide continued to rise and dashed over his feet and legs, driven by the laws of nature. A satisfactory theory of inflation cannot take the form ‘inflation will remain low because we say it will", the devine right to rule over the economy and the people is based upon the swindle that monetary policy alone can be the basis of economics. Every citizen should be concerned about the intellectual foundation of central bank monetary policy which has been proven to not hold back the tide of inflation since the rise of the Central bankster in 1690.
When King Canute sat in front of the incoming tide, his purpose was to show his courtiers that he was not omnipotent and could not by words alone undo the forces of nature. Central banks would do well to show the same humility and understanding of economics.