alicespringstomind

I just watched episode 1 of a new documentary, The War for Bankocracy. This is the trailer (2.5 minutes).

My summary of Episode 1 (40 minutes and a bit heavy-going), is that the Federal Reserve (US central bank), due to the US Constitution, don’t have “independence” from government. They are fighting for independence through law changes which will allow them to operate in secret, which they can’t really do yet. Various awake politicians are pushing back to stop them.

Other central banks however, do not have such constitutional constraints and it seems they already control their respective nations. The Reserve Bank of [pick your nation] are wealthy, private individuals – “the central bankers” – largely unknown to the citizens over whom they rule. They determine when and how much money to print. They determine where/how that money will be allocated. They determine interest rates and other factors that influence our lives. At the moment the monetary policy they determine includes cash, which we can use as we like without conditions, and in anonymity between each other.

The central bankers are working towards a central bank digital currency (CBDC, or “digital cash”) to replace physical cash. Augustin Carstens, head of the Bank of International Settlements (the central bank of the central banks), says in the video in the above trailer: “… with CBDC, Central Banks will have absolute control on the rules and regulations that will determine the use of that [money] expression of central bank liability“. The term “expression of central bank liability” means money. They intend to have total control.

CBDCs are not really “money”, but rather tokens. They will come with expiry dates (to limit your right to save) and conditions such as what you are allowed to buy, where from, how much, etc. Savings will be limited, and so will spending. If authorities decide you need to be taxed, it will come straight out of your digital account.

The CBDC system will require a digital identity. This differs from digital identification such as passports. It will link to your entire existence, from bank account to employment, health care, travel, online activities, every purchase you [try to] make etc. Nothing will work without it.

Like the Canadian truckers, who when identified at the Ottawa protests had their bank accounts frozen to stop them from challenging the government, and like already happens in parts of China, it will set up a new system of social credit / social control. Only the obedient to government edicts will have access to their tokens. I was once confident that people in the democratic world would never go along with this. It seems I was very wrong as deference to authority appears very much a part of our culture, as revealed through the covid era with mandates, digital passports, violent police responses to protest seen as appropriate, etc.

One of few Australian politicians pushing back against all of this, Gerrard Rennick said in the senate this week “I come to Canberra to serve the people, not to control them“. He is a minority as most appear to be following these plans for centralised control and most of the public do not oppose it, with many even cheering it on.

While cash remains in circulation it is not going to be so easy for them to transition to CBDC. If everyone is paying by card, then we’ll barely notice when our money becomes tokenised. The best push-back is to use cash whenever possible.