How Do Global Elites Plan On Taking Control Of Your Money?
Central banks plan on taking fiat currency manipulation straight to the source through a new programmable currency known as Central Bank Digital Currency.
China is currently testing its Central Bank Digital Currency as the Fed and European Central Banks begin to play catch-up.
Who are the Global Elites?
The Global Elites are the ruling class of lunatics who meet every year in Davos Switzerland.
These billionaires, politicians, unelected deep-state government officials, and banking cartel members get together with people like Klaus Schwab of the World Economic Forum and scheme up ideas for saving the world.
Unfortunately, their ideas for saving the world usually consist of centralizing power and stealing away personal freedom.
What is Central Bank Digital Currency?
Central bank digital currency is a new programmable digital currency meant to replace cash.
You will have an account directly with the Federal Reserve and the Fed will issue programmable currency, like a digital dollar, to your wallet.
The government will claim it's necessary to issue transfer payments to the people, faster. They'll probably offer free cash for using it. That's how they'll get early adoption.
The more sinister, dark-side of Central Bank Digital Currency is that:
- It literally has ‘central bank' in the name (can't trust those guys),
- It's programmable to a fault,
- Politicians and Bankers have control.
Programmable Money
No, this is not digital money like PayPal or Venmo. This is different.
If you belong to a certain social class, then your money could be programmed to benefit your social class. If you have a poor social score, then your wallet could be programmed to penalize you. It will get that dystopian at some point.
With great power, comes great responsibility and of course, you know this power can and will be abused. Especially when bankers and politicians are at the helm.
Why are Global Governments Gaining an interest in CBDCs?
Sophisticated technology can reduce expenses associated with financial transactions, including the management and transfers of cash.
A government’s monetary policy can rapidly and smoothly move through central bank digital currency.
It has the potential of being inclusive for people to access money that does not use banks to handle their debit and credit transactions.
For private companies to become competitive and meet the standards of transparency and prevent unlawful activities.
A downside a government must consider before launching a central bank digital currency is that the centralization of a private system has repercussions.
It can create cybersecurity risks among its users and jeopardize privacy. Other downsides include outdated regulatory processes to trade with the new money form and users' ability to withdraw too much of their money to buy CBDCs. This could cause a move on banks. (2)
Presently, the US government can monitor and regulate most digital payment transactions in dollars anywhere in the world. What can limit policymakers’ ability to track digital payment flows across the border is an alternative payment system built around the US dollar.
CBDC has major challenges involving policing economic tools and sanction use, when a country may use another payment system to avoid getting caught.
As of April 2021, 19 world countries including China, Saudi Arabia, Sweden, Thailand, South Korea, Ukraine, and the United Arab Emirates piloted CBDCs. The United States is researching the digital coin to explore its use and the impact of virtual currencies.
Massachusetts Institute of Technology and Boston Federal Reserve Bank are performing research on the central bank's digital currency. They plan to release their results in the fall of 2021.
The losers in this arena will most likely be the financial institutions in traditional banking and fintech. If people withdraw their money and close their accounts, the banks will lose deposits and the central banks will gain the deposits. It will become an exchange of hands, resulting in trouble with the financial banking systems.
If CBDCs cause the traditional banking system to fade out of existence, it would affect economic growth significantly.
To avoid this, the central bank will have to become a lender or a regular source of funding for banks. Overall, there will be unintended disruptive consequences, as history reveals the failure of the Fed’s monetary system in the past.
George Gammon made an obvious point when he discussed the previous monetary systems that took advantage of the poor and protected the wealthy.
A Look at Billionaire Wealth During the Pandemic
An updated report by Inequality Org shows that the wealth of billionaires in America increased by 55 percent from March 2020 to April 2021, totaling $1.6 trillion.
Forbes validated this information and showed the wealth growth is incredible and a problem over the 13 months of the global pandemic.
In America, there are 719 billionaires as of April 12th to hold four times more wealth than the 165 million citizens in the bottom half of society.
Today, there is approximately 11 times the number of billionaires compared to 1990. The report revealed that one-third of the American billionaires’ wealth growth came during the pandemic over the past 30 years. Billionaires were worth $4.56 trillion, and the bottom half was worth $1.01 trillion.
In 1990, the situation reversed with billionaires worth $240 billion and the bottom 50 percent have $380 billion in total wealth.
Four US Billionaires that Experienced Wealth Growth from 2020 to 2021
1. Jeff Bezos, Founder of Amazon
The net worth of Jeff Bezos increased by 74 percent, since March 2020. He has a net worth of nearly $197 billion.
2. Elon Musk, Founder of Tesla and Space-X
Elon Musk experienced an enormous increase in net worth, by 599 percent to be exact. His total net worth during the pandemic is $172 billion.
3. Bill Gates, Founder of Microsoft
Bill Gates has a net worth of $130 billion. His net worth is up by 33 percent since March of last year.
4. Mark Zuckerberg, CEO of Facebook
Within the last 13 months, Mark Zuckerberg has a net worth of $113.5 billion. It is a 108 percent increase compared to his net worth during the first quarter of 2020. (3)
These are just a few elites in the US with substantial wealth and do not include the global elites.
Once more countries pilot central bank digital currencies around the world, the international wealthy, including Americans, will influence control of your money.
We see that today, the richer getting richer during the pandemic and the poorer are getting poorer.
Somewhere the middle class is in between, subject to more tax liabilities, compared to the wealthy elites.
For centuries, the banking systems failed miserably for the average working-class people and economically deprived citizens. It happened in the 1920s and throughout history to the present day.
1 Domhoff, G.W. (2017, April). Wealth, Income, and Power. The University of California at
Santa Cruz. Retrieved from https://whorulesamerica.ucsc.edu/power/wealth.html
2 Atlantic Council. (2021, April 20). The Rise of Central Bank Digital Currencies.
Retrieved from https://www.atlanticcouncil.org/blogs/econographics/the-rise-of-
central-bank-digital-currencies/
3 Collins, C. (2021, April 15). Updates: Billionaire Wealth, U.S. Job Losses and
Pandemic Profiteers. Inequality Org. Retrieved from https://inequality.org/great-
divide/updates-billionaire-pandemic/
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