Post by Faulty Memory on Aug 9, 2022 10:23:58 GMT 8
The following news article outlines the RBA's intention to introduce a twelve month "limited trial" of a CBDC - a Central Bank Digital Currency - here in Australia. As you read it please remember -
- This is the same RBA that was telling us as late as February this year that interest rates would not go up until 2024. They have now raised rates three times in the last three months, with more on the way. And it is still only 2022.
- With a CBDC in place the way is clear to ban cash and introduce a digitised social credit system complete with a UBI (Universal Basic Income). Bye bye your superannuation. Legislation for this - the Currency (Restrictions on the Use of Cash) Bill 2019, was passed by the federal House of Representatives (HoR) in October 2019, and passed its two readings in the Senate without amendment in November 2019. It was only held back by public outcry at the time. It now only requires a final vote in Senate to become law. It is written in such a way as to allow it to be backdated to January 1, 2020. In parliament this bill has been supported by every member of the Liberal, Labor and National parties.
- The blockchain technology to drive this was developed by a certain Australian economist working under contract for Oxford University which developed the model CBDC for the Bank of England and is now being adopted by other western countries, including the UK, the USA, Canada, New Zealand and Australia - ie - the UKUSA Pact countries.