Post by NFA on Feb 26, 2024 14:06:56 GMT 8
Will CBDCs destroy what's left of freedom in the world?
We get the cold, hard facts from investment guru Catherine Austin Fitts
In case you think this might be an exaggeration, Fitts provides a third video. It’s a presentation by Neel Kashkari, president of the Minneapolis Federal Reserve Bank—one of the 12 privately owned Federal Reserve Banks that make up the federal reserve system. Kashkari was speaking last year at Columbia University and this is what he had to say about the plans to launch a central bank digital currency.
We get the cold, hard facts from investment guru Catherine Austin Fitts
Leo Hohmann Feb 24, 2024
For all of my readers who have followed the advent of central bank digital currencies and maybe have read a few of my articles on the topic but aren’t quite sure what to believe, you will not want to miss what I’m about to reveal from a top-notch expert on the American and global banking system.
This is going to clear up a lot of your questions.
Catherine Austin Fitts is a former investment banker with Dillon Read & Co., and served as assistant secretary of the U.S. Department of Housing and Urban Development under the first President Bush. She currently serves as president of Solari Inc. and publisher of The Solari Report, a financial newsletter.
This is going to clear up a lot of your questions.
Catherine Austin Fitts is a former investment banker with Dillon Read & Co., and served as assistant secretary of the U.S. Department of Housing and Urban Development under the first President Bush. She currently serves as president of Solari Inc. and publisher of The Solari Report, a financial newsletter.
Fitts has a new article out on the future of cash. It’s titled The Threat of Financial Transaction Control and it was published on her website, Solari.com, on February 12, 2024.
Fitts warns that the U.S. Federal Reserve and its central-banking allies are engineering unprecedented changes in the financial system.
How do we know this?
Fitts warns that the U.S. Federal Reserve and its central-banking allies are engineering unprecedented changes in the financial system.
How do we know this?
“Because they speak openly about what they intend to do,” Fitts writes.
In this article, she embeds three 1-minute videos that “describe the vision of total central control currently being implemented by the central banks.”
The first is a clip from a panel discussion at the International Monetary Fund in October 2020. The speaker is Agustín Carstens, the general manager of the Bank for International Settlements (BIS) in Basel, Switzerland.
The BIS is the most powerful financial institution in the world.
As Fitts explains, “the BIS is the central bank of central banks, which enjoys the powers of sovereign immunity. The Federal Reserve is one of 63 central banks which are BIS members, including the Bank of England, the European Central Bank, and the Bank of China.”
In this video clip, Carstens is describing the nature of central bank digital currency or CBDC. The BIS is leading a global effort to implement CBDC, including a partnership with the Federal Reserve.
Here’s what Carstens had to say about where he hopes our money is going, with the aid of CBDCs.
In this article, she embeds three 1-minute videos that “describe the vision of total central control currently being implemented by the central banks.”
The first is a clip from a panel discussion at the International Monetary Fund in October 2020. The speaker is Agustín Carstens, the general manager of the Bank for International Settlements (BIS) in Basel, Switzerland.
The BIS is the most powerful financial institution in the world.
As Fitts explains, “the BIS is the central bank of central banks, which enjoys the powers of sovereign immunity. The Federal Reserve is one of 63 central banks which are BIS members, including the Bank of England, the European Central Bank, and the Bank of China.”
In this video clip, Carstens is describing the nature of central bank digital currency or CBDC. The BIS is leading a global effort to implement CBDC, including a partnership with the Federal Reserve.
Here’s what Carstens had to say about where he hopes our money is going, with the aid of CBDCs.
So, what did he just say?
Fitts breaks it down for us.
“He just said that our bank deposits are not ours—our bank deposits are an ‘expression of central bank liabilities’—in other words, it is their money, not ours.”
Think about that for a moment and let it sink in.
Here we have a top official of the most powerful global financial institution telling us that they have devised a plan that would ensure that none of us will be entrusted any longer with real money. We will trade in an “expression” of money but it’s not real in any sense of the word. It’s not a storable or tangible asset. It’s not real wealth. It exists as a blip on a screen that can be eliminated at the click of a mouse.
Carstens said that “the central bankers will have complete surveillance and control of when, where, and how we can use our bank deposits,” Fitts writes. “And he said that they can enforce the rules centrally.”
Fitts adds:
“In short, our banking system is being transformed from a financial system to a control grid. Mr. Carstens believes that he can put us in digital financial concentration camps and make and enforce the tyrannical rules from outside your state. He believes that central bankers should be able to control who and how the people of your state can do business and with whom we can trade, including in your state.”
The second video Fitts highlights is of Bo Li, former deputy governor of the Bank of China and current deputy managing director of the International Monetary Fund (IMF), explaining the ability that this technology gives the central banks and governments to program money.
That’s right. Digital money is not just digital. It’s programmable.
Fitts breaks it down for us.
“He just said that our bank deposits are not ours—our bank deposits are an ‘expression of central bank liabilities’—in other words, it is their money, not ours.”
Think about that for a moment and let it sink in.
Here we have a top official of the most powerful global financial institution telling us that they have devised a plan that would ensure that none of us will be entrusted any longer with real money. We will trade in an “expression” of money but it’s not real in any sense of the word. It’s not a storable or tangible asset. It’s not real wealth. It exists as a blip on a screen that can be eliminated at the click of a mouse.
Carstens said that “the central bankers will have complete surveillance and control of when, where, and how we can use our bank deposits,” Fitts writes. “And he said that they can enforce the rules centrally.”
Fitts adds:
“In short, our banking system is being transformed from a financial system to a control grid. Mr. Carstens believes that he can put us in digital financial concentration camps and make and enforce the tyrannical rules from outside your state. He believes that central bankers should be able to control who and how the people of your state can do business and with whom we can trade, including in your state.”
The second video Fitts highlights is of Bo Li, former deputy governor of the Bank of China and current deputy managing director of the International Monetary Fund (IMF), explaining the ability that this technology gives the central banks and governments to program money.
That’s right. Digital money is not just digital. It’s programmable.
So, what does “programmability” mean? We have the term defined by Bo Li in the video above when he says, “CBDC can allow government agencies and private sector players to program…and allow targeted policy functions…By programming CBDCs those moneys can be precisely targeted for what kind of money people can own and for what kind of use this money can be utilized.”
Bo Li addressed the programmability from the angle of “financial inclusion.” But the reverse is equally true. The government can also use this technology according to its own whims for financial exclusion.
Fitts explains when she writes:
Bo Li addressed the programmability from the angle of “financial inclusion.” But the reverse is equally true. The government can also use this technology according to its own whims for financial exclusion.
Fitts explains when she writes:
“If the rules say you cannot travel more than 15 miles from your home, your money will not work more than 15 miles from your home. If the rules say you cannot eat pizza, your money will not work when you try to buy pizza. Want to disarm the people in your state? Just turn off the bank accounts and credit cards of anyone who refuses to turn in their guns. Shut down the bank accounts of gun stores and dealers. Make sure no one’s money can pay for ammunition. If a State senator or House representative or candidate objects, just freeze their bank accounts, too. While you are at it, turn off their phone and Internet access. Turn off their electricity and gas.”
In case you think this might be an exaggeration, Fitts provides a third video. It’s a presentation by Neel Kashkari, president of the Minneapolis Federal Reserve Bank—one of the 12 privately owned Federal Reserve Banks that make up the federal reserve system. Kashkari was speaking last year at Columbia University and this is what he had to say about the plans to launch a central bank digital currency.
There you have it, from an insider. There is nothing a central bank digital currency will be able to do that existing private systems like Venmo or PayPal can’t already do. The only difference is the CBDC will come with enforcement, monitoring and taxing powers under the color of law. One thing the gentleman above neglects to point out, however, is that even PayPal and Venmo will not let you use funds in your account for certain purchases, such as firearms or ammo, so do you think a government-tied central bank will let you buy whatever you want, when you want, when it gets ahold of this technology? PayPal and Venmo also do not have the power to eliminate cash as a competitor to their digital financial systems — the Federal Reserve does.
A CBDC would also eliminate the middle man in the form of thousands of commercial banks. When the Canadian government wanted to punish the Canadian truckers for protesting vaccine mandates, it had to get the cooperation of the banks. If a CBDC was in place, the central bank could shut off your access to your money unilaterally with the click of a mouse.
Case closed.
I personally do not believe a system this totalitarian could be implemented in one fell swoop. It would likely be implemented in phases, starting off voluntary and offering financial incentives to sign up for it. Eventually it becomes more aggressive, more restrictive, more punitive, and of course mandatory, totally replacing cash and credit/debit cards.
It might even take a good crisis, real or engineered, to fully implement the most nefarious aspects of the CBDC system. But we’ve seen how eagerly most people “obey the rules” during a crisis that creates a “new normal.” Even when they don’t like the rules, they obey them.
Don’t let anyone ever tell you that you’re a conspiracy theorist or just some weirdo who gets his thrills by scaring people with “doom and gloom,” simply because you talk truthfully about CBDCs and what they will be able to accomplish in terms of eliminating all human freedoms from the Earth.
Case closed.
I personally do not believe a system this totalitarian could be implemented in one fell swoop. It would likely be implemented in phases, starting off voluntary and offering financial incentives to sign up for it. Eventually it becomes more aggressive, more restrictive, more punitive, and of course mandatory, totally replacing cash and credit/debit cards.
It might even take a good crisis, real or engineered, to fully implement the most nefarious aspects of the CBDC system. But we’ve seen how eagerly most people “obey the rules” during a crisis that creates a “new normal.” Even when they don’t like the rules, they obey them.
Don’t let anyone ever tell you that you’re a conspiracy theorist or just some weirdo who gets his thrills by scaring people with “doom and gloom,” simply because you talk truthfully about CBDCs and what they will be able to accomplish in terms of eliminating all human freedoms from the Earth.
All of the information I’ve revealed in this article is from central bankers in positions of incredible power. Not conspiracy theorists. Not from doom-and-gloomers who get some kind of dark satisfaction by scaring people.
I just want you all to have accurate information on where things are likely heading over the next few years. I don’t know how quickly it will happen, especially if, like I said, it gets rolled out in phases. It’s up to you what you do with this information. I do not advise and will not advise people on what to do with their money. I’m not licensed for that. I’m just a journalist and a critical thinker.
I just want you all to have accurate information on where things are likely heading over the next few years. I don’t know how quickly it will happen, especially if, like I said, it gets rolled out in phases. It’s up to you what you do with this information. I do not advise and will not advise people on what to do with their money. I’m not licensed for that. I’m just a journalist and a critical thinker.