A Catholic Take on CBDCs
In this video below I summarize two lengthy video discussions on a plausible route for how a Central Bank Digital Currency (CBDC) could be brought about:
The two videos below discuss one way the CBDC could be ushered in to reset the world economy and debts.
Market Sniper: https://www.youtube.com/watch?v=JssN3WhKjl4
Maneco64: https://www.youtube.com/watch?v=L9aye4wQ8Ok
The Market Sniper Francis Hunt analyzes an interview between Maneco64 and Clive Thompson where they discuss how a bottleneck/throttle point could be set up between the current dollar and the new CBDC dollar.
Only money, accounts, and debts that they want to move over will move over, and any that they don't want to move over, won't.
Their goal would be to wipe out the unsustainable government debts and big corporate debts, while putting in the CBDC which would give them total surveillance and control over every person's money and spending.
Yes a true dystopian nightmare for us.
For them, a Midsummer Night's dream.
Already they are running experiments with a Central Bank and Bank to Bank settlement system using CBDC like tokens: https://cointelegraph.com/news/ny-fed-launches-12-week-cbdc-pilot-program-with-major-banks
But the CBDC I speak of here is a "Retail" CBDC, one that you and me would use.
Your own personal debts would likely be converted over to CBDC land--sorry no debt jubilee for you--which is a good reason to get out of debt and not go into debt unnecessarily.
The counterpoint to these arguments goes like this: the U.S. Commercial Banking interests are strong and powerful, and they have the ear of Jerome Powell, head of the Fed, and they do NOT want to be cut out in their profitable middle-man role between Central Banks and consumers, so they would block any Retail CBDC from happening.
Possibly so, at least for now. But things can change, and I also could imagine them finding a way for the commercial banks to stay in the loop in administering the CBDC system.
In any case, they would only try to roll this out under the cover of a national/world "emergency"--"the system is collapsing!" or "cascading liquidations" requiring a two-week bank holiday and emergency measures to reset the system to the new one.
At this point, these conjectures are just guesses as to how they might try to end the current unsustainable system (which they created and have run into the ground) and bring in the new tyrannical system.
