As the global economy groans under the weight of more debt piling on more debt, the Federal Reserve has added the attribute ‘social control’ to its definition of money. Will citizens of the world stop buying Bitcoin?
Huge spending continues
Currently, U.S. borrowing is increasing to completely unsustainable levels. Debt now exceeds $34 trillion, with interest alone exceeding $1 trillion, making it the largest item on the Treasury’s balance sheet.
How can the United States double its spending to similar levels as a few years after the virus outbreak? That is, unless the government knows that all this extra spending is not important.
CBDC will make things much easier
Once a central bank digital currency (CBDC) is implemented, central banks will have full control over everyone’s spending, right down to the individual level.
So how can a central power get its citizens to accept a CBDC, other than imposing it outright?
All that world leaders and leaders of global financial institutions are saying about CBDCs right now is that CBDCs will make things much easier for everyone. It’s fast, safe and very efficient.
CBDC means total control
But all this comes with a nightmarish downside. CBDC completely destroys privacy. The central bank knows exactly what anyone is spending their money on and has a say in whether or not every single transaction is allowed.
Because CBDCs are likely to be linked to identities, travel to other countries will only be permitted if individuals have both up-to-date vaccines and booster doses. Citizens who do not meet all of these requirements will find that they cannot use their digital wallets to purchase airline tickets.
The Federal Reserve added ‘social control’ to its definition of money.
The next step toward gaining legality for CBDCs is for the Federal Reserve to send Document No. OP – 1670, titled “Federal Reserve Actions to Support Faster Interbank Settlement of Payments,” to the Board of Governors.
In this document, the Federal Reserve added additional items to the generally accepted definition of currency. Its three original properties are “unit of account,” “store of value,” and “medium of exchange.”
The Federal Reserve now says there is a fourth function of money, and that it is “a means of social control.”
wake up and get educated
The world appears to have reached one of the most critical moments in financial history. Social control will be implemented in our money. Once this is achieved there is no turning back. Bitcoin was created as a response to the Great Financial Crisis, when bank greed pushed the fiat-backed monetary system to the brink.
In other words, it’s not just about buying Bitcoin now. Most of the world’s population is sleepwalking into this cage from which there is no escape. Education about what is happening and your options is important. Freedom is at stake.
Disclaimer: This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.