Opinion from a Libertarian ViewPoint

Americans face a rapidly encroaching ’emergency’ CBDC power grab

Posted by M. C. on March 30, 2023

The ruling class may pursue a Hail Mary pass to restore their control over the system.

Now, for the people in charge, a Chinese Communist Party-like CBDC is becoming the “emergency” solution to restore their positions in the societal and monetary hierarchy.So it appears we are entering a consensus period that involves moving full steam ahead with the CBDC project. The “emergency” CBDC will inevitably becoming their “solution” to the crisis that our idiocracy fomented with their destructive monetary Ponzi scheme.

Jordan Schachtel

Mar 22

The American financial system is threatening to come apart at the seams, and for the people who control the levers of power, the only way to patch things up may involve the installation of a monetary Social Credit Score system. In recent years, America’s fiat fractional reserve system has transformed into a faith-based credit system, and the people who use the dollar are losing confidence in a system that relies entirely upon their complete and total trust. Should our collective faith in the system continue to decline, the American ruling class will decide that their path forward involves regrasping full control of their confidence scheme through the implementation of a Central Bank Digital Currency (CBDC).

A U.S. CBDC would do much more than simply implement a fully digital version of the U.S. dollar. This system could provide authorities with an almost unlimited digital toolkit to both surveil and censor citizens. A CBDC is advertised as making the system more “efficient” and helping to deliver monetary power to the unbanked. However, it would also give shadowy bureaucrats the power to swipe a “criminal’s” life savings, instantly distribute funds to allies of the system, among an almost infinite series of additional authoritarian instruments.

Over previous decades, when the United States stood tall as the world’s lone financial hegemon, there was never much of a reason to implement a dollar-based CBDC. After all, our political and financial elites had no reason to do so. There were no competing peers and zero superior monetary systems in sight (prior to the discovery of Bitcoin). These forces had full control over a system that empowered them with incredible prestige and power, and there was no reason to antagonize the billions of people who were somewhat contently operating within the confines of the system.

Watch the launch trailer for “FedNow” (US Federal Reserve’s official CBDC) 🤮👇

This is why I respectfully disagree with a lot of conservative and libertarian pundits, who have advanced the idea that the systemic issues in the financial system were the result of a purposeful, controlled demolition.

The government’s slippery slope to a CBDC is called FedNow. But I bet it’s a TOTAL coincidence that we’re having a massive banking crisis right before its release.

Why risk it when they already had the biscuit?

Additionally, top officials from current and previous administrations, along with Federal Reserve Board members, had previously described a CBDC as a largely unnecessary project.

For the forces that control our money, a CBDC had once been understood as too risky an endeavor, as it could act as too much of a stick and not enough of a carrot.

After all, the system was working as intended, as a means to reward the individuals and organizations closest to the money making machine and protect their immense, growing financial privilege.

In the past, when the going got tough, the people in charge could always create more money and use it bolster their control and devalue the power of everyone else. Unlike the more ambitious CBDC projects in continental Europe and Asia, the American power brokers never seemed to be super enthusiastic about the idea of the government (and government-sanctioned oligarch partners) having such a strong grip over the Dollar on/off switch. 

In recent weeks, however, times have changed. Wall St and Washington is backed into a corner, America is now faced with the prospect of a burgeoning financial contagion, and financial markets are showcasing global ramifications.

See the rest here

Be seeing you

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