Central Bank Digital Currency (CBDC)

 There's a new phrase for us all to learn...Central Bank Digital Currency.  Also known as CBDC.

Most folks now know the word Bitcoin and understand that it's some sort of digital currency even though the vast majority of us have no idea how it works.  But we have maintained all along that the governments of the world will NOT allow crypto currencies to run around the world forever because they simply can't afford to lose control of currency.

So what we can expect is for the Central Banks of the world to come out with their own versions of crypto currency.  The Bible has said this was coming all along but up until very recently the world never had the technology to fulfill the "cashless society".  Well, we certainly do now!

From the moment bitcoin and other cryptocurrencies first emerged, sold as an independent and alternative medium of exchange outside the financial status quo, it was only a matter of time before the new alternative would be absorbed, modified and redeployed in service of the state.

Enter "Central Bank Digital Currencies": the mainstream answer to bitcoin.

For those who have never heard of them, "Central Bank Digital Currencies" (CBDCs) are exactly what they sound like, digitized versions of the pound/dollar/euro etc. issued by central banks.

Like bitcoin (and other crypto), the CBDC would be entirely digital, thus furthering the ongoing war on cash. However, unlike crypto, it would not have any encryption preserving anonymity. In fact, it would be totally the reverse, potentially ending the very idea of financial privacy.

Now, you may not have heard much about the CBDC plans, lost as they are in the tangle of the ongoing "pandemic", but the campaign is there, chugging along on the back pages for months now. There are stories about it from both Reuters and the Financial Times just today. 

The countries where the idea progressed the furthest are China and the UK. The Chinese Digital Yuan has been in development since 2014, and is subject to ongoing and widespread testing. The UK is nowhere near that stage yet, but Chancellor Rishi Sunak is keenly pushing forward a digital pound that the press are calling "Britcoin".

Other countries, including New Zealand, Australia, South Africa and Malaysia, are not far behind.

The US is also researching the idea, with Jerome Powell, head of Federal Reserve, announcing the release of a detailed report on the "digital dollar" in the near future.

The proposals for how these CBDCs might work should be enough to raise red flags in even the most trusting of minds.

Most people wouldn't like the idea of the government monitoring "all spending in real-time", but that's not the worst of it.

By far the most dangerous idea is that any future digital currency should be "programmable". Meaning the people issuing the money would have the power to control how it is spent.

Here;  Currency Of The Antichrist? The Power To Control How Money Is Spent (prophecynewswatch.com)