CBDCs (Central Bank Digital Currency) is Coming Sooner Than We Think

We know lots of folks have made a ton of money buying crypto currency like Bitcoin and Dogecoin.  However, we have never dipped our toe into that water because we know that the governments of the world will never allow them to function in the long term.  At some point they will go after them and make them all go to zero.

"But Dennis!  That's crazy talk!  I love Bitcoin and my coins are worth 1000% more than when I bought them!"

Think of it this way;  Let's say that you, me and 4 of our friends decided we wanted to make a different currency and we promised to back it by gold.  We then printed Lingo Bucks and we each took $5000 in our newly printed currency and started using this paper money amongst us and brought in all of our friends as we could.  If they brought gold to the Lingo Bank we would give them paper Lingo Bucks in exchange.

Question;  HOW LONG DO YOU THINK THE FBI WOULD ALLOW THAT??  Ummmm....about a few minutes because the Counterfeit Task Force would be on us like flies on poop.

Why do you suppose Crypto Currency is going to be treated any different?

The government allowed Bitcoin to function because it didn't really understand what it was.  But also they wanted the private sector to figure out what works and what doesn't so they could steal that information and use it for themselves.

I believe that day has come.  And of course it will be a HUGE step in the direction of "every man needed a mark on his right hand or forehead in order to buy or sell."

Once the government has crypto and can see every transaction made they will be in total control.

First off, HERE is the WHITEHOUS ANNOUNCEMENT

The digital assets market has grown significantly in recent years. Millions of people globally, including 16% of adult Americans, have purchased digital assets—which reached a market capitalization of $3 trillion globally last November. Digital assets present potential opportunities to reinforce U.S. leadership in the global financial system and remain at the technological frontier.  But they also pose real risks as evidenced by recent events in crypto markets. The May crash of a so-called stablecoin and the subsequent wave of insolvencies wiped out over $600 billion of investor and consumer funds.

President Biden’s March 9 Executive Order (EO) on Ensuring Responsible Development of Digital Assets outlined the first whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology. Over the past six months, agencies across the government have worked together to develop frameworks and policy recommendations that advance the six key priorities identified in the EO: consumer and investor protection; promoting financial stability; countering illicit finance; U.S. leadership in the global financial system and economic competitiveness; financial inclusion; and responsible innovation.

The nine reports submitted to the President to date, consistent with the EO’s deadlines, reflect the input and expertise of diverse stakeholders across government, industry, academia, and civil society. Together, they articulate a clear framework for responsible digital asset development and pave the way for further action at home and abroad. The reports call on agencies to promote innovation by kickstarting private-sector research and development and helping cutting-edge U.S. firms find footholds in global markets. At the same time, they call for measures to mitigate the downside risks, like increased enforcement of existing laws and the creation of commonsense efficiency standards for cryptocurrency mining. Recognizing the potential benefits and risks of a U.S. Central Bank Digital Currency (CBDC), the reports encourage the Federal Reserve to continue its ongoing CBDC research, experimentation, and evaluation and call for the creation of a Treasury-led interagency working group to support the Federal Reserve’s efforts.

Here;  https://www.whitehouse.gov/briefing-room/statements-releases/2022/09/16/fact-sheet-white-house-releases-first-ever-comprehensive-framework-for-responsible-development-of-digital-assets/

And HERE is another analysis quoting some large figures close to the source;

The White House published a "comprehensive framework" on Friday attacking decentralized cryptocurrencies while promoting a U.S. government-controlled programmable Central Bank Digital Currency (CBDC), per an official press release.

Agencies that were chosen to lead the ongoing working group for the research and possible development of a CBDC include the Federal Reserve, the National Economic Council, the National Security Council, the Office of Science and Technology Policy, and the Treasury Department.

CBDCs are digital currency issued directly from a nation-state’s central bank and serve as legal tender.

Critically, CBDCs are controlled by governments and therefore represent the polar opposite of the ideas — decentralization, open-source software, permissionless, peer-to-peer transactions — that made Bitcoin and other cryptocurrencies such a revolutionary technology.

As you can guess, CBDCs will be tied to user identities and Digital IDs, which will allow for total surveillance by the State and eliminate any chance of financial privacy.

According to the Atlantic Council’s Central Bank Digital Currency Tracker, 112 countries, representing over 95 percent of global GDP, are exploring a CBDC.

11 countries have already launched a digital currency including Nigeria and numerous Caribbean nations.

14 countries are testing pilot programs including South Korea, Thailand, Saudi Arabia, Sweden, and China which is set to expand its use of the Digital Yuan in 2023.

Anthony Pompliano, an American entrepreneur, investor, and Bitcoin evangelist wrote last March that “central bank digital currencies will be one of the greatest violations of human rights in history.”

“Central bank digital currencies remove the privacy and decentralized nature of physical cash,” Pompliano explained. “It creates an environment where central banks have complete control over every aspect of a citizen’s financial life.”

“These central bankers will be able to see what is in your bank account, who you transact with, what you purchase, and anything else they are curious about in your financial life,” he wrote.

“That full transparency with the state removes all elements of privacy, while also giving the institutions the ability to censor any and all transactions, regardless of whether they have a legitimate reason or not.”

Pompliano’s comments mirror those made by the president of the Federal Reserve Bank of Minneapolis Neel Kashkari who, speaking at a panel hosted at Columbia University, said that he had no idea what problem centralized digital currencies solved for American citizens.

“What is it that a CBDC can do that Venmo can’t do?” Kashkari asked. “Well, I can see why China would do it.”

“If they want to monitor every one of your transactions, impose negative interest rates or directly tax customer accounts,” he said. “You can do that with a Central Bank Digital Currency, you can’t do that with Venmo.”

Robert Kiyosaki, the author of the personal finance book, ‘Rich Dad, Poor Dad’ had scathing criticism for the idea of introducing CBDCs.

Kiyosaki referred to the Executive Order 14067 signed by the Biden White House in early March that established the government’s position on creating a CBDC as the “most treasonous act in U.S. history” in a tweet that he posted on July 17th.

In addition, Kiyosaki went as far as to declare the establishment of CBDCs to be “communism in its purest form.”

Here; https://kanekoa.substack.com/p/central-bank-digital-currencies-are

When you see this event coming fast, how can it not make you think of what Jesus said, "when you see all these things BEGINNING to happen then lift up your heads for your redemption is near."

Honestly, we've said this before but it's a little bit like living in the Twilight Zone watching all this crazy stuff make the headlines and yet all your friends and family are walking around staring at their phones, absolutely CLUELESS to what is going on!

And of course we believe it's because only folks with the Holy Spirit can actually read prophecy and see how it relates to today.

"Oh come on!!  You and all your stupid conspiracy theories!!  Since the beginning, things have always been like this!  People are still buying groceries and going to weddings.  The stock market goes up and down.  Winter follows fall and spring follows winter.  Just because some quacks have read some old book saying a man whose been dead for 2000 years is coming back to earth??...that's about the most unscientific thing I have ever heard in my life!!  No wonder all your Bible readers deny the science of Covid vaccines!!"