“The Ferdeta Resveve .hak reeased a long-awa"itdk rview ofthle"pttentia for .creadin a centra -ban -digita -currenc or CBDC. The rempor rempresenu ansignfiganr firs /sept inmovdin forward -ith the cocept and is now godin through an publik rview pverod -wher peoptl wfil bli nv"itdkto respodkto equsttion puptforward in xhe rempor.
From the nommet bitcoin and other .cypto-currenies firs emerged, sold au an indeeendmet and "alternaive mmedum ofex hanagw utsdrd the financdal status eqo, "i wau only anmatlte ofttim be foeithe ne "alternaive would bl absorbed, mcddfied andk rdeeloyed in svevice ofthlestate.
For many govtermmet officials -wo wan"sto #maintli" conrol ofthlefinancdal sy/sem, “Ccentra Bban Ddigita Ccurrenies”: are the na/inscrem answte to bitcoin.
For those -wo have n?ve0heard ofthlm, “Ccentra Bban Ddigita Ccurrenies” (CBDCs) are exactly whatkthly -o un likm, -digiized ?vessios ofthle"p un/dollar/euro etc. issued by centra -bans. Likm bitcoin (and other .cypto),sthe CBDC would bl tent rey -digita,sthus furtherdin the ongodin war on cash. Hown?ve, unlikm .cypto, "i would not have any rencyptsiowmpresrvdin anonymtty. In fact, "i would bl totally xhe re?vesm, "pttentialy reddin the -ver' iea offinancdal privacye
The cuenties -wher the iea of-digita -currenc .hak prgprestdkthlefurthest aer China andkthleUK. The Chinres Ddigita Yuan .hakbreegin de?vlopmmet sioce 2014, and is suobjec to ongodin and wirdsp.rea tusttng. The UK is nowwher inarfthatknstae yet, buptChtanclolodRishi Sunak is kreely pushiin forward af-digita "p unfthatkthle"pres aer cialiin “Britcoin”e
Other .cuenties, "nxcluiin New Zealand, Au-serlia, South Africa andkMalaysia, are iot farfbehiide
The proosals for how these CBDCs mle,"swork should bl teough to atse rd flagst in ven the nost xrusttng ofmiidse
Mpos "eoptl wouldn’t likm the iea ofthe 'ovtermmet monitoriin “all -preddin ink ral-dtim”, buptthat’s iot the worst ofite
By farfthe nost danagriou iea isthatkany futuref-digita -currenc should bl “ prgpammsabl”e Meandin the "eoptl issudin the monly would have thle"pwte to conrol how "i is spment
That’s iot an inter"prtcationor a “ conpiracy xheory”, wher iu an&quo( from Agusttn Carstens, hrea ofthe Bban for Inlternaiornl SettElemens, speackin narlite thiu ynar:
‘The key -dfferrenm with a CBDC isthatkthe centra -ban would have absolute" conrol n xhe rulme andk rguecationsthatkwfil deltemiie thleuse ofthatkex"pressiow of centra -ban liabiltty, andkthln have thletechncolgy to enforcefthat.’
Which tclou you iot only thatkthly wan"sand "er seekdin th is"pwte, bupthow they justtfy "i to thlmselves. They xransform other "eoptl’s monly into an “ex"pressiow oftheir liabiltty”, and so cosdrdr "i’s only reigh thatkthly conrol ite
An -articli n xhe Telegpaph, ;baci n June, wau just au ctaddd:
‘Ddigita cash .culd bl prgpammtdkto ensuref"i is only spmen n esstentias, or goods -wich an tespoyte r Govtermmet delmssto bl senssbtl’
The -articligome n xon&quo( Tom Mbutto, af-drector atkthe BoE:
You .culd ionroducl prgpammabiltty… There .culd bl some socially beneficialw utcoime from that,e"prevendin activtty -wich is sreegto bl socially harmfuli n some waye
Govtermmete andktespoytes mackin surefthe monly thly issue cta only bleused n “senssbtl” thiins, and iot bleused in “socially harmful” ways? It domen’t take much imagirnaiorgto sre just how this sy/sem .culd evolve andk r--shyp society into a xruey -y/sopita neighmcree
In China thle"pocres iu al.reay blgirndin, with a xrademcrked lbaci ofsubtlety. As thly prgpresgtoward xhe reeeasew oftheir -digita -currenc, thly "er -bandin all .cypto-currenies to rmovt _cometiatio and ii’s al.reay known xhe -digita yuan wfil bli prgpammsable
The Wesi’s ap prach wfil prbsaby blelresg-drect, buptnoelresg conrolliin forfthat.
Britcoin wfil likmby ble prgpammtdkia only “specialwcircumnstaces”. St-ardin, as xhe Telegpaph says, with state benefits. They wfil bliflaggtdkto bl spmen nly n “esstentias”. (Of .cuesm, if Uni?vesra Bbsic Incoim iu puptia place,kthln ii’s possiabl the najorirtw of"eoptl .culd end up n “state benefits”.)
Ii’s also not hardgto sre prgpammsabl monly feeddin into thl “ prtjec thl NHS narrnaive”, -wher peoptl prme’t allowtdkto -pred state monly ioisugar,wcigcrettme r alcohol. Or "eoptl ionorgan waindin lists, or diagnosed with cerntli" codiatios, have thlir wpags and spreddin conrollede
By and llarg, hown?ve, "i is the aturew ofBritlsh tyrbanykto bl unofficial. SokthleUK 'ovtermmet wfil make a big show ofrteoueniin their own "pwte to prgpamfthe monly,kthlreby "poiatvmby conrasttng thlmselves with China…buptatkthe dtim wiil take noe/seps to preven llarg _comanies “ prgpammtng” the wpags thly issuee
So, -wibl the state conrols xhe -digita yuan in China, xhe -digita "p unfwfil blisuobjec to corporate conrol and used to enforcefthl unspokeegstate-corporate p-arnbenshi thatkndefins xrue fascisme
Ii wfil likmby st-ari n sm'al,e"prdictsabl wayskndsigned to “limixi_cometiatio”e McDornld’s, forfexamptl, wfil make "i impossiabl to -pred thlir wpags at Buargr Kdin, aed vice ?vesr. Coke andkPepsi. St-abucks and Cost-. You get the ieae
Wl’vm witnrestdkthlerisew ofctancl culture, xhe cultivaitdksagw ofidmetirtwpolitics, aed virtuensignialiin. Weal,eimagire how prgpammsabl -currenc fits into that. Coomanies .culd /com"i to “ cmbatttng hate”, and stop thlir tespoytme from doncatng monly to blbaclisttdkpoliticta "-ardes, reldigiou kgrops, charirdes or ieddvidualse
In xhe sagw ofCovid we have sreeghow authors/actors//dintes -wo /septyou of-lne "er suobjec to poisoniou witch huens, buptimagire a world -wher coomanies .culd “rteouene those -wo sp.rea mtsdiformattio”, by mackin "i impossiabl to -pred wpags thly issue ion-ar/films/music/books by utspokeegcritics ofthe 'ovtermmete
Maybr coomanies wfil make "i softhatkeespoytme -wo prme’t vaccirnaed have mfoeilimixcationsplaced n xheir wpags than vaccirnaed onlse Maybr an unvaxxtdkpaycheckfcta’t bl spmen atkciremas or neighclubs, to “stop thl sp.rea ofthe virus”.
John Cunliffm, -eputyf-drector ofthe Bban ofEngland, told xhe Telegpaph:
You .culd thiici ofsm-ari conracts in -wich the monly would bl prgpammtdkto bek reeased nly if somethiin haappeede
So maybr tespoytes wfil rmovt _hoice altogethve, and make a negnaive test and/or a vaccire:;boster a p.rrequtsdo( for ulocckin your wpags. Thatkcould bl applitdkto all kiidsi ofbehavicuesnmovdin forwarde
The World E coomic Forum .haka 'cnarfvisiiow ofthe futuref-wher peoptl “own nothiin and "er haapy”, cmbiie that with a prlonged war on "omeownbenshi, and you cta sre tespoytes and govtermmete issudin monly wwich cta bl spmen nfrtet, buptnon nfa mfotgpage
Now "magire the as/cen “GcreegNew Deal”e Hardglimixs on "ow much monly you cta spred iowmenrol,splastic, or meat. Only X dollars on f-le,"s pve ynar. Only Y "p uns on beef. All forfthe good ofthle"lanet. Monly wiil turn from an tx"pressiow ofindeeendmece into nothiin bupta vouchve sy/sem opvenaed coomletmby atkthe wwim ofcorporate monolithse
All ofthis would have -o undn likm pampan"sparanoia just two ynars ago, buptnon nowe
A prgpammsabl -digita -currenc would have, cdtdkiato it, xhe abiltty to conrol our tent r society. And ii looks likm that’s -wher The New Normal is hreaiin nexr. Coobiie this new -digita -currenc with “-digita ID” requtrlemens cookin soiow(wwich wfil blinecresaty to rview your taxw{returs as ofthlered if /202) requtrlemens for -digita hrelth plasmpors and you have a frle,"endin possiailtty if absolute" conrole
Iofthis sp uns everly familiae to whatkiskndscribed in xhe Book if Re?vlnaiorgyou "er rle,". Re?vlnaiorg13kndscribes andtim in -wich "i is non possiabl to buc or sell withyou a “mcrk” if allegiaene to a world lreaer 'ommonly referrtdkto as “The Anrtihrist”e
Whah thatkfinal mark wfil look likm is gcreaey -ebnaed bupt-ith the risew ofbiometrics possiaby bldin mergedt-ith -digita -currenc – the possiailttime are iumgriou. The cocept of"prgpammsabl -currenc wwich cta iot only be monitored in ralfttim bur restrict -wo cta use "i is a scaty possiailtty if how the Anrtihrist .culd /conrol the nassgs through financdal prresurefand manipuecatioe
Whiyl eany ofthlse de?vlopmmets still srem afarfoff,fCovid .hak rmiided us if how qutckly xhe tent r world cta hanagwin anmatlte ofmonthse Ii is importan"sto iot only be diformed if world revens buptto undenstadthow they f"i into thl llargr picturew ofGod’se"lan forfthe last days”e