Global CBDC development is going strong – and proto-digital currencies are being used to “help” some of the most vulnerable people on the planet. While some populist politicians are shouting down CBDCs, there is a strong movement against their implementation.
Central bank digital currencies (we call them Central Bank Dystopian Control – you’ll notice the ‘s’ is missing) are a new way of using the idea of money to control populations. The technocratic class loves them – which means you should run for the hills if you see them coming.
The crypto rally in the fourth quarter and the second McTrumper administration dominated the headlines into the end of the year – but as 2025 expires – it’s time to check in with the controller class – and their plans for global financial dominance across the spectrum via CBDC.
We have your best interest in mind
It should come as no surprise that money-center zombie banks as Deutsche Bank are totally uncritical supporters of CBDC. In an update for the fourth quarter of 2024, the bank cited a report that indicated an overall adoption rate of 6% of the Nigerian eNaria was slower than expected.
Well duh. Nobody wants this $#!t.
The absence of any real discussion surrounding eNaria’s total failure is glaring. There were riots when Nigeria tried to force its population to use CBDC via banknote demonetization in early 2023. At that time, about 0.5% of the population jumped into eNaria.
Even with the demonetisation of notes – starting March 2024 – eNaria accounted for about 0.36% of the “currency” in circulation.
What a spectacular failure!
Years have passed and no one wants to CBDC garbage in Nigeria!
You know the expansion of eNaria cost a lot of money (which comes from the public) and nobody wants that godforsaken garbage. Even after 1/3 of 1% of the circulating currency in Nigeria was dominated by eNaria – the benevolent controller kept the system going.
There is NO WAY eNaria creates value. But that is the nature of our centrally planned global economy. CBDC is an example of where we are going – much faster than most people imagine.
The Thunder Down Under
Anyone interested in participating in a CBDC pilot program?
Thank goodness you missed your opportunity – the one call closed on December 11.
Called Project Acacia – the Reserve Bank of Australia’s project will spawn a wholesale CBDC, as well as a tokenized deposit system. Sounds like full spectrum financial dominance to us.
At the moment it is only a pilot project, but given the shift to much more social control in the West – this could be a model for the money to come.
According to RBA Deputy Governor Brad Jones, the project will, “examine how innovation in wholesale markets can be enabled by new forms of digital money and supporting infrastructure. The role that tokenized asset markets can play in improving the efficiency and resilience of wholesale payments and settlements, and in improving cross-border payments, are areas of particular interest.”
So there you go. A new monetary system that empowers the technocratic elite – and puts the common person on a much weaker footing when it comes to privacy and control of their assets.
It will take time to set up the system – especially if it is to work across national borders. The model used by Project Acacia maintains the role of retail banks, which may or may not change as the global financial system sinks lower into the abyss.
A control agent!
Money changes. In its current form, Western money is a product marketed by central banks and governments. In the world of CBDC – money is a system of control – plain and simple.
The difference between modern fiat currency and a CBDC is not great from a technical perspective. All money is digital. There is nothing that physically backs up money. However, there is still physical money. Cash available.
In a CBDC world – cash is likely a relic of the freedom-loving past!
We have spent time in Argentina where the digital payment ecosystem is spreading like wildfire. Fun fact – due to some of the highest inflation in the world – the largest note on offer is worth around $9. They say an $18 bill is in the works – but we’ve never seen one.
The most common bill used on the street in Argentina is worth around $0.90 – which makes paying for a decent meal a bit of fun. It’s something out of Scarface.
Would you like fries with that?
Inflation is baked into the equation now, so what happens in Argentina today is likely to play out on a global scale for years to come. Forcing people to adopt CBDC will be easy when you have no choice – you won’t be able to use the old cash – it’s not worth enough to buy an empanada!
Of course, any new digital money in your CBDC wallet can be directly controlled by the government, banks or whatever technocratic regime is in power. So you will only buy these empanadas if they let you!
Exploit the weak
You may have noticed the war and upheaval around the world. Ukraine is a hot spot that doesn’t seem to be getting any better. It is also a site where the United Nations is using the Stellar blockchain to test a blockchain-based “cash” distribution program for people affected by the war.
The UNHCR taps Stellar to send USDC to displaced Ukrainians. While the idea of helping people affected by war is great, the risks that come with this system are enormous. Privacy comes to mind, as does the ability to use USDC freely.
Currently, the pilot program will allow recipients to withdraw USDC in cash at MoneyGram locations – which is good – although this may be due to the fact that digital payment infrastructure in Ukraine is not sufficient to meet the needs of recipients.
As soon as the digital payment infrastructure is in place, things can change. Such is the case in China, where it is difficult to spend money.
Tourists learn how quickly digital payment infrastructure was adopted in the Chinese economy after COVID19. In fact, cash is not welcome across the Middle Kingdom – leaving anyone without local digital payment apps in trouble.
The apps are open to Chinese citizens – but getting into the platforms (like WeChat Pay) is difficult if you’re a tourist. Oh, and you have to give the CCP open access to your digital life. No cheap street noodles for you!
The shift away from cash in China was apparently voluntary, as acceptance of physical money is still required by law in the country. Regardless, it shows how easily cash can be completely marginalized once the digital payment infrastructure is up and running.
No demonetization needed!
The Global CBDC Prison
Once the global CBDC prison is operational – it will be much more difficult to break out!
Now is the time to recognize this threat to human freedom and take action to avoid being locked into a system that takes away your ability to own money. The accounts you will be offered in a CBDC system will be convenient – in much the same way solitary confinement is a simple life.
Decentralized money like Bitcoin is part of the solution, but make sure you have some other options as well. Physical metals also make a lot of sense – just in case the power goes out for a few days. Or weeks. Or however long the technocratic planners deem necessary to force the population into a new financial system.
Although there are no ETFs for the assets, it is worth remembering that chickens lay eggs and apples grow on trees!
