On Monday, the Bank of England announced it will hide the identities of any pension funds, insurers or hedge funds bailed out to avoid the stigma. This new policy of secrecy to protect banks’ identity will begin in 2025 when the central bank launches its Contingent NBFI Repo Facility.
Also in 2025, the final parts of Basel III will be implemented. Basel III introduces bail-ins, where account holders rather than the government bail out a failing bank.
But that’s not all. In the “second half of this decade,” i.e. any time from 2025, is “the earliest” the Bank of England would issue a central bank digital currency.
In the past, wars and oil embargoes have been used to justify implementing new global financial systems. Could we be seeing signs they are preparing for a crisis that they won’t let go to waste?
Hellbound and Down 