Tag: the war on cash

G20 Announces Plan to Impose Digital Currencies and IDs Worldwide

The leaders of the Group of 20 nations have agreed to a plan to eventually impose digital currencies and digital IDs on their respective populations, amid concern that governments might use them to monitor their people’s spending and crush dissent.

The G20, which is made up of the world’s leading rich and developing nations and is currently under India’s presidency, adopted a final declaration on the subject over the weekend in New Delhi.

The group announced last week that they had agreed to build the necessary infrastructure to implement digital currencies and IDs.

While the group said that discussions are already underway to create international regulations for cryptocurrencies, it claimed that there was “no talk of banning cryptocurrency” at the summit.

Many critics are concerned that governments and central banks will eventually regulate cryptocurrencies and then immediately replace them with central bank digital currencies (CBDC), which lack similar privacy and security.

Indian Finance Minister Nirmala Sitharaman said that discussions are underway to build a global framework to regulate crypto assets because they believe that cryptocurrencies can’t be regulated efficiently without total international cooperation.

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US House Committee publishes draft bill that would call for the exploration of CBDCs

The House Financial Services Committee has published a draft bill that would regulate stablecoins. The bill proposes a moratorium on stablecoins backed by other crypto assets until a study is conducted and requests a study on a central bank digital currency (CBDC).

The bill follows two major incidents involving stablecoins over the past year. The first was the fall of terraUSD (UST), which was backed by the LUNA token, and the second was the USD coin (USDC) temporarily not being backed by the dollar.

The moratorium on stable coins would last until a study is conducted.

The bill also calls for confidential briefings on, “implications for CBDCs, foreign and potentially from the United States, of the engagement of these organizations and governments in developing the standards being used or to be used for CBDCs.”

The bill further states that “the Secretary shall consider the following standards,” and one of those is, “interoperability among CBDCs and other public and private elements of the financial system.”

Finally, it adds that the “convertibility and availability for users, including methods by which users will hold and use CBDCs,” should also be explored.

We obtained a copy of the draft bill for you here.

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Biden takes big step toward government-backed digital currency

A U.S. digital currency could be on the horizon.

The Biden administration is putting its support behind the research and development of a “U.S. Central Bank Digital Currency,” or CBDC.

The move is part of a sweeping executive order President Joe Biden signed Wednesday instructing the federal government to explore possible uses of and regulations for digital assets like cryptocurrencies.

“My Administration places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC,” the executive order reads.

The order asks for a wide variety of agencies to begin research and submit reports on a variety of issues surrounding digital currencies, from design and security to financial and societal impacts.

“We know the implications of potentially issuing a digital dollar are profound. They’re extraordinarily wide-ranging,” a senior administration official told reporters on a call Tuesday.

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7 Things That Used to Be “Crazy Conspiracy Theories” Until 2020 Happened

Remember back in the old days of, say, 2019, when anyone who talked about microchip implants, Americans being forced to show travel papers, and re-education camps was thought to be a crazy conspiracy theorist? And then 2020 rolled around and voila! It turns out those conspiracy theories weren’t so “crazy” after all.

And I’m not just talking about the government releasing info about UFOs.

We’re living in a time when someone will attempt to beat the crap out of you, burn your house down, or even kill you if you voted for the “wrong” presidential candidate. We’re being subjected to curfews, our movement is restricted, and our businesses have been forcibly shut down. One day, people will look back on this as the year that everything changed – or depending on how Americans respond to the mandates – the year we finally said enough.

Here are seven things that were considered crazy conspiracy theories…until now, when they’re becoming far too real.

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