Tag: war on cash

FED Chairman Jerome Powell Met with FTX’s SBF in February 2022 When the FED Was Examining a Federal Digital Currency

The FED’s Jerome Powell met with then CEO and founder of FTX, Sam Bankman-Fried (SBF) in February 2022.  This was the same time that the FED was examining the implementation of a federal digital currency. 

FTX’s founder SBF is sleeping in his parents’ basement after being rated one of the youngest billionaires in the world.  The former crypto king is now facing nine counts by the DOJ in the Southern District of New York related to defrauding its customers.

During his incredible rise, SBF was meeting some of the world’s top financial operatives.  In February of 2022, SBF met with FED Chairman Jerome Powell.

It’s unknown what was shared at this meeting but a short time later in June 2022, the FED announced its plans to develop a central bank digital currency.

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Techno-Authoritarianism Is Here to Stay: China and the Deep State Have Joined Forces

“If this government ever became a tyranny, if a dictator ever took charge in this country, the technological capacity that the intelligence community has given the government could enable it to impose total tyranny, and there would be no way to fight back.”—Senator Frank Church

The votes are in.

No matter who runs for office, no matter who controls the White House, Senate or the House of Representatives now or in the future, “we the people” have already lost.

We have lost because the future of this nation is being forged beyond the reach of our laws, elections and borders by techno-authoritarian powers with no regard for individuality, privacy or freedom.

The fate of America is being made in China, our role model for all things dystopian.

An economic and political powerhouse that owns more of America’s debt than any other country and is buying up American businesses across the spectrum, China is a vicious totalitarian regime that routinely employs censorship, surveillance, and brutal police state tactics to intimidate its populace, maintain its power, and expand the largesse of its corporate elite.

Where China goes, the United States eventually follows. This way lies outright tyranny.

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The digital euro may have spending limits

Fabio Panetta, an Executive Board Member of the European Central Bank (ECB), has proposed that users of the digital euro should only be allowed to spend €50 per transaction and have a maximum monthly spending limit of just €1,000 if they want to avoid having their transaction data recorded by the ECB.

The digital euro is the European Union’s (EU’s) proposed central bank digital currency (CBDC) and officials involved with the project have already confirmed that it will have less anonymity than cash.

But during an appearance at a “Towards a legislative framework for a digital euro” event (which was jointly organized by the European Commission (EC), the executive branch of the EU, and the ECB), Panetta and other officials discussed further restrictions that they hope to impose when the digital euro rolls out.

Panetta proposed that the ECB should be able to see data on payments between digital euro users but that it wouldn’t hold personal data about those users. He indicated that the only way for digital euro users to possibly avoid having their payment data recorded would be to stick to “very small value payments.”

“If we allow users to do transactions up to say €50 with a maximum…volume of transactions in a given timeframe that is monthly not more than €1,000…transaction not more than 50, then one might discuss that this could not be recorded but this is a discussion which would take place,” Panetta said.

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Central Bank Digital Currencies Would Let Governments Control What People Spend Money On: IMF Official

The International Monetary Fund (IMF) has said that central bank digital currencies (CBDCs) could potentially allow a government to control what people spend their hard-earned cash on.

Speaking at the IMF-World Bank annual meeting on Oct. 15, Deputy Managing Director Bo Li said that a CBDC could improve “financial inclusion” through programmability.

“A CBDC can allow government agencies and private sector players to program, to create smart contracts, to allow targeted policy functions,” Li explained. “For example, welfare payments, for example, consumption coupons, for example, food stamps.”

“By programming CBDC, that money can be precisely targeted for what kind of people can own [CBDC] and for what kind of use this money can be utilized, for example for food.”

Li, who stepped into the role of deputy managing director at the IMF on Aug. 23, 2021, added that by allowing the government to precisely target what people need, this will enable said government to “improve financial inclusion.”

However, his comments were quick to garner a reaction from experts, including Nick Anthony, a policy analyst at the Cato Institute’s Center for Monetary and Financial Alternatives.

Anthony wrote on Twitter that the IMF executive’s comments revealed how a CBDC would “allow the government to precisely control what people can and cannot spend their money on.”

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The digital dollar will not be anonymous, Federal Reserve chair Jerome Powell says

Despite privacy being one of the main concerns citizens have about central bank digital currencies (CBDCs), the heads of the United States (US) Federal Reserve and European Central Bank (ECB) have confirmed that their respective CBDCs will not be anonymous.

During an appearance at a Banque de France (Bank of France) event, the chairman of the Federal Reserve, Jerome Powell, said if the US were to pursue a central bank digital currency (CBDC), it would be “identity verified” and “not anonymous.”

“We would be looking to balance privacy protection with identity verification, which…has to be done, of course, in today’s traditional banking system as well,” Powell added.

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Israel begins its war on cash

Starting August 1, Israelis will not be able to make cash and bank check payments above 6,000 Shekels. According to the country’s Tax Authority, the law is meant to combat tax non-compliance, organized crime, and money laundering.

“We want the public to reduce the use of cash money,” said Tamar Bracha of Israel’s Tax Authority, speaking to The Media Line. “The goal is to reduce cash fluidity in the market, mainly because crime organizations tend to rely on cash. By limiting the use of it, criminal activity is much harder to carry out.”

But some critics have rejected the argument that the law reduces cash in the market.

“We were in the discussions about the bill. The data we brought showed that since the first phase of the law was in effect, the amount of cash on the market only increased. So clearly, something’s not working,” said Uri Goldman, a lawyer who represented plaintiffs who opposed the law in 2018.

Goldman further noted that over one million people in Israel do not have bank accounts. As such the law “would prevent them from conducting any business and would, practically, turn 10% of the population to criminals.”

The new law prevents cash and bank check payments over 6,000 Shekel to a business. Transactions between citizens (not business) are limited to 15,000 Shekel.

There are two exceptions to the law; transactions with Palestinians in the West Bank and charitable institutions.

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Canada Freezing Bank Accounts is Child’s Play Compared to the Coming ‘Central Bank Digital Currency’

It is not a conspiracy theory. Earlier this month, Canada’s Prime Minister began freezing the bank accounts of protesters who stood against tyrannical mandates and arresting them. Not only did they go after the protesters, but the government went after the bank accounts of those who provided monetary support in the form of donations as well.

For practicing their free speech, Canadians were persecuted and driven into financial ruin by the government who claims to protect them. This was all carried out with zero due process and without any democratic input at all.

Last week, holding no punches Deputy PM Chrystia Freeland announced that “…all crowdfunding platforms and the payment service providers they use must register with Fintrac, and they must report large and suspicious transactions to Fintrac.” This, she said, is a way to “mitigate the risk” of “illicit funds” and “increase the quality and quantity of intelligence received by Fintrac and make more information available to support investigations by law enforcement.”

When the American political class watched as the Canadian government began financially persecuting individuals for their freedom of speech, it was crickets from the mainstream. This was one of the most tyrannical moves in recent Western history and instead of standing against it, the establishment actually supported it.

In fact, a poll by Trafalger Group for Convention of the States recently found that a super-majority of Democrats, 65%, actually thought Trudeau’s authoritarian move to arrest people and confiscate their life savings — for practicing their freedom of speech — was a good thing.

Just 17% of the establishment left disapproved of it.

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