War on Cash: The Next Phase - April 8, 2021, by James Rickards
"it has serious implications not only for your money, but for your privacy and personal freedom, as you’ll see today.'
Cash prevents central banks from imposing negative interest rates because if they did, people would withdraw their cash from the banking system.
Once all money is digital, you won’t have the option of withdrawing your cash and avoiding negative rates. You will be trapped in a digital pen with no way out.
Governments Won’t Surrender Their Monopoly Over Money
So central governments don’t want to kill the distributed ledger technology behind cryptos. They’ve been patiently watching the technology develop and grow — so they could ultimately control it.
Anyone who controls the money controls political power, the economy, and people’s lives.
CBCDs aren’t new currencies. They’ll still be dollars, euros, yen or yuan, just as they are today. But these currencies will only be digital; there won’t be any paper money or cash allowed. Only the format and payment channels will change.
There’s a dark side. If there is no cash, there is no anonymity.
Governments will know your whereabouts and habits at all times simply by tracking your use of funds through the CBDC payment system.
This can already be done, to some extent, by tracking credit card transactions, but the CBDC system will make state surveillance more pervasive.
Now, China wants to take its CBDC rules and make them the global standard.
Once China’s totalitarian surveillance software is perfected, they can make it the standard for much of the world and facilitate intrusive 24/7 surveillance by every dictator and autocratic leader in the world.
No doubt China would arrange to have access to the same surveillance information it was providing to client states. The end game would closely resemble George Orwell’s dystopian novel, 1984.
If cash is gone, there is only one way to escape digital surveillance of wealth — physical gold. "
WEF Warns Of Cyber Attack Leading To Systemic Collapse Of The Global Financial System
April 8, 2021, by Whitney Webb
"A report published last year by the WEF-Carnegie Cyber Policy Initiative calls for the merging of Wall Street banks, their regulators and intelligence agencies as necessary to confront an allegedly imminent cyber attack that will collapse the existing financial system.
More recently, last Tuesday, the largest information sharing organization of the financial industry, whose known members include Bank of America, Wells Fargo and CitiGroup, have again warned that nation-state hackers and cybercriminals were poised to work together to attack the global financial system in the short term.
Such coordinated simulations and warnings from those who dominate the current, ailing financial system are obvious cause for concern, particularly given that the World Economic Forum is well-known for its Event 201 simulation about a global coronavirus pandemic that took place just months prior to the COVID-19 crisis
a cyber attack would also provide the perfect scenario for dismantling the current, failing system as it would absolve central banks and corrupt financial institutions of any responsibility. It would also provide a justification for incredibly troubling policies promoted by the WEF-Carnegie report, such as a greater fusion of intelligence agencies and banks in order to better “protect” critical financial infrastructure.
Some of the solutions proposed are to be expected from a WEF-linked policy document, such as the calls for increased public-private partnerships and greater coordination among regional and international organizations as well as increased coordination between national governments.
However, the main “solution” at the heart of this report, and also at the heart of the WEF-Carnegie initiative’s other endeavors, is a call to fuse corporate banks, the financial authorities that essentially oversee them, tech companies and the national security state.
On that last point, there are indications this has already begun. For instance, Bank of America, the second largest bank in the US and part of the WEF-Carnegie Initiative and FS-ISAC, was reported to have “actively but secretly engaged” with US law enforcement agencies in the hunt for “political extremists” following the January 6th events at Capitol Hill. In doing so, Bank of America shared private information with the federal government without the knowledge or consent of its customers, leading critics to accuse the bank of “effectively acting as an intelligence agency.”
Yet, arguably the most troublingly part of the report is its call to unite the national security apparatus and the finance industry first, and then use that as a model to do the same with other sectors of the economy. It states that “protecting the international financial system can be a model for other sectors,” adding that “focusing on the financial sector provides a starting point and could pave the way to better protect other sectors in the future.”
Were all the sectors of the economy to also fuse with the national security state, it would inevitably create a reality where there is no part of daily human life that is not ultimately controlled by these two already very powerful entities. This is a clear recipe for techno-fascism on a global scale.
Given that these systems are set to be integrated with biometric IDs and so-called “vaccine passports” through the WEF and Big Tech-backed Vaccine Credential initiative, it is worth considering the timing of the expected launch of such systems in determining when this predicted and allegedly inevitable event is likely to occur."