I would suggest everybody read and reread "1984." When you control everything you control nothing. So you have copies of all communications in the country and what do you do with them? Sift through all the chaff to pick up something useful? Do you round up 200 million Americans and put them....where? So you have total and perpetual control over the government, but have no way of dealing with 300 million plus 'proles.' They go about their life ignoring you as much as possible, and you in Washington go about your lives feeling smug and superior, with no real control over the masses. If it gets really bad, the 'proles' will construct a 'main street' economy over which the government will have no control. My guess is the proles in "1984" had none of the shortages the lower echelons of the ruling class were subject to. That is the worst case scenario where we will have lost our government permanently. Given the stupidity of our current ruling class they have antagonized needlessly most of us and made our lives worse, and as they keep on failing to govern intelligently their days may be numbered.
Anyone who thinks that CBDCs aren't totalitarian hasn't looked at Canada and the Freedom Convoy, when God-Emperor Trudeau used the Emergency Act to lock the truckers out of the banking system.
I don't doubt that this was also discussed with regard to J6. The FBI has been compiling a list of enemies of the state with the aid of "private" actors like Facebook.
I fear CBDC is not about control. but about running an economy when we are bankrupt. It is the government's bitcoin, with the possibility (probability?) of a currency totally out of control. Under the current system the debt is out of control, but it exists. Authorizing a token currency, created at will......the possibilities are endless.
"The digital yuan is programmable to the point that the currency can be made to expire, thus forcing consumers to use it up by a certain date. " Just do a web search for "china digital currency expiration date," plenty of reporting on this feature/not a bug.
It's the next manufactured 'crisis'. I think its clear now that multiple strategies are in play from The Left, but are basically grounded in Cloward-Pivens and Saul Alinsky.
Biden and his handlers are following Obama's playbook of forcing political change through orchestrated crisis, after crisis, after crisis with CBDC next in line.
The “Cloward-Piven Strategy” basically aims to speed up the fall of capitalism by overloading the government bureaucracy with a torrent of demands - most of which are inpossible for the sysytem to handle - consequently pushing society into crisis and economic collapse.
Ultimately I think this push to total control will work, for about 1/2 the country: those who have been indoctrinated to follow.
When that 50% that is ungovernable becomes a problem, then it will simply be exterminated-in order to save the country. They called them purges, pogroms or, if that’s too ham handed for folks, then they’ll call it a cultural revolution— has kind of a nice ring to it.
Make no mistake about it, those of us who are considered “deplorable” “clingers”, will be on the short list for the reeducation camps, only they won’t be reeducation camps.
Mark - thanks as always; you featured so many of Luongo's materials that we ultimately joined his pay-only group; one of his main points is the Fed is against the CBDCs because the commercial banks that own the Fed view it as a threat to their existence (eg, won't the use of CBDC eliminate the banks?). How do you square those 2 views?
Yes, you're welcome. That's what gives us some hope. There's very little political opposition that I can see. However, when I was doing the searches that gave me the Forbes article I came across quite a few references to Fed doubts or open opposition. I was trying to find a story from a month or so ago in which a Fed official (Minneapolis?) came right out and said: The only point is control.
saw that same quote and likewise it gave me hope; it was revealed by kaneokathegreat (sp?) with this:
Pompliano’s comments mirror those made by the president of the Federal Reserve Bank of Minneapolis Neel Kashkari who, speaking at a panel hosted at Columbia University, said that he had no idea what problem CBDCs solved for Americans.
“What is it that a CBDC can do that Venmo can’t do?” Kashkari asked. “Well, I can see why China would do it.”
“If they want to monitor every one of your transactions” “impose negative interest rates” or “directly tax customer accounts,” he said. “You can do that with a Central Bank Digital Currency, you can’t do that with Venmo.”
thinking, he would only say that publicly if his boss JP agreed, and likely/hopefully the other similar regional bankers thought the same; we try to caution ourselves not to follow Luongo because we hope he's right, but because the facts back him up.
One of the voices warning about CBDC's has been Catherin Austin-Fitts who writes for the Solari report. Here is an older video that was posted on "The Burning Platform" in August 2021 discussing this in a 49 minute video. It's worth listening to and is pretty frightening.
Forbes - similar to Mark, my background is in law and am on thin ice trying to fully digest these banking/financial issues; but have understood the control goal behind the CBDC push for a year or so, and how it could change things here in US quite dramatically and possibly irreversibly; but it seems that having our Fed against the CBDC push would preclude it from proceeding no matter how the 'davos crowd' and our own deep state want it; so my Q is, despite the chatter about the dangers it presents and the areas where it is gaining ground, so long as we have our Fed Chairman and the regional bankers blocking it, it seems to be a far-off risk here. But, as noted, this topic is foreign to me so education is welcome.
As a really simplistic answer, the Fed is authorized as the central bank of the U.S. by legislation rather than explicitly by the Constitution (although the "necessary and proper" clause of the Constitution was successfully appealed to as the basis for establishing a central bank). So, theoretically the Fed as currently constituted could be removed by legislation and its functions and authority assigned to some other organ of the federal government (which might not even exist now).
Forbes is correct in his comment below that as of now we have no idea how a CBDC would function, who would regulate it, and how it would replace the current federal reserve and commercial banking system. That does not mean such a system could not be formulated and passed into law at the federal level. By its very nature a CBDC would obviate the need for commercial banks, and the commercial banks are the shareholders in (owners of) the Fed. That is the source of the Fed's "reluctance" to sanction either the idea or the need for a CBDC.
Given the federal government's unparalleled ability to mess things up just the attempted transition to a CBDC likely would totally destroy our national economy (wholly apart from the issues of totalitarian control it might enable). That said, it would have to be a total command and control economy for it to work - which means essentially no more private companies or private ownership.
Forbes - thanks for that, it was educational, to hear how the Fed was reacting to legit chaos in markets and its help did indeed avert greater harm; but then how do people like John Titus (Catherine Fitts' expert on banking/legal issues) paint the Fed in such broad evil or 'effecting a takeover...' terms without much middle ground; and then lay on top T.Luongo's take how the Fed is a white hat with the only hope we have to break the US from the Davos/WEF crowd. Or then there's the crowd who contends the Fed is off-base and ignoring key stats that would warrant a different approach. I do appreciate the link, the article was straightforward, informative.
Luongo doesn't say the Fed is a White Hat. He says that at this moment in history they're the enemy of our worst enemies. You can get a flavor for that from Jamie Dimon's testimony yesterday--mixed bag, but more or less on our side for the short term.
I would suggest everybody read and reread "1984." When you control everything you control nothing. So you have copies of all communications in the country and what do you do with them? Sift through all the chaff to pick up something useful? Do you round up 200 million Americans and put them....where? So you have total and perpetual control over the government, but have no way of dealing with 300 million plus 'proles.' They go about their life ignoring you as much as possible, and you in Washington go about your lives feeling smug and superior, with no real control over the masses. If it gets really bad, the 'proles' will construct a 'main street' economy over which the government will have no control. My guess is the proles in "1984" had none of the shortages the lower echelons of the ruling class were subject to. That is the worst case scenario where we will have lost our government permanently. Given the stupidity of our current ruling class they have antagonized needlessly most of us and made our lives worse, and as they keep on failing to govern intelligently their days may be numbered.
Anyone who thinks that CBDCs aren't totalitarian hasn't looked at Canada and the Freedom Convoy, when God-Emperor Trudeau used the Emergency Act to lock the truckers out of the banking system.
I don't doubt that this was also discussed with regard to J6. The FBI has been compiling a list of enemies of the state with the aid of "private" actors like Facebook.
I fear CBDC is not about control. but about running an economy when we are bankrupt. It is the government's bitcoin, with the possibility (probability?) of a currency totally out of control. Under the current system the debt is out of control, but it exists. Authorizing a token currency, created at will......the possibilities are endless.
endless possibilities only as long as this system or any system has electricity..without which nothing functions..nothing..
Great news! When things fall apart we'll just blame the electric companies...and Trump.
"The digital yuan is programmable to the point that the currency can be made to expire, thus forcing consumers to use it up by a certain date. " Just do a web search for "china digital currency expiration date," plenty of reporting on this feature/not a bug.
It's the next manufactured 'crisis'. I think its clear now that multiple strategies are in play from The Left, but are basically grounded in Cloward-Pivens and Saul Alinsky.
Biden and his handlers are following Obama's playbook of forcing political change through orchestrated crisis, after crisis, after crisis with CBDC next in line.
The “Cloward-Piven Strategy” basically aims to speed up the fall of capitalism by overloading the government bureaucracy with a torrent of demands - most of which are inpossible for the sysytem to handle - consequently pushing society into crisis and economic collapse.
Ultimately I think this push to total control will work, for about 1/2 the country: those who have been indoctrinated to follow.
The rest of us will be ungovernable.
When that 50% that is ungovernable becomes a problem, then it will simply be exterminated-in order to save the country. They called them purges, pogroms or, if that’s too ham handed for folks, then they’ll call it a cultural revolution— has kind of a nice ring to it.
Make no mistake about it, those of us who are considered “deplorable” “clingers”, will be on the short list for the reeducation camps, only they won’t be reeducation camps.
Hogwash. The US Government has been effectively defeated in every war since WW2.
Mark - thanks as always; you featured so many of Luongo's materials that we ultimately joined his pay-only group; one of his main points is the Fed is against the CBDCs because the commercial banks that own the Fed view it as a threat to their existence (eg, won't the use of CBDC eliminate the banks?). How do you square those 2 views?
Yes, you're welcome. That's what gives us some hope. There's very little political opposition that I can see. However, when I was doing the searches that gave me the Forbes article I came across quite a few references to Fed doubts or open opposition. I was trying to find a story from a month or so ago in which a Fed official (Minneapolis?) came right out and said: The only point is control.
Agustin Carstens from Bank of International Settlements: With CBDC, we will have ABSOLUTE control
https://www.youtube.com/watch?v=-rfquTQcvjQ&t=1s
Yes I'd like to know if the talk by Kashkari represents actual daylight, or is it the light of an approaching train?
Are Jerome and Jamie going to save us from the BIS, or is it all kayfabe?
saw that same quote and likewise it gave me hope; it was revealed by kaneokathegreat (sp?) with this:
Pompliano’s comments mirror those made by the president of the Federal Reserve Bank of Minneapolis Neel Kashkari who, speaking at a panel hosted at Columbia University, said that he had no idea what problem CBDCs solved for Americans.
“What is it that a CBDC can do that Venmo can’t do?” Kashkari asked. “Well, I can see why China would do it.”
“If they want to monitor every one of your transactions” “impose negative interest rates” or “directly tax customer accounts,” he said. “You can do that with a Central Bank Digital Currency, you can’t do that with Venmo.”
Here's the link to actual talk:
https://www.minneapolisfed.org/speeches/2022/neel-kashkari-fireside-chat-at-the-2022-journal-of-financial-regulation-conference?utm_source=substack&utm_medium=email
thinking, he would only say that publicly if his boss JP agreed, and likely/hopefully the other similar regional bankers thought the same; we try to caution ourselves not to follow Luongo because we hope he's right, but because the facts back him up.
keep up the great work Mark.
Thank you so much for bringing up these points, and that talk.
But if we've learned anything from Covid, it is the powers that be are good at lulling people to go back to sleep.
We just need two weeks to flatten the curve.
It is unthinkable that we would mandate the vaccine.
Thanks for looking that up. I knew it was out there. It's a remarkably forthright statement.
One of the voices warning about CBDC's has been Catherin Austin-Fitts who writes for the Solari report. Here is an older video that was posted on "The Burning Platform" in August 2021 discussing this in a 49 minute video. It's worth listening to and is pretty frightening.
https://www.theburningplatform.com/2021/08/23/planet-lockdown/
Forbes - similar to Mark, my background is in law and am on thin ice trying to fully digest these banking/financial issues; but have understood the control goal behind the CBDC push for a year or so, and how it could change things here in US quite dramatically and possibly irreversibly; but it seems that having our Fed against the CBDC push would preclude it from proceeding no matter how the 'davos crowd' and our own deep state want it; so my Q is, despite the chatter about the dangers it presents and the areas where it is gaining ground, so long as we have our Fed Chairman and the regional bankers blocking it, it seems to be a far-off risk here. But, as noted, this topic is foreign to me so education is welcome.
As a really simplistic answer, the Fed is authorized as the central bank of the U.S. by legislation rather than explicitly by the Constitution (although the "necessary and proper" clause of the Constitution was successfully appealed to as the basis for establishing a central bank). So, theoretically the Fed as currently constituted could be removed by legislation and its functions and authority assigned to some other organ of the federal government (which might not even exist now).
Forbes is correct in his comment below that as of now we have no idea how a CBDC would function, who would regulate it, and how it would replace the current federal reserve and commercial banking system. That does not mean such a system could not be formulated and passed into law at the federal level. By its very nature a CBDC would obviate the need for commercial banks, and the commercial banks are the shareholders in (owners of) the Fed. That is the source of the Fed's "reluctance" to sanction either the idea or the need for a CBDC.
Given the federal government's unparalleled ability to mess things up just the attempted transition to a CBDC likely would totally destroy our national economy (wholly apart from the issues of totalitarian control it might enable). That said, it would have to be a total command and control economy for it to work - which means essentially no more private companies or private ownership.
Forbes - thanks for that, it was educational, to hear how the Fed was reacting to legit chaos in markets and its help did indeed avert greater harm; but then how do people like John Titus (Catherine Fitts' expert on banking/legal issues) paint the Fed in such broad evil or 'effecting a takeover...' terms without much middle ground; and then lay on top T.Luongo's take how the Fed is a white hat with the only hope we have to break the US from the Davos/WEF crowd. Or then there's the crowd who contends the Fed is off-base and ignoring key stats that would warrant a different approach. I do appreciate the link, the article was straightforward, informative.
Luongo doesn't say the Fed is a White Hat. He says that at this moment in history they're the enemy of our worst enemies. You can get a flavor for that from Jamie Dimon's testimony yesterday--mixed bag, but more or less on our side for the short term.