When the IMF lifts the veil on the CBDC…

The IMF lifted the veil on October 14 on the dark designs behind the CBDC (Central Bank Digital Currency).

International institutions very fond of the CBDC

Notably present were the Chinese Bo Li, an IMF pundit, but also Cecilia Skingsley, the former governor of the “first central bank in history”, the Riksbank. The Swedish is now Ms. CBDC on the side of the bank for international settlements.

Her Majesty the Queen Maxima of the Netherlands was responsible for introducing the conferencerecalling that “the bank for international settlements, the IMF and the World Bank” were there to help governments and central banks take the leap regarding the CBDC.

Indeed, as the UN’s ambassador for “inclusive” finance, the Queen welcomed the fact that CBDCs could be a “tool promoting inclusion” :

“Over the past decade, a quarter of the world’s adult population has been able to access financial services. Today, 76% of adults worldwide are now financially included in some way, providing billions of people with new opportunities to […] invest in a more prosperous future. »

Put more bluntly, billions of people can now borrow money and thus perpetuate the debt ponzi (fiat currency) whose encounter with the physical limits of growth promises us inflation.

A quick search on the website of the secretariat of this crowned head (UNSGSA) reveals the support of various sulphurous organizations. In the front row sits the Bill & Melinda Gates Foundation.

By the way, the founder of Microsoft recently unblocked $200 million for “create interoperable digital identity and payment systems”.

This check will delight the World Bank which declared last year that “Digital identity is critical to CBDCs, especially for international transactions.”

This charitable donation was announced during the presentation of the sixth annual report on the “UN Sustainable Development Goals”. Lofty goals that look like a Trojan horse to deploy a global totalitarian surveillance system.

The Better than Cash Alliance is also part of the UNSGSA. This is yet another organization created by Bill Gates. As its name suggests, this alliance pleads for the end of cash. A goal shared by Cecilia Skingsley who admits to being interested in the CBDC in anticipation “of a future in which cash is no longer accepted”.

Same story with IMF President Kristalina Georgieva who advises “to no longer use cash”while welcoming that the collection of data via the CBDCs “will provide access to credit and thus promote financial inclusion”.

Words that will delight the representative of the Chinese Communist Party Bo Li…

When China Exports Communism

It’s hard to sell the CBDC as a tool that will bankarize those who can’t afford a smartphone…

Not for Bo Li:

” [La CBDC] can significantly reduce barriers to using the cash for multiple groups. Those who do not have a bank account. But also for those who do not have a smartphone or internet access. The reason being that the CBDC can be stored in a card. »

On the verge of inventing the banknote…

The Chinese also praised the programmability of the CBDC:

“The CBDC can allow government agencies as well as the private sector to program the currency via smart contracts allowing for example the payment of social assistance such as food stamps. The programmability of the CBDC makes it possible to precisely target who can use it and how. This money could, for example, only be spent on food. »

And then one fine day, your employer will choose for you what you can buy or not. The CBDC is already shaping up to be a social engineering currency through rationing.

For the former member of the Chinese central bank, purchase history is “precious” data:

“I can give you China as an example because I have personally experienced it. Banks use transaction data. This data can relate to the number of coffees I drink each day and where do I buy it. They also reveal if I use Uber every day, what are my working hours, etc. This non-traditional data allows banks to give me a credit score. Based on this note, the bank can grant me a loan without having to meet me face to face. »

This is totalitarianism. An “artificial intelligence” judging alone, based on its data, if such and such a person is worthy of borrowing. And then too bad for those who do not fit into the mold or who have criticized the Communist Party on social networks…

Bo Li also casually said that the CBDC will help fine-tune the central bank’s monetary policy. In this regard, here is an excerpt from a document written by the Indian central bank that we reported last week:

“CBDCs offer the ability to program money and condition its end use. For example, we could ensure that the money from an agricultural loan cannot be spent anywhere other than at input dealers. [semences, pesticides, engrais]. […] Programmability could also facilitate the transmission of monetary policy. We could push consumption by adding an expiration date after which the money would disappear. »

Obviously, the question of digital identity was omnipresent during this conference.

Big Brother’s toy

Furthermore, for Ms. CBDC, “we are gradually getting rid of banknotes and physical money to enter the digital world”. Cecilia Skingsley also warned that the CBDC requires “above all a digital identity”.

Digital identity is the holy grail of tech billionaires and the World Economic Forum. Individual carbon footprint, vaccine passport, CBDC, cybersecurity, metaverse, etc. Obviously, all excuses are good at selling us this dystopian tool of mass surveillance that is the digital identity.

This Orwellian cybernetic leash aims to compile all our data. And especially the most intimate. Including visited websites, purchase histories, medical records, bank balance, circle of friends and much more. Advances in “artificial intelligence” are such that the crossing of this data makes it possible to anticipate the probable fate of an individual…

The risk being that this kind of premature judgment turns into a positive feedback loop. Some would see their opportunities diminish in anticipation… Not very “inclusive”.

“Before the system, a man like you might have had a chance.

Work hard, keep fighting… But you’ll never be more than a construction worker or a petty criminal. ‘Cause that’s all they’ll let you be. »

Dolores, WestWorld, season 3, ep 3.

The powerful want to choose to whom such products, services and information will be accessible, or not. The CBDC is the greatest totalitarian risk facing humanity today. Bitcoin is essential to calm the hubris of certain megalomaniacs.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential Cointribune!

Nicolas Teterel avatar
Nicolas Teterel

Journalist reporting on the Bitcoin revolution. My papers deal with bitcoin through geopolitical, economic, and libertarian prisms.



We want to say thanks to the author of this post for this remarkable material

When the IMF lifts the veil on the CBDC…


Visit our social media accounts and also other pages related to themhttps://www.ai-magazine.com/related-pages/