Tag: CBDCs

Bank Failures – A Push for CBDC?

Guest Post by Martin Armstrong

Monday saw the largest banking failure in the US since 2008 after First Republic went under, marking the third death of a US bank this year. Regulators took possession of the bank this Monday and JPMorgan Chase will acquire the majority of the bank’s assets and remaining deposits worth around $92 billion. First Republic Bank’s stock fell nearly 50% after reporting a significant drop in deposits in the first quarter of 2023. First Republic’s stock value tanked 97% on Friday due to fears of a bank run or failure, and the executives were silent on the health of the bank because they knew they were doomed. JPMorgan Chase coming to save the day is not a good sign.

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The War Waging Against Financial Freedom

Via Mercola

Video Link

Story at-a-glance

  • Finance guru Catherine Austin Fitts warns that central bank digital currencies (CBDCs) are part of a plan to end all currencies and establish a slavery system
  • CBDCs will rapidly usher in an era of taxation without representation, leading to the end of liberty
  • Fitts believes that a deliberate takedown caused Silicon Valley Bank to collapse, in an effort by a variety of players to panic the public and cause a banking run
  • By creating a banking run, many will take their money out of small banks and put it with the central banks that are at the root of the problem
  • Leaving the banking system isn’t the answer — finding a good local bank or credit union, and using cash, is

In The Last American Vagabond video above, you can watch Agustín Carstens, general manager for the Bank of International Settlements (BIS), spell out exactly why globalists are promoting central bank digital currencies, or CBDCs, so heavily.

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New Instant Digital Payments System Isn’t a CBDC, Feds Say — But Critics Say It’s Still About Control

Guest Post by Brenda Baletti, Ph.D.

fednow government control digital payment feature

The Federal Reserve wants everyone to know that its new FedNow instant digital payments system, which it plans to roll out in July, is not a central bank digital currency (CBDC).

“The FedNow Service is neither a form of currency nor a step toward eliminating any form of payment, including cash,” the U.S. central banking system said in recently updated statement on its website.

Last week, the Cato Institute, Associated Press and Yahoo all followed with articles echoing the Fed’s position — FedNow is “not a central banking digital currency,” with the articles dedicated to “fact-checking” the assertion.

After reports about FedNow started circulating in November 2022, and after the Fed’s March announcement that the system would launch this summer, bankers, crypto experts and people concerned with personal financial autonomylashed out, arguing that the system is a step toward a CBDC, or at least toward government control over the financial system.

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‘The central bank will have absolute control.’

Guest Post by Rudy Haverstein

The head of the BIS explains digital currencies to the serfs.

As a companion video to my earlier post, here’s Agustín Carstens, the general manager of the Bank for International Settlements (the “central bankers’ [and Nazi] bank), at a 2020 IMF event, Cross-Border Payments—A Vision for the Future.

His “vision of the future” is quite clear.

Continue reading “‘The central bank will have absolute control.’”

Why Crashing Banks Will Usher in Digital Currency

Via Mercola

Story at-a-glance

  • Three large banks failed in a single week in March 2023, and the ripple effect could easily take down the entire banking system. The cascading bank failures began March 8 with the shut down and liquidation of the crypto bank Silvergate Capital. It had invested deposits in Treasury bonds, which lost value as interest rates were hiked to stem inflation
  • March 10, Silicon Valley Bank (SVB) failed. It too was invested in government bonds, which again became a problem when customers began making large fear-based withdrawals. This was the second largest bank failure in U.S. history, and the largest since the financial crisis in 2008
  • Spooked by the failure of Silicon Valley Bank, Signature Bank customers withdrew more than $10 billion in the days that followed, resulting in the shutdown of Signature Bank on March 12
  • Government regulators have promised to make customers of the two banks “whole” by insuring all funds, not just the first $250,000. Only select “too big to fail” banks will be eligible for this kind of special treatment. Small local banks will not be eligible
  • The most likely outcome of this bailout system is a consolidation of banks until we’re left with just a small number of mega-banks. This consolidation, in turn, will facilitate the rollout of a central bank digital currency (CBDC), as the banking industry will be a tight-knit monopoly

Three large banks failed in a single week in March 2023, and the ripple effect could easily take down the entire banking system, although government officials insist the banking sector “remains strong” and that the problems faced by these banks “do not appear to be widespread.”1

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Feds Using Banking Crisis to Usher in Central Bank Digital Currency, Experts Warn

Guest Post by Brenda Baletti, Ph.D.

Experts warn that recent bank failures and the stabilization measures taken by the Federal Reserve and Wall Street are creating even greater bank consolidation — which could further pave the way for a central bank digital currency.

central banking digital currency feature

A week-and-a-half after the second-largest bank failure in American history ignited uncertainty throughout the global economy, experts warn bank failures and the stabilization measures taken by the Federal Reserve and Wall Street are creating even greater bank consolidation — and might further pave the way for a central bank digital currency (CBDC).

Silicon Valley Bank’s (SVB) collapse earlier this month led to the collapse of Signature Bank, the voluntary closing of Silvergate Bank and the takeover of all three banks by the FDIC.

In response, top credit rating agency Moody’s lowered the outlook for the entire U.S. banking system to “negative.”

Now the banking crisis is spreading to Europe. Swiss regulators engineered a “forced marriage” between UBS and the troubled Credit Suisse this past weekend as part of an effort to stabilize the bank in the face of increasing concerns that a major financial crisis is imminent.

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Fed Announces Launch Of ‘FedNow’ Real-Time Payment System, Sparking Debate

Authored by Tom Ozimek via The Epoch Times,

The Federal Reserve has announced a timeline for the launch of its long-awaited FedNow payment service that will let banks offer customers instantly available funds and execute real-time payments, with critics flagging concerns like lack of cross-border payment processing and raising questions about surveillance.

The Fed announced on Wednesday that it will begin formal certification of participants in the FedNow system in April in anticipation of a July launch.

First announced in 2019, FedNow will allow banks to instantly transfer payments across the financial system.

“With the launch drawing near, we urge financial institutions and their industry partners to move full steam ahead with preparations to join the FedNow Service,” Ken Montgomery, first vice president of the Federal Reserve Bank of Boston and FedNow program executive, said in a statement.

As banks and other financial institutions join the program, this will create a growing network with clearing and settlement features that lets businesses and individuals send and receive instant payments at any time of day.

Recipients using the system will have full access to funds immediately, making it easier to make time-sensitive payments.

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Cash Not Accepted

Guest Post by Martin Armstrong

There once was a time when cash was the undisputed king. Merchants preferred cash payments over credit, and there were often incentives for paying with paper. I recall receiving lower gas prices when paying with cash, for example. It is increasingly common to see “no cash accepted” signs at establishments as the world moves toward a cashless society. At the Federal level, there are no laws protecting consumers who wish to pay in cash. The Federal Reserve stated on its website:

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The Tyrants Are Passing State Laws to Push CBDCs

Via The Daily Clout

Let me open this by apologizing. This article is going to get into the weeds a bit and it is less than exciting. That said, stick with me until the end and I’ll give you a solution you can fight for.

For those that are living under a rock (or that have more interesting things to do than follow monetary policy) CBDC stands for Central Bank Digital Currency and it, along with gene therapy jabs, stands as the greatest threat to freedom on the planet. Digital currency is completely trackable and completely controllable. This means that the government and any corporation with the proper access will be able to know exactly how you spend every digital penny of your money. It also means that the government (or possibly global governments or global corporations) would have the ability to control what you spend your money on. Spend too much on gas they take some of your money for emitting too many greenhouse gases. Want to buy a gun… forget it.

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The SVB Collapse: How financial crisis boosts the rise of CBDCs

Guest Post by Kit Knightly

Last Friday saw the total failure of the Silicon Valley Bank, the 16th biggest bank in the United States. The biggest bank failure since the 2008 financial crisis

By Sunday, the Silvergate Bank and Signature Bank had joined SVB in full collapse. All three are now safely under Federal Deposit Insurance Corporation (FDIC) control.

The FDIC has taken the unusual step of fully guaranteeing all deposits kept with the SVB – meaning the federal government will give taxpayer money out to compensate every SVB customer.

But the damage didn’t stop there. Naturally, this put pressure on other regional banks, with two more – First Republic Bank and PacWest Bank – coming close to collapsing themselves, following mini-runs.

The weekend saw Wall Street’s 4 biggest banks lose over 55 billion dollars in value. Bank stocks around the world are sliding in value.

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With big banks going under, CBDC’s can’t be far behind—and if we don’t STOP them, “lockdown” will be total, and eternal, for us all

Guest Post by Mark Crispin Miller

Once the economy has melted down, CBDC’s will be proffered as the ONLY way we can get “back to normal”—a “cure” that will turn out to be as catastrophic, in their way, as those “vaccines”

With two major US banks going under this past week, it’s more than likely that the Next Big Thing, deployed to change the subject (from the ever-growing toll of “vaccination,” the truth about “January 6,” and other inconvenient measures of reality), is going to be that economic crash which has been hurtling toward us ever since the last one 15 years ago—a catastrophic prospect that “our free press” often has discussed, and with all due solemnity.

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Central Bank Digital Currency Is the Endgame – Part 1

Guest Post by Iain Davis

Central bank digital currency (CBDC) will end human freedom. Don’t fall for the assurances of safeguards, the promises of anonymity and of data protection. They are all deceptions and diversions to obscure the malevolent intent behind the global rollout of CBDC.

Central Bank Digital Currency is the most comprehensive, far-reaching, authoritarian social control mechanism ever devised. Its “interoperability” will enable the CBDCs issued by various national central banks to be networked to form one, centralised global CBDC surveillance and control system.

Should we allow it to prevail, CBDC will deliver the global governance of humanity into the hands of the bankers.

CBDC is unlike any kind of “money” with which we are familiar. It is programmable and “smart contracts” can be written into its code to control the terms and conditions of the transaction.

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How To Resist CBDCs—5 Ways You Can Opt Out of This Dystopian Future

Guest Post by Nick Giambruno

How To Resist CBDCs

There’s an excellent chance governments worldwide will soon force their citizens to use central bank digital currencies (CBDCs).

CBDCs enable all sorts of horrible, totalitarian things.

They allow governments to track and control every penny you earn, save, and spend. They are a powerful tool for politicians to confiscate and redistribute wealth as they see fit.

CBDCs will make it possible for central banks to impose deeply negative interest rates, which are really just a euphemism for a tax on saving money.

Governments could program CBDCs to have an expiration date—like some airline frequent flyer miles—forcing people to spend them, for example, before the end of the month when they’d become worthless.

CBDCs will enable devious social engineering by allowing governments to punish and reward people in ways they previously couldn’t. Continue reading “How To Resist CBDCs—5 Ways You Can Opt Out of This Dystopian Future”

Warning Shot Fired!

Authored by James Rickards via DailyReckoning.com,

Another warning shot across the bow just happened…

I warned my readers a few weeks ago about how the Federal Reserve, in cooperation with giant global banks, has launched a 12-week pilot project to test the message systems and payment processes on the new CBDC dollar.

A pilot project is not research and development. That’s already done. The pilot means that what I call “Biden Bucks” are here, and the backers just want to test the plumbing before they roll the system out on the entire population.

That project is due to be completed next month. In other words, Biden Bucks are getting closer to becoming a reality for us all. Now there is another big development to keep you up to speed…

This month, the Digital Dollar Project (DDP) released an updated version of its white paper called “Exploring a U.S. CBDC.”

The project expanded the paper in order to examine central bank digital currency projects internationally, though its focus is still on the United States. Since its original white paper release in 2020, CBDC projects worldwide have increased from 35 to 114.

Here is one statement in the updated paper:

Continue reading “Warning Shot Fired!”