Beware the Digital Dollar
Federal Reserve Board Chairman Jerome Powell faces reporters at a press conference in Washington, DC., on June 15, 2022. REUTERS/Elizabeth Frantz
A prudent man foresees evil and hides himself, but the simple pass on and are punished.
For most of us, few things are more boring than central banks and monetary policy. Those who run our monetary system know this and are more than happy to make sure this situation persists, for it very much works to their advantage.
Take, for example, Friday’s announcement of a digital dollar by Jay Powell, the Chairman of the Federal Reserve Jay Powell. According to Powell, a U.S. digital dollar, “could…potentially help maintain the dollar’s international standing.”
All this sounds innocent enough. Even downright boring. But there’s a lot going on here that is far more profound than a quick glance may suggest, and it’s worth taking a little time to unpack it. In short, Powell is proposing a new form of the US dollar he’s calling, “A U.S. CBDC (central bank digital currency).
So, who is Jay Powell? As mentioned earlier, he’s the Chairman of the Federal Reserve, the central bank of the United States. This is an extraordinarily powerful position. Some people argue that it’s the second most powerful position in America, following only that of the President.
The Chairman of the Federal Reserve heads up an institution that essentially runs the entire US financial system via its control over the US dollar. Set up in 1913, the Federal Reserve System is in charge of the issuance of the dollar, controlling how many dollars – i.e. currency units – are in existence. And since the US dollar is not merely the currency of the United States, but functions as the world’s reserve currency, one could argue that the Federal Reserve System (hereafter “the Fed”), though its ability to issue dollars, oversees the financial system of the entire world.
In the opinion of this writer, the very existence of the Fed is both unconstitutional and contrary to the teaching of the Bible and all its activities are sinful. But it is not my purpose today to explore these topics in depth. That I have done before and, Lord willing, shall do again at some point in the future. For now, let’s just say the Fed is not our friend. It is an institution of, by, and for elite banking and political interests which it serves at the expense of the rest of us. As Ron Paul has said many times, it needs to be ended. But even though the Fed needs to be shut down, nevertheless it is a powerful force with which we must contend.
Getting back to the topic at hand, why do I say, “beware the digital dollar?” It comes down to this, the digital dollar represents a quantum leap in the ability of the elite banking and political interests served by the Fed to control the lives of ordinary people. It would allow the same interests who have destroyed our liberties with the Covid scamdemic even greater ability to violate our privacy and control our lives.
In Revelation 13 we find a well-known passage that speaks of a dystopian political/economic system in which one must accept the “mark of the beast,” in order to buy and sell. It is not my point here to argue that the digital dollar is part of the dystopian system mentioned in Revelation 13. But this I will say, the digital dollar certainly has the capacity to be used in a way that mirrors what we read in this passage.
Why is this? A digital dollar serves to remove all financial privacy. You see, from the perspective of the master of the universe types whose interests are served by the Fed, cash is very problematic. The biggest problem with it being that is allows for financial privacy. You can buy and sell in cash and neither the banking cartel nor the government is any the wiser. But imagine if physical cash is eliminated and all that remains is digital dollars issued by the Fed that must be used as part of an electronic payment system. The Fed, and hence government authorities can track every transaction you make. Every. Single. One.
But if the elimination of physical cash, of one of the few remaining options most people have to maintain financial privacy, weren’t bad enough, the digital dollar very clearly can be used to control people in a way that has never before been available to the masters of the universe.
Suppose the government working with the Fed decided to implement a Chinese-style social credit system in America. With a digital dollar, they could shut off your ability to transact with the click of a mouse. Publish a blog post or send a tweet that rubs some big shot the wrong way, well, we’re very sorry but you can’t buy food or gas until you remove that offensive post and attend a class on the righteousness of Critical Race Theory.
Or think about how a digital dollar can be used in connection with a vaccine passport. You remember vaccine passports, the discussion of which was all the rage just a few months back In some places, they are more than a point of discussion but have actually been implemented.
Suppose some tyrant like Joe Biden can ram through a vaccine requirement for some future scamdemic and includes a vaccination passport requirement to prove you’ve taken the needed jabs for you to go about your daily business. If your vaccine passport isn’t green to show that you’ve been a good little boy or girl and obeyed the authorities by taking their latest poison death shot, well, you may not be able to buy anything, even online from the privacy of your own home.
In such a situation, the authorities could freeze your bank account. So even if you have funds in your account sufficient to pay your bills, you would not have access to those funds until you complied with their latest diktat. Noncompliance would result in you defaulting on your debts and being forced into bankruptcy. If you doubt this is possible, consider that the US is attempting to do this very thing to Russia right now. The US has frozen Russia’s dollar reserves, making it impossible for Russia to pay its dollar-denominated debts. If the US is able and willing to shut off Russia’s access to its funds in the banking system, it is certainly able and willing to do this to any of us.
Now some may argue that the government already can seize your bank account, so what’s the difference. A couple of things. First, we still have the cash option available to us today. If we end up with a digital dollar and if physical cash is demonetized, all your dollars are locked up in the system. Second, some have suggested that under a digital dollar system, you would no longer have a bank account with your local bank. All your banked dollars would be held in an account with the Fed. If this were to happen, the Fed would have direct control over your ability to transact, a level of control it does not currently have.
Another way in which a digital dollar can be used to control people is that Fed could institute special requirements regarding the use of your digital dollars. One of the great limitations of the current system of physical cash is that the Fed cannot control how you use your cash. They may print and print and print new currency to generate economic activity, but if people choose to save it rather than spend it, the desired activity does not take place. But under a digital dollar system, the Fed could create a “use it or lose it” incentive, whereby you either spend your digital dollars within a certain period of time or forfeit them. This would force people to spend their money and discourage them from “hoarding” it.
From what I’ve read, the introduction of the digital dollar could come as soon as 2023. Quite possibly it will be introduced following a financial crisis and sold as a means of helping people get back on their feet. Fear is a wonderful tool for the elite to bend people to their will Always remember this: the Fed is not your friend. Whatever solution they offer you to a problem – and keep in mind that the problem they propose to solve is one of their own making – is sure to have a nasty catch to it that isn’t going to be obvious to most people. At least not initially.
Essentially, what I’m describing here is the old Problem/Reaction/Solution play. The authorities create the problem, which in turn prompts a fear reaction on the part of the people. And then guess who rides to the rescue with the solution? The same people who created the problem in the first place. And their solution always involves a loss of economic and political liberty for the people, while enhancing the power of the elite.
The proverb mentioned at the top of this post – A prudent man foresees evil and hides himself, but the simple pass on and are punished – applies here. So, one may ask, just how does one hide himself from a dystopian digital dollar system? One way is putting yourself in as strong a financial position as possible. This means, among other things, paying off debt. If creditors are banging on your door during a financial collapse, you’re going to be in a much weaker position than if you’re debt-free or at least have limited your obligations. Another way of building a bulwark against a digital dollar system is to get some of your capital out of the system altogether. The easiest way for most of us to do this is to own physical gold and silver and keep it where you can touch it. Physical gold and silver have been money since the days of the Old Testament and, regardless of what politicians and central bankers say, they will be money until the Lord comes again.