By Daisy Luther
An acronym that has recently been tossed around in an ominous whisper is CBDC. What is it, and how does it affect you?
CBDC stands for Central Bank Digital Currency, and these are digital versions of a country’s currency. We’ve talked a lot here on the Organic Prepper about digital currencies and the dangers of a cashless society, and if the WEF has its way, we could be looking at just that – and soon. The governments of the world are hard at work creating tunnels and secret routes that all lead to one place – a one-world monetary system. This is all part of the Great Reset they’ve been touting.
The Central Bank has a plan to implement digital currency in the near future.
As always, it will be positioned as something beneficial to get the less-critical thinkers on board first. Then, at some point, it could become the only legal tender that exists, and this will give the powers that be the ability to completely control every financial decision you make.
For the record, governments already have the ability to freeze personal bank accounts. This was tested in Canada last year during the Freedom Convoy when truckers protested Covid regulations. The bank accounts of donors to the cause were frozen without recourse. This actually happened to a friend of mine back in Canada, all because she made a $20 donation to the Go-Fund-Me, which was, incidentally, withheld from its intended recipients.
Anyway, a digital currency could mean such controls as automatic taxation or where and when you’re allowed to make purchases – all at the push of a button. The most likely way this will be rolled out is to “fight inflation” and “fix the economy.” As per the IMF:
A world with lower inflation (and even zero inflation) and no persistent recessions may sound like a pipe dream, but we argue that it is possible by transitioning to an “electronic money standard.” Such a transition requires eliminating the zero lower bound, which central banks can achieve using readily available tools. Breaking the zero lower bound implies that the optimal rate of inflation will be lower than in the presence of the lower bound. This will empower central banks to quickly restore full employment and, over the medium term, possibly move toward targeting full price stability with zero inflation.
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Obviously, any kind of manipulation like this is false, and while there may be some temporary relief, it won’t solve the underlying problems with our economy.
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What are the details of CBDCs?
The Bank for International Settlements wrote a glowing report about the “benefits” of the CBDC system. Here’s what I took away from this:
- Central bankers can execute policy or modify rates instantaneously, at the push of a button.
- Private crypto is bad.
- Central bank digital currency is good.
- CBDCs are better than crypto because they’re trusted.
- CBDCs aren’t “subject to the practical limitations of paper money.” (i.e., they can be tracked.)
- Therefore they protect against “money laundering, proliferation financing, and terrorist financing.”
- They will increase the pool of data generated on users and transactions, thus “helping” the “proper authorities.”
- “Multi-CBDC platforms” aid in decentralization.(i.e., a global economy).
- On a common CBDC platform across multiple central banks, transactions are recorded on one ledger.
There’s no anonymity with this system.
With CBDC, you would never, never be able to purchase anything anonymously. Period.
Your identity would be verified for every purchase. So that means no food stockpile would go unnoticed. No ammo purchases. No firearm purchases. No generator or stash of medical supplies. No books on preparedness or off-grid living, or revolutionary philosophies. No lessons on herbalism or self-defense, or firearms.
Every single thing you bought would be able to be pulled up or flagged when the purchase was made, painting a picture of your lifestyle and your personal philosophies. For folks like us, that’s pretty darned uncomfortable. And if we pair this with a social credit system and/or an ESG score, those who buck the system could potentially lose access to their hard-earned money.
And think about the tax collection ramifications. There will be no more yard sales that result in a wad of undeclared cash. If you spend more than the “authorities” feel you should be able to afford, you’ll leave a glowing trail for them to follow. And if they feel you owe more money, they can literally just help themselves or freeze your account until you pony up.
So what can we do?
You may be thinking about immediately shutting down your bank account to dodge this system. Don’t. It won’t work.
As much as I’d love to think we could opt out of this system, we can’t. At least not completely. Unless you live completely off the grid and produce every single consumer good that you use, including such things as food and sanitation needs, you cannot get away from this system. And even then, property taxes will need to be paid, and if our only legal tender is CBDCs, you’ll have no choice but to use it if you want to keep that off-grid home.
Let’s quickly look at the four functions of money:
- a tool of accounting for measure
- a tool for saving for future use
- a tool of barter for trading
- a store of value for fair payment of labor
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Of all these, only precious metals fulfill these functions with your privacy and anonymity intact. And, if enough people switched to gold and silver, this nonsense would be a lot harder to enforce.
Now, I’m not suggesting going out and dealing in only silver dimes if you are in a situation in which you’re living from paycheck to paycheck. If you are in those shoes like so many of us are right now, you don’t have as many options. It isn’t feasible or practical if you’re going to need this money right away for existing expenses.
But if you are trying to protect existing wealth and this is not money you’ll need to access immediately, I urge you to consider investing it into gold or silver to protect your savings during the economic downturn ahead. At the same time, getting your money out of this currency system that may soon be switched to CBDC is the only way to ensure it remains yours. (Remember how I mentioned Canada, when Trudeau locked down accounts for wrongthink?)
I use ITM Trading, out of Phoenix, AZ, for all of my metals purchases. I know there are plenty of good companies out there, but I prefer ITM because of their focus on education. I’ve learned so much in my consultations (which are free, btw). I’ve been very impressed with the access to curated resources, research, and weekly insights on macroeconomics, central banks, currencies, and the global reset that they provide. To me, there’s really no other option for my purchases.
If you want to schedule a strategy session with ITM, it’s absolutely free, and there is no pressure whatsoever. Some folks take weeks or months before investing, and others decide it isn’t for them. But what every single person walks away with is a clearer understanding of the monetary system and what investing in precious metals entails. And you get all of it at no charge. To schedule your own appointment, go here or call this number directly: 1-866-517-1257 – I’ll be really interested to know whether you’re as impressed as I am.
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A CBDC economy is good for governments, not individuals.
I truly want to evade having everything I own put into CBDC that could be taken away or deflated at the push of a button. I’ve worked too hard for too long to have my finances completely at the mercy of a global banking system. I have no desire for my spending data to be used against me. I want privacy and security, and I don’t think I’ll get either with a CBDC system.
What are your thoughts about CBDCs? Do you think that this is coming soon? Is there a timeline on which you expect to see this occur? Are you concerned about it, or do you think it’s a good idea? Let’s talk about it in the comments.
Source: The Organic Prepper
Daisy Luther is a coffee-swigging, adventure-seeking, globe-trotting blogger. She is the founder and publisher of three websites. 1) The Organic Prepper, which is about current events, preparedness, self-reliance, and the pursuit of liberty; 2) The Frugalite, a website with thrifty tips and solutions to help people get a handle on their personal finances without feeling deprived; and 3) PreppersDailyNews.com, an aggregate site where you can find links to all the most important news for those who wish to be prepared. Her work is widely republished across alternative media and she has appeared in many interviews.
Daisy is the best-selling author of 5 traditionally published books, 12 self-published books, and runs a small digital publishing company with PDF guides, printables, and courses at SelfRelianceandSurvival.com You can find her on Facebook, Pinterest, Gab, MeWe, Parler, Instagram, and Twitter.
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