The Story of CBDC
- "Money is probably the most successful story ever told. It has no objective value... but then you have these master storytellers: the big bankers, the finance ministers... and they come, and they tell a very convincing story."
- Yuval Noah Hariri
- To understand how we will all come to accept a central bank digital currency (CBDC), we must familiarize ourselves with the Story of Money and how the Money Masters fooled us into believing it.
How did we stray so far?
- Bartering one thing in exchange for another - in the real world.
- What came after bartering? Coins
- The bigger the pile of coins, the more power one had to buy and sell
- People needed to trust whomever they were going to give their money to
- Money Masters promised to keep everyone's money safe in places called banks
- From there, the Money Masters really started complicating things
- They started to say there were ways to make your pile grow bigger
- You could invest it
A short history of credit
- The first credit bureau to collect data on Americans was the Atlanta-based Retail Credit Company (RCC) founded in 1899
- They not only collected credit information but also political and social preferences
- Rumors about people’s personal lives
Mortgage
- The first example of the federal government creating a national network to connect investors, lenders and mortgage borrowers
- With the enactment of the GI Bill of Rights in 1944, American families increased their home-borrowing from 19% of households in 1949 to more than 40% by 1967
Credit Cards
- The first credit card was the Diners Club card in 1950
The Growth of Credit Bubble
- In 1968, TRW Information Systems was founded to acquire credit data, followed by TransUnion and Experian
- The three agencies partnered with Fair Isaac and Company to create a credit score and in 1989, the first FICO Score for general use was introduced
- Fannie Mae and Freddie Mac mortgage lenders began using FICO scores to determine if a consumer qualified for a mortgage
- Americans hold $925 billion in credit card debt, which is a rise of $38 billion since the second quarter of 2022
Social credit scores
- The carbon footprint of a single bitcoin transaction in 2022 is roughly 775.56 kilograms of carbon dioxide equivalent (CO2), or roughly equal to the carbon footprint generated by 1,718,906 Visa transactions or watching 129,260 hours of YouTube videos.
- 72% of CO2 emissions are addressable by consumer behavior.
In 2014, China announced a Planning Outline for the Construction of a Social Credit System (2014-2020)
- The plan states that by 2020, there would be a searchable file of every Chinese citizen that represents all the data collected from public and private companies to track their social credit
- This will encourage the populace to "keep trust" while creating "constraints against breaking trust as incentive mechanisms."
- Honest mentality and credit levels of the entire society will be raised
The Final Solution
- Once CBDCs are implemented, there will be no more freedom.
- Debt, the rise of credit scores, Covid, the fall of crypto, and now the introduction of a social credit system, laid the groundwork for this final solution
- Whereas once cryptocurrency and bitcoin promised freedom, the story now shows us how decentralised cryptocurrency is too easily corrupted
- Return your trust to the tried-and-true government-backed institutions, like Fink advises
- They will fix the problem and take care of you
- When the next pandemic strikes, don't worry, we will have that taken care of, too
https://expose-news.com/2022/12/04/cbdcs-are-the-last-nail-in-the-coffin/
No comments:
Post a Comment