Post by em on Jun 16, 2024 17:42:02 GMT 12
if you need any confirmation as to the ultimate intent of CBDC's, listen to this guy from the Bank of International Settlements
In October 2020, Agustin Carstens, Director General of the BIS, said: "With CBDCs, central banks will have complete control over the rules and regulations that will determine the use and implementation of this method and the responsibility for it, and we will also have the technology to enforce it."
At present Central Banks "manage" inflation by interest rate movements. With CBDC's there's nothing to stop direct intervention, a historical example was the 1990 "Collor Plan" in Brasil
In summary, Brasil had runaway inflation in the 80's. Collor was elected president in 1990, and his space cadet of a finance minister decided the way to counter inflation was to remove money from circulation
quoting from the link
"The Plan took bold measures such as confiscating 80 percent of all banking assets"
One weekend the banks operating on government instructions "swept" everyone's bank accounts, if you were single you were left with 800 cruzeiros, couples 1200, equivalent of $200-300. The funds taken were supposed to be repaid 15yrs later with interest but of course did not happen.
I talked to various people about their experiences in this nightmare scenario. The ex said on the one hand her father had just sold a farm and had the money in the bank - gone! On the other hand she said her then boyfriend was from a rich Rio family, they were tipped off and moved their cash assets out of reach. A colleague was then a young engineer, he said he was lucky, he had just been assigned to a remote job (no online banking then) and as he was buying an apartment off plan, he used all his cash to make forward payments so was not affected. Many businesses went to the wall and the economy tanked for a dozen years and people really struggeld to find work
You can hear James Corbett (https://corbettreport.com/) on CBDC's, Digital ID's etc being interviewed on RCR's on line broadcast this morning
