CBDC: Central Bank Demands Control

Back to October 2023 Eagle Forum Report
Fed
by Patrick Wood, an expert on Sustainable Development, Green Economy, Agenda 21, and 2030 Agenda; author of Technocracy Rising: The Trojan Horse of Global Transformation and co-author of Trilaterals Over Washington, Volumes I and II with Antony C. Sutton.

There is so much hype and fear surrounding the implementation of Central Bank Digital Currency. The central banks are pumping propaganda 24×7 and critics are buying and repeating much of it without thinking. 

I have addressed the eventual outcomes of CBDCs many times and there is certainly nothing good to say about them. Indeed, if implemented in the intended sense, they would lock the gate on dystopian, scientific dictatorship.

Here are some of the roadblocks that the central banks are facing.

  1. Citizen resistance – millions are onto the cashless paradigm of the central banks and are hoarding/using cash more frequently than ever. As this movement grows, resistance grows and the effort to overcome it grows for the banksters.
  2. Lack of true universal ID – Without a definitive, universal ID for everyone on earth, CBDCs cannot easily track individual transactions and purchases. This underscores why every globalist sector is stampeding to implement a universal ID system. Bill Gates, the World Economic Forum and the United Nations are all pushing IDs.
  3. Lack of AI and computing power – There is mega-hype over ChatGPT-like AI and the possibility of an Artificial General Intelligence has not been established yet. It could take years for a true AGI to emerge. The CBDC scheme seeks to flash data on each and every transaction the the world, from personal transactions to stock market and financial transactions. We’re talking billions of transactions every day, day in and day out. The AI/super-computer world is not yet capable to process such a real-time data set. It’s coming, but it isn’t there quite yet.
  4. The Constitution – The BIS itself has admitted that what it intends to do will require legal and constitutional changes before they can finalize.

Article 1, Section 8 of the U.S. Constitution states:

The Congress shall have Power… To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; To provide for the Punishment of counterfeiting the Securities and current Coin of the United States.
 

Further, Article 1, Section 10 addresses the states:

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts.
 

It’s no wonder that globalists and their lackey political minions (yes, both Democrat and Republican) are pushing for a Constitutional Convention, alternatively called a Convention of States, to “modernize” and “update” archaic concepts.

I would offer sage advice to anyone who thinks that a Constitutional Convention would solve anything for us. Rather, it would only solve everything for them, which would be the end of us.

The most recent report from Central Banks on the development of CBDCs states, “A group of central banks, together with the Bank for International Settlements.” On page six, they spill the beans:

“Legislation may need to be enacted or adjusted to specifically authorize the issuance and distribution of a retail CBDC (eg changes to central bank charters/statutes, legislation in other areas related to payments or to the constitution itself).”

They clearly see their own problem and limitations. Most of the rest of us, do not. We would do well to keep a balanced view of what is happening and make preparations in due order, rather than in a panic such as they would like for us.