Thursday, December 15, 2022

IN the NEWS - Is Key Mechanism Nearing?

Is a key mechanism for government control of buying and selling nearing?  And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. Rev. 13:17
 
"The Federal Reserve is pushing a Central Bank Digital Currency which would give the government the unprecedented ability to control a person’s life. 
With the CBDC, the government would effectively have complete
control over an individual by deciding how much a person can spend by forcing a tax on all private transactions, and by even theoretically penalizing people who save money – thus ensuring a permanently poor underclass.
 
It may seem that the purpose of a CBDC is to facilitate transactions and enhance economic activity, but CBDCs are mainly about more government control over individuals,” wrote André Marques of the Mises Insitute.
 “If a CBDC were implemented, the central bank would have access to all transactions in addition to being capable of freezing accounts.”
 
The end of cash would mean less privacy for individuals and would
allow central banks to maintain a monetary policy of negative interest rates with greater ease (since individuals would be unable to withdraw money from commercial banks to avoid losses)
.”
 
A cashless society would allow governments to also adopt a Chinese-stylesocial credit score’ in which people are penalized financially for engaging in political “wrongthink.” IW