Central Banks, Bank for International Settlements (and its BIS Innovation Hubs in Toronto, Singapore, London, Hong Kong, Singapore), various universities including MIT are creating the basis for digital currency. It has already been decided upon. Once the digital currency system is created and tested, the multi-controlled establishment politicians will create the legislation authorizing its usage. Cash will be phased out with likely a time period to convert them into digital currency before they lose all value.
In the image below from the Bank of Canada are the core tenets of the central bank digital currency.
Key points to consider:
Central bank digital currency seeks to replace cash, even allowing delayed digital payment for “limited periods and thresholds”.
Digital currency is dependent on digital access via tapping a card or scanning a cellular phone, and eventually biometric scanning in a 5G infrastructure.
Digital currency is vulnerable to cyber-attacks and potential counterfeiting, and system operational failure (power outage).
Digital currency is reliant on processing an extremely high number of transactions, and this is where the processing of 5G and higher generations comes in.
Interesting to note, that privacy and oversight are not considered core features of the central bank digital currency, and not even mentioned.
NCA is very concerned at the invasion of individual privacy and the resulting control by government, institutional organizations. Every single digital transaction as they occur will be recorded and known by the authorities. In contrast, cash allows for privacy.
Bank for International Settlements (BIS), based out of Basel Switzerland, “support central banks’ pursuit of monetary and financial stability through international cooperation, and to act as a bank for central banks.” The BIS is part of the global architecture of the unipolar biased rules based world order.
BIS is actively involved in the development of the central bank digital currency (CBDC), through its BIS Innovation Hubs.
There are two developments that people should be aware of:
Monitoring Real-time Financial Transactions:
One of the prototypes for this is called Rio: “a central bank-specific, real-time capable market monitoring platform. The cloud-based stream processing platform will process real-time financial data feeds…”
This aspect has raises serious concern due to the invasion of privacy of individuals and organizations.
Movement toward Global Digital Currency:
Nexus is a “blueprint to connect multiple instant payment systems. It aims to enable cross-border payments in less than 60 seconds.” Eventually, there will be a push for a single digital currency, and it should be noted that “global governance” is at the center of the so-called Great Reset aka Fourth Industrial Revolution.
Eventually cash will be phased out by the central bank digital currency.
What can you do?
Barter things of value, which will become one of the new forms of cash.
Gold and silver are real money, and can be used to exchange for other things of value. However, there is the potential for government authorities to confiscate gold and silver and/or ban the exchange of gold and silver as a medium of trade.
NCA as a grassroots, non-establishment registered political party is very concerned about the global developments and their top-down fast pace. We realize that mass awareness most occur first before any meaningful steps can be taken to address the litany of concerns. Therefore, our primary focus is awareness.