The new digital money yoke

One currency rules them, only it will discover them,

Only he will gather them all and wrap them in control

in the city of Frankfurt, where the Brussels darkness hangs.

The debate on globalization is shifting its focus from the traditional plane of left and right and is reorganizing itself under a new dimension, namely national versus global interests and powers. Looking in detail – national interests and powers have their visible face – either in the form of a nation-state, separated by its borders, or by a united group of such states (e.g. the Visegrad Four). The fundamental thing about them is the transparency of who makes decisions, as well as the possibility of attacking them directly. On the other side is the union of large states, which often form a cartel, to which smaller, less powerful states are forced to join – and if they refuse, are threatened with political and economic disadvantage.

But the cartel of states is only an intermediate step. The logical end point they are aiming for is the creation of a central body, something like a World Government or a World State. The emergence of such is observed with the increasing desire for centralization of decision-making by supranational institutions – in the form of megastructures such as the European Commission, or global organizations such as the IMF, the World Bank, the WHO, etc. While in the past the conventional methods of subjugating states and nations were through the brute force of military action, after the Second World War soft methods prevailed – through culture, trade, but above all through monetary instruments in the form of common currencies. And as Shakespeare’s Sir John Falstaff exclaims “Money is an excellent soldier – it makes its way everywhere. [1]”, the processes of centralization of world power will increasingly rely on this principle.

Devaluation

The first step in the modern monopolization and devaluation of money was in 1971, when President Nixon removed the dollar from the Bretton Woods system and effectively removed its gold backing. This action brought shocks to the system, currencies tied to the dollar were now in a state of floating exchange rates, which allowed central banks to unleash quantitative easing and monetary financing for their economies. The inflation that followed then struck with destructive force the working man, devastated small and medium-sized businesses and pushed families to the brink of bankruptcy, and then to the streets. The devaluation of currencies returned the power to politicians and central banks, who once again held the bread in one hand and the knife in the other. As a result of the numerous interventions of the ECB in the last two years, through quantitative easing and negative interest rates, the European taxpayer is on the verge of personal bankruptcy, due to constantly rising prices, and his savings are losing their value daily.

Depersonalization

The second step is the war against cash payments. For years, it has been waged by various organizations, most often owning card transaction systems, but in parallel, supported by government departments, including tax agencies. The depersonalization of currency leads to a loss of national self-awareness and inclusion in a new, underdeveloped global worldview, whose focus and goals change, without the individual having the opportunity to counteract.

The invention of cryptocurrencies was intended as an ideal escape and decentralization from the controlled fiat money of central banks, but instead of “raising eyebrows,” it creates an increasing danger of “poking eyes.” Innovations, which most often come from the private sector, receive their freedom of credit for a certain period of time, until the state feels that it is starting to lose its power and begins to regulate or replace them.

Such an example is currently observed in social networks, whose algorithms work in favor of the deep state and censor the opinions of dissenters. The same attack and takeover can be expected with regard to the methods of market exchange, which are precisely money. And if at the moment the superpower is having difficulty banning the exchange of cryptocurrencies, then it has another option – the creation of a universal, generally accepted, “secure” currency. One with a face behind it. And here on the horizon appear the digital currencies of central banks.

Merge

The process of creating digital currencies by central banks, such as the digital euro, could be a catalyst for the creation of a World Currency. Under the guise of cheaper transaction costs, as well as easier trade, different currencies are starting to unite under one umbrella, and if in the past this was a slow process of exchanging old for new money, now it happens with the press of a button on the keyboard.

The end result is a unified digital international currency. The issuance of digital money not only heralds the end of cash – the anonymous payment option for citizens and entrepreneurs. Once anonymity is removed, the central bank, as well as the state, will be able to monitor every transaction of citizens. The state will not only know who pays what, when, where and for what. It will also be able to determine who gets access to their deposits. The interest rate will be personally determined according to the plans of those who set it, as well as according to the obedience of the recipient of the loan.

And if the Chinese system of “social credit” soon sounded like a dystopia that Western countries should condemn, the insatiable interest in controlling society will make them put it into practice. And what easier way to do this than by controlling the means of payment? Against this background, digital money will be a weapon in stifling any form of unwanted political opposition. Digital money will not only replace cash, but will increasingly compete with money from commercial banks, which are currently involved in paving the way for a single currency for their short-term financial interests, unaware that they are putting a yoke on themselves.

Why keep your money in banks that are at risk of failure when you can keep it safe in the central bank that never fails? It will then become possible to exchange commercial bank deposits one-for-one for money from the digital central bank - the credit and monetary system will be de facto fully internationalized.

Obsession

Will the establishment-sponsored economists do everything they can to convince us of the benefits of a globally coordinated monetary policy? Isn’t it already said that stabilizing exchange rates between national currencies is beneficial and that if a supranationally controlled currency called the euro is adopted, it will benefit everyone? And since the printing of digital money by the ECB will destroy the remnants of the free capital market, merging different national currencies into one will be relatively easy. It is also important to note what happened in the eurozone – the euro was introduced to overcome national sovereignty and establish a union of the United European Nations, not the other way around. Part of this process also goes through the Recovery and Resilience Plan, whose long-term goal is to create a common European treasury, common taxes and eventually replace the sovereign economies of the Union. Subordination has always been through the obsession with money.

My humble concern is that, let’s say, your government opened an account at a Central Bank for a digital currency, but to access it you need a digital ID and the funds are programmable. Not only would spending be tracked, but certain types of transactions could be encouraged or restricted. The combined tentacles of government control would be expanded, and our freedoms would be further eroded.

In Bulgaria, the process of war against cash has been going on for a long time. Initially, it began with attempts to ban cash payments over 1000 leva [2], under the pretext of “money laundering”, subsequently banks began to raise fees for withdrawing money from ATMs, in parallel with this, savings accounts are being closed and converted into deposit accounts, namely – money for quick, direct exchange. There are advertisements that card payments are “cool”, at the expense of cash, and POS terminals are being given away free of charge to businesses. At the macro level, local banking supervision has become meaningless, having been transferred to the hands of Frankfurt planners, in parallel with this we are unreasonably moving towards entering the eurozone in 2024 - the year that is also indicated as key for the launch of the digital euro.

The concern is that we are getting closer to Aldous Huxley's dystopia of the 1930s and the "Brave New World", which will be controlled by central planners...

What do you think?

[1] W. Shakespeare, The Merry Wives of Windsor

[2] At EKIP, we then took open action against the injustice that the government tried to perpetrate on the backs of small traders and consumers. You can read more here: https://ekipbg.com/against-cash-regulation/

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