An international financial official is warning about the risks of Central Bank Digital Currencies (CBDCs) as more than 110 countries — including the United States — are currently working on CBDCs. Don’t be taken in by the convenience; digital currency is a prelude to dictatorial social credit scores.
Currency Insider reported Tuesday, “On 1 May 2023, During the discussion at the Milken Institute Global Conference, the International Monetary Fund (IMF) managing director Kristalina Georgieva said that the IMF can’t ignore all the versions of CBDC, which are under development by several countries.” It’s more than several countries, according to Currency Insider itself, which said, “more than 110 countries are in CBDC development and 65 of these countries are in the advanced phase.” China already has a digital yuan, and it’s not the only country with digital currency. Georgieva said:
We think that wholesale CBDCs can be put in place with fairly little space for undesirable surprises, whereas retail CBDCs completely transform the financial system in a way that we don’t quite know what consequences it could bring.
It’s interesting that Georgieva issued this warning at a Milken Institute Summit. Pay attention to Milken Institute speakers; at their October 2019 summit, Dr. Anthony Fauci and others pushed for “disruptive” action to accelerate mRNA vaccine manufacture — around the same time COVID-19 was (almost certainly) leaked from a lab supported with funding from Fauci’s employer NIH.
Related: RFK Jr. Warns of Serious CBDC Threat to Liberty
Two of the biggest pushers of CBDCs, the Chinese Communist Party (CCP) and the World Economic Forum (WEF), also have or are working on social credit scores. As even leftist WIRED noted, China’s digital yuan allows the government increased surveillance of purchases. But it also allows the government to cut off a person’s money and prevent him from buying or doing anything. The social credit score and digital yuan are linked. For instance, during the recent anti-regime protests in China, the CCP turned many protesters’ social credit QR codes red, which stopped those individuals from buying anything or going anywhere.
The WEF is already partnered with the Dutch and Canadian governments to roll out a digital ID. The WEF previously described its digital ID in a detailed report. According to the WEF, this digital ID would be required to access healthcare, transportation, shopping, social media platforms, and government services (including voting); to open a bank account; and to own an electronic device, among other things. All of that, at the mercy of the government. Post one tweet deemed “hate speech,” attend an event of which the current administration doesn’t approve, or exhibit other “undesirable” behaviors, and you’re cut off from society. Again, the WEF is already partnered with two governments to roll out a digital ID.
Remember: the WEF is also the entity that described the world created by the United Nations’ 2030 Agenda as a world where you “own nothing, [and] have no privacy.” That WEF piece, after praising the supposed wonders of this new utopian world, added, “Once in a while I get annoyed about the fact that I have no real privacy. Nowhere I can go and not be registered. I know that, somewhere, everything I do, think and dream of is recorded. I just hope that nobody will use it against me.” The U.S. government works with both the WEF and the UN — particularly the latter, of course.
That future is closer than you might think. In March 2022, Biden signed an “Executive Order on Ensuring Responsible Development of Digital Assets” that called for “research and development efforts into the potential design and deployment options of a United States CBDC.” Then the White House Office of Science and Technology Policy in Sept. 2022 issued a brief called “Technical Possibilities for a U.S. Central Bank Digital Currency.” And the Nov. 2022 G20 Bali Leaders’ Declaration, endorsed by Biden and published on the White House website, specifically supports “Central Bank Digital Currencies (CBDCs).” Biden has pandered to China throughout his presidency; don’t be surprised if he takes a page out of China’s book on digital currency and social credit scores. Biden already did a minor-scale version with vaccine passports during COVID-19 lockdowns.
All of this is to say that CBDCs are certainly coming, if world governments (including the Biden administration) succeed in their current goals. And if they do, be prepared for tyrannical social credit scores and digital IDs to follow.
