Category Archives: CBDC
Chinese Communist Party supervision of a government that cannot manage even the basics of social order
By Lyndesy Symonds
Welcome to 650,000 migrants this financial year
Even though The Owners of Australia Inc are working assiduously to deliver Black Minority rule overseen by the Chinese Communist Party, let us not lose sight of the fact that : demographics is destiny for any population.
And how many of those migrants will be from populations which fought for a Communist takeover and are now streaming into the West from their failed Marxist state – read shithole? How many of those migrants will be from populations that can make a contribution to Australia in terms of our way of life, our social order and values? Or will the demographics be cherry picked for the least able to assimilate and contribute? This translates into more degrading customs that we have to respect, more asinine laws to conflict with ours, another religious food tax we have to pay, I would expect.
In England, ponies that are picketed on the green outside the pub are now without recourse if a sexual emergency arises and the offending gender also has a racial entitlement to crime. And this in a nation which pioneered laws against cruelty to animals.
How a population is racially composed in its nations (as in NT ethne), is always going to be a decider in terms of social order, in terms of jurisprudence that incorporates and delivers on human and civil rights (such as the 1901 Constitution), in terms of a Marxist State at Stage 6 load shedding and Chinese Communist Party supervision of a government that can not manage even the basics of social order.
On the occasion of a state of a union address in the SA parliament – now taken over by a Communist Party and Black Rule, the red suits and Zuma are the ones who think that genociding the Boer will somehow provide water and power to the major cities.
Bank collapse in US could cause bail-ins in Australia
(Natural News) Three US banks collapsed last week (Silvergate, Silicon Valley Bank and Signature). Contagion took hold and quickly began to spread to other banks.
The entire US banking system would have collapsed starting today if not for the FDIC jumping in and offering to rescue even non-insured depositors at SVB. Normally the FDIC covers only $250K in deposits per person or institution. To try to avert a total systemic collapse, they announced in an emergency session yesterday that they would cover all deposits for these banks.
The problem is that the FDIC only had slightly over $100 billion in funds to carry this out.
Yet the total bank deposits held across America are approaching $10 trillion. (Nearly 10,000 billion.)
In effect, the FDIC only has enough funds to cover about 1% of bank deposits in America.
Even worse, banks in America have over $300 trillion in derivatives liabilities. That’s thirty times larger than the $10 trillion in deposits. The FDIC has only a tiny fraction of a fraction to even think about covering these losses, should derivatives begin to unwind.
The claim that the FDIC is bailing out depositors without using “taxpayer money” is a lie
Mathematically, what all this means is that the Treasury and Fed are going to have to print money to prop up failing banks, especially as contagion spreads and more banks crater as the Fed raises interest rates — a kind of “controlled demolition” of the US economy and stock market.
This is going to dilute the value of dollars and cause huge inflation increases across all the products you normally buy, such as groceries, housing, clothing, fuel and so on.
All this printed money is created as debt on the shoulders of US taxpayers, and the government will move to confiscate more and more money from the American people to try to shore up the financial nightmare that it created. Joe Biden is already pushing much higher taxes, even as the USA is on track (with new spending programs) to hit over $50 trillion in national debt by 2030.
Let there be no illusions about how this ends: The total collapse of the dollar, the banking system and the USA as we know it.
Perhaps that was the plan all along.
Hear today’s Situation Update podcast for full details (and an action plan to financially survive all this):
– Janet Yellen announces Treasury “backstop” of deposits for THREE failed banks
– FDIC says it will use its Deposit Insurance Fund (DIF) money
– Claims “no taxpayer money” will be used for bailout – but it’s A LIE
– FDIC only has $100 billion max, and bailouts will cost MORE
– After FDIC burns through cash, Fed will PRINT money for bailouts
– Banks encouraged to act recklessly, running risky bets that fail
– We’ve entered the chapter where Fed prints money to bail out all the failed banks
– This will cause #inflation and dollar devaluation – currency collapse
– There are nearly $10 TRILLION in bank deposits across the USA
– Over $300 trillion in derivatives exposures among banks
– FDIC has already burned through all its cash as of today
– How will FDIC cover the NEXT bank collapse?
– Rational people will pull money out of banks to reduce risk of exposure to collapse
– More people will move to gold, silver, crypto, ammo and other hard assets
– As Fed raises interest rates even higher, more banks will fail
– Controlled demolition of the banking sector and the US economy
No coincidence as Silicon Valley Bank collapse heralds total failure and makes way for the ‘Great Reset’
Socialist Shorten is after your every personal detail for new ID card
Shorten and Albanese are coming after all of your personal information held by state governments for inclusion in a new digital ID app to be combined with federal, myGov personal data.
The federal government has flagged significant changes to its myGov platform, recognising the service is now “critical national infrastructure” like roads, hospitals or the power grid.
A review of the service by former Telstra head David Thodley found the number of myGov accounts has doubled in five years, and 1.4 million Australians use the service every day.
But while the platform is heavily used, satisfaction with myGov remains low — with less than half of users satisfied overall with how it is working.
Helping people manage their response to disasters, registering births and deaths, and providing access to documents like drivers licences, seniors cards, occupational licences and Medicare cards have all been listed as priorities.
When the digital dollar starts off next year Australian people will be bound and gagged, completely at the mercy of illegitimate governments and bureaucrats.
Government Services Minister Bill Shorten said as myGov increasingly becomes part of the everyday lives of Australians, it is vital that it is as workable and user-friendly as possible.
“The myGov software, and the app, and the program, really needs to keep up with the expectations of Australians,” he said.
“The myGov app has the potential, this report says, to be a long term part of how Australians deal with government.”
“It’s a matter for negotiating with our comrades-in-arms at the state governments, and getting various federal departments on board,” the socialist Bill Shorten told the ABC.
“This [report] is the blueprint, and what we want to do — what I would like to do — over the next 12 months is articulate a calendar where we can start dropping cards in.
“We’re hoping to put the Medicare card on the app in March.”
Shorten forgot to mention that every person’s vaccination status will be included on the digital passport.
It also suggests there is more the federal government could be doing with its own service, like using it to enroll to vote, renew passports or complete the census.
CBDC is no longer a question of technological feasibility, but is it desirable?
The Reserve Bank is collaborating with the Digital Finance Cooperative Research Centre (DFCRC) on a research project to explore use cases for a central bank digital currency (CBDC) in Australia.
Considerable research has been undertaken by central banks, including the Reserve Bank, into the feasibility and possible technical design of CBDC, in particular exploring the potential use of new technologies such as distributed ledger technology. A question that has received less attention to date, especially in countries like Australia that already have relatively modern and well-functioning payment and settlement systems, is the use cases for a CBDC and the potential economic benefits of introducing one.
The project with the DFCRC will help address this gap by focusing on innovative use cases and business models that could be supported by the issuance of a CBDC. The project will also be an opportunity to further understanding of some of the technological, legal and regulatory considerations associated with a CBDC.
The project, which is expected to take about a year to complete, will involve the development of a limited-scale CBDC pilot that will operate in a ring-fenced environment for a period of time and is intended to involve a pilot CBDC that is a real claim on the Reserve Bank. Interested industry participants will be invited to develop specific use cases that demonstrate how a CBDC could be used to provide innovative and value-added payment and settlement services to households and businesses. The Bank and the DFCRC will select a range of different use cases to participate in the pilot, based on their potential to provide insights into the possible benefits of a CBDC. A report on the findings from the project, including an assessment of the various use cases developed, will be published at the conclusion. The findings will contribute to ongoing research into the desirability and feasibility of a CBDC in Australia.
The Australian Treasury is participating as a member of the steering committee for the project, as part of its joint work with the Reserve Bank on exploring the viability of a CBDC in Australia.
A paper will be published in the next few months that will explain the objectives and approach of the project in more detail and how industry participants will be able to engage.
‘This project is an important next step in our research on CBDC. We are looking forward to engaging with a wide range of industry participants to better understand the potential benefits a CBDC could bring to Australia,’ said Michele Bullock, Deputy Governor of the Reserve Bank.
Dr Andreas Furche, CEO of the DFCRC, said ‘CBDC is no longer a question of technological feasibility. The key research questions now are what economic benefits a CBDC could enable, and how it could be designed to maximise those benefits.’
About the Digital Finance Cooperative Research Centre (DFCRC)
The DFCRC is a 10-year, $180 million research program funded by industry partners, universities and the Australian Government, through the Cooperative Research Centres Program. The DFCRC’s mission is to bring together stakeholders in the finance industry, academia and regulatory sectors to develop and harness the opportunities arising from the next transformation of financial markets – the digitisation of assets that can be traded and exchanged directly and in real-time on digital platforms. The Reserve Bank is an industry partner of the DFCRC, and is using its involvement in the DFCRC to support work on its strategic focus area on supporting the evolution of payments, including through research on CBDC.
Enquiries: Reserve Bank of Australia
Reserve Bank of Australia
Phone: +61 2 9551 9720
Enquiries: Digital Finance Cooperative Research Centre
Chief Operating Officer
Digital Finance Cooperative Research Centre
Phone: +61 478 220 277
Sign the Petition asking the House to enshrine the use of cash in law, stop CBDC
60,493 have already signed. It closes on December 21
As Australian citizens we should be concerned about the disadvantages of a Central Bank Digital Currency. Traceability: In the case where physical cash is eliminated entirely this eliminates our ability to transact in a fully anonymous manner. Negative Rates: With CBDCs, you cannot withdraw your digital tokens and hold them under the mattress. If there is no option for physical cash this gives central banks ability to implement negative interest rates. Programmability: CBDCs give central banks a unique opportunity to make money “programmable”. For example: Expiration, with a direct relationship with your central bank, CBDCs could permit a currency expiration policy. Your money could be programmed so that if you don’t spend the $5000 in your account by next Saturday, it will expire. Personalised monetary policy: With a bank of Big Data on individual spending habits, coupled with digital identification infrastructure, the central bank will have enough information to tailor its monetary policy personally. For example if it is known that lower earners have a higher propensity to consume, stimulus can be directly delivered to those people. Personalised monetary policy could even become politicised. A government could segment its voters, identify communities where it is behind in polls, and deliver stimulus to these groups.
We therefore ask the House to enshrine the use of cash in law.
Principal petitioner is Daniel Warner
Revelation tells it all
Letter to the Editor
In response to the introduction of CBDC ‘Paul Hogan’ writes:
“And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
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.
Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.
666 means the Carbon, containing 6 protons, 6 neurons, and 6 electrons.
The Beast is not NWO or WHO, the Beast is the Man – ignorant, selfish, greedy, wicked, and fearful.”
CBDC is on the way as banks cancel cheque accounts
Digital currency is well on the way for Australians while the Reserve Bank continues with its implementation and banks can cheque accounts in preparation to impound all paper money as it comes over the counter.
This week Queensland-based bank Suncorp warned its customers with cheque accounts they would be deactivated in January 2023.
Suncorp also advised it was cancelling some credit card accounts because “this service is no longer available.”
As the dummies pay at the check out with their phones or cards Klaus Schwab and the WEF are salivating at the immense control banks and governments will soon have over the people as every transaction is meticulously recorded.
The Australian Taxation Office is expecting a bonanza in extra revenue it believes electronic transaction tracking will deliver.
The treacherous LNP/ALP duopoly is rushing forth to implement the WEF’s digital currency model to keep control over people’s lives as the Covid scamdemic is fast waning and a few souls finally wake up when their jabbed friends and family members suddenly drop dead.
Commerce will suffer immensely when the cost of digital implementation hits small business and families who will be forced to buy card readers for fruit and vegetable stalls, garage sales, local markets and other every day transactions.
When the internet is shut down and there is no legal tender in circulation many people, including remote indigenous communities will starve. Barter is desirable but not the answer.
Cairns News advises total rejection of the cashless society coveted by the dodgy duopoly. Ring your federal member’s office and tell them you won’t comply.
Will you take the ‘mark of the beast?’
Russia to have a ‘digital ruble’
by Alison Ryan
In this world’s economy the lust for power to rule makes war a mockery of its true intent.
There’s always been wars fought for a purpose and to defend freedoms against aggressors.
Where diplomatic talks fail, as in the case of NATO and Russia, war becomes inevitable.
The spirit behind the real movers and shakers of the Russian/Ukrainian war motivated the US and several of its allies to disconnect a few Russian banks from the Belgian-based Society for Worldwide Interbank Financial Telecommunication (SWIFT), which facilitates most commercial cross-border payments between firms banking in different countries, and to exert pressure on Russia.
No fool for the West, but certainly an international world power, Russia may have anticipated the sanctions and, so, started working on its own CBDC — the “Digital Ruble”.
According to Credit Suisse Group AG strategist Zoltan, “Russia’s central bank and private sector have almost $1 trillion of liquid wealth, with a much larger share of this held in U.S. dollars than most people realize, even after the country sold all its Treasuries holdings in 2018”.
Russia is an active member of the UN; however, the UN policies of universalism are not nationalistic and Russia is strongly nationalistic. It is well that Russia’s relations with China remain a bright spot for the Kremlin because their partner relations with China will allow Russia a remaining cooperation in an environment where Western markets are closing against them.
Given that some of Beijing’s most explicit comments on the sanctions reveal that “China is not a party to the crisis, nor does it want the sanctions to affect China”, nevertheless, “China has the right to safeguard its legitimate rights and interests.”
Australia’s role is increasing in the Asia-Pacific region and we shall do well if Australia can follow the wisdom of standout politicians who seek freedom and righteousness and reject the calls to fight someone else’s war.