Central Bank Digital Currencies Are the Ultimate Tool of Financial Oppression
from Birch Gold Group:
From Brandon Smith
Currencies are the lifeblood of a nation’s trade and its economy. When a currency fails, the entire economy collapses.
Even so, most people rarely think about the health or buying power of the money in their pockets. They watch their bank balance, their brokerage or IRA balance and are aware of their home’s value. They see those numbers change, but they never reflect on the value of the currency itself.
Most people don’t know how often currencies falter, and how regularly inflation or stagflation plunge entire nations into crisis through the loss of buying power. Most people just assume that the money they have will be as useful tomorrow as it is today. They also assume that money will never change in a dramatic or meaningful way.
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They are grossly mistaken.
As Ray Dalio puts it in his latest book, “Of the roughly 750 currencies that have existed since 1700, only about 20 percent remain, and all of them have been devalued.”
For the majority of Americans, money is a total mystery. They don’t understand where it comes from and especially where it goes. It’s not financial irresponsibility, not exactly. It’s more a fundamental misunderstanding of what money is and what it represents.
Our educational systems don’t explore how money is created. It’s not discussed in schools. The real story is avoided in colleges and universities. The mainstream news rarely mentions it. People think our government and Department of the Treasury handles all of that, but the reality is that our government does not create our money – at least, they’re not in charge of the process.
The central bankers are, and they operate from a “quasi-independent” position.
For example, former Federal Reserve chairman Alan Greenspan once openly admitted that the central bank “answers to no one” and does not follow orders from the government. They do what they want when they want. Specifically, he said:
Well, first of all the Federal Reserve is an independent agency and that means basically that there is no other agency of government which can overrule actions that we take. So long is that is in place, and there is no evidence that the [presidential] administration or the Congress or anybody else is requesting that we do things other than what we think is the appropriate thing.
This attitude should concern you because it is a long held argument among critics of the Fed that they are an unelected body with ultimate power to destroy the economy and the dollar at will.
They could do it anytime they wanted to. There’s no legal means of recourse.
Granted, the U.S. President gets to “choose” the next successive chairman (from a list of candidates that is given to him by the Fed, of course).
And Congress could conceivably call for a full and complete audit of the Fed’s financial actions and policies (as Ron Paul repeatedly called for), but it will never happen.
The Fed would never allow it.
Our central bank, the Federal Reserve, is the most powerful institution in our nation by far.
They are completely unaccountable and uncontrollable.
So, what “soft” controls exist over the Fed?
There is only ever the question of public reaction; this is the one thing the bankers fear.
They are terrified that the public will learn what the central bank does.
Their nightmare is that their actions and policies will anger the public enough to inspire rebellion. They’re haunted by the knowledge that, one day, the torches and pitchforks will be raised in the lobby of the Eccles Building.
So, they cover their tracks, always on the lookout for scapegoats. They blame supply chains and consumer spending and worker shortages and Vladimir Putin for the damage they caused.
Apologists for the Fed claim that the central bank only creates money from thin air when the government asks them to, and so it’s the politicians that are to blame. So if you don’t like it, get out and vote!
This is a lie. The politicians go begging to the Fed for more money, and the Fed obliges, while also creating tens of trillions of dollars on the side for their friends in the corporate world.
I know this sounds conspiratorial, so let me prove it.
There’s one time in history that a Fed policy action was audited by the Government Accounting Office (GAO) back in 2011.
Note, this was not a “full and complete” audit, not by any means – it focused on a single set of bailouts enacted by the bank, and it was only allowed because the public was starting to get wise to the bank’s activities (thanks to Ron Paul’s presidential campaign).
In short, this audit was designed to shut people up.
Instead, it uncovered a web of deceit so startling, the media swept it under the rug. Over $16 trillion in fiat money had been conjured by the Fed in the span of a few years, while the original claim was that “mere billions” had been created for the bailouts starting in 2008. (Here are some of the highlights.)
Keep in mind that the audit was limited only to a particular set of bailouts; it was not an audit of the Fed’s entire operation.
We truly have no idea how many dollars the central bank has created out of thin air since the credit crash began. We can only reference the Fed’s own data, which, let’s be frank, is probably not very honest.
Central Bank Digital Currencies are the cornerstone of a totalitarian empire
The sole factor that limits central banks from total monetary dominion is the fact that physical dollar holdings and even digital bank transfers can be accounted for. Once those dollars are out in the ether there’s not much the central banks can do to hide them and eventually, inflation will reveal the truth.
