Could cyber attack bring in digital slavery?
Cashless society threat is a nightmare we must wake up to WILL a cyber attack lead to us waking up to a cashless society powered by Central Bank Digital Currencies (CBDCs) and a digital ID?
This might sound like the plot of a dystopian science fiction movie – but it could be our reality and the climax of ‘the great reset’.
Let’s back up a bit here and set the scene. Fiat currencies (government-issued currency that is not backed by a commodity such as gold) start life with a backing to give them value. The dollar was backed by gold until President Richard Nixon took it off the gold standard in 1971.
And the great British pound was originally backed by 1lb of sterling silver, hence pound sterling. Fast forward to today, and these fiat currencies are backed by nothing more than a promise from the banks. They are designed to keep people poor via inflation. And they do so because central banks print money (create it out of thin air), slowly devaluing the currencies over time.
The primary reason they do this is to make their debt more serviceable. But what happens after years of monetary debasement? And what happens when central banks lose control of their 2% annual inflation target? The answer is simple: fiat currencies by design tend towards zero until they eventually reach zero (think Zimbabwe, Venezuela, and the Weimar Republic).
Today, we just so happen to be alive at the final stages of this fiat currency cycle. With the euro at 20- year lows, the yen at 24-year lows and the pound at 37-year lows, we are seeing the collapse of fiat before our eyes. Worse still, with a backdrop of double-digit inflation, the Bank of England and the Bank of Japan continue to print exponentially more money to try to save their rapidly imploding bond markets, pensions and dying economies.
History tells us that all currencies first collapse into the world reserve currency (that would be the dollar this time around), before the world reserve collapses and the whole system requires resetting.
Usually a new country claims the world reserve status, backing the new reserve against gold to ensure value, stability and public trust, before the whole pony show starts over again. But what if this time, central banks decided to utilise technology to control this reset and implement a totalitarian takeover? That’s where the CBDCs and digital IDs come in.
CBDCs are digital fiat currencies issued by central banks. In practice, the daily user experience would be very similar to using a debit card or paying contactless with a smartphone. Beep the merchant terminal to pay and off you go. But CBDCs have a sinister iteration that should make you want to resist them at all costs. First, CBDCs are a direct line from central bank to the people, with no requirement for any intermediary banks. CBDCs operate on a blockchain which is an immutable ledger, meaning the record of transactions can never be changed.
By using CBDCs, a record of everything you ever purchased will be kept forever. Everywhere you went, every prescription, everything you ate, wore, or watched will be on a public blockchain forever. Worse still, CBDCs are programmable money. This means CBDCs can come with stipulations, e.g. you can only spend money if you have met injection requirements.
They can be productrestricted, so that they only allow you to purchase pre-approved items. And they can even come with expiry dates e.g. spend within two weeks or two years, or lose it. These are not speculations; these are part of the design, and stated inside the white papers for each of the CBDCs. As if that’s not bad enough, expect to pay negative interest rates (yes, really, they want you to pay the bank to keep your money there). So how exactly are these to be rolled out?
No one will accept CBDCs unless there is no other choice. Central banks will continue to debase their currencies until the cost of living increases so much that the public will beg the government for a solution. That solution will be a monetary reset, with the roll-out of CBDCs, heading towards a cashless society and worst of all, digital ID and social credit scores.
But all of this will leave the people angry at the government and central banks. And the intermediary banks will still be operational. Hence, the World Economic Forum tells us to ‘prepare for a cyber-pandemic’. CBDCs are being tested right now; countries including Australia, India, Hong Kong, China, Japan, Korea and even the UK all have their CBDCs developed, tested and ready to go. The U.S. Federal Reserve launched its CBDC for testing last month.
Digital IDs are closer than most realise too. The Prime Minister, Rishi Sunak, has ties to the WEF, and his father-in-law, Narayana Murthy, is the founder of software giant Infosys – which has developed a digital ID system similar to the one used in China. Could a cyber-attack be used to bring in these new cashless systems?
Could an internet blackout be the climax to this financial reset that sees us waking up to a new digital, cashless economy, full of totalitarian systems like CBDCs, digital IDs and social credit scores like they have in China?
Read more at thelightpaper.co.uk
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Tom
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As the digital and virtual reality worlds expand, slavery and prison engulf your life. There is a strict limit to how much technology is prudent and useful. This ain’t it.
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Greg Spinolae
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Internet blackout and digital anything are probably incompatible. Internet blackout is more likely to kick digital currency and digital ID into the long grass for quite some time and even galvanise the objections to both.
Internet blackout is the very last thing digital-everything acolytes want.
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Howdy
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Cyber attacks are a continuous process happening every day of the week, and for every would be ‘black hat’, there’s likely an equally resourcefull ‘white hat’ ready to play ball.
Random people’s computers are part of an attack many times since they are overtaken and remotely controlled, and the owner has no clue their machine is a ‘zombie’, so it is wise to educate the masses on the art of true security, but you know how it is? Many couldn’t care less, with excuses such as,”there’s nothing on my computer worth having”, yet nothing is farther from the truth. Others don’t know and think their machine is secure via the OS vendor. Windows NT Version 11? Don’t make me laugh. Microsoft are idiots.
Digital currency is prone to failure, prone to miss-use, as well as attack. May I suggest it will be the digital currency centers that will be subject to the attacks.
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Lorraine
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Digital anything lacks safeguards to avert disasters caused by EMP.
Is this not the case? If the system went down, all forms of commerce would come to a screeching halt.
Another moronic idea brought to you by the minds that conceived “green” energy sources would replace fossil fuel. Now you can graduate university with a Bachelor of Stupidity degree, gives new meaning to BS. With further study, one can achieve an MS or even a Doctorate in stupidity.
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