Banking
MINNEAPOLIS FED PRESIDENT, NEEL KASHKARI ON CBDCS: “WHY WOULD THE AMERICAN PEOPLE BE FOR THAT?”
Dec
This is a great montage produced by the Reawaken American Tour’s Clay Clark about the Central Bank Digital Currency (CBDC) that is now being soft-launched in several countries around the world, including in the US, featuring clips of Klaus Schwab that suggest these will be merged with your digital identity, which in turn will be tied to tracking technologies to be implanted into your body – and which many believe have already been implanted via the Death Shot.
We see a short clip of the General Manager of the Bank for International Settlements, Augustín Carstens explaining what distinguishes CBDCs from cash:
“A key difference with the CBDC is the central bank will have absolute control on the rules and regulations that will determine the use of that expression of central bank liability and also, we will have the technology to enforce that. Those two issues are extremely important and that makes a huge difference with respect to what cash is.”
Fortunately, the Federal Reserve System does have some good people, like Minneapolis Federal Reserve President, Neel Kashkari, who is publicly “skeptical” about CBDCs, saying here:
“I keep asking anybody – anybody at the Fed or outside of the Fed to explain to me what problem this is solving? I can send anyone in this room $5 with Venmo right now. Seriously. So what is it that a CBDC could do that Venmo can’t do? And all I get is a bunch of hand-waving. ‘Well, maybe it’s good for financial inclusion.Maybe it’s better for cross-border remittances.’
“Maybe? Is there evidence that it is? And they say, ‘What about China? China’s doing it.’ Well, I can see why China would do it. If they want to monitor all of your transactions, you could do that with a Central Bank Digital Currency. You can’t do that with Venmo.
“If you want to impose negative interest rates, you could do that with a Central Bank Digital Currency. You can’t do that with Venmo.
“And if you want to directly tax customer accounts, you could do that with a Central Bank Digital Currency. You can’t do that with Venmo.
“So I get why China would be interested. Why would the American People be for that?”