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“You could have a potentially […] darker world where the government decides that [CBDC] can be used to purchase some things, but not other things that it deems less desirable like say ammunition, or drugs, or pornography, or something of the sort”: Eswar Prasad, WEF #AMNC23 pic.twitter.com/KkWgaEWAR5

— Tim Hinchliffe (@TimHinchliffe) June 28, 2023

COGwriter

The World Economic Forum’s (WEF’s) Summer session has been taking place in China over the past few days.

Here is a report related to part of it:

WEF elites admit potential for ‘darker world’ where CBDCs could be gov’t-controlled

Programmability is a key feature of CBDC, where governments, banks, and their customers could have total control over when, where, and how your money is spent.

June 30, 2023

Governments can program Central Bank Digital Currencies (CBDCs) with expiry dates and to restrict undesirable purchases, according to a discussion at the World Economic Forum (WEF) “Summer Davos” meeting in China. … in Tianjing, China, Cornell University professor Eswar Prasad said that “we are at the cusp of physical currency essentially disappearing,” and that programmable CBDCs could take us to either a better or much darker place.

“If you think about the benefits of digital money, there are huge potential gains,” said Prasad, adding, “It’s not just about digital forms of digital currency; you can have programmability – units of central bank currency with expiry dates.”

“You could have […] a potentially better – or some people might say a darker world – where the government decides that units of central bank money can be used to purchase some things, but not other things that it deems less desirable like say ammunition, or drugs, or pornography, or something of the sort, and that is very powerful in terms of the use of a CBDC, and I think also extremely dangerous to central banks.” [Emphases added] …

“So, there are wonderful notions of things that can be done with digital money, but again I fear the technology could take us to a better place, but equally has the potential to take us to a pretty dark place.” …

Speaking at a high-level roundtable on CBDC in Washington, D.C., in October 2022, International Monetary Fund (IMF) deputy managing director and former People’s Bank of China (PBoC) deputy governor Bo Li said of CBDC programmability:

“CBDC can allow government agencies and private sector players to program – to create smart contracts – to allow targeted policy functions. For example, welfare payment; for example, consumption coupons; for example, food stamps.” [Emphasis added]

“By programming CBDC, those money can be precisely targeted for what kind of people can own and what kind of use this money can be utilized,” he added.

So, while Lagarde says that central banks have no interest in programming CBDCs, central banks around the world are indeed exploring programmability, even if the central banks themselves are not the ones doing the actual programming. …

Programmability is a key feature of CBDC, where governments, banks, and their customers could have total control over when, where, and how your money is spent. https://www.lifesitenews.com/analysis/wef-elites-admit-potential-for-darker-world-where-cbdcs-could-be-govt-controlled/?utm_source=top_news&utm_campaign=usa

While there are some pluses with a digital currency, biblically we know that the darker side, the controlling of buying and selling, is coming.

Supposedly to prevent this, European leaders interested in a digital euro have proposed some safeguard:

EU Publishes Digital Euro Bill Featuring Privacy Controls, Offline Guarantee

June 28, 2023

BRUSSELS, Belgium – The European Commission published its legislative plans to underpin a digital euro on Wednesday, saying it would ensure Europeans can pay digitally for free across the currency zone. …

“The euro is the most tangible symbol of European integration,” said ECB President Christine Lagarde in a statement to the press. “We look forward to continuing working together with other EU institutions towards a digital euro to ensure our currency is fit for the digital age.”

The legal proposals seek to ensure the digital euro can be used offline, offering a level of privacy equivalent to that of cash. It forbids the CBDC from being “programmed” to limit the goods it can be used to buy, though officials say it could still be used to underpin conditional payments, such as a monthly payment for a utilities bill, or a more complex smart contract. https://www.coindesk.com/policy/2023/06/28/eu-publishes-digital-euro-bill-featuring-privacy-controls-offline-guarantee/

June 28, 2023

The European Central Bank is due in October to decide whether to push ahead with a digital euro. The rules proposed on Wednesday would make it legal tender, meaning it would have to be accepted as a form of payment. https://www.irishtimes.com/business/2023/06/28/eu-gives-legal-backing-to-digital-euro/

Notice something else from the ECB this past Summer:

ECB Says Cash “Not Fit” For Digital Economy, Dismisses CBDC Privacy Concerns

August 24, 2022

In the digital economy, cash is no longer a useful tool, and a central bank digital currency (CBDC) is the “only solution” to continue the existing monetary system, according to a new paper from the European Central Bank (ECB).

The eurozone’s central bank recently published a paper titled, “The Economics of Central Bank Digital Currency.” Authors assessed the implications for the financial system and examined data privacy and digital payments.

Researchers concluded that a CBDC, like a digital euro, would be the “only solution” to facilitate a “smooth continuation” of the present monetary system. Despite widespread concerns that CBDCs would limit the credit supply and function as a disruptive force in the financial markets, the paper rejected these concerns as being unfounded.

Digital money is critical in a digital economy, the ECB noted. Since “cash is losing its appeal as efficient means of payment,” a CBDC is a necessary tool to install. Although the research identified drawbacks of instituting a uniform digital monetary system, such as the sluggish pace of settlements, market developments, and adoption, the paper noted that “a digital update of cash” is crucial to advancing “the two-layer system of public and private money.”

Ultimately, cash possesses “large economic costs without clear benefits,” so “it is by construction not ‘fit’ for the digital age.”

Digital money might generate privacy concerns, authors warned. …

The paper also rejected cryptocurrencies and stablecoins, calling them a “threat to monetary sovereignty.” https://www.zerohedge.com/crypto/ecb-says-cash-not-fit-digital-economy-dismisses-cbdc-privacy-concerns

Although some have claimed with a digital euro that:

No one will be able to control how you use your euros (see ‘EU proposes giving legal backing to digital euro’)

Perhaps it is somewhat true now but the proposed privacy guarantees, according to scripture, will not remain in place. Europe is prophesied to reorganize and turn power over to a dictator the Bible calls the Beast:

12 “The ten horns which you saw are ten kings who have received no kingdom as yet, but they receive authority for one hour as kings with the beast. 13 These are of one mind, and they will give their power and authority to the beast. (Revelation 17:12-13)

Biblically, moves toward a digital euro appear to be a step towards ‘666’ control.

Others realize that control looks to be the objective as the following suggest:

The digital euro could usher in total state control

April 20, 2023

CBDC stands for “Central Bank Digital Currency.” PR consultants and journalists prefer to use the term “digital euro,”  … behind all of this, total surveillance awaits.

The ECB’s planned digital euro works like Bitcoin on the basis of blockchain technology, but with a few key differences. … the blockchain on which the digital euro is based is not public and is managed centrally. All transactions go through the European Central Bank (ECB) network, which means there is no transparency whatsoever. Already, no one really knows how many euros are in circulation because they can be printed at will by the ECB. …

In the future, each of us will have a personally assigned account with the central bank. Every transaction can be tracked by the central bank and its associated authorities. The authorities can and will collect information about anyone who sends money to your wallet, who you send money to, how much money you spend, when you spend it, where you spend it, and on what. The authorities will know how often you go to the hairdresser, whether you have a subscription to the gym, whether you like to eat bananas, and how much money you spend on cat food. https://rmx.news/germany/the-digital-euro-could-usher-in-total-state-control/

The Danger Lurking Behind Government Digital Currency

The fact that “only” the government will have access to transaction information should not be comforting. Many people use cash in transactions exactly because they want the transaction to remain anonymous. Governments don’t like things they can’t control, and that’s a big impetus for the war on cash.

The government can easily track digital payments made with its own digital currency. 03/01/21 https://schiffgold.com/key-gold-news/the-danger-lurking-behind-government-digital-currency/

Biblically, it is certain that massive state control over buying and selling will come to Europe (cf. Revelation 13:16-18)– as I have written for many years, some type of electronic currency will be involved. Other prophecies also point to persecution and censorship.

For years, Europe has been taking steps moving towards control and surveillance, including that of buying and selling.

Back in November 2018, the European Union announced it would spend a billion euros on a quantum computer and several billion more on related matters (see EU to spend one billion euros on quantum tech to compete with USA and China; France’s Macron wants European military spending to go to European firms; ‘Europe Must Rebel’). This will assist with surveillance.

In December 2020, the European Union (EU) unveiled its Digital Services Act. I warned it had totalitarian implications then (see ‘EU ‘regrets’ new US tariffs’ & ‘EU Unveils New Rules to Curb Technology Companies’) and earlier this year (see IL: Censor The Internet Act: EU Agrees to Expand Online Censorship With ‘Digital Services Act’).

The EU keeps pushing faster and faster for monitoring and censorship.

Europe wants to set the standards for digital tech for the world as the euobserver reported: https://euobserver.com/democracy/154207

Setting the standards will also lead to more controls and, ultimately, contribute to the actual apocalypse.

Consider:

WEF-star, The Netherlands, meanwhile is marching full steam ahead in the opposite direction. If Finance Minister Sigrid Kaag has her way, all transactions over 100 euros will be monitored by the banks in the future – a massive invasion of privacy. In addition, unsurprisingly, the minister is campaigning for the introduction of the digital euro.  …

ECB boss and WEF foundation board member Christine Lagarde has been harping on about the advance of foreign corporations in European payment transactions. https://freewestmedia.com/2022/11/14/cancelling-cash/

Dutch Finance Minister, Sigrid Kaag has a close connection to the World Economic Forum–so despite some warning of dangers, the trend is towards a digital euro.

Although various ones in the EU are warning against various controls and claiming to push for rights and privacy, the biblical reality is that Europe will become totalitarian itself (Revelation 13; see also EU summits to push for ‘European industry strategy’ and ‘proper’ thinking and EU proposes billions for ‘Digital Europe’ surveillance: This would assist 666).

Item number 13 of 23 items to prophetically watch in 2023  was titled CBDC and 666. Related to that, last year I wrote:

While 2023 will not see a cashless world, expect to see more movements towards monitorable payments.

Expect to see more steps related to Central Bank Digital Currencies in 2023.

This is happening.

Furthermore, Europe wants to dominate big tech itself. It is working on many ways to bypass the USA (e.g. Der Spiegel says Europe needs to employ ‘clever resistance’ as it works towards a post-USA world).

Plus, it has already taken various steps in order to do so.

The Bible shows that a European, totalitarian dictator will rise up (Revelation 13, 17:12-13)–and this will NOT end well for the USA (cf. Daniel 11:39), the Middle East (Daniel 11:40-43), or Europe itself (Daniel 11:44-45; Revelation 17:14; Revelation 18).

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This entry was posted on Friday, June 30th, 2023 at 2:40 pm and is filed under Prophecy.

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