Central banks around the world are racing to get a central bank digital currency (CBDC) and stablecoin (a cryptocurrency that is tethered to prevent massive fluctuations, especially when used for trading) implemented. It’s one of the biggest trends today: “From Dirty Cash to Digital Trash,” as groups like The Trends Journal would say.
For example, last year G20 leaders signed a pact that pledges to create a CBDC for their respective countries, with cross-border transaction capabilities for trade, moderated by the Bank for International Settlements (BIS).
Moreover the U.S. Federal Reserve has already began to trial their own CBDC with some of the megabanks in the country (BNY Mellon, Citi, HSBC, Mastercard, PNC Bank, TD Bank, Truist, U.S. Bank and Wells Fargo). They have also discussed and have been working on a carbon-based social credit score with the largest banks in the country with some of the megabanks, too (Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo).
But the recent debacle concerning the collapse of Silicon Valley Bank, and others that have followed suit, prompting bank runs and a transference of assets to these much larger institutions – some have wondered if this collapse was a deliberate move to pave the way forward to bring CBDCs to the forefront.
CryptoSlate has more on this theory:
Nic Carter voiced his suspicions that the recent U.S. banking crisis was a ruse to accelerate Central Bank Digital Currency (CBDC) adoption.
The General Partner at Castle Island Ventures said the weekend turmoil strengthened the case for CBDCs. Now “no one trusts” banks — CBDCs provide a solution by taking them out of the equation and having a direct link between people and the central bank.
The political case for CBDCs became much, much stronger this weekend. the issue with CBDCs was always disintermediating commercial banks, but now that no one trusts commercial banks…
It’s important to note that different CBDC models exist, including the “wholesale” model, which uses banking intermediaries.
Nonetheless, as further details of the banking crisis come out, including allegations of a deliberate ploy to smear cryptocurrency, Carter’s assessment holds more weight.
SEE: Central Bank Digital Currencies Would Bring Hyperinflation
U.S. Banking Sector In Turmoil
On March 9, Silvergate announced winding down its operations following liquidity issues. The “crypto-bank” said it was struggling amid a Q4 2022 surge in withdrawals — prompting the forced selling of assets at a loss to cover its withdrawal liabilities.
Silicon Valley Bank was taken over by the Federal Deposit Insurance Corporation (FDIC) on March 10, as the ailing tech lender was subject to a liquidity crisis from a spate of mass withdrawals.
The incident sparked discussion on how the U.S.’s 16th largest bank could become so exposed, especially as it remains well capitalized.
Likewise, New York regulators shut down Signature Bank on March 12, saying it was necessary to stop the banking crisis from spreading.
The Fed announced its Bank Term Funding Program (BTFP) in response to the crisis. The program will loan financial institutions the par value of assets held, thus ensuring the system is sufficiently liquid.
Anti-Crypto Message
Signature Bank board member and former U.S. representative Barney Frank told CNBC the bank faced no insolvency concerns and was arbitrarily seized. Frank put this down to regulators wanting to smear the crypto industry.
I think part of what happened was that regulators wanted to send a very strong anti-crypto message.
Adam Cochran, Partner at Cinneamhain Ventures, said it was worrying that FDIC protocols could be used to “screw over” Signature Bank shareholders.
Cochran spoke of political wrongdoing to push a hidden agenda. He called the actions a thinly veiled attempt to bully the crypto industry.
Regulators try and bully the industry without letting it get to that because they know they can’t fight on a fair playing field.
Chiming in, Bitcoin maximalist Jimmy Song said the BTFP effectively nationalizes the banking sector, making a CBDC the “natural progression” from here.
Critics argue that CBDCs have the potential for financial tyranny, such as dictating how and where money can be spent.
SEE: Ways To Resist And Slowdown The Introduction Of Central Bank Digital Currencies
AUTHOR COMMENTARY
It is rather interesting when realize that SVB, along with Signature Bank and First Republic, all had holdings and investments from large cryptocurrency exchanges.
SEE: 666 Million Worth Of Assets Held By Swedish Pension Firm Tied-Up In Collapsed American Banks
As I have reported previously concerning this issue, this is a clear consolidation of power that allows the bigger banks to eat-up the smaller ones, causing customers to move their assets to the larger ones as the smaller ones begin to finally crack and fall apart.
But the dirty little secret they don’t want to tell people is that the banks are insolvent and illiquid, including the supposed “too-big-to-fails.” The savings rate is in the toilet, new and frequent deposits are very little, banks are afraid to lend right now, the consumer is living paycheck-to-paycheck, has unpayable debt, subprime auto loans and mortgages on homes they cannot afford, commercial real estate bust; as inflation rises and consumers don’t want to spend, as interest and mortgage rates rise.
They are in trouble. These banks are holding onto all sorts of bad debt, junk bonds, treasuries, securities, and more, in a fractional reserve system where they are not being mandated to hold onto anything above $0 on their capitol reserves (which would contract the money supply and cause inflation to greatly contract) – so, as rates continue to rise, the banks have to pay significantly more to hold onto these investments that they bought at super low prices, believing the near-zero lending rates would continue forever it seemed. But the FED is determined to crash the economy and consumer, and the SVB is a big canary in the coalmine to prove this.
Thus, to me, this also appears to be a planned fracture in the system to soon float-out their CBDC. They will not mandate it of course, but sooner or later mainstream media will start to propagandize this concept to the masses.
But we know better. Don’t fall for it.
The rich man is wise in his own conceit; but the poor that hath understanding searcheth him out.
Proverbs 28:11
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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Hey brother,
Have you gotten my email about the sandstorm that devastated Brazil after they had that super blasphemous parade in Rio?
That is so worthy of a report!
My last salary was $8750, ecom only worked 12 hours a week. My longtime neighbor estimated $15,000 and works about 20 hours for seven days. y6 I can’t believe how blunt he was when I looked up his information See My Name Check Visit,
Jacob oh ony goodness i found magog well the name , in gen 10 japheth named one of his sons magog so could this be a link to which countey it is. that means we can look at all tge natuons that came from japeth and his sons and start to narrow it down.
right!?
jacob my message i just write a few minutes ago didnt take to the site it was about magog in gen 10 and how it could be a L i n k …. oh yeah now i remmeber its the work L i n k tgat tiggers the filter and now i know why it didnt take… i keep forgetting lol
anyways i was reading in gen and came across the name of one of japeths sons: magog. could this a connection to the gog and magog in revelation, as in figuring out which nation magog son of japeth fathered?
I think the crypto firm collapse, the recent run on the banks are precursors to the introduction of the US CBDC.
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I found something in a sermon by Peter Ruckman concerning the possible fate of the railroads which he preached sometime in the 80s or 90s (he mentions Jean Dixon, so maybe even the 70s) that I thought was kind of interesting considering these days of deceit, false flags, etc. The title of the sermon is “The Everlasting God” and it is on YouTube and you can start around the 23 minute mark if you don’t have time to listen to the entire sermon, which, of course, is good, too..
It would not surprise me if this, as someone else referred to it, was a beta test for bringing in the new world order digital banking system. And we all know, or should know, who the real culprits are. It’s the ones who create the chaos in the first place, and then come in and offer their “magnanimous” solutions….the good old Whore of Revelation 17.