By Ernst Wolff
Global Research, June 24, 2021
The world is currently in the midst of the biggest economic and social experiment of its entire history, with big tech trying to completely digitize our entire lives.
Under the pretext of preventing the spread of a disease, we are being pushed to work from home, learn via homeschooling, shop only online, communicate via internet conference platforms, and to have our movement and contact profile recorded via tracking apps.
Digitization is also being forced upon us in the financial sector: Bank branches are being closed, cash is being pushed back, and central banks are working on what is by far the most important project of our time: the introduction of central bank digital currencies (CBDC’s).
At the same time, we are experiencing an ever-greater loss of our fundamental rights. Governments have restricted our freedom of travel and taken from us the right of assembly, while freedom of expression is being increasingly curtailed by social media.
There is a direct link between these developments: The future into which we are being led, cannot be reconciled with the principles of democracy. This is caused by the fact that we live in a society dominated by an extremely wealthy and extremely powerful, but at the same time tiny, minority. Their greatest interest is to maintain their own prosperity and power. Therefore, digitization is not for our benefit, but for the benefit of this minority.
However, since digitization itself offers tremendous opportunities for democratization and could thereby endanger the rule of the few, this tiny minority is forced to constantly resort to new mechanisms of oppression.
An example of this development is China, where the government monitors, controls its subjects like no other country on earth. The fact that this government, of all things, is provided by a communist party shows that the ideology of those, who sit at the levers of political power, is completely irrelevant.
This is because there is a force that stands high above all governments, pulling the strings in the background, a force that exists in China just as it does in the US or in any other country. It is the digital-financial complex, the symbiosis of the most powerful corporations in the digital and financial sectors.
This complex has managed to concentrate more money and more power in its hands than any force in human history. It has done so by controlling the two most important lifelines of our time: global data and financial flows. However, this complex has for some time been facing a huge problem: The monetary system, on which its power is based, broke down in March 2020. After being artificially maintained for more than 12 years by money creation and interest rate cuts, interest rates have reached zero, leaving only unconditional money creation. But this leads straight into the devaluation of money.
Now this devaluation of money is not at all inconvenient for the digital-financial complex, because it is currently facing the highest level of debt of all times – and inflation is a highly suitable means of getting rid of these debts. But what happens once inflation has eliminated much of the debt? There is a plan for that, too, namely the introduction of CBDC’s. But this will change our lives in a historically unique way, and certainly not for the better.
Money has two basic properties: It is a means of payment and an instrument of power. As such, it has always been used by those who issued it to consolidate and expand their grip on others. This has been done in a variety of ways: by charging interest, by sparking inflation, by tying credit to conditions, or by entangling people in a web of debt.
These undemocratic characteristics of money as an instrument of domination are now to be taken to extremes. In the case of the CBDC’S, which will almost certainly be introduced in the form of what is euphemistically called a ‘universal basic income’, entirely new dictatorial mechanisms will be added to the old ones:
It will be possible to control the recipients’ consumer behavior, making saving impossible for them and forcing them to spend the money for specific purposes within predefined time periods. It will also be possible to reward good behavior, punish criticism and even cut off individuals from all financial flows.
CBDC’s will be the core of a coercive social regime that will largely manage without overt violence because it can stifle any opposition without people noticing. CBDC’s will be an almost perfect means of controlling, manipulating, and conditioning the population, leading to a largely invisible exercise of power. When this new money is introduced, it will be nothing less than the most profoundly intrusive monetary reform of all time.
All of this sounds unsettling, and the prospects are indeed depressing, as this development has been dramatically accelerated in recent months by the lockdowns. So, will we no longer be able to escape this new monetary regime?
This depends on only one factor, namely: the awareness of the majority of the people. At present, only a tiny part of the population even knows about this project, because it is largely kept secret by politicians and the mainstream media. And even those who do know about it are mostly unaware of its dramatic consequences.
For this very reason, it is of utmost importance to make it clear to as many people as possible what CBDC’s herald: the end of all democracy and the final transition to a regime of authoritarian corporatism, also called fascism, based on the monetary system.
Henry Ford once said, ” “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
Such a revolution is urgently needed, not in the streets, but in the minds of people.