Cryptocurrency

The Dangers of Cryptocurrency - Catherine Austin Fitts

[I believe she is speaking about CBDCs “central bank digital currency” See chart]

 

One might want to read this also: https://www.zerohedge.com/geopolitical/you-aint-seen-nothing-yet-digital-yuan-can-be-turned-light-switch

You Ain't Seen Nothing Yet: The Digital Yuan Can Be Turned Off Like A Light Switch”

[imagine one purchased crypto and didn’t know that there was a cut-off date for spending? another way to control!]

Bank of England launches plan for Central Bank Digital Currency

• The Bank of England and HM Treasury have today announced the joint creation of a Central Bank Digital Currency (CBDC) Taskforce to coordinate the exploration of a potential UK CBDC. A CBDC would be a new form of digital money issued by the Bank of England and for use by households and businesses. It would exist alongside cash and bank deposits, rather than replacing them.
• The Government and the Bank of England have not yet made a decision on whether to introduce a CBDC in the UK, and will engage widely with stakeholders on the benefits, risks and practicalities of doing so.
• The Taskforce aims to ensure a strategic approach is adopted between the UK authorities as they explore CBDC, in line with their statutory objectives, and to promote close coordination between them. The Taskforce will:

Source:  unitynewsnetwork.co.uk 

Morgan Stanley: If A CBDC Gains Acceptance For International Transactions, It Could Become The New Reserve Currency

• Central Bank Digital Currencies – The Next Disruption
• We do not usually associate disruption with central banks. But a major move to introduce central bank digital currencies (CBDCs) could actually disrupt the financial system.
• CBDCs are a new form of digital cash intended to serve as a substitute for physical cash. They will be a liability of the central bank, which will maintain them in a centralized ledger. CBDCs should not be confused with cryptocurrencies, which either are pegged to an underlying asset or backed by a public blockchain. Cryptocurrencies are not a viable form of digital cash for payments on a large scale, given the high computational and energy intensity of the validation process using distributed ledger technologies.  
• Efforts to introduce CBDCs are gaining momentum, with as many as 86% of the world’s central banks exploring digital currencies. China has launched pilot trials in a number of cities, the ECB recently concluded a public consultation on a digital euro and will make a decision this summer, and the Boston Fed is set to release its initial research in the fall.

Source: zerohedge.com