Category Archives: CBDC

The following post was inspired by the following video.

I have zero idea if any of it is true or not, other than the basic workings of CBDCs which they have right.

Let’s say for the sake of this thesis that the video is correct. That people are finding work arounds with gift cards and use of cash.

The state of course has the ability to obliterate the value of cash in an instant.

Of course they wouldn’t quite do it like Rick Sanches did above, but the illustration makes the point. They can stop issuing cash. They can  do the opposite and flood the streets with cash so that no one would accept it. They can use one of a number of methods to set the value of cash to zero pretty fast and easily. The most likely way to not get a lot of resistance from the public is to force everyone in business with a tie to government, and in Canada that is EVERYONE, to pay fees, fines, rents and taxes using CBDC or they close you down. Once that happens, even the most libertarian business owner will have to demand CBDC payments from his customers or else he is out of business in an instant.

I saw this in play during the lock downs in Canada. A more or less libertarian Chinese restaurant offered to let us in during the worst of it with no vaxx passport but the state had placed spies in his restaurant who reported him the first time he did and levelled fines and closed him down for 2 weeks. His business NEVER recovered and he closed a year or two after the lockdowns ended.

I wonder if he thinks he was better off in China.

CBDCs would be far easier to force on a grand scale by the previous methods. Make all government payments CBDC only and it’s a matter of only a few months before all his clients and customers submit. People do not want to see a multi year or even multi generational business effort collapse because they don’t like how the state is doing things. They will submit.

Gaming this out with a friend on the phone, there was a way that conceivably a nation could avoid CBDC as the only method of transaction, and that could be the use of precious metals or other tradable and valuable goods and even services.

The only way that makes sense to me would be, using China as an example, a person goes to a store for a quart of milk and has an Oz of silver that is worth say, 10 quarts of milk. The merchant agrees to the acceptance of the Oz and creates a lager for that customer that gives him a credit of 9 quarts more of milk. Or, the store could issue a gift card, (so long as those remain legal), which can be scanned or otherwise updated with each new purchase. The same thing could be applied to services. You want your roof fixed, that is the equivalent of X number of Yuan or Oz of silver or whatever can reliably be used to exchange with other goods and even a hand written ledger can be created and updated as the credit is used.

Canadians would never tolerate the inconvenience of such a system.  The evidence of that is virtually no one uses cash anymore as it is too inconvenient compared to credit cards and other options. Fortunately credit cards and debit cards are not trackable in the same way as CBDCs. So the cage door wasn’t closed by using them. It was just given a front facing veneer of a theme park so everyone would enter voluntarily.

In Canada a system based on hand written or other personal ledgers is not likely to work. China has a homogenous population and operating on a trust basis is possible. Canada has been so fractured by deliberate and deracinating immigration that there is simply no way one person could trust another from an outside group to honour the issued credit note or ledger, especially when the translation itself is illegal to one degree or another. There is no mechanism to enforce the credit other than an honour system.

Across the West but most publicly in the UK, Muslims have set up vast industrial family run child-sex slave gangs. The number of Muslims that object to this is so low it hasn’t actually made the radar at all. Or remember the old, lead in the turmeric trick?  Imagine them honouring your credit from an Oz of silver a month ago for an additional X number of quarts of milk or whatever else your credit is worth. You are an unbeliever. You don’t have any rights. And the state agrees with them.

Good luck to the people of China on this one and  please leave comments with flaws in this line of thought or additional ways it could be wrong.

My intention here is not to pronounce or prognosticate, but to try and figure a workaround for the coming panopticon and model it such that we can find ways to avoid the worst of it.

For those that don’t yet understand what a CBDC is or why this matters, please see the video below. Also note that Canadian Supreme Leader, Mark Carney was in fact the unprecedented head of both the Canadian and British central bank. He is also very pro-CBDC.

More on that.