Cashless Society Coming Soon? The Fed Is Preparing To Deposit “Digital Dollars” Directly To “Each American”
The Globalists want a cashless society so that they can remove any shred of privacy people still have, and have complete control over the monetary system. COVID is being used to rush these plans into place. This week, Tyler Durden, writing for ZeroHedge, reported that there is proposed legislation now for "Central Bank Digital Currencies" where every person in America would have a digital account where these digital currencies would be deposited during pandemics. Cleveland Fed president Loretta Mester delivered a speech to the Chicago Payment Symposium titled "Payments and the Pandemic", in which after going through the big picture boilerplate, Mester goes straight to the matter at hand. In the section titled "Central Bank Digital Currencies", the Cleveland Fed president writes that "the experience with pandemic emergency payments has brought forward an idea that was already gaining increased attention at central banks around the world, that is, central bank digital currency (CBDC)." And in the shocking punchline, then goes on to reveal that "legislation has proposed that each American have an account at the Fed in which digital dollars could be deposited, as liabilities of the Federal Reserve Banks, which could be used for emergency payments." But wait it gets better, because in launching digital cash, the Fed would then be able to scrap "anonymous" physical currency entirely, and track every single banknote from its "creation" all though the various transactions that take place during its lifetime. And, eventually, the Fed could remotely "destroy" said digital currency when it so decides. Oh, and in the process the Fed would effectively disintermediate commercial banks, as it would both provide loans to US consumers and directly deposit funds into their accounts, effectively making the entire traditional banking system obsolete.
