By Eden Kironde
Africa-Press – Uganda. Generally, Central Bank Digital Currencies (CBDCs) are defined as digital forms of the banknotes and coins used across the world. To paint a clearer picture, we are often referred to online banking, mobile money wallets or other FinTech payment systems that allow for your account to be credited or debited without you touching any note or coin.
The only and major difference often drawn is that CBDCs will be backed by central banks such as the Bank of Uganda, guaranteeing several benefits—the foremost being security. While other entities operating in the digital space, including cryptocurrencies, are usually privately owned and can fold anytime, causing you to lose your money, CBDCs guard against such uncertainties because they are state-backed.
That’s all true, but it’s not even a tiny fraction of the truth about CBDCs. This could indeed be correct in the initial phases, but ultimately, CBDCs will morph into a control system. This is the sinister intention of the architects of this global agenda, which—by May 2024—at least 138 countries, including all the G20 and BRICS nations, had embarked on developing.
Firstly, with the ability to track every person’s transactions—both earnings and expenditures—CBDCs concentrate unprecedented power in the hands of a minute few, who will have the ability to lock you out of your account whenever they deem it fit for the realization of a “common good.”
In case you think you will have cash as a backup, that will not be possible because the ultimate goal is to get rid of cash completely. This has been echoed even by our own Deputy Governor of the Bank of Uganda, Augustus Nuwagaba. In his remarks during the 3rd Annual Public Finance Management Conference in April this year, he alluded to a shift from physical currency to digital money to reduce the costs associated with printing.
Without cash, we shall be left vulnerable to the global control freaks who have made it no secret that they seek to centralize the operation of all national CBDCs. They reason that to foster all-round efficient transactions, CBDCs should not be fragmented national propositions—hence advocating for interoperability.
To this end, the International Monetary Fund is working on a global CBDC platform, according to its Managing Director, Kristalina Georgieva.
With all your transactions monitored by powerful unelected entities seated far outside your country—and with the ability to open and close your account—how much freedom do you think you will have to use your money any way you want?
Given that all renowned international organisations such as the United Nations, European Union, IMF, World Economic Forum, World Food Programme, among others—plus most international corporations—all back this agenda, what do you think will happen if they make a global decree and you don’t adhere to it?
For example, if they mandate vaccines for everyone in the event of another “pandemic,” how do you think they will deal with publicly dissenting voices? Especially knowing that in the past, such voices have been summarily de-platformed from social media without any due process, under the guise of fighting disinformation.
How do you think these entities will react if you publicly disagree with the cultural currents of the day, such as the transgender movement and its advocacy for transitioned men taking up women’s spots in any field of endeavor such as sports, politics (like Woman Member of Parliament), beauty pageants, among others?
The obvious way to punish you will be to deny you access to your account, chop off your money, or program your money not to be able to pay for some essential goods and services. For your bad behavior, your account could be disabled from paying for electricity, water, internet, or public transport—leaving you to walk to work for a week. This is how they plan to enforce global compliance to all global agendas.
In essence, your money will cease being your money. Your access to your money will depend on your “good behavior,” not whether your account is credited or not.
This ultimate operation of CBDCs essentially means that the perpetrators of this move will not merely be replacing banknotes and coins with digital money. They are trying to replace currency with a control system on a global scale.
There have been snippets of this kind of control even before CBDCs fully take root—especially in economies that have almost fully digitized their financial systems.
The prime example is of a Canadian gentleman called Edward Cornell who joined the truckers’ convoy protesting the COVID lockdowns and vaccine mandates. His bank account was frozen by the government. He was left stranded, unable to pay for anything from food to fuel and accommodation.
This is the future they envisage for all of us when CBDCs are fully operational. A future where your every transaction is monitored, where your access to your account depends on your “good behavior.” That’s the control system they want to introduce. CBDCs are only the packaging. This is why we must wake up and resist this new financial order.
The writer is host of the Weapons of War Podcast
Source: Nilepost News
For More News And Analysis About Uganda Follow Africa-Press
