Tag Archives: digital currency

One hundred Nations push for Digital Currencies and twelve Central Banks already have pilot programs

Federal-Reserve-statue

Important Takeaways:

  • Trending Toward A Cashless Society: One Hundred Nations Now Exploring Central Bank Digital Currencies
  • The Bible tells us that when the antichrist comes on the scene, he’s going to gain a foothold of global power. The beginning strategy of his power grab will be to first gain control over the world economy. It’s a lot faster and easier to gain economic control with all the means that are available today than it is to achieve military and political power. Once you have that economic control, you control people’s lives, and you can then take them over politically and militarily as well.
  • Recently, a new entity was created called the FedNow Service. The FedNow Service is a portal created by the Federal Reserve, which permits financial institutions to exchange funds digitally in real-time.
  • CoinDesk published an article recently that reads, “Federal Reserve’s ‘FedNow’ Launch Triggers Fresh Speculation Over Digital Dollar,” subheading, “While FedNow is currently not tied to any initiative for a digital U.S. dollar or the crypto space in general, experts warn that the system might end up as a precursor to the infrastructure for a central bank digital currency.”
  • Dave Weisberger, CEO and co-founder of CoinRoutes, said this: “If FedNow does indeed become a programmable CBDC, then it could theoretically be used to block payments for items the government doesn’t favor or to cut out people from the financial system who are seen as threatening in some way to governing authorities, aka, political opponents.”
  • On March 9th, 2022, President Biden signed an executive order that put into motion the machinery and the mechanism to develop a CBDC. In preparation for the G20 Summit, the Bank of International Settlements published a report laying out the Central Bank’s efforts to prepare for a CBDC and all its benefits.
  • At the same time that FedNow was emerging, the World Economic Forum (WEF) published principles of central bank digital currency interoperability.
  • One hundred nations are now exploring CBDC. Twelve central banks have pilot programs for digital currencies, and the EU already has a “digital euro.”
  • The problem with CBDCs is that they are programmable, traceable, expirable, and controllable by the government. For example, if a person goes to a gas station and they have a central bank digital currency, it can be determined how much money they are allowed to spend on gasoline. That’s how they will control the environmental agenda that we see taking place.
  • The trend toward a cashless society, they say, is inexorable. All of this is a striking foreshadowing of what we read in Revelation 13. It’s just another flashing light that the coming of Christ is near.

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Why aren’t more pulpits acknowledging the obvious? Purposeful ignorance doesn’t sit well with God

Small Church in Fog

2 Peter 3:3-4 “Knowing this first of all, that scoffers will come in the last days with scoffing, following their own sinful desires. They will say, “Where is the promise of his coming? For ever since the fathers fell asleep, all things are continuing as they were from the beginning of creation.”

Important Takeaways:

  • What Keeps The Majority Christians From Acknowledging The Obvious? Time Is Running Out
  • Author and commentator Jonathan Brentner asks the question “how can you not see the fulfilling of Bible prophecy wherever you look?”
  • The re-birth and prospering of the nation of Israel
  • The rise of artificial intelligence
  • The preparation of the coming digital currency
  • The use of a pandemic to hasten global government
  • The rise of Mark of the Beast technology
  • The rise of apostasy in the church the last 60 years
  • The death of discernment
  • Talk of a third temple in Israel
  • The scoffing of Bible prophecy
  • A cancel culture that cancels Christians
  • The exponential rise of evil
  • The rise of anti-Semitism
  • The Silence of the Shepherds
    • I personally believe that the root of today’s blindness to these facts is the silence of the church. Some 30 years ago, our seminaries dropped eschatology from their class line-up and pastors have not been trained in things to come. What a tragedy! At such a time as this, the shepherds are not equipped.
    • Many pastors state they don’t wish to take a “controversial” stand when it comes to last days’ eschatology.

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Central bank getting closer to a global Digital Currency

Daniel 7:23 “Thus he said: ‘As for the fourth beast, there shall be a fourth kingdom on earth, which shall be different from all the kingdoms, and it shall devour the whole earth, and trample it down, and break it to pieces.

Important Takeaways:

  • IMF Pushes Global Central Bank Digital Currency Platform as Cashless Trend Builds Steam
  • The International Monetary Fund (IMF) is working on a platform that would allow various central bank digital currencies (CDBCs) to interoperate on a global scale, which comes amid a broader push toward cashless societies and concerns about risks to freedoms.
  • IMF managing director Kristalina Georgieva told conference participants on Monday in Rabat, Morocco, that the transnational agency is developing a global platform for central bank controlled digital currencies.
  • “CBDCs should not be fragmented national propositions … To have more efficient and fairer transactions, we need systems that connect countries—we need interoperability,” Georgieva said. “For this reason at the IMF, we are working on the concept of a global CBDC platform.”
  • adding that “the last thing we want” is the emergence of “settlement blocks” where CBDC transactions are settled within separate ring-fenced regional frameworks.
  • She said that out of 114 central banks around the world that are exploring issuing national CBDCs, around 10 have already crossed the finish line and that “we will pursue relentlessly together” the development of central bank digital currencies.

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Digital Dollar is coming along with more government control

Ecclesiastes 5:8 If you see the extortion[a] of the poor, or the perversion[b] of justice and fairness in the government,[c] do not be astonished by the matter. For the high official is watched by a higher official,[d] and there are higher ones over them![e]

Important Takeaways:

  • Get Ready: The Digital Dollar Is a Tool for Government Surveillance and Control
  • Most of the world’s economies, including the United States, are rapidly ramping up to digitize their currency and ultimately end “paper cash” by creating a Central Bank Digital Currency (or CBDC for short).
  • Part of the “Great Reset” agenda is to eliminate or reduce untraceable and untaxable cash and crypto transactions and clear the way to establish national government-controlled digital currency.
  • The agenda is to get a CBDC in every country, get people used to it, and then connect those digital systems into a one-world digitized payment system.
  • Does this sound too far-fetched? Consider that the U.S. Federal Reserve’s Board of Governors have already issued a white paper titled: “Money and Payments: The U.S. Dollar in the Age of Digital Transformation” as a “first step” in exploring the creation of a CBDC.
  • Make no mistake, a centralized digital currency is coming.

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China’s pushing its digital currency to devalue the dollar

Revelations 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”

Important Takeaways:

  • China’s digital currency could threaten the U.S. dollar. Should the Fed build its own?
  • “China has a digital yuan,” and it’s using it to bully its many trading partners into abandoning the dollar, which threatens to weaken American financial power and drive up the cost of imports.
  • This “e-CNY” (CNY is the trading symbol for China’s currency, the yuan), was presented to the world at last year’s Beijing Olympics and has quickly rung up billions in online payments, despite concern the government uses the system to track and bully its own citizens and businesses.
  • Without more efficient rival systems from the U.S. or other developed countries, Melchiorre said, China may “force their trading partners into their digital payments system,” replacing the U.S. dollar and threatening the benefits Americans enjoy from the dollar’s popularity.
  • “Digital currency is coming,” worldwide, Melchiorre concluded. “I hope we can get our [act] together for the dollar, before it’s too late.”

Read the original article by clicking here.

Moving toward cashless and digital currency; FedNow experts say it’s the next step

Revelations 18:9-11 “The kings of the earth who committed fornication and lived luxuriously with her will weep and lament for her, when they see the smoke of her burning, 10 standing at a distance for fear of her torment, saying, ‘Alas, alas, that great city Babylon, that mighty city! For in one hour your judgment has come.’ 11 “And the merchants of the earth will weep and mourn over her, for no one buys their merchandise anymore

Important Takeaways:

  • The Dollar’s Demise — It’s an Inside Job!
  • You’ve heard about FedNow, right? Scheduled for a nationwide launch in July, FedNow is the government’s first new banking platform in over 40 years.
  • Andrew Zatlin — a world-renowned economic forecaster — believes…“FedNow’s highest purpose is to kill the U.S. dollar as a fiat (paper) currency,”
  • The Federal Reserve’s own description of its era-defining banking platform:
    • FedNow is an instant payment service that will operate around the clock…allowing business and individuals to send and receive instant payments.”
  • The chatter among insiders is both loud and alarming.
  • FedNow is the precursor to a U.S.-backed central bank digital currency (CBDC) — a.k.a. FedCoin.
  • See, in order for a (future) FedCoin to function properly, it must run on a real-time network — one that can process upwards of 1.7 million transactions per second, with 99 percent of all transactions settling in under a second.
  • That means FedNow must precede FedCoin.
  • The Fed’s digital-only dollar comes equipped with an on/off switch, thus giving the government virtually unlimited control over our lives.

Read the original article by clicking here.

Never let a good crisis go to waste: How the Feds could use the collapse of FTX to push a digital currency

FILE PHOTO: Samsung's new Samsung Pay mobile wallet system is demonstrated at its Australian launch in Sydney, June 15, 2016. REUTERS/Matt Siegel/File Photo

Revelations 13:16-17 Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name.

Important Takeaways:

  • The digital dollar is coming on the back of the FTX collapse
  • The arrest of CEO Sam Bankman-Fried may be the smaller news story coming out of the collapse of FTX…it is clear that those at the Federal Reserve and many in Congress have been salivating for such changes for years. This could be a fig leaf to justify it.
  • The purported remedy instead may be the largest fiscal overhaul since the creation of the Fed.
  • [They will sell you the positive side] an effective end to traditional money laundering, and difficulty for criminals to pay for drugs … an end to counterfeiting
  • Your Social Security, welfare or paycheck would be deposited instantly. Your bank accounts would be synced with the Federal Reserve databases, your movements tracked through transactions, and you would become an asset to the Fed just as much as digitally “printed” dollars.
  • [Negative side] It also can be used to track questionable purchases and donations… Considering the relative efficiency of the IRS, it is entirely probable that the agency could send out audit letters to people for Venmo-ing their friends back for their share of a restaurant bill or taxi ride.
  • Furthermore, the digital dollar likely will coincide with a gradual abolishment of physical cash. [Like] Franklin Roosevelt’s Executive Order 6102 banning most private ownership of gold, your financial autonomy would be at risk.
  • The vulture-like actions by those in power to take advantage of the disaster are both predictable and intentional. After all, to paraphrase Rahm Emanuel: Never let a crisis go to waste.

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The Race for who controls digital currency could set the stage for the Mark of the Beast

Revelation 13:2-4 “2 And the beast that I saw was like a leopard; its feet were like a bear’s, and its mouth was like a lion’s mouth. And to it the dragon gave his power and his throne and great authority. 3 One of its heads seemed to have a mortal wound, but its mortal wound was healed, and the whole earth marveled as they followed the beast. 4 And they worshiped the dragon, for he had given his authority to the beast, and they worshiped the beast, saying, “Who is like the beast, and who can fight against it?”

Important Takeaways:

  • This Big Development in China Is Setting Up the World for the Mark of the Beast
  • China is on the cusp of launching a digital currency that will give the communist regime total control over the Chinese people.
  • The move has huge implications for the rest of the world too, and CBN’s CEO Gordon Robertson says it’s setting us up for the fulfillment of End Times prophecy.
  • The Chinese government is pushing ahead on many fronts to restrict what its population can and cannot do. They already restrict the right of assembly. They already restrict religious freedom. They certainly restrict political speech. And any speech that is critical of their government (and the way they run things) is definitely cracked down on.
  • But just imagine a government that if you step out of line they can now turn off all your money and do it instantly so you cannot buy or sell, you don’t have the right in the marketplace to participate anymore.
  • That’s what digital currency allows a government to do. And if you think it’s just going to happen in China think again. The Federal Reserve already has a study group looking at a digital currency for the United States. Why are they doing that? Because they’re afraid China will usurp the U.S. and become the world currency, that digital currency is taking over.
  • We’re spending ourselves into oblivion and what allows us to do that is that we have the world’s (reserve) currency. So we are essentially borrowing against the value of our currency in order to have a two trillion dollar deficit.
  • Well, that party has to come to an end at some point in time. China’s waiting for that party to end, and they want to step on the world stage with digital currency.
  • That’s how you get the fulfillment of a Bible verse that says you can’t buy or sell without a mark.

Read the original article by clicking here.

U.S. lawmakers challenge Facebook over Libra cryptocurrency plan

FILE PHOTO: Representations of virtual currency are displayed in front of the Libra logo in this illustration picture, June 21, 2019. REUTERS/Dado Ruvic/Illustration/File Photo

By Pete Schroeder and Anna Irrera

WASHINGTON (Reuters) – U.S. lawmakers quizzed Facebook on Wednesday over its planned cryptocurrency, after a bruising first bout a day earlier when senators from both parties condemned the project, saying the company had not shown it could be trusted.

The social media company is fighting to get Washington on its side after it shocked regulators and lawmakers with its announcement on June 18 that it was hoping to launch a new digital coin called Libra in 2020.

It has faced criticism from policymakers and financial watchdogs at home and abroad who fear widespread adoption of the digital currency by Facebook’s 2.38 billion users could upend the financial system.

“I have serious concerns with Facebook’s plans to create a digital currency and digital wallet,” Maxine Waters, chairwoman of the Democrat-controlled House Financial Services Committee, said in her opening remarks.

“If Facebook’s plan comes into fruition, the company and its partners will yield immense economic power that could destabilize currencies.”

Lawmakers are questioning David Marcus, the Facebook executive overseeing the project, who was grilled by the Senate Banking Committee on Tuesday over the possible risks posed by Libra to data privacy, consumer protection and money laundering controls.

The hearing in Congress was proving to be even more tense on Wednesday.

The panel has already circulated draft legislation that could kill the project by banning Facebook and other tech firms from entering the financial services space.

Democratic Representative Carolyn Maloney pushed Marcus to commit to a Libra pilot program with one million users overseen by U.S. financial regulators, including the Federal Reserve.

“I don’t think you should launch Libra at all,” Maloney said. “At the very least you should agree to do this small pilot program.”

Marcus, who was president of PayPal from 2012 to 2014, did not commit to a pilot but tried to assuage lawmakers by pledging not to begin issuing Libra until regulatory concerns had been addressed.

“We will take the time to get this right,” Marcus said.

He said the company had unveiled the project at an early stage in order to get feedback from all stakeholders.

Representatives on both sides of the aisle asked how the company will ensure sufficient consumer protection and prevent the cryptocurrency from being used for illegal activities such as money laundering or terrorist financing.

“I’m concerned a 2020 launch date represents deep insensitivities about how Libra could impact U.S. financial security, the global financial system, the privacy of people across the globe, criminal activity and international human rights,” said Republican Representative Ann Wagner.

Facebook has been on the defense amid a backlash over mishandling user data and not doing enough to prevent Russian interference in the 2016 U.S. presidential election.

(Reporting by Pete Schroeder and Anna Irrera; editing by Cynthia Osterman, Bernadette Baum and Susan Thomas)