The World Economic Forum (WEF) has boasted that 98 percent of all central banks have now agreed to advance the unelected globalist organization’s “cashless society” agenda.
The WEF has revealed that most of the world’s central banks have been preparing to eliminate physical money and are now ready to make the switch to “digital cash.”
The revelation was made in a new white paper from the WEF which declares that nations around the world will soon be forced to adopt a Central Bank Digital Currency (CBDC) in place of traditional money.
In the report, titled “Modernizing Financial Markets With Wholesale Central Bank Digital Currency,” the WEF asserts that a CBCD will replace all other forms of money to serve as a global single digital currency system.
“CeBM is ideal for systemically important transactions despite the emergence of alternative payment instruments,” the WEF report states.
“Wholesale central bank digital currency (wCBDC) is a form of CeBM that could unlock new economic models and integration points that are not possible today.”
The report mainly focuses on the claimed goal of streamlining cross-border transactions.
The Bank for International Settlements (BIS) has been deeply involved in the streamlining effort for the past few years.
It also highlights an odd concept of differentiated CBDC mechanisms.
According to the WEF, central banks are preparing to deploy different forms of CBDCs specifically designed to be used by different institutions for different reasons.
“Wholesale CBDCs” would be used only by banking institutions, governments, and some global corporations.
“Retail CBDCs,” meanwhile, would be reserved for the general public.
How the value and buying power of Wholesale CBDCs would differ is not clear.
However, it’s easy to assume that these devices would give banking institutions a greater ability to homogenize international currencies and transactions.
In other words, it’s the path to an eventual global currency model.
By extension, the adoption of CBDCs by governments and global banks will ultimately lead to what the WEF calls “dematerialization” – The removal of physical securities and money.
For some time now, as Slay News has reported, the WEF has been pushing this agenda which it dubs “cashless society.”
The WEF states:
“As with the Bank of England’s (BOE) RTGS modernization program, the intention is to introduce a fully digitized securities system that is future-proofed for incremental adoption of DLT (Distributed Ledger Technology).
“The tokenization of assets involves creating digital tokens representing underlying assets like real estate, equities, digital art, intellectual property, and even cash.
“Tokenization is a key use case for blockchain, with some estimates pointing towards $4-5 trillion in tokenized securities on DLTa by 2030.”
Finally, they let the cat out of the bag:
“The BIS proposed two models for bringing tokenization into the monetary system:
“1) Bring CBDCs, DTs, and tokenized assets onto a common unified ledger, and
“2) pursue incremental progress by creating interlinking systems.
“They determined the latter option was more feasible given that the former requires a reimagination of financial systems.
“Experimentation with the unified ledger concept is ongoing.”
To interpret this into decoded language – The unified ledger is essentially another term for a global single digital currency system completely centralized and under the control of global banks like the BIS and the International Monetary Fund (IMF).
The WEF and BIS are acknowledging the difficulty of introducing such a system without opposition.
In response to the anticipated opposition, they are recommending incremental introduction using “interlinking systems.”
This method links CBDCs to paper currencies and physical contracts and then gradually dematerializes those assets until the completely digital version becomes the new norm.
The WEF is planning for a distant future, however.
The banks are preparing to deploy global CBDCs in the near future and predict trillions of dollars in assets to be flowing by 2030.
The BIS predicts there will be at least 9 major central banks with CBDCs in circulation by the year 2030.
This is likely an understatement of the intended plan, however.
Globalists have hinted in the past that they prefer total global digitization by 2030.
A cashless society would be the end game for economic anonymity and freedom in trade.
Unless alternative physical currencies are widely adopted in protest, CBDCs would make all transactions traceable and easily interrupted by governments and banks.
Under the WEF-control “cashless society” agenda, all trade is monitored, all revenues are monitored, and transactions can be blocked if they are found to offend the mandates of the system.
And while these things do happen today, they can at least be circumvented with physical cash.
Imagine a world where your ability to spend money can be limited to certain retailers, certain services, certain products, and chosen regions based on your politics, your social credit score, and your background.
Someone with a high “carbon footprint” could be blocked from buying groceries, or banned from the electric vehicle charging network for “misgendering” someone on social media.
The control that comes with CBDCs is immense and allows for complete micromanagement of the population.
Not only is the WEF aware of this control, but its members frequently gloat about it with excited anticipation.
The fact that 98% of central banks are already adopting this technology should be one of the biggest news stories of the decade.
Unsurprisingly, it goes almost completely ignored by the corporate media.
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https://slaynews.com/news/wef-98-central-banks-ready-usher-in-cashless-society/
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