CBDCs are a solution for a problem we don’t have, and they want to implant it under our skin
Professor Richard A. Werner is an economist and professor of banking and finance. He is known as the proponent of a new post-crisis monetary policy he called Quantitative Easing (“QE”) when he proposed it in Japan in 1995 as chief economist of a British investment bank. Besides experience as senior managing director and senior portfolio manager at Bear Stearns Asset Management, he has worked as a researcher or consultant at the University of Oxford, the Bank of Japan, the Development Bank of Japan, and the Asian Development Bank, among others. He is involved in supporting the establishment of not-for-profit community banks through an initiative called Local First CIC.
At the Amsterdam Science Summit 2022, Prof Werner gave a lecture on central bank digital currencies (“CBDCs”) and the 2030 Agenda. At the sidelines of this year’s Amsterdam Science Summit, he spoke to Ivor Cummins about CBDCs and how high inflation has been orchestrated by central banks to further their agenda.
There are two aspects to QE monetary policies that Prof. Werner proposed: QE1 and QE2. QE1 is for the central bank to step in and purchase the non-performing assets in the banking system. The central bank buys up non-performing assets at face value and the problem is solved, banks have a strong balance sheet. But that won’t be enough to get banks to increase credit.
So, Prof. Werner proposed QE2 which allows the central bank to force the banks to create more money and push it into the economy. This would be accomplished with central banks buying assets, e.g., property, from the non-bank sectors. The money the non-bank sectors receive from the sale of the property would then be deposited into the seller’s bank account. When an economy is experiencing deflation, “that’s how central banks can push money into the economy directly,” Prof Werner explained.
QE1 was followed by Japan in the 1980s but the USA disallowed Japan subsequently using QE2. And then out of the blue and at the wrong time, QE2 was adopted by the US Federal Reserve and other central banks in March 2020. The intention of adopting QE2 at that time was to cause high inflation. Why? To move economies onto a CBDC system.
“You have to think of CDBCs as a control system [or a permit system], not a currency,” Prof. Werner explained.
“It’s a conditional currency based on you actually getting that permit. Now, if you happen to be some kind of critic of government policy or a critic of central banks this could be difficult. Or if you dare to step out of the 15-minute city zone, you know, maybe you’ll find that: ‘Oh [my CBDC is] not working’. Of course, these are things we’ve seen already in China. There’s plenty of videos where somebody tries to use it to buy a ticket and it doesn’t work because his social credit scores are low.”
And, effectively, there’s no real right to appeal. With very few people controlling the very many, the controllers will use computers and algorithms to run the system. If you appeal the blocking of CDBCs you’ll be dealing with automated responses.
More at: https://expose-news.com/2023/07/09/cbdcs-are-a-solution-for-a-problem-we-dont-have/