Armstrong Economics Blog/Economics Re-Posted Dec 31, 2020 by Martin Armstrong
QUESTION: Are the central bankers really behind this digital currency? Will that end the dollar as the reserve currency?
Thank you for sharing your experience.
ANSWER: No the central bankers are NOT the instigators. It was Christine Lagarde who when at the IMF was threatening counties they would be blocked from Swift if they did not give up all those who had accounts in these tax havens. Germany went as far as to violate Swiss law and paid bribes to bankers to leak the records of the firms they worked for, which not even Hitler went that far. The entire digital currency idea was pushed by Christine Lagarde while at the IMF. But look closely, she is also a board of trustee member of Schwab’s World Economic Forum along with the new head of the IMF Kristalina Georgieva. It was Schwab who got Legarde put into the IMF and then he put her in the central bank. He then had Georgieva put into the IMF.
People who always point to the central bankers really do not know what is going on behind the curtain. Schwab is in league with Bill Gates and George Soros. Gates was pushing the digital currency at the United Nations. Melinda Gates was pushing the digital currency at the G20. It was Gates directing Modi to cancel the currency in India and he did so without ever telling the central bank in advance!
All this nonsense that we are moving to this digital currency system that will dethrone the dollar is just laughable. The three main elements that are the reason why the dollar is the reserve currency has been
- the US never canceled the currency,
- there are no capital-controls so anyone can issue bonds in dollars worldwide, and
- the US has the world’s largest consumer economy which has funded the rise of China, Russia, Japan, and Germany along with all of Europe.
A digital currency does not override any of that. China knows what is unfolding and they are doing two main strategies that will impact the dollar long-term – not short-term.
- They are building their own consumer economy to reduce reliance on the West
- They are developing their digital currency to REPLACE the Swift system
This conspiracy against the central banks has been going on a long-term and to me, it just seems to be a diversion to keep people looking in the wrong direction. I have worked with more central banks around the world than probably any independent analyst/adviser. I do not talk about theory – it comes from experience!