White House Introduces the Joe Biden “U.S. Central Bank Digital Currency”


Posted originally on the conservative tree house on September 18, 2022 | Sundance

If you combine government use of energy policy, government regulation on individuals around that energy policy, and the self-interested need to control political opposition, you discover one of the most effective ways to control human activity is to control their finance.

Canadian Prime Minister Justin Trudeau gave us a great example of that when he weaponized the power of the Canadian government to target the protesting truckers and those who support them.  You might remember Trudeau’s government locked down bank accounts, froze assets, denied loans, blocked mortgages and generally confiscated the wealth and incomes of his political opposition without any due process; all because the people were challenging his totalitarian COVID dictates. {Go Deep}

Take those reference points as an overlay and now consider this undiscussed recent announcement from the Biden administration:

[White House] – President Biden often summarizes his vision for America in one word: Possibilities. A “digital dollar” may seem far-fetched, but modern technology could make it a real possibility.

A United States central bank digital currency (CBDC) would be a digital form of the U.S. dollar. While the U.S. has not yet decided whether it will pursue a CBDC, the U.S. has been closely examining the implications of, and options for, issuing a CBDC. If the U.S. pursued a CBDC, there could be many possible benefits, such as facilitating efficient and low-cost transactions, fostering greater access to the financial system, boosting economic growth, and supporting the continued centrality of the U.S. within the international financial system. However, a U.S. CBDC could also introduce a variety of risks, as it might affect everything ranging from the stability of the financial system to the protection of sensitive data.

Notably, these benefits and risks might vary significantly based on how the CBDC system is designed and deployed. That is why Executive Order 14067, Ensuring Responsible Development of Digital Assets, placed the highest urgency on research and development efforts into the potential design and deployment options of a U.S. CBDC. The Executive Order directed the Office of Science and Technology Policy (OSTP), in consultation with other Federal departments and agencies, to submit to the President a technical evaluation for a potential U.S. CBDC system.

Today, OSTP is publishing its report, Technical Evaluation for a U.S. Central Bank Digital Currency System, which lays out policy objectives for a potential U.S. CBDC system and analyzes key technical design choices for a U.S. CBDC system. The report also estimates the technical feasibility of building a CBDC minimum viable product and describes how a U.S. CBDC system might affect Federal operations. The report makes recommendations on how to prepare the Federal Government for a U.S. CBDC system. Importantly, the report does not make any assessments or recommendations about whether the U.S. should pursue a CBDC, nor does it make any decisions regarding particular design choices for a potential U.S. CBDC system.  (read more)

When you read that full announcement, you realize they have already built the system.

If the system is built and they are now making policy recommendations for implementation, the question becomes ‘what’s the goal’?

We do not have to look far for the explanation.

the World Government Summit 2022 took place on March 29 and 30 in Dubai, hosting more than 4,000 individuals from 190 countries including senior government officials, heads of international organizations, and global “experts.”   The invited participants presented ideas and worldviews from within their various fields of specialty.

One presentation was from Dr. Pippa Malmgren, an American economist who served as special advisor on Economic Policy to President George W. Bush.

Her father, Harald Malmgren, served as a senior aide to US Presidents John F. Kennedy, Lyndon B. Johnson, Richard Nixon, and Gerald Ford.   In this segment, Mrs. Malmgren says the quiet part out loud.  Yes, they are no longer hiding the construct; indeed, as you will hear they are saying quite openly what the future will look like.  WATCH (2 minutes):

[Full Source – 6 hours (internal segment at 18:30)]

Transcript – Dr. Malmgren: “What underpins a world order is always the financial system. I was very privileged. My father was an adviser to Nixon when they came off the gold standard in 71. And so, I was brought up with a kind of inside view of how very important the financial structure is to absolutely everything else.

And what we’re seeing in the world today, I think, is we are on the brink of a dramatic change where we are about to, and I’ll say this boldly, we’re about to abandon the traditional system of money and accounting and introduce a new one. And the new one. The new accounting is what we call blockchain.

It means digital, it means having a almost perfect record of every single transaction that happens in the economy, which will give us far greater clarity over what’s going on. It also raises huge dangers in terms of the balance of power between states and citizens.

In my opinion, we’re going to need a digital constitution of human rights if we’re going to have digital money. But also this new money will be sovereign in nature. Most people think that digital money is crypto, and private. But what I see our superpowers introducing digital currency, the Chinese were the first the US is on the brink, I think of moving in the same direction the Europeans have committed to that as well.

And the question is, will that new system of digital money and digital accounting accommodate the competing needs of the citizens of all these locations, so that every human being has a chance to have a better life? Because that’s the only measure of whether a world order really serves!”

The entry into a digital currency, needs a digital identity.

The end goal of a digital currency is why western political leaders have not been worried about following the COVID-19 spending demands from the World Economic Forum. {Go Deep}

When the global trade currency does not need to be pegged to anything to determine value, it is completely fiat.  This is the current problem with global trade and transactions taking place in U.S. dollars, which arbitrarily lifts the standard of life for Americans while providing no similar benefit to other nations. That view became the underlying motive for Osama Bin Laden to target the World Trade Center, twin towers.  That view was/is also the perspective carried by Barack Obama, that lay behind his “fundamental change” statement.

A digital currency allows ultimate control on a global basis by a one world government, or western system of collective governments, that can assign value.  No other mechanism will have as much control over the life of a person than a digital currency that will create a system of transactional credits and debits, perhaps also influenced by your social credit score.

The digital currency requires a digital identity in order for apportionment based on your value to society.  This is essentially an extension of the Fabian mindset into the world of financial transactions and monetary evaluations.  Fabians believed that some form of socioeconomic tribunal would be needed in order for each citizen to be quantified according to their “worth” to society.  The Chinese social credit score is a variant of that same concept.

The phrase “you didn’t build that,” when espoused by former President Obama and current Senator Elizabeth Warren is also based on this collective worldview. Both believe that individuals do not succeed independently, but rather gain their ability to grow wealth by using the resources of the larger society, infrastructure, labor and education.  The phrase “it takes a village” to raise a child, as espoused by Hillary Clinton is another variant of the same collective advocacy.

A digital currency and digital identity is not a conspiracy theory, these “global leaders” are explaining it to us out loud.  However, I am concerned that most will not hear it, or understand it, until it is too late.

Remold it nearer to the hearts desire”

Or

Build Back Better

Same/Same

Inflation Debate


Armstrong Economics Blog/Inflation Re-Posted Sep 17, 2022 by Martin Armstrong

Bidenomics, August 2022 Inflation Data Infographic


Posted originally on the conservative tree house on September 14, 2022 | Sundance 

Someone had requested a simple to see infographic of the Bureau of Labor and Statistics August inflation data with monthly and yearly outcomes.  I thought everyone might find this graphic as a good tool for sharing with your network.  [Data Source Link]

Additionally, the BLS also released the producer price index today [DATA HERE].  The PPI for goods dropped slightly, as we expected, due to the August temporary decline in gasoline and diesel.   However, the PPI for final demand services moved up 0.4 percent in August, the fourth consecutive rise.

We are now seeing service providers having to raise their prices to cover their increased costs.   This could be trouble for employment in the long-term.

Despite Temporarily Lower Gasoline Prices, August Inflation Skyrockets with Biggest Jump in Food Prices Since 1979


Posted Originally on the conservative tree house on September 13, 2022 | Sundance

We are in an abusive relationship with our own government. If you want a real-time example of how governmental bureaucracy fits into this statement, look no further than the footnote at the bottom of this article ¹cited from the BLS report today.

The Bureau of Labor and Statistics (BLS) has released the August inflation data today [DATA HERE] with a top line at 8.3 percent year over year.  Unfortunately, things are unfolding exactly as we previously shared.  [Modified Table 1 at left]

Despite the temporary drop in gasoline prices (-12%), the costs of food (+13.5%), electricity (+15.8%) and housing (+6.7%) are crushing U.S. consumers.  The stock market is responding accordingly.  We can only imagine the inflation data if the heavily weighted gasoline factor was not pushing overall toplines down.  Estimation of inflation would be well over double digits.

Keep in mind, as you read this review the price of the current harvest (prior field costs) is only right now coming into the food supply chain.

Food inflation is running at its highest rate since 1979 (+11.4%) and it will go higher as the third wave in this sector hits.

To give you an example, margarine increased in price 7% in August alone, that’s an annualized rate of 94% [Table 2 details].  Flour is also on pace for another 22.8% increase right as the holiday baking season begins.

We cannot eat gold, silver or durable goods.  Electricity, home heating (natural gas), food and housing costs are priorities right now.  Main Street USA is being crushed by Joe Biden overall economic and energy policies.  It’s bad now, and going to get worse – much worse, as the third wave of food inflation has only just begun.

¹Before sharing a MSM perspective I want to draw your attention to the BLS notation for 2023.  This innocuous footnote tells us just how manipulative the governmental bureaucracies are:

In order to give the statistical appearance of things being better than they are, the BLS is going to reset their weighting for the CPI to only compare against 2021.  This is being done with purpose to give the illusion next year that things are not as bad.  2021 was when Joe Biden’s inflation policies first surfaced. By comparing consumer prices to the timing when those prices first increased, the scale of future price increases will be statistically diminished.  We are in an abusive relationship with our government.

.

(CNBC) – Inflation rose more than expected in August as rising shelter and food costs offset a drop in gas prices, the Bureau of Labor Statistics reported Tuesday.

The consumer price index, which tracks a broad swath of goods and services, increased 0.1% for the month and 8.3% over the past year. Excluding volatile food and energy costs, CPI rose 0.6% from July and 6.3% from the same month in 2021.

Economists had been expecting headline inflation to fall 0.1% and core to increase 0.3%, according to Dow Jones estimates. The respective year-over-year forecasts were for 8% and 6% gains.

Energy prices fell 5% for the month, led by a 10.6% slide in the gasoline index. However, those declines were offset by increases elsewhere.

The food index increased 0.8% in August and shelter costs, which make up about one-third of the weighting in the CPI, jumped 0.7% and are up 6.2% from a year ago. (read more)

For readers who do advanced preparation to offset prices.  THINK BEEF right now, you will thank me four months from now.  If you see a deal now, buy it and freeze it now. Anticipate retail ground beef costs be somewhere around $10 to $15/lb by spring to mid 2023 perhaps even higher.  Also remember, processed foods will increase in price at twice the rate of the fresh food sector.  Both fresh and processed food prices will rise, but the increased costs associated with the food processing will double the price.