In this video, we break down the intents, ramifications, and possible threats of CBDCs. Are Reserve Bank Digital Currencies leading the way for a cashless future or a monitoring headache? Stay ahead in this developing landscape of digital financing and protect your monetary self-reliance!
CHAPTERS:
0:00 Reserve Bank Digital Currencies
0:56 What are CBDCs?
2:00 Are CBDCs Changing Dollar?
3:32 Examples of Programs Cash
6:25 Managing Your Options
8:51 CBDC vs Crypto
9:25 Cons of Getting Rid Of Digital
10:31 Hackings
13:07 Protect Your Wealth
RECORDS FROM VIDEO:
Lynette Zang ( 00:00):
So today we’re gon na speak about CBDCs because that’s the intent of the reserve banks, we have an option at this moment in time. Yes, FedNow is entering into location to get us gotten ready for the next crisis so they can provide CBDCs within these accounts and get you to invest them and utilize them. However will you refill it? That’s the huge problem that a great deal of these reserve banks that have actually been running this experiment has actually discovered. So I believe it is necessary that you comprehend whatever that you perhaps can about CBDCs so that you can choose and enter into correct position so that it does not adversely affect you and take your flexibility away. So Ryan is gon na ask me a lot of concerns about CBDCs and we’re gon na simply dig right in.
Ryan ( 00:56):
What are CBDCs?
Lynette Zang ( 00:59):
CBDCs is the acronym for Reserve bank Digital Currencies. So this is, they’re calling it a development in cash since now it is totally intangible, however it’s likewise a hundred percent under the auspices of the reserve banks where they can, and the federal government where they can keep track of all of your earnings, all of your costs. They can manage what you invest your cash on, just how much you invest it on, for how long it’s even feasible in your account and whatever else. I imply this is how they get you complete control. If you have cash that is beyond the system, then you have a lot more flexibility and self-reliance, however that’s not what they desire. Keep In Mind World Economic Online forum stated you, you’ll own absolutely nothing and you’ll enjoy. I do not believe you’re gon na enjoy if you own absolutely nothing since that indicates someone else owns it and they determine to you.
Ryan ( 02:00):
Do they desire CBDCs to change the dollar or is it going to be the dollar in a digital kind?
Lynette Zang ( 02:07):
Well, it is gon na be the dollar in a digital kind since what they understand about transitioning us from one currency, one sort of currency into the next sort of currency is that they need to keep it as much at first anyhow, what we are utilized to. So that’s why although things have actually altered, I imply we had a gold backed dollar, we had a financial obligation backed dollar. Now we’ll have an air backed dollar or, or based upon purchases, things like that. However they’re all called the dollar so that you do not understand that anything has actually altered when it, when in truth whatever has actually altered. And they have actually likewise specified that they are not going to instantly take squander of the system. Rather there’ll be a chip in there that will follow their policy. Since although money usage has actually been decreasing and they began this procedure in the fifties, this is not something that occurs over night. This is something that takes an extended period of time. So the frog in the pot of water, right? So they have actually discussed leaving money in there and even letting the existing system run parallel with the digital dollar till they get enough involvement and compliance. ’cause That’s not an assurance.
Ryan ( 03:32):
What are some examples of how they can configure the cash and why would they wish to do that?
Lynette Zang ( 03:38):
Today, it takes 18 months when they develop a policy, takes approximately, you understand, 12 to 18 months prior to it drips through the economy. That’s why we’re beginning to see the decrease now, however it’s based upon the boost in rate of interest that took place a year or two back. Okay. So we’re simply beginning to feel that impact. So there’s that lead which lag time going to a CBDC removes that lag time. So the declaration for federal governments, ’cause there’s 2 entities that gain from, I didn’t state 3, I didn’t state the general public, however, for the federal governments, they can charge life time taxes. They can pull the taxes out whenever they wish to pull the taxes out. For reserve banks, what they have actually specified is, primary, they are gon na offer it to us or they have actually stated that they’re gon na offer it to us, is we will manage, there will disappear inflation. No, since they’re going to go unfavorable rates and there will be hyper-deflation. However what they have actually stated is as soon as we have CBDCs, there are then no limitations to how low we can press rate of interest, which consumes your concept and might motivate you to head out and invest it. So this is truly crucial since the other thing that they stated is, once again, that they might have their finger on the button of the economy 24/7. They might be tweaking policy and boom, immediately understand whether that’s gon na work. I imply, we’re a customer driven economy. If you try to conserve those CBDCs, you will enjoy your concept wear down so quickly that the most likely result is that you’re gon na head out and you’re gon na invest those CBDCs and attempt and, and put them in anything that will hold their acquiring power much better, which is what occurs in run-away inflation also. So as soon as we go to a CBDC and they totally wean us off of the dollar and the existing system, or they get it close enough that they feel they have actually got enough adoption, that’s when physical paper will likely disappear. However then the reserve banks, and especially the reserve banks, have complete control over your options. And if you choose that do not line up with what they desire, they can manage that unless you have genuine cash beyond the system.
Ryan ( 06:25):
What are some examples of those options they might wish to manage?
Lynette Zang ( 06:29):
Well they, they would certainly wish to manage where you’re investing that cash, for how long that cash really has any practicality of life. So, you understand, sort of takes you to a social scoring circumstance where if they do not like your politics, you disagree with them and your singing about it, they can simply press a button and cut you off. And we saw that occur in Canada prior to the CBDCs since the truckers didn’t like what the federal government was doing and what did they do? Boom, they cut them off. So the CBDCs would be that on steroids you do not like what they’re doing. They can state, all right, press a button now you have no access to any of your cash. However that likewise indicates that that any cash that you make would go straight into the CBDC account. So I can see a great deal of issues with that. You understand, you’re not getting an income any longer, it enters into the account and what occurs if they choose that they do not like what you’re stating or they do not like what you’re doing? And I imply that’s truly the greatest danger isn’t it? Is control by cutting you off and hello, didn’t we simply see the United States do that with Russia? So a great deal of these things, truthfully it does not matter whether you’re a federal government or a corporation or a person. You truly need to take notice of how cash and financial weapons are utilized versus whoever they consider their opponent. Since the reserve bank’s task is not to support you. It’s to support the banking system and make certain that they survive. That’s truly what they’re defending. And you provide manage over the CBDCs similar to we provided control over inflation in 1971 and we have actually lost like formally 97% of our acquiring power. How well has that worked for the general public? It’s worked truly well for the 1%. It made it possible for that earnings and wealth and equality that will grow significantly if they get adoption of the CBDC.
Ryan ( 08:51):
What’s the distinction in between CBDCs and cryptocurrencies?
Lynette Zang ( 08:55):
If you take a look at the bank for worldwide settlements, which is the reserve bank’s reserve bank and you take a look at their cash flower, there is an extremely little location that they have actually reserved for personal cryptocurrencies. There’s a much larger area that’s reserved for product currencies, silver and gold, the energy of the reserve bank’s currency. The CBDC would be control and monitoring.
Ryan ( 09:25):
What are the implications for eliminating money forever moving into this digital dollar?
Lynette Zang ( 09:33):
Well, you understand, today at the minute, money is a financial obligation instrument. You can take a look at the top of the expense and it states Federal reserve note and a note is a financial obligation instrument, however it does not have a discount coupon. So it pays 0% interest. So you can’t, you require gold truly to secure yourself from inflation since inflation is baked into the existing financial system with the money. They understand how to handle that. Which is just by putting a chip in there that follows whatever rate of interest the reserve bank is selecting. So it sort of removes that. However if you have money today, it’s still thought about money in the wild. Once they eliminate the money totally, then you understand truly as soon as they put the chip in the dollar, whether it’s money or not, they sort of have you purchase the cajones.
Ryan ( 10:31):
There’s been some significant hacks in cryptocurrency. Do you believe that hacking will prevail with CBDC also?
Lynette Zang ( 10:39):
A hundred percent. I imply we have actually even seen hacks into the SWIFT system, which is expected to be the most effective and strengthened cash transfer system on the planet. And it is. And we have actually even seen hacks there which’s certainly growing a growing number of. However yes, I certainly do see the likelihood of hacks. We do not understand just how much is getting hacked now since they do not desire us to understand. ’cause They desire us to feel comfy with intangible currencies and intangible cash. So there’s a lot that’s going on that we do not understand about. However yeah, I imply today you can’t secure your acquiring power from inflation, however you can secure your principal. They go to unfavorable rates. They do not desire you to secure. There’s no acquiring power left. I imply, truthfully, take a look at the FRED chart on acquiring power of the customer dollar and you understand darn well they’re fudging it so you feel much better about it. However there’s that huge fat absolutely no that is so simple to see since that’s what occurs to every currency. So just the currency prior to it has the chip in it can secure your concept, not your buying power, however your concept. They eliminate that by putting the chip in it. They do not need to take it far from us to eliminate it. There is no security. That’s why you got ta have this beyond the system. You put it in, you transform it into the currency that you require to trade with when you require it to trade.
Ryan ( 12:15):
You discussed prior to you think individuals have an option still in CBDCs. Can you discuss that more and discuss how the general public has an option?
Lynette Zang ( 12:24):
Yeah, since comprehend, we vote with our wallets. We vote with our handbags, right? That’s how we vote. So if you keep all of your cash in the fiat system, whether it’s stocks, bonds, ETFs, however it’s those things that can just be transformed into the fiat cash. Honestly, that’s your vote. And when this next crisis happens and they press all of that totally free cash similar to they finished with these, however you understand, they press all of that totally free cash. ’cause keep in mind the FedNow accounts that 24/7 immediate payment system remains in location. Truly what federal governments have discovered that when they offer the cash away, individuals will utilize those accounts, right? However if to get them to refill those accounts, they have actually not been really effective. So that’s the option. Yes, you’re most likely gon na proceed and utilize the totally free cash, however this is what keeps your option since this is beyond the system, right? And this is my individual vote in addition to Food, Water, Energy, Security, Barterability, Wealth Conservation, Neighborhood and Shelter. That’s what, that’s my vote. That’s where my wealth and my cash goes, right here. However if you utilize it, then if everyone embraces it, then we’re gon na have CBDCs. However we do not even require everyone to embrace it or not embrace it. We just require a singing minority. So that’s what my work has to do with, to assist you comprehend that today we do have options.
Lynette Zang ( 14:17):
You can vote with your handbag if you do not choose this, which truly is beyond the system and has actually been for thousands and countless years, when we enter into a CBDC, and they can manage every thing that you do. Bye-bye flexibility. Bye-bye option.
Ryan ( 14:39):
Thanks Lynette. Value it.
Lynette Zang ( 14:41):
My satisfaction. It is necessary for individuals to comprehend this. Lack of knowledge does not make you immune, it simply leaves you susceptible. And personally, I do not desire anyone to be susceptible.