Monday, April 15th, 2024

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Bank of England teams with MIT to create STATE-controlled digital currencies in scheme to exert complete control over citizens

Bank of England teams with MIT to create STATE-controlled digital currencies in scheme to exert complete control over citizens

(Natural News) What made Barack Obama’s effort to implement ‘universal healthcare’ via his “Obamacare” fiasco so evil was that he knew that all Americans, at some point in their lives, require medical care.

By implementing a full-on, government-controlled healthcare system, Obama knew how that would have given central planners nearly complete control over American citizens.

Now, the next phase of that authoritarian plan is coming into view: Controlled citizens’ finances.

According to Reclaim The Net, the Bank of England has announced that it has partnered with the Digital Currency Initiative at the Massachusetts Institute of Technology with the objective being to conduct joint research into developing a central bank digital currency.

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“An important point to note regarding this research partnership is the fact that the Bank of England has made it clear that it currently has no intention of launching its own CBDC at the current time. The work being conducted between the bank and MIT is purely for research purposes,” the report notes.

However, the bank has conducted research into the topic before, having previously released a paper on the topic of creating a national digital currency. The DCI then noted ways that the plan could eventually come to fruition.

In addition, the Bank of England has also worked with HM Treasury in the past, forming a panel to study how a central bank digital currency could be created and how it would likely function. The committee studied a number of issues related to the subject, while also examining ways that the currency could be utilized throughout the United Kingdom.

“A key conclusion that was reached by the committee was the insight that a national digital currency could have some distinct advantages. At the same time, it is a matter that needs to be thoroughly researched to determine when there is a need for it,” Reclaim The Net noted, adding:

In recent years, there has been massive interest in the topic of CBDCs. The Bank of England is far from the first central bank to look into this topic. Central banks in countries such as South Africa, Australia, the Bahamas, and Singapore have all engaged in CBDC projects and made significant progress. A few of these banks have already launched a national digital currency.

The report went on to note that the DCI at MIT has also partnered with other major banks and financial institutions to examine the implementation of a national digital currency. They include the Bank of Canada, which also partnered with MIT for a CBDC study, as well as the Federal Reserve Bank of Boston, which has been involved in an analysis dubbed the “Hamilton Project,” which was launched in 2020.

These efforts at creating a national digital currency should be viewed as nothing short of governments seeking to gain even more leverage and control over their citizens.

Consider that with currency — dollars, silver and gold coins, etc. — the government has no way of knowing how much you have at any given time. While existing in our modern society requires financial tools like having a bank account, a checking account, and/or a debit card, citizens can still stash hard and fiat currency for later use in their homes and Uncle Sam has almost no way of knowing how much is being stashed.

But if all hard currency and fiat money are replaced by a 100-percent digital alternative, the government will literally know how much money citizens have at any given time. Worse, if a citizen gets out of line — like, say, protesting at the Capitol Building on Jan. 6 — that same government can deem you an enemy of the state and ‘freeze’ your assets like the Biden regime has done to Russia following its invasion of Ukraine.

Digital currency is not about developing a ‘modern financial instrument,’ it is about control and we should resist it.

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