After the announcement of trouble at Silicon Valley Bank, many anticipate a major collapse of the economy. We have heard these threats before through many years expecting the ball to drop eventually, but this one seems to have a lot of attention. The difference is this is a major shutdown affecting other banks they say, and worse than the 2008-2009 fiasco. Many fear bank shutdowns will plunge us into a cashless society and into the digital currency.
Listen to “Banking Crisis of Silicon Valley Bank” on Spreaker.
Yes we know the plans of the Elite to use digital currency and as the Rothschilds predicted in the their 1988 Economist magazine the World Currency (The Phoenix) was announced at that time that we would see around 2018. Here we are in 2023 and still U.S. currency remains the world currency exchange. Has anything changed? Well we are heading towards digital currency, but hasn’t the banks been on that system since 2002? What will be different?
Despite suspicions and speculation, Federal reserve Chairman Jerome Powell says don’t expect a central bank digital currency (CBDC) soon. He says, “We’re not at the stage of making any real decisions.” But do you believe him? The Elite claim such tranaction is not even on the table to make any hasty decisions, yet a “FedNow” service is planned to launch in July 2023. FedNow is an instant payment processing system that seeks to be the base of all digital transactions.
Trilateral Commission meeting stated, “this year, 2023, is Year One of this new global order” and that inflation will last for decades. Yet Fed Chairman Powell claimed the central bank was not even close to releasing a U.S. CBDC and said it could take years.
However in the meantime worldwide, 11 countries, including China, have implemented their own CBDCs, and 114 countries are considering their own, according to data from The Atlantic Council, a U.S.-based think tank.
Although the creation of any CBDC meant for the broader public would require the authorization of Congress in The U.S., Powell said a “wholesale” digital currency meant exclusively for use between banks and the Fed would not require approval. So the intention he says is only for banks, not for the public, and they deny being close to that point. But remember the U.S. currency is only solvent as long as it remains backed by foreign interests and used as the world exchange, right?
Certainly we may experience some fallout from this event. Inflation, possible recession will occur. But the currency has been flimsy for a while and with the Federal Reserve continually adding more digits to the digital currency as it is that decreases the value of our declared worth of the dollar, thus messing with what it costs for products and services, which creates inflation.
From a layman perspective we can only speculate, but we also can sense a looming switch-a-roo in the making. However, we have been on the digital fiat system for a while and nothing affected us in that already. It would take a major crisis to alter our way of life that we would accept a major currency switch. Many fear shutdowns, but if your banks shutdown no one would be able to make transitions, INCLUDING paying the IRS, making payments to ANYONE, and functioning in the market at all. So don’t fear that. We will never accept a total shutdown, would we? Neither would it be practical for the Elite.