The digital euro will soon enter into circulation and operation as its implementation is expected to be officially announced by the head of the European Central Bank, Chistin Lagarde, in Athens-Greece on October 26.
In practice, however, the process of withdrawing cash begins and the control of citizens’ money, in terms of how they use it and what they do with it in their private lives. The digital euro, which “is a digital wallet, which will be loaded with as much money as we want from the bank accounts and we will use it in our daily transactions.” The digital euro will be guaranteed by the ECB itself.
On October 26, the head of the ECB, Christine Lagarde and the board of the central bank will be in Athens-Greece for the – outside of Frankfurt – annual meeting and during this visit her plans for the digital currency of the EU will also be presented.
But the interesting thing about the digital euro is that apart from the fact that it will be controlled how one spends one’s money, if the authorities want it, it will be able to “deactivate” it.
Because the digital euro is just that: A software and like all software can be disabled or a “user” can be banned from accessing it.
If, for example, someone holds and publicly expresses views that disturb the established order and the central authority, with appropriate legislation that can be easily implemented and adopted he will be “fined” on the grounds that he is causing a disturbance in the social order and will be ” money disappears’.
Of course, in unison, central authority and media controlled by it will say that this is being done to protect Democracy (which in essence will have been abolished) and freedom.
Digital central bank money can be used to control the behavior of larger groups or even to control the behavior of entire populations. It will be interesting to see exactly how the digital currency could work by effectively handing over control of its use to the central authority.
Bo Li, former deputy governor of the People’s Republic of China’s Central Bank recently said:
“We believe that cbdc can improve financial inclusion through what we call programming.
The cbdc can enable government and private entities to program the creation of smart contracts to enable targeted policy functions.
For example, social welfare payment, consumption stamps and food stamps.
By programming the cbdc this money can be precisely targeted for what kind of people can own it and what kind of use it can be put to, for example for food, so this potential programmability can help government services to precisely target their support to those people who need the support.”
In short, what the Chinese official is saying is that the future money will not only be controlled but also personalized! It will be enabled for specific people and therefore also disabled for specific people. There is the potential to use programmed digital money to control the behavior of the entire population.
The EU is gradually eliminating the possibility of even anonymous micropayments on the Internet. If the digital euro is combined with the new digital identities, and the social media that control what everyone says and communicates with others, then a powerful tool of absolute control of citizens is created.
The famous American producer, Joe Rogan, warns Americans about what the elite seek to achieve, total control of Western societies, through a combination of digital currencies and new digital identities-wallets, which in the future may be linked to banking accounts and with a specific social credit system, which will be based on a “good behavior” point system like in China!
In China as you know, every citizen accumulates “good behavior” points. In short, if he is liked by the authorities with what he says and does, he gets certified as a “good citizen” and therefore has access to funding and benefits!
If, on the contrary, he falls below the “base” in the rating, i.e. creates problems for the existing authority, he is cut off from access to benefits and, in general, to any social activity that promotes his life.
And one way this is achieved is through electronic IDs combined with the virtual abolition of cash.
