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Thread: World Economic Forum debuts Central Bank Digital Currency framework

  1. #1

    World Economic Forum debuts Central Bank Digital Currency framework

    Like I've said all along, Bitcoin was the masses introduction to central global blockchain based cryptocurrency, as revealed by the 1988 Economist cover. Anyone who claims the Bitcoin explosion, Economist cover and the CBDC are unrelated is either a moron or a shill.

    https://www.zerohedge.com/crypto/wor...gital-currency

    http://www3.weforum.org/docs/WEF_CBD...er_Toolkit.pdf
    Last edited by devil21; 01-23-2020 at 06:29 PM.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC Fishing Boat Rentals



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  3. #2
    https://www.msn.com/en-us/money/mark...cid=spartandhp

    And now at Davos they are pushing that the US have a digital Dollar. They expect China to introduce the digital Yuan by end of this year.
    Where is John Galt?


    When life itself seems lunatic, who knows where madness lies? - Miguel de Cervantes, (Don Quixote)

  4. #3
    I'll finish out my remaining years on barter at this rate.
    "The Patriarch"

  5. #4
    Most transactions are already done digitally.

  6. #5
    Quote Originally Posted by Zippyjuan View Post
    Most transactions are already done digitally.
    And a whole lot aren't. Your point?

    Even the sheep are starting to catch on. Customer at grocery store in line ahead of me today made a comment to the cashier about how she likes paying in cash but thinks she won't be able to much longer. She didn't understand why. I figured the checkout line at the store wasn't the place to start a lecture on what's really going on but I sure wanted to.
    Last edited by devil21; 01-28-2020 at 01:46 AM.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC Fishing Boat Rentals

  7. #6
    How exactly would reserve banking work within the framework of a DLT based CBDC? How would banks create bank credit and issue CBDC if there are finite "crypto coins" that the central bank owns/creates?
    I compiled a "brief" history of events since October 2008 that are defining the global currency war and the role that gold is playing:

    Tin Foil Hats, Economic Reality and the Total Perspective Vortex

    Also, have you contacted your Congressional Rep and asked them co-sponsor Ron Paul's Rep. Paul Broun Jr.'s HR 1098 77: Free Competition in Currencies Act?

  8. #7
    Quote Originally Posted by Bern View Post
    How exactly would reserve banking work within the framework of a DLT based CBDC? How would banks create bank credit and issue CBDC if there are finite "crypto coins" that the central bank owns/creates?
    Banks won't actually use crypto- they are looking into using blockchain technology to secure transactions.
    Last edited by Zippyjuan; 01-28-2020 at 11:36 AM.

  9. #8
    Quote Originally Posted by Zippyjuan View Post
    Most transactions are already done digitally.
    True, however the outer layer of this onion still can be "improved" that is the retail end of it all I guess you could call it that? You & me the consumer and do away with cash altogether. Think of the implications this would have for marketing. Much clearer data collection and tax collection too. There will be nothing "they" won't know about you.
    Where is John Galt?


    When life itself seems lunatic, who knows where madness lies? - Miguel de Cervantes, (Don Quixote)



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  11. #9
    It seems that central banks are making a lot of noise about digital currencies lately, so I'm guessing there must have been some consensus reached recently (perhaps at Davos?).

    Leaders of six major central banks undertaking joint research on digital currencies are considering holding their first meeting in mid-April in Washington, the Nikkei newspaper reported on Thursday.

    A Bank of Japan executive said no timetable has been fixed for any meeting of the group, but said central banks must respond flexibly to rapid digitalisation to stay relevant as issuers of money.

    "In Japan, we don't have any plans now to issue central bank digital currencies (CBDC)," BOJ board member Takako Masai told a news conference in Nara, western Japan, on Thursday.

    "But we need to make an effort so we're ready to respond, in case public demand for central bank digital currencies rise dramatically," she said.

    The central banks of Britain, the euro zone, Japan, Canada, Sweden and Switzerland announced a plan last month to share their findings to look at the case for issuing digital currencies, amid growing debate over the future of money.

    The leaders of the six central banks and the Bank of International Settlements will meet in April to discuss ways to streamline cross-border settlement and security issues that need to be addressed if central banks issue digital currencies in the future, the paper said.
    ...
    https://www.cnbc.com/2020/02/06/reut...l--nikkei.html

    Japan needs closer cooperation with the U.S. to curb the potential influence of China’s planned digital currency, according to a senior lawmaker in Prime Minister Shinzo Abe’s ruling party.

    Speaking ahead of the Friday release of proposals aimed at paving the way for digital currency use in Japan, Norihiro Nakayama, vice minister for foreign affairs, said he hoped the Federal Reserve would partner with six other central banks including the Bank of Japan in studying digital currencies.

    “We sense the digital yuan is a challenge to the existing global reserve currency system and currency hegemony,” said Nakayama, a top member of the ruling party group that drafted the proposals. “Without the U.S., we cannot counter China’s efforts to challenge the existing reserve currency and international settlement system.”

    The comments indicate the heightened concern among policy makers in Japan over the likely impact of a digitized yuan expected for later this year. ...
    https://www.bloomberg.com/news/artic...oposals-friday
    I compiled a "brief" history of events since October 2008 that are defining the global currency war and the role that gold is playing:

    Tin Foil Hats, Economic Reality and the Total Perspective Vortex

    Also, have you contacted your Congressional Rep and asked them co-sponsor Ron Paul's Rep. Paul Broun Jr.'s HR 1098 77: Free Competition in Currencies Act?

  12. #10
    nm
    Last edited by Bern; 02-06-2020 at 09:14 AM. Reason: please delete
    I compiled a "brief" history of events since October 2008 that are defining the global currency war and the role that gold is playing:

    Tin Foil Hats, Economic Reality and the Total Perspective Vortex

    Also, have you contacted your Congressional Rep and asked them co-sponsor Ron Paul's Rep. Paul Broun Jr.'s HR 1098 77: Free Competition in Currencies Act?

  13. #11
    Fed Governor Brainard also recently spoke on the implementation of a CBDC.

    Fedcoin?
    https://www.reuters.com/article/us-u...-idUSKBN1ZZ2XF

    PALO ALTO, Calif. (Reuters) - The Federal Reserve is looking at a broad range of issues around digital payments and currencies, including policy, design and legal considerations around potentially issuing its own digital currency, Governor Lael Brainard said on Wednesday.
    Once they start publicly talking about it, that means it's already been developed and is just waiting for the right crisis to implement it.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC Fishing Boat Rentals

  14. #12
    Jay Powell also admitted during his House Financial Services appearance today that the Fed is investigating a purely "digital dollar".
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC Fishing Boat Rentals



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