(by Connor Tomlinson | The American Spectator) – Inflation reached 7.9 percent last month. Gas prices have passed the recession threshold of $130 per barrel. So, what is President Biden’s newest plan to fix the mess that the Federal Reserve’s “New Normal” of printing $120 billion in quantitative easing every month? A national digital currency, to inflate, manipulate, or confiscate whenever the state so wishes. On Wednesday, Biden signed the “Executive Order on Ensuring Responsible Development of Digital Assets,” to explore the use of digital ledger technology to increase “financial inclusion and equity” and decrease “energy demand and climate change.” But why are over 100 countries developing and implementing centralized digital currencies?
This initiative had its genesis in the UK Parliament. After cash payments were banned by many businesses during the pandemic, Chancellor Rishi Sunak has spearheaded the “‘biggest upheaval in the monetary system for centuries”: the G7 adopting Central Bank Digital Currencies (CBDCs). Dubbed “Britcoin,” this digital financial infrastructure would be a combination of blockchain currency and non-fungible tokens (NFTs), which are programmable by employers or governments to be restricted to being spent on specific approved goods or services. Bank of England director Tom Mutton suggested governments “could introduce programmability,” with built-in smart contracts ensuring that “restrictions” could be placed on where and how currencies are spent, ensuring “socially beneficial outcomes” are produced.
But what would those outcomes be?
Like the concordance between neocon RINOs and the Democrat establishment, the UK’s socialist Labour opposition party and ruling so-called Conservatives have formed an indistinguishable uni-party, in lockstep on everything from climate change to COVID lockdowns. On this year’s International Women’s Day, Labour MP Dawn Butler reposted a speech in which she urged the government to convert the “career ladder” into a “career escalator” for women and ethnic minorities. To ensure proportional representation on corporate boards, the Labour party proposes a government certification system, grading businesses on their corporate commitments to diversity and inclusion.
Not only could you be censored by Silicon Valley for your wrong-think but a partnership between international unelected bodies and corporate monopolies also could unperson you from buying food, fuel. and property.
This would constitute an adoption of the World Economic Forum’s (WEF) proposed Environmental, Social, and Governance (ESG) Scores for businesses. To access the potential investment from the numerous holding firms partnered with the WEF, businesses must donate profits and tailor operating policies toward efforts like lowering carbon emission and promoting gender and racial parity within their boardrooms.
This constitutes a movement from the existing model of shareholder profits toward the WEF’s conception of “stakeholder capitalism”: where businesses work in concert with governments, NGOs, and international organizations to end world hunger, gender inequality, and climate change.
To prove compliance with these targets, businesses must produce ESG reports, quantifying steps taken to meet ESG metrics. This involves gathering data on not only employees but also their customers. This means that any dissident working or purchasing from a business eager to earn WEF investment is at risk of being deplatformed from purchasing vital goods and services. If your social media posts are a stain on an otherwise spotless ESG record, then businesses may block the use of your allotted digital currency. Read Full Article >