The Great Reset

We keep hearing of the Great Reset. This appears to be a future where you will own nothing and you will be happy. A world where there will be no cash, instead money will be replaced by a central bank digital currency or CBDC for short. The new currency would be programmable, meaning what you spend and how you spend it can be controlled. I'll leave you to contemplate how dystopian this sounds, it is truly horrifying. But it is real, don't forget that, this is not some wackadoodle conspiracy theory. Rishi Sunak, the new prime minister of the UK has said that a CBDC will be introduced before the end of 2025.

What I am addressing with this blog post is just how stupid is this proposal. In New Zealand, banks are currently making record profits. But, the banks appear unaware of their looming extinction. If the world moves to CBDC's there will be no need for banks. Those CBDC's will exist on the block chain and be un-hackable. The currency cannot be stolen, and your access to your funds will be by permission and likely linked to your own personal biometric data. While this does sound clever, it too is incredibly stupid. For some reason the people who design these systems have never heard of bad people and their hammers meeting your kneecaps, or even a saw for removing your hands to access your data.

But I digress. This reset will remove debt, banks will cease to exist as there will be no mortgage lending. Bank shareholders must be informed of this as their holdings are worthless under this proposal. You will own nothing, and so you will not need to borrow to buy a house.

The World Economic Forum appears to have come up with this nonsense. They're a cult that meets in Davos, Switzerland every year. The great and rich fly in to meet one another thinking they're very clever. But they haven't thought this Great Reset through. In implementing this proposal, they're wiping out their own wealth and handing all control of their finances to central banks. Who controls those central banks appears an open question. Have these fools never heard of war and revolution?