Is Our Money Safe?

The greatest risk of AI is its ability to hack our finances. One day, we may wake up to find our money has disappeared. 

AI is a useful tool, but it is often wrong, and not in shape to be fully trusted.

CBDC's Coming Soon

Within a year to two years, central bank digital currencies will be real and active. Your money will no longer be money, it will be tokens that governments can cancel or control at whim. For instance, if you exceed your carbon footprint, your access to money may be restricted:

Bank Bailouts

GFC 2.0

Three banks have gone bust in the last few days; the collapses started with Silvergate, followed by Silicon Valley Bank which became the USA's second largest bank failure in history, and now on Sunday, New York based Signature bank has had regulators take control. 

Clearly this is serious and yet more banks will fail. I predicted this would happen. Back with GFC 1.0 there was little financial rigour put in place, goalposts were moved and institutions were rescued. The term 'too big to fail' became a thing. I complained loudly, saying where were my bargains? Governments propped up failure. That never leads anywhere and only causes more harm. And here we are.

Word is that SVB spent more time on trendy causes than actually paying attention to risk management. I can believe it. The other rumour is that Prince Harry and his wife have a lot of money deposited with SVB. We'll see, but don't be surprised if you see the pair suddenly head back to England and for King Charles to bail his son out. If this does happen, watch the reaction from the British subjects, the Coronation could end up being booed. 

As the saying goes, we live in interesting times.

https://www.coindesk.com/policy/2023/03/12/crypto-friendly-signature-bank-shut-down-by-state-regulators-fed/

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?

Central Planning Never Works

They started with the scamdemic, that trained everyone to obey. 

Now they're coming for: 

1. Food supply, then; 

2. Energy, then; 

3. Money. 

New Zealand is well advanced. The lockdowns drove many small retailers and farm producers to the wall. Food prices have been rising steeply, in a country that has more food than it can possibly consume - which is kind of strange right there. 

Then, NZ shut down its one oil refinery. The fuel being imported is rubbish, I've had to go to using 'Super' to get any kind of performance. Without fuel, NZ has no energy, the farms shut down, and the country starves. 

Then, the Reserve Bank is working on a Central Bank Digital Currency (CBDC) that is programmable. They'll control how you spend your money, it will have an expiry date, rather like topping up your prepaid phone. The government will assign you a carbon score, use too much, they cancel your money. Call these carbon fines. 

Key here is the government will control how you think. It is for your health and the planet. Don't like this structure - tough titties, as there will be no real democracy, all elections are now shams. 

Of course, this is a recipe for disaster. Central control never works, but economists always think it will. For evidence - check out the USSR and how that turned out. By the 1980's, more food was produced by small holdings in the backyard than by large farms. The profit motive and individual endeavour is what works. These globalist shills are complete fools.

See this substack for how it will apply overseas, but NZ is not that different: https://threadsirish.substack.com/p/did-you-know-that-on-july-28-2020