World Economic Forum (WEF) members are celebrating the emergence of “digital cash” as governments around the globe prepare for “cashless societies.”
During the WEF’s “Summer Davos” event in China last month, attendees were buzzing about the advancement of Central Bank Digital Currencies (CBDCs).
Over 1,500 government, corporate, and academic leaders, including a large delegation from Saudi Arabia, gathered for the WEF summit in Tianjin, China on June 27–29.
The main topic of discussion during the three-day conference, also called the Annual Meeting of the New Champions, was how the WEF’s agenda can be amplified in “cashless societies” through the use of CBDCs.
Chinese Premier Li Qiang kicked off the summit with an address in which he called for more globalization.
The second-ranking member of the Chinese Communist Party also warned there will be more public health crises, which he suggested will bring new opportunities to advance the globalist agenda.
“COVID-19 will not be the last public health crisis humanity faces,” said Qiang.
“Global public health governance needs to be enhanced.”
Other notable moments included a panel discussion titled “China’s Economy: The Big Rebound?” during which Cornell Professor Eswar Prasad advocated for governments using CBDC to control citizens’ purchases.
As Slay News reported, Prasad gloated that a “digital dollar” could be used to strip Americans of their Second Amendment rights by blocking them from buying “ammunition” and other “less desirable items.”
A CBDC is a digital currency issued and governed by a central bank.
In the case of the United States, a CBDC would be a digital currency issued and controlled directly by the Federal Reserve.
A CBDC would replace cash for all transactions and be controlled by the central bank.
It would be backed by the central bank and its value is manipulated by the Fed’s monetary policies.
However, whereas cash transactions are anonymous, CBDC transactions are not.
The monitoring of CBDC transactions has already been confirmed by Federal Reserve Chairman Jerome Powell.
But anonymity would not be the only casualty of CBDC as one of the key features would be the ability to monitor what individuals purchase to control and limit what they spend.
During a panel discussion at Summer Davos, Prasad boasted to WEF members that digital currencies offer governments the “benefit” of controlling what taxpayers purchase.
“If you think about the benefits of digital money, there are huge potential gains,” he said.
“It’s not just about digital forms of physical currency.
“You can have programmability [like] units of central bank currency with expiry dates,” he explained.
“You could have . . . a potentially better — or some people might see it, a darker — world, where the government decides that units of central bank money can be used to purchase some things but not other things that it deems less desirable, like say, ammunition or drugs or pornography or something of the sort.
“And that is very powerful in terms of the use of a CBDC.”
Summer Davos featured another speaking event titled “How to Stay Within Planetary Boundaries – Carrot or Stick?”
This discussion focused on whether to incentivize or threaten people to comply with “climate goals.”
The event was hosted by Nature Energy Editor Nicky Dean.
Dean warned that people may need to be punished if they do not comply with climate mandates to meet the goals of the WEF’s green agenda.
“We are—broadly speaking—agreed that we need to get on track towards a net-zero, climate-safe, and nature-positive future, but we know this will not be easy,” said Dean.
“And we’re going to need to change behaviors of both individuals but also the way that our industries and corporations and also our governments work and practice.
“We’re going to need to do this through a mixture of carrots and hopefully perhaps not so many sticks in some kind of mix, and there’s a very active and live debate as to how we go about this.
“But we’re likely to see an increasing move towards more stick-like interventions into the future as things worsen if we’re not able to act.”
Institute of Public and Environmental Affairs Director Ma Jun agreed with Dean.
“We need sticks,” Jun declared.
Sunway University Sunway Centre for Planetary Health Executive Director Jemilah Mahmood said sticks are needed to control the public in the “short term.”
However, he noted that carrots are required in the “long term.”
Mahmood added that “there are worse things coming” than COVID-19.
As regular Slay News readers will be aware, the emergence of digital cash poses a grave threat to public freedoms.
The WEF has been pushing the controversial technology for some time, however, and frequently praises digital cash as a tool for ushering in its radical agenda.
In particular, the WEF is most excited about the opportunities that CBDCs offer to advance the organization’s climate agenda.
Those whose spending contributes to “climate change,” for example, would be punished, either with fines or other limits that would lock them out of regular society.
As Agustin Carstens, the General Manager of the Bank of International Settlements (BIS), told his fellow WEF members last year, CBDCs will give the unelected global power elite “absolute control” over the world’s population.