{"id":1431405,"date":"2023-10-08T18:00:00","date_gmt":"2023-10-08T22:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1431405"},"modified":"2023-10-08T18:00:00","modified_gmt":"2023-10-08T22:00:00","slug":"wef-somebody-has-to-be-in-charge-of-rationing-freedom","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/wef-somebody-has-to-be-in-charge-of-rationing-freedom\/1431405\/","title":{"rendered":"WEF: Somebody Has To Be In Charge Of Rationing Freedom"},"content":{"rendered":"

WEF: Somebody Has To Be In Charge Of Rationing Freedom<\/span><\/p>\n

\n

Authored by Mark Jeftovic via BombThrower.com,<\/em><\/a><\/p>\n

That\u2019s why only Central Banks can create digital currencies<\/h2>\n

The Fed recently put out a white paper,\u00a0Data Privacy for Digital Asset Systems<\/a>, which contends that the expectation of privacy in digital currencies (read: CBDCs) stems from misunderstanding how digital systems work.<\/p>\n

\u201cConcepts such as the desire for \u2018cash-like anonymity\u2019 are based on false underlying assumptions.\u201d<\/em>, is the crux of it (quick, somebody tell the Monero team, and everybody else already deploying anonymizing protocols and applications for digital assets).<\/p>\n

The subtext is that there can be\u00a0some<\/em>\u00a0privacy and confidentiality safeguards built into CBDCs, but at the end of the day those would still be subject to being overridden or dispensed with. The paper doesn\u2019t come out and say that, but it does make oblique references:<\/p>\n

\u201cconfidentiality implies that collected and stored data is protected from view in some manner, such as obfuscation or access restriction, and available only to authorized actors.\u201d<\/em><\/p>\n

Which of course makes you wonder who exactly will be authorized and what will their capabilities be? It truly is the trillion dollar question.<\/p>\n

<\/a><\/p>\n

WEF: \u201cHold my beer\u201d<\/h2>\n

If we keep this paper in mind while we consider the World Economic Forum\u2019s recent article on\u00a0digital currencies, privacy and freedom<\/a>, which put a finer point on it, while paying lip service to the desire for privacy in those characteristic WEF-speak euphemisms:<\/p>\n

\u201cA digital cash replacement should not enable criminality, but\u00a0there should be\u00a0some\u00a0freedom<\/strong>\u00a0to transact with complete privacy.\u201d<\/em><\/p>\n

\u201cSome freedom\u201d implies that any freedom will be subject to approval, because either you have complete freedom, or you don\u2019t.<\/p>\n

\u201cSome freedom\u201d coming from the WEF especially, sounds a lot like their \u201cLife in 2030\u201d vision, which is mostly known for point #1:\u00a0\u201cYou\u2019ll own nothing and be happy\u201d<\/em>.<\/p>\n

Point #4<\/a>\u00a0is\u00a0\u201cYou\u2019ll eat much less meat. An occasional treat, not a staple. For the environment, and for your health\u201d.<\/em><\/p>\n

<\/a><\/p>\n

In other words, according to the WEF, digital currencies will afford\u00a0some<\/em>\u00a0privacy and\u00a0some<\/em>\u00a0freedom. Just like how in 2030 you\u2019ll be able to eat\u00a0some<\/em>\u00a0meat. (As long as you behave.)<\/p>\n

Throughout the piece the impetus toward digital currencies is ascribed to consumer preferences for convenience \u2013 that nation states and NGOs (including the WEF) are relentlessly pushing us there, along with digital IDs and health passports, is never mentioned.<\/p>\n

Through their preference for the convenience of electronic payments, we will inadvertently lose the historic freedom that only cash provides: to spend our money on what we want, with whom we choose.<\/em><\/p>\n

It\u2019s always amusing to watch the Davos-darlings pretend to grapple with thorny ethical issues:<\/p>\n

As governments and central banks consider introducing retail central bank digital currencies (CBDC), they must therefore answer the following: Once the last cash payment is made, does this mean our historic right to make payments that are not observable or censorable by the state will end on the same day? Is that what we want?<\/em><\/p>\n

The answer, of course, is a resounding \u201cyes\u201d if we\u2019re to remember some of the more breathless pronouncements from their conclaves:<\/p>\n

Alibaba Group president J. Michael Evans boasts at the World Economic Forum about the development of an “individual carbon footprint tracker” to monitor what you buy, what you eat, and where\/how you travel. pic.twitter.com\/sisSrUngDI<\/a><\/p>\n

\u2014 Andrew Lawton (@AndrewLawton) May 24, 2022<\/a><\/p>\n

\u201cWe are developing, through technology, an ability for consumers to measure their own carbon footprint. What does that mean? That\u2019s where are they travelling, how are they traveling? What are they eating? What are they consuming on the platform? So, individual \u2013 carbon \u2013 footprint \u2013 tracker. Stay tuned, we don\u2019t have it operational yet, but it\u2019s something we\u2019re working on\u201d<\/em>.<\/p>\n

The WEF article tackles the conundrum:<\/p>\n

any system that allows people to make payments that cannot be traced or blocked is bound to attract criminals as well as facilitate personal liberty\u2026 A digital currency system should not mimic the \u201cwild west\u201d, but there should be\u00a0some<\/strong>\u00a0freedom to transact with complete privacy.<\/em><\/p>\n

And while the article acknowledges that,<\/p>\n

\u201cif a CBDC doesn\u2019t have some element of this capability, my prediction is it will fail in some major developed economies.\u201d,<\/em><\/p>\n

the entire framing is that Central Banks are the only game in town, and they need to get it right:<\/p>\n

If the private sector could deliver a truly cash-like product itself, then we wouldn\u2019t need this debate<\/strong>, but even a limited degree of cash-like behaviour would be incompatible with electronic payments laws.\u00a0The reality is that only a central bank could deliver this type of product, thanks to the precedent set by their monopoly on the issuance of cash.<\/strong><\/em><\/p>\n

This paragraph would be the so-called \u201cmoney-shot\u201d. There is no mention of Bitcoin, or that crypto-currencies and stablecoins are already becoming ceded territory within the regulatory frameworks of nation states. There is no acknowledgement that many holders of wealth and capital will simply end-run CBDCs for the very reasons they articulate.<\/p>\n

One of the WEF\u2019s core tenets is that nation states are losing their position as the sole arbiters of power in this Fourth Industrial Revolution. That means they will have to coexist within a rubric of \u201cStakeholder Capitalism\u201d, but what the WEF sending mixed messages:<\/p>\n

On the one hand, governments are losing their primacy (and thus, monopoly on money issuance and supra-national initiatives like digital id\u2019s and health passports), while on the other, only they have the authority to bless ascendent monetary systems. Which is it?<\/p>\n

And\u00a0how could you possibly publish an article like this without observing the elephant in the room: Bitcoin<\/strong>\u00a0(and crypto-currencies, including stablecoins) have\u00a0already<\/em>\u00a0entered the monetary landscape and have changed it in irreversible ways.<\/p>\n

As expected when it comes to the World Economic Forum, it\u2019s a display of truly breathtaking hubris and nescience.<\/p>\n

*\u00a0 *\u00a0 *<\/p>\n

My forthcoming ebook\u00a0The CBDC Survival Guide<\/strong>\u00a0will give you the tools and the knowledge to navigate coming era of Monetary Apartheid. Bombthrower subscribers will get free when it drops,\u00a0sign up today<\/a><\/strong>.<\/em><\/p>\n

Today\u2019s post was an excerpt from the CBDC coverage section of the latest\u00a0The Bitcoin Capitalist.\u00a0<\/strong>TBC provides actionable intelligence on the macro forces shaping Late Stage Globalism and a tactical toolkit for preserving and growing your wealth as it plays out.\u00a0Try it today here.<\/a><\/strong><\/em><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSun, 10\/08\/2023 – 14:00<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/geopolitical\/wef-somebody-has-be-charge-rationing-freedom<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

WEF: Somebody Has To Be In Charge Of Rationing Freedom Authored by Mark Jeftovic via BombThrower.com, That\u2019s why only Central Banks can create digital currencies…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1431405","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-60nb","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1431405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1431405"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1431405\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1431405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1431405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1431405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}