Federal Reserve discussing ways to implement full blown socialism using digital currency

Lance D. Johnson – Natural News Sept 29, 2020

In 2020, public health emergencies were issued en masse, without foresight and with no consideration of the net harm these discriminatory lockdowns would impose on small businesses and the working class. This led to an unemployment crisis, as small businesses were shuttered and corporations left to profit. As people’s lives were upended, the Federal government was compelled to pass a series of spending bills that redistributed money throughout the economy. The cash was helicoptered in via one-time payments to families, forgivable loans to businesses, large unemployment checks, massive drug company investments, and other corporate bailouts. As Americans got a taste of socialism and narco-state dependence, the Federal Reserve has been plotting a new centrally-planned economic system that would circumvent Congress and the traditional banking system using a new digital dollar.

Federal Reserve working on a new monetary system, digital currency

Right now, Federal Reserve bankers are preparing a new monetary system that is a sophisticated form of socialism. This system would be set up to deliver a new digital currency directly to Americans. The system would redistribute the new currency based on economic metrics and criteria established by the central economic planners themselves.

Simon Potter, leader of the Federal Reserve Bank of New York markets group, and Julia Coronado, a former economist for the Fed’s Board of Governors, are two of the insiders trying to innovate the redistribution of money through a new digital currency. The two insiders have proposed a monetary tool called recession insurance bonds. When the economy falls into a recession, the insurance bonds would kick in and money would be wired instantly to Americans based on a pre-determined calculation.

This system would put a new technocratic government in charge, not beholden to the people or their representatives. This new government of economic planners would rule over Congress, bypassing spending bills, disregarding inflation, while doing away with any semblance of balanced budgets. Congress would no longer have the power of the purse. The technocratic government would analyze the GDP and set aside a set percentage of GDP that would then be divided equally to households in a time of recession or market instability. These recession insurance bonds would essentially be zero-coupon securities — a contingent asset for all households that could be activated in a time of crisis.

The central economic planners would determine what constitutes a crisis. For example, a .5 percentage point increase in the unemployment rate could be the trigger that allows the Fed to deposit funds directly into American’s digital wallets. The new currency could then be monitored and tracked. The economy would be dictated, with no anonymous physical currency in the hands of the people. The funds could potentially be shut off completely if Americans do not do what is required to participate in the greater economic and social system put in place.

Fed’s new digital monetary system could finish off the dollar, so all financial transactions can be monitored and tracked

The Fed is clamoring to get rid of the Congressional spending structure because it takes Congress too long to get money to people in a time of crisis (as if pumping out helicopter money is the only way to solve problems caused by governments.) The Feds want the flexibility to buy these bonds without going to the private market. By controlling the interest rate, the Fed can then activate a set amount of bonds and deliver helicopter money digitally. In economic terms, the bonds will be considered an asset on the Fed’s balance sheet and the digital dollars would be considered a liability.

Cleveland Fed President Loretta Mester spoke about the implementation of a hybrid digital currency in her speech to the Chicago Payment Symposium called “Payments and the Pandemic.” She writes that pandemic emergency payments “brought forward an idea that was already gaining increased attention at central banks around the world, that is, central bank digital currency (CBDC).”

She revealed that legislation has been proposed that would create a digital dollar account for every American. This account is tied directly to the Federal Reserve. If the economy falters by specific metrics, the Fed can then release more digital dollars into American’s digital dollar accounts. By moving to a system of digital currency and Fed dependence, the Fed could scrap the dollar entirely and render physical currency obsolete. While it would take time to eliminate physical currency completely from the banking system, the Fed would be in the perfect position to speed the process up, making the traditional banking system obsolete and controlling the value of the digital currency as the physical dollar is allowed to collapse.

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Sources include:

ZeroHedge.com

Collapse.News

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13 responses to “Federal Reserve discussing ways to implement full blown socialism using digital currency”

  1. We are fast approaching the time when there will be two types of citizen. Those who rely on the State and have no means of getting out of the system. These people will be forced to have the vaccines, sign up to the digital passports, and take the Mark of the Beast otherwise they will have no access to work, travel, healthcare or banking. The others will get out of the system and become self sufficient, possibly with the support of a community of like minded people, growing their own food, living off grid, and using barter etc to survive.
    This is the reality we are now living in.

  2. we all saw this coming but hoped getting out of the Rothschild EU would keep us free
    it looks like the jews have every escape mechanism covered
    our only hope is to burn all synagogues, and kill the jew

  3. One mistake here
    its been established that the holocaust was a fake
    this is universally recognised now
    so how come he didnt know ?
    whatapillock !!

  4. As I have stated many time in comments on this site. The US & UK (City crime cartels & Wall S. t. mob) have been systimatically destroying global trading systems since the designed 2007/8 financial collapse. Nothing was fixed after 2008, the inference is that all is well with the current system… or, the system will need changing, but when we’ve delt with a few problems. So after 2008, currency wars, illegal sanctions, and trade wars. Brexit is a trade war against the EU. Now we have Coivd bioweapon which seeks to achieve a long list of objectives. I am not going to list them here as I don’t have the time.

    Surfice to say competitors and enemies of the City and Wall St. have been seriously damaged by NWO policies since 2008 and the over the top reaction to Covid. Go onto Amazon and see how many widgets are not available. This is damaging China, but it also damages businesses and jobs in the West, so this is a zero sum game, a battle of attrition where the NWO expects to win, crushing China, destabalising enemies & if this doesn’t work, BIG WARS.

    This is why the US is willing to support its internal economy so that it remains kinda stable. But all sort of things could and will happen. More bioweapon releases, expect the US to start a major trade war against the EU for being sooo successful & trading with Russia and China (Nord Stream 2 & Silk Road 2)

    The Daily Fail yesterday. You can’t make this crap up.

    https://www.dailymail.co.uk/news/article-8791523/Russia-China-waging-political-war-break-willpower.html

    China exports to the entire world…. & they want to break our willpower & by implication, have weaker economies so we can’t buy as much from China? Or, Russia wants to break our willpower, so the West (EU & many others) can’t buy as much oil and gas?

    Sir Nick Carter is a terrible bullpoo artist. The facts are thus, China has moved from a country that exports tats, to a leading technological manufacturing power that in some areas, out guns the best of the West & this in the City and Wall St. is a red pill that they don’t want to swallow.

    While Covid is a geopolitical fulcrum at play in the struggle for global dominace, Covid is not the only game in town. We must see the Covid bioweapon as part of a much bigger game that will either see NWO oppostion crushed and submissive, or there will an almight war & I don’t mean a war like WW2. WW3 has started, lets say it started in 2008, but 2008 started in 1998/99 and you could say 1999 started in the 1970, because this was the start of the downside of the post WW2 globalisation curve. WW2 in Europe was fake in many respects… I know many died, but the war in the Pacific was real, Japan was builing an Empire in Asia and the US (UK/City) knew that if Japan wasn’t stopped, Japan would plunder the Pacific Rim, now the US controls the PR, or should I say, they did.

    Big things are coming, meanwhile, everyone is looking at something they can’t even see. Sheeple are always conned and taken for a ride by slight of hand.

  5. There is no such thing as a Rothchild EU, actually it’s all based in London and the CityofLondon Corp., their knight of Malta based war machine, closely connected to the Papacy, watch the Phoenix, showing Vatican power, in the emblem of the Fed. Expect barter system starting 2021, at least for the US, including martial law and FEMA camps.

  6. Let’s hope so Activisor

  7. I see what’s happening to our world? I’m an elderly person, born during WWII..
    When I mention what’s is going on in this world & what’s the objective is, I get looks from younger people, like I’m not right in my head ? I’m being considered as an old fool conspiracy nut believer ! So now, my mantra is? Never argue with a cretin, because he/she’ll beat you down with their experience ! & with compulsory monthly vaccine injection to come, I say to all of those younger generation ” Bonam fortunam ”
    I will not see it, unless I’ll beat Jeanne Calment record ?

  8. Here is the problem which may reveal part of the Plan for the Plandemic Resets. The Resets are mainly involve the launching of high-techno AI integrated, universal mechanisms for controls over finances, trade, production, consumption, and over us. Most central in the planning is the international banking cartel control of world finances and their future plans together with the major multinationals of the world include massive Asian development prospects and a much greater reliance on global and regional internet connectivity according plugged into their planned grids.

    With respect to labour, the techno trend has been and undoubtedly will continue to be further outsourcing of many computer-related jobs. Secondly, their plans call for a world digital currency by 2022 and in this respect the US dollar is scheduled to go digital by early 2021. Notice this is not even an election issue. To reset our currencies into a global reserve currency will likely mean we in the West are going to lose hugely in any national exchanges with a gold-based global currency. Hence they no doubt plan on a great deal of “leveling” to hit the West. With more of a global economy down the road in their plans, it is predicted our incomes will diminish in the West. Such leveling is no doubt “equality” music to the ears of the international socialists who have backed the cartel & multinational corporate NWO Reset and betrayed real labour in their own homelands.

    The banking cartel knows full well exactly how their technological, financial, environmental, economic, and socialists Reset plans will significantly make people mainly in the West dependent on government handouts. Hence, one aspect of the Covid “new-normal” making people believe they are dependent on the largess of government and the banks, and a harbinger of future economic dependency in the West. Initially, of course, they will “promise” incomes almost as a right, while for a time they will carry on the dodge of making money out of nothing spreading it around to the millions unemployed, but eventually hyperinflation will hit, and they will find some way to turn the tap off to all of the useless eaters. In the interim, I foresee the Resets and the State making it much harder for couples to have children in the West. If I am wrong, then why do the sociopaths not come out of the closet and tell us what their plans actually are. With the Covid plandemic, all we can truly believe is that their closet door leads straight to down hell, the abode of their masters, and that is where they are leading us.

  9. Metallic voice, fearmonger, Holohoaxer, siding with dirty doom, and somehow in love with the current joke system. “Dollars are worthless; give me your dollars for my gold!!”

  10. This is your last chance to join the resistance
    or prepare for yur place in th Fema camps
    Rothschild and Stalin prepared the plan, Hitler fought the NWO as much as he could but British politicians betrayed Hitlers resistance and the British people. as they do now

  11. “A government of the people, for the people and by the people.” That’s socialism. For a real socialist just look to Jesus Christ. Whether or not he existed he preached socialism.

    The last thing the elite want is socialism, neither as defined by socialists and certainly not as defined by anti-socialists. (Nobody wants that.) What they want is best described by John Pilger: “Socialism for the rich, capitalism for the poor.” If capitalism is so damn good, then like somebody asked why does it get bailed out by socialism every decade or so?

  12. HENRY MAKOW
    ​Just when we think Henry Makow is back to talking sense hes back on the Hitler stuff.
    These people told the truth about Hitler
    Neville Chamberlian
    his secretary Archibald Maule Ramsey
    Prime Minister Harold Macmillan
    Oswald Mosely
    David Irving-The worlds top w w 2 expert
    Ernst Zundel
    Dr David Cohen
    Chris Cooper
    William Joyce
    Otto Khan
    Moishe Solomons
    Brian Cook and many many others.
    Hitler was nota Rothschild
    He was not a jew
    he did not declare war on Britain first
    He was not homosexual
    Tony Bair is not his son
    Angela Merkel is not his daughter
    Please Henry give it a rest, ad come back to writing about what you do best

  13. Michael McNulty: Please, do not make the mistake of comparing Jesus the Christ to socialism. It is the furthest thing from the truth. Jesus advocated to those who had more then they needed to freely give to those in need. Socialism takes from you without your consent and passes it on to those who might have a need and even to those who don’t. Socialism is nothing more then dressing a wolf in sheep’s clothing.