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Banking Fears Lead to Concerns of a CBDC and the Petroyuan
How the Silicon Valley Bank Failure May Have Set Up the Right Conditions for New Economic Systems
After Silicon Valley Bank, which was the sixteenth largest bank in the United States, crashed and was taken over by the Federal Deposit Insurance Corporation (FDIC), a seeming chain reaction of bank failures began, leading to rumors of bank runs. Then, Silvergate Bank and Signature Bank followed suit, with the Swiss UBS acquiring the failing Credit Suisse (bringing up concerns of a global panic). However, the completely honest and forthcoming President Joe Biden assured us that the “banking system is safe,” followed up by Federal Reserve Chairman Jerome Powell’s “sound and resilient” language (Powell was chosen by President Donald Trump and allowed to stay in the Biden administration, showing that there is a collaboration between banking interests and the federal government, regardless of which party is in power). Of course, officials’ reassurances should put our fears to rest, being that the Biden administration, and particularly Treasury Secretary Janet Yellen, had said that inflation was “transitory” back in 2021. Yet, here we are under the same inflationary pressures as then.
What has been the solution to the banking crisis that we now face, besides the federal government acquiring the assets of Silicon Valley and redistributing them to First Citizens Bank? Powell and his never-audited Federal Reserve (should not the central banking system of the United States be held accountable by legislators, and ultimately, the people?) have announced a prolongation of the increasing of interest rates in an attempt to counter years of irresponsible spending and money creation, particularly during the Covid-19 pandemic. Some economists warn that continuing on this path could spark the recession that many have feared for quite some time or make the banking crisis worse, but what if crashing the economy and unfavorable banks is actually the desired outcome? Is it possible that the crash of Silicon Valley and Signature, both of which had large dealings in the cryptocurrency market, was manipulated as a means to pave the way for an American central bank digital currency (CBDC), which could more easily operate after private market rivals to a digital dollar are wiped out?
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It may seem farfetched to suggest that the second largest banking failure in American history is moving us closer to a CBDC, but consider that the Biden administration has already announced his intentions to regulate the decentralized cryptocurrencies (the whole point of cryptocurrency is to have financial freedom away from such regulation) and to create a digital dollar. The bank failures may give the federal government the crisis that it needs to implement such a system, but even if not, the New York Federal Reserve Bank (a private bank that is allowed to manipulate the federal currency) already partnered with Citigroup Inc, HSBC Holdings Plc, Mastercard Inc, Wells Fargo & Co, and others to pilot a CDBD program (called the “regulated liability network”) that would use a digital dollar.
Perhaps to mock Independence Day and the celebration of freedom, the Federal Reserve announced that its new FedNow program will be made available in July. Officially, this is being hailed as an updated wiring system that will speed up transactions and allow users to access their funds much quicker (instant service at any time or day), and although this is not quite a CBDC, it does set up the framework for a future digital dollar by having as many transactions as possible fixed and controlled under the same roof. In fact, some suggest that FedNow is a replacement for a CBDC or a temporary fix until one can be developed, and it is already being considered a public rival to the deregulated and decentralized cryptocurrency market. If every financial institution moves over to this new centralized system, it will mean less privacy for Americans in their ability to buy or sell in the market, and Americans seem willing to exchange financial freedom for the convenience of having their money instantly. With every transaction under the watchful eye of the federal government, say good bye to under-the-table jobs, unless you want to barter for non-money items.
In addition to the experimentation with a CBDC in the United States, 114 countries are currently implementing or considering such a system, with about sixty-five of them in the research or development phase and roughly eighteen in active pilot programs. A handful of them, including China, India, Nigeria, and the Bahamas, have begun the implementation process, and it appears that this is a global phenomenon, and perhaps a conspiracy by most of the world’s nations to move people toward a global totalitarian economic system. If we look at how the CBDC has been rolled out in Nigeria, for example, we can see insights into what is to come in the United States.
In adopting the eNaira, the central bank in Nigeria sweetened the deal by offering financial incentives to get people to become compliant; and despite numerous protests by the average people who are not ready for such a system, the government has restricted credit card transactions, limited cash withdrawals, worked to eliminate cash altogether (the people are still dependent on it), and caused out-of-control inflation. With a case study showing how CBDCs harm the average person and cause the loss of financial freedom and privacy, as well as the example of how Canadian Prime Minister Justin Trudeau and Financial Minister Chrystia Freeland froze the assets of the Freedom Convoy protesters and those donating to the cause; it should not be difficult to see how a digital dollar could be weaponized against dissenters in the American economy.
We already saw people who opposed the federal and state governments’ Covid-19 mandates and the corporate media’s narratives discredited, unemployed, and stripped of their expert status (see the Twitter Files) for simply speaking out or refusing to comply; and a CBDC would give the federal government the complete ability to utilize its digital dollar to control and monitor every single transaction. Those who do not obey the orders of authority or believe the official narrative may lose their ability to buy or sell (like in the Book of Revelation), and this framework is currently being developed. Look at the willingness of people to accept that the government could force people who did not receive the jab out of their jobs. This authoritarian mindset is growing in the United States, and to think that the government would not freeze the accounts of people spreading unfavorable narratives (again, see the Twitter Files and the Canadian protests) is naïve (do you think that we the people would get the opportunity to freeze the government’s spending or taxing abilities when it spreads disinformation itself?). Good luck trying to feed your family or provide them with shelter when you no longer have access to your accounts, and this will make people less likely to protest the government or speak out against tyranny, just like the government would prefer.
Creating a CBDC that would give the government and its partner corporations control over people’s lives in a totalitarian nightmare is only one aspect of what is happening with the current banking crisis; and the central banks of Canada, Japan, England, Switzerland, the European Union, and the United States made swap line deals to flood the global market with U.S. dollars, all in an effort to combat the uncertainty in banking. However, is the U.S. dollar on its way out as the reserve currency of the world? To answer this, we must first look at the vital role of Saudi Arabia in agreeing to use the American dollar as the preferred currency of exchange for oil, which is referred to as the “petrodollar.” This came with 1970s assurances that the United States would bail out the economically struggling kingdom and provide security across the Middle East, and in exchange, the United States would be able to dominate the world with its economic system, just like the British Empire had done in the nineteenth century into the early twentieth century.
In recent years, the Chinese yuan has been making a strong appearance around the world, and after the attempt by the United States government to bully Russia with economic sanctions, China and India began picking up the loss of oil sales (and Russia began pegging its currency to the more stable gold). After the recent meeting between Russia’s Vladimir Putin and China’s Xi Jinping, there can be no mistake that the two countries are allies in an attempt to end the monopolar world order currently dominated by the United States and its military and economic power (most who were paying attention saw the relationship developing a long time ago). In addition to the Siberia 2 pipeline between Russia and China that would replace the Nord Stream 2 pipeline, which was ended by the Biden administration’s threats to Germany and physical damage in some explosions; the world is now turning to the petroyuan. Countries that are seen as potentially adopting the new currency include: Turkey, Argentina, Indonesia, Egypt, Saudi Arabia, Venezuela, Iran, and the BRICS nations of Brazil, Russia, India, China, and South Africa.
Wait! Saudi Arabia is potentially moving toward shifting the status of the reserve currency to China? Well, China and Saudi Arabia already have a huge trade relationship, which includes several new investment agreements, and has been considering setting a portion of its oil sales in the yuan. Since Saudi Arabia is key to keeping the dollar as the reserve currency, this could spell trouble for American imperialism.
In fact, China brokered a deal between Saudi Arabia and Iran (currently in a state of war with each other over Yemen and other issues), meaning that diplomacy may take root in the embassies that will be reopened as a result of the meeting; and the United States was not asked to join or considered in the talks, showing that China is a growing power on the world stage. Of course, this new deal is being viewed by war hawks in the United States as an undermining of Israel’s dominance and President Trump’s Abraham Accords between Israel, the United Arab Emirates, and Bahrain. It seems that even the Biden administration wants to keep the tensions hot with Iran and not actually reinstate the Obama-era agreement that Trump withdrew from.
If Saudi Arabia decides to ditch the petrodollar for the petroyuan, it would mean that a new multipolar world is being born, and the United States would no longer remain as the sole economic and military superpower that it currently is. The new Russia-China-BRICS axis will be strong enough to challenge the hegemony and actions of the United States-EU-NATO-AUKUS alliance in what could be a showdown of world war proportions. If you think that the United States government will peacefully allow its status of sole superpower to be stripped away, think again.
The failure of Silicon Valley Bank may have triggered the beginning of a new age of digital currencies and a new economic order across the planet, and we can be sure that none of the solutions or results of this crisis will benefit the average citizen of any country. In fact, the citizens of the United States and Russia and China, or any other nation, have more in common with each other than they do with the governments and corporations that supposedly have their best interests in mind. Although we can only fight the machine that is in our own backyard, it does not appear that Americans are willing to see the dangers of CBDCs and the growing tensions throughout the world. Most will continue to obsess over their favorite sports team or watch reality television, instead of watching the geopolitical drama that is unfolding in real time. Will the United States soon develop a centralized and totalitarian system of control over our finances? Shush, there is about to be a deal to trade my favorite player. The trading of the petrodollar for the petroyuan that could bring about World War III is just boring economic talk.
Thank you for reading, and please check out my book, The Global Bully, and website.
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