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Some of the architects of the global reset are meeting next week to propose their initiative for a new economic world order. In tonight's In-Depth Report, Church Militant's Paul Murano considers the impact of the elites' desire for a centralized digital currency.
Joseph Brown, Heresy Financial: "The CBDC grants totalitarian control to anybody who wields it."
The 2022 World Economic Forum will commence next week in Davos, Switzerland. Elites will be promoting the idea of a central bank digital currency, or CBDC. This is intended to ignite a new world order bringing about a more just economy.
Becky Anderson, anchor, CNN: "Are we ready for a new world order?"
Proponents of CBDC say it increases so-called financial inclusion.
Rishi Sunak, British Parliament member, chancellor of the Exchequer: "A potential CBDC could offer businesses and consumers new ways to pay in the future."
It could give lower-income citizens without bank accounts easy access to Social Security payments, child tax credits and perhaps one day a guaranteed basic income — all this by a few taps on a cell phone.
Frederick Kempe, president and CEO, Atlantic Council: "Because of the advances of science, advances of technology, there could be one of the most prosperous, promising, progressive, enlightened, moderate, modern eras that we've ever faced."
On the other hand, critics have serious concerns CBDCs would enable government intrusion and lead to social credit scores, a system to coerce citizens into complying with government mandates. There could be a general absence of personal and financial privacy, they warn.
Xi Jinping, president, China: "It is my pleasure to this virtual session of the World Economic Forum."
One nation already implementing a CBDC trial period is communist China. It follows Bejing would implement a CBDC system to establish total surveillance and control over its citizens. But would the United States and Europe do the same?
Pippa Malmgren, economist and tech entrepreneur: "It's not about the United States vs. China. It's about what underpins a world order is always the financial system."
In an executive order March 9, unelected U.S. President Biden called for the federal government to look into establishing a CBDC for the United States, issued by the Federal Reserve.
Malmgren: "We are on the brink of dramatic change where we are about to, and I'll say this boldly: We're about to abandon the traditional system of money and accounting and introduce a new one."
Further, last year the director of fintech at the Bank of England, Tom Mutton, went so far as to say centralized digital currency could enable the British government to determine how citizens spend their money. The United Kingdom is currently developing a digital version of the pound.
Justin Trudeau, Prime Minister, Canada: "This pandemic has provided an opportunity for a reset."
History shows when elites assume economic control to implement an ideal for social equity, the results are never favorable.
It's important to global elites that the Great Reset include a centralized monetary system, for they're aware the economy is the lifeblood of any political body.