[they] don't care about solving OUR problems. [they] only care about cementing [their] power and grip on society. The CBDC allows for near total domination, especially once you consider the coming social credit system. Once those two are fully in place, the real fun begins.
They can enact negative interest rates so you will be punished for trying to save your money and be forced to spend immediately after a paycheck.
This allows them to kick the can down the road will still wildly spending like they do right now. They will also have complete control over everything you buy, where you buy it, how much you have, so they can start to slowly starve off the dissenters.
Why would CBDC be required to enact negative interest rates when several countries around the world have already historically had negative interest rates without using CBDC?
Several countries around the world have done it but it doesn't lock those citizens in place.
A US CBDC would be cashless. Meaning no way to cash out of the bank, you're stuck eating a shit sandwich.
Those other European countries were trial runs to test the waters on the most docile. They also had a way to cash out of their bank and move money elsewhere.
I think she means that the coming crash will be leveraged to bring about the transition to CBDC - using it as an excuse, so to speak..."never let a good crisis go to waste".
This is what they have wanted for awhile - it gives them total control over our lives.
Ah, that makes sense. But even still... they have to have a functioning system, and this interest rate debacle and the trillions tied to it seem to be a problem for them, even if they harness the people with a digital currency.
Yeah I agree... I think they are intentionally destroying the old functioning system on purpose, perhaps to wipe out the balance sheet and start fresh with the CBDC... feigning ignorance...but this is pure speculation of course.
It will not solve the problem but when the monetary system collapses and everyone in their bank loses their money, the CBDC will be designed to satiate their losses.
CBDC will instead lock in their compliance.
Remember their end goal is the CBDC for more control. They have to figure out how to get people to swallow the bitter pill.
If people lose their entire retirement and life savings, they may be more willing to take the CBDC poison.
Their system's problems are. ..them. No system is perfect, but Ill let the money wonks go over the specific pros and cons of any particular system. Just note that even a fiat system left to its own devices and the general capitalist market will find a state that functions well for the system.
They create laws that manipulate the system for their own gain and then snap the rubber band when its most advantageous to their power or money plays.
The boom and bust roller coaster with ever heightening busts is by design so that they can put their next level of control on you. They are still in charge when its over (more so!) and they still control the government workers, so who really suffers?
Only us. The Theys get what they want and walk away without a scratch.
It won't be fixed but they'll have complete control to keep kicking the can down the road.
They want CBDCs to enact negative interests rates. That way you can't cash out of the system or be able to save, you'll have to spend immediately.
With CBDCs, they can further conceal all purchases they makewhole seeing everything you purchase, program how much money you can have, where you can spend it, what you can spend it on, etc.
In order for them to kick the can down the road while still spending like they do, they'll have to starve the public with negative interest rates and take complete control over all of our finances.
Just to be sure, I'd recommend to get some of your savings outside of the US monetary system into gold/silver/certain cryptocurrencies.
For cryptocurrencies, I'd recommend do your research on what you think has
the best foundation to take on 1 Billion+ people using it everyday
doesn't have a history of hacks and has is setup in a way to stop hacks
is consistently developing, and is bringing on projects that follow regulations in certain countries (but isn't forced on the rest of the blockchain network).
I'm looking at Bitcoin and Cardano as these are the ones that fit those tickers most of all.
I also dabble in Ergo as well but that is more speculative and less stable.
In the end, the public decides what is valuable. Not a select group of people. What you demand is what you vote for.
I remember something similar to the libor scandal involving Robert Kraft and the milk industry. Basically extra truckloads of milk are sold off at reduced prices to other processors. They colluded with each other to fake a market excess and sell these reduced price loads back and forth causing the actual price paid to farmers to drop. In the end there was a lawsuit and the farmers were paid like 3 cents on the dollar for this
As I said in the other similar post to this, I believe most of the contracts have already been transitioned to SOFR for USD and ESTR for EUR. It was done months ago. Actually, now that I think of it, it might have been Dec 2021 that it was done. At first was thinking it was this past December but I think it was the December before that. Some explanation of the change:
I will look more into that, thanks. However, there is not a public place I know of where I can look at how many contracts still have to switch over to SOFR.
EDIT: So from your link they are stating Dec-2021 was the date where everything LIBOR was originally supposed to flip to SOFR (which is true) but that got postponed to June 30, 2023. This article you posted was from October 19, 2019 which is pretty outdated as of now, a lot of things have happened in this space since then.
I believe most of the change over did happen in Dec 2021, as I was writing some of the code for that. If I had to guess I would say this is a nothing-burger, like y2k.
No, I don't have any documents I can point you to about other conversions. The conversions I did was for corporate credit - single name cds's, indexes, index tranche, etc.
I gotcha. Well from what I'm seeing the biggest problem has to do with the CLOs.
Anyways if you can find any more information please share it here or tag me in the coming days/weeks. I'm trying to read and learn everything I can about it.
Anything not converted is probably because the sheer entrenchment of libor throughout the code as opposed to any nefarious reasons. There's probably a ton of old code that needs to be changed.
The ISDA-Clarus RFR Adoption Indicator tracks how much global derivatives trading activity is conducted that reference the identified risk-free rates (RFRs) (OE on US called is called SOFR) in six major currencies.
Monthly Reports
February 2023
About 50% of Derivatives volume is traded with SOFR change rather than LIBOR
This is a thesis not a post. Thanks! Lots of homework here. I like Tom Luongo's analysis.
Amazing post and info. Thanks!
Question... in your last sentence before the resources you state that what comes next is a transition to CBDC.
How do they think that a digital currency going to solve their problem?
[they] don't care about solving OUR problems. [they] only care about cementing [their] power and grip on society. The CBDC allows for near total domination, especially once you consider the coming social credit system. Once those two are fully in place, the real fun begins.
Right... but what I meant is that their system is breaking... so how will switching to a digital currency help them with their broken system?
They can enact negative interest rates so you will be punished for trying to save your money and be forced to spend immediately after a paycheck.
This allows them to kick the can down the road will still wildly spending like they do right now. They will also have complete control over everything you buy, where you buy it, how much you have, so they can start to slowly starve off the dissenters.
Great work on the post shout out to you and ashland
Why would CBDC be required to enact negative interest rates when several countries around the world have already historically had negative interest rates without using CBDC?
Several countries around the world have done it but it doesn't lock those citizens in place.
A US CBDC would be cashless. Meaning no way to cash out of the bank, you're stuck eating a shit sandwich.
Those other European countries were trial runs to test the waters on the most docile. They also had a way to cash out of their bank and move money elsewhere.
I think she means that the coming crash will be leveraged to bring about the transition to CBDC - using it as an excuse, so to speak..."never let a good crisis go to waste". This is what they have wanted for awhile - it gives them total control over our lives.
Ah, that makes sense. But even still... they have to have a functioning system, and this interest rate debacle and the trillions tied to it seem to be a problem for them, even if they harness the people with a digital currency.
Yeah I agree... I think they are intentionally destroying the old functioning system on purpose, perhaps to wipe out the balance sheet and start fresh with the CBDC... feigning ignorance...but this is pure speculation of course.
It's not. That's why Signature was taken down. Signature was friendly towards Digital currencies... and Central Banks didn't like that...
Digital currencies or cryptocurrencies? There's a difference. One is secured by the blockchain, the other by your trust in the Central Bank.
I believe crypto. I'm going to have to verify, but I believe it's crypto and the big evil ones wanted them shut down for it.
So this is a BH nedeavor (or, cabal)?
From what I've read and seen, I believe so..
A micro BH move within a WH macro plot, I hope. I.e.. The Plan
Keep the faith! Trust the plan!!! 😎😎🇺🇲🇺🇲
Absolutely!
It will not solve the problem but when the monetary system collapses and everyone in their bank loses their money, the CBDC will be designed to satiate their losses.
CBDC will instead lock in their compliance.
Remember their end goal is the CBDC for more control. They have to figure out how to get people to swallow the bitter pill.
If people lose their entire retirement and life savings, they may be more willing to take the CBDC poison.
That make sense, too. But again, their system won't be fixed by switching to a digital currency. Or am I just not understanding something?
Their system's problems are. ..them. No system is perfect, but Ill let the money wonks go over the specific pros and cons of any particular system. Just note that even a fiat system left to its own devices and the general capitalist market will find a state that functions well for the system.
They create laws that manipulate the system for their own gain and then snap the rubber band when its most advantageous to their power or money plays.
The boom and bust roller coaster with ever heightening busts is by design so that they can put their next level of control on you. They are still in charge when its over (more so!) and they still control the government workers, so who really suffers?
Only us. The Theys get what they want and walk away without a scratch.
That makes a lot of sense. Thanks for explaining!
It won't be fixed but they'll have complete control to keep kicking the can down the road.
They want CBDCs to enact negative interests rates. That way you can't cash out of the system or be able to save, you'll have to spend immediately.
With CBDCs, they can further conceal all purchases they makewhole seeing everything you purchase, program how much money you can have, where you can spend it, what you can spend it on, etc.
In order for them to kick the can down the road while still spending like they do, they'll have to starve the public with negative interest rates and take complete control over all of our finances.
Well, time for WH's to punch it over the goal line and win.
Lol they will try
CBDC is a fantasy of the bad guys, let's all pray it doesn't happen.
Just to be sure, I'd recommend to get some of your savings outside of the US monetary system into gold/silver/certain cryptocurrencies.
For cryptocurrencies, I'd recommend do your research on what you think has
the best foundation to take on 1 Billion+ people using it everyday
doesn't have a history of hacks and has is setup in a way to stop hacks
is consistently developing, and is bringing on projects that follow regulations in certain countries (but isn't forced on the rest of the blockchain network).
I'm looking at Bitcoin and Cardano as these are the ones that fit those tickers most of all.
I also dabble in Ergo as well but that is more speculative and less stable.
In the end, the public decides what is valuable. Not a select group of people. What you demand is what you vote for.
Holy crap this post is huge. I read about half.
Great post, thanks.
I remember something similar to the libor scandal involving Robert Kraft and the milk industry. Basically extra truckloads of milk are sold off at reduced prices to other processors. They colluded with each other to fake a market excess and sell these reduced price loads back and forth causing the actual price paid to farmers to drop. In the end there was a lawsuit and the farmers were paid like 3 cents on the dollar for this
There is a time and season for everything... including flipping tables
https://youtu.be/asn-lCAcqoY
This scene is legit! Thank you for sharing it.
Ah man what happened here?
As I said in the other similar post to this, I believe most of the contracts have already been transitioned to SOFR for USD and ESTR for EUR. It was done months ago. Actually, now that I think of it, it might have been Dec 2021 that it was done. At first was thinking it was this past December but I think it was the December before that. Some explanation of the change:
https://www.morganstanley.com/ideas/libor-its-end-transition-to-sofr/
I will look more into that, thanks. However, there is not a public place I know of where I can look at how many contracts still have to switch over to SOFR.
EDIT: So from your link they are stating Dec-2021 was the date where everything LIBOR was originally supposed to flip to SOFR (which is true) but that got postponed to June 30, 2023. This article you posted was from October 19, 2019 which is pretty outdated as of now, a lot of things have happened in this space since then.
I believe most of the change over did happen in Dec 2021, as I was writing some of the code for that. If I had to guess I would say this is a nothing-burger, like y2k.
Could you pull up some sources confirming that?
Also do you know what area of finance you were writing the code for? Like mortgage, student loans, etc.
No, I don't have any documents I can point you to about other conversions. The conversions I did was for corporate credit - single name cds's, indexes, index tranche, etc.
I gotcha. Well from what I'm seeing the biggest problem has to do with the CLOs.
Anyways if you can find any more information please share it here or tag me in the coming days/weeks. I'm trying to read and learn everything I can about it.
You may also see what you find at isda.org. For instance:
https://www.isda.org/2022/05/16/benchmark-reform-and-transition-from-libor/
Anything not converted is probably because the sheer entrenchment of libor throughout the code as opposed to any nefarious reasons. There's probably a ton of old code that needs to be changed.
So if I'm not mistaken, on your link
The ISDA-Clarus RFR Adoption Indicator tracks how much global derivatives trading activity is conducted that reference the identified risk-free rates (RFRs) (OE on US called is called SOFR) in six major currencies.
Monthly Reports
February 2023
About 50% of Derivatives volume is traded with SOFR change rather than LIBOR
https://www.isda.org/a/aaJgE/ISDA-Clarus-RFR-Adoption-Indicator-February-2023.pdf
Page 2 of the Whitepaper says USD RFR is SOFR
Thanks! I'm going to be looking this over!