Unelected bureaucrats in the European Union are advancing plans to replace physical money with a “digital Euro” to usher in “cashless societies.”
As Slay News has reported, globalists have been pushing for the introduction of central bank digital currencies (CBDCs) for some time.
The push is being championed by the World Economic Forum (WEF) with backing from the United Nations (UN), the World Bank, the International Monetary Fund (IMF), and globalist world leaders, including Democrat President Joe Biden.
However, as members of the WEF celebrate the push toward “cashless societies,” major concerns are being raised for the privacy and civil liberties of the general public.
The WEF, often described as an exclusive club of the world’s economic elites, has been heavily promoting CBDCs.
Klaus Schwab’s organization has been portraying digital cash as the next financial evolution.
As Slay News has reported, WEF members have been openly gloating that eliminating cash will give power elites “absolute control” over the global population through the use of digital money.
Under such plans, privacy, security, and freedoms are all at risk.
CBDCs are essentially digital versions of national currencies, touted to bring about an efficient, secure, and accessible monetary system.
Yet, the alarming aspect is the almost Orwellian control it could potentially hand over to central banks and governments.
With digital currencies in place, the authorities can peer into your financial transactions with microscopic precision.
By using CBDCs, governments and financial institutions will be able to track purchases globally and see exactly who’s buying what.
Government agents will theoretically have knowledge of every item purchased by people around the world.
Aside from surveillance, concerns are mounting about how much control over a person’s finances such the system would allow.
In the same way that Big Tech companies shut down the accounts of users who “violate” their policies, a person could, in theory, lose access to their own money due to their political views.
Maybe people would think twice about questioning climate change or vaccine mandates if it means they will be blocked from buying food for their families.
The WEF has also previously pushed plans to monitor individuals spending for “climate impact” and then punish those with a larger “carbon footprint” than the government allows.
The European Union (EU) is now moving to usher in its own CBDC for all member states.
The EU has just earmarked €1.3 billion toward its development in an effort to advance plans for a public rollout.
Meanwhile, the European Central Bank (ECB) is pushing forward with its plans, and much earlier than observers expected.
The plan is advancing so rapidly that the announcement is viewed by some as a surprise.
A total of five private sector partners will now receive huge contracts to support CBDCs.
In the past, Amazon was controversially involved in the e-commerce payments prototype.
How a company that flaunted EU’s own data protection rules and was fined $887 million as recently as 2021 found its way to becoming an EU “partner” on projects of this importance upset some members of the European Parliament.
Nevertheless, Amazon will likely be selected this time as well.
According to the ECB statement, the recipients of the money will be tasked not only with prototyping the CBDC, but also with developing a relevant app, offline payment schemes, and, “risk and fraud management.”
This latest “initiative” will receive €237 million.
The majority of the funds, €662 million, will go toward creating offline payments.
Despite the significant concerns about CBDCs, proponents appear convinced that the digital euro would improve the bloc’s financial infrastructure.
It also appears that the EU is seeking to profit from the rollout of “cashless societies.”
Etonec COO and Digital Euro Association chairman Jonas Gross thinks those most likely to get the contracts are “established CBDC tech providers with offline capabilities,” Big Tech, global financial consultancies, and, “smaller” (but also, “larger”) software firms.
Meanwhile, concerns about the global elite’s power grab and the security and freedom violations of the public appear to be getting lost in the debate.