The head of the European Central Bank has announced that the “Digital Euro” is now being prepared for implementation to replace traditional cash.
The president of the European Union’s Central Bank, Christine Lagarde, revealed that the bloc’s “digital cash” is now in “the preparation phase.”
According to Lagarde, the EU will soon begin to roll out the “digital Euro” for public use.
Lagarde claims that Eurocrats are pushing the technology because it’s “safe” and “easy to use.”
The euro is key to our European unity. A digital euro, existing alongside cash, would future-proof our currency. It would be safe, easy to use and free of charge.
While the decision whether to issue a digital euro will be taken later, we’re now launching the preparation phase. pic.twitter.com/fs81p7otVW
— Christine Lagarde (@Lagarde) October 19, 2023
However, experts are warning that central bank digital currencies (CBDCs) will have devastating economic and social consequences.
According to top economist Peter Koenig:
“The universal drive towards central bank digital currencies, emanates most likely from the Bank for International Settlements (BIS), the Central Bank of all central banks, controlling at least 90% of central banks around the globe, and the BIS, itself, being controlled by the Rothschild family.
“As we see, all is in best-intended private hands, perfectly aligned with the fraudulently established 1913 Federal Reserve Act – that has allowed the US Federal Reserve –which is controlled by a handful of Wall Street Banks– to create a US dollar hegemony around the world.”
The head of the Bank for International Settlements (BIS) is Agustín Carstens, a member of the globalist World Economic Forum (WEF).
As Slay News has previously reported, Carstens has openly gloated about how digital cash will give governments, unelected bureaucrats, and corporate elites “absolute control” over humanity.
“We don’t know who’s using a $100 bill today and we don’t know who’s using a 1,000 peso bill today,” the Mexican moneyman said, bemoaning the anonymity of cash.
“The key difference with the CBDC is the central bank will have absolute control on the rules and regulations that will determine the use of that expression of central bank liability,” Carstens said.
“And also we will have the technology to enforce that,” he added.
Meanwhile, Republicans in U.S. Congress are moving to block Democrat President Joe Biden and his administration from rolling out a “digital dollar” to replace physical cash across America.
The Biden admin has been working on implementing a Central Bank Digital Currency (CBDC).
The centralized digital currencies are designed to replace traditional cash but are engineered to have in-built control mechanisms.
A key part of the CBDC agenda is to create so-called “cashless societies” that would governments and bureaucratic agencies greater control over the general public.
As architects of the plan have gloated, CBDCs allow for individuals’ spending to be tracked, monitored, and controlled.
Those whose spending habits indicate that they have a large “carbon footprint,” for example, could be punished.
In a more extreme example, those found to engage in “hate speech,” i.e. “misgendering” someone on social media, could have their funds restricted, denying their ability to buy food in their “cashless society.”
As one WEF speaker recently boasted, CBDCs could be used to control what people can buy by placing blocks on “less desirable items” such as “ammunition” and guns, essentially subverting the U.S. Constitution.
In September, the Central Bank Digital Currency Anti-Surveillance State Act resurfaced.
The legislation was introduced by House Majority Whip Tom Emmer (R-MN),
The bill seeks to stop the Federal Reserve’s exploration of a digital version of the dollar.
“The administration has made it clear: President Biden is willing to compromise the American people’s right to financial privacy for a surveillance-style CBDC,” Emmer said.
“That’s why I’m reintroducing my landmark legislation to put a check on unelected bureaucrats and ensure the United States’ digital currency policy upholds our values of privacy, individual sovereignty, and free-market competitiveness.
“If not designed to be open, permissionless, and private – emulating cash – a government-issued CBDC is nothing more than a CCP-style surveillance tool that would be used to undermine the American way of life.”