This week Australia’s living God made international headlines by declaring a research project into crypto currencies.
The Digital Finance Cooperative Research Centre (DFCRC) on a research project to explore use cases for a central bank digital currency (CBDC) in Australia.
https://www.rba.gov.au/media-releases/2022/mr-22-23.html
The RBA announce coincides with the announcement by the Senate Select Committee on Australia as a Technology and Financial Centre.
Australians need to ensure that the RBA and the Federal Parliament does not impose totalitarian control through the Central Bank Digital Currency. Australia is headed down a path with little democratic consent and there is a lot of uncertainty were public policy is going in Australia.
There is a possibility that CBDCs will improve economic life in Australia, but there is also a possibility that it may not. The RBA cannot be allowed to alter economic life in Australia without a democratic mandate.
The Prime Minister and Treasurer need to explain why CBDCs are being developed in Australia and what is the public policy case.
The Australian people must ensure that physical cash is never eliminated and that freedom and privacy remains the corner stone of Australia’s payment system and economic life.
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What is really required is a means of international exchange other than the US dollar that is manipulated by the FED for domestic political purposes, while it provides virtually unlimited spending power to the US Govt. Operating in conjunction with the control of the political system by moneyed elites, who pursue an agenda that is about control and subjugation, in defiance of science and logic (climate change nonsense/decarbonization) this is a threat to mankind.
Its producing an increasing disparity in the share of the proceeds of production which threatens consumption and therefore the urge to produce.
What the Chinese have is a very strong focus on production, infrastructure, the motivation to work long hours and above all a can do attitude.
Xi Jinping and many others in the hierarchy are trained engineers. How many engineers are there in the Federal parliament? I can remember a train driver. Perhaps that’s as close as we get.