Name: CBDCs and the Coming Reset with Melissa Ciummei, Ep #35
Uploaded: 2023-08-04T15:30:23+00:00
Duration: 48 min 22 s
Description: Is the dollar going to spiral out of control before it fizzles out? Could Central Bank Digital Currencies (CBDCs) be the financial system of the not-too-distant future? What would be the long-term ram

10 months ago

Is the dollar going to spiral out of control before it fizzles out? Could Central Bank Digital Currencies (CBDCs) be the financial system of the not-too-distant future? What would be the long-term ramifications of CBDCs? Melissa Ciummei—an independent investor and researcher—joins me in this episode of Upthinking Finance™ to discuss the implications of CBDCs and the global move toward digitalization.

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LISTEN IF YOU ARE INTERESTED IN…

[00:00] CBDCs and the Coming Reset
[1:56] Central Bank Digital Currencies (CBDCs)
[6:00] The long-term ramifications of CBDC
[10:32] Who is controlling the CBDC?
[13:14] Are there obstacles to the central bank agenda?
[22:41] Is this takeover actually going to happen?
[35:48] What can we do to prevent a global currency takeover?
[39:17] How we can cultivate more awareness of what’s going on
[44:51] Where is God in all of this? How can we remain hopeful?

Why are Central Bank Digital Currencies (CBDCs) being introduced?

The Bank of International Settlements (BIS) was established in 1930 and is owned by 63 central banks representing countries from around the world. The mission of the BIS is to support central banks' pursuits of monetary and financial stability through international cooperation. They represent themselves as independent but Melissa believes that’s untrue.

Melissa points out that since 1971, when the US currency moved away from the gold standard, it has been a race to the bottom. Every fiat currency fails. Everyone returns to zero. She emphasizes that the dollar will be no different. To keep things going, a new currency is being proposed in the US: Central Bank Digital Currencies (CBDCs).

Melisa believes this currency is just a cover for a system where they can dictate where and when you transact within the economy. It’s a removal of freedoms. And when you don’t have the freedom to make your own transactions, every other freedom will fall away.

Melissa thinks that their only competition is the crypto market—and that it’s easy to weaponize taxation to crush crypto. They’re also starting to close the on-ramps onto the exchanges. What does that mean? To use crypto, you tend to have to convert it back to a fiat currency and buy what you need to buy.

If they close the off-ramps, your crypto is stuck as digital air, unless it’s being used as currency. Melissa believes that they don’t want to close the off-ramps because then people will be forced to use it as currency and it will become a threat.

Melissa and I take a deep-dive into the world of central banks, CBDC, digital identities, and the ramifications of it all in this episode. Give the whole thing a listen!

Melissa Ciummei is not affiliated with or endorsed by LPL Financial or Capital Investment Advisers.

Securities and Advisory services offered through LPL Financial. A registered investment advisor. Member FINRA & SIPC.

The financial professionals associated with LPL Financial may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.

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RESOURCES MENTIONED

The BIS: https://www.bis.org/
The IMF: https://www.imf.org/en/Home
The Better Way Conference: https://betterwayconference.org/
Russell Napier: https://russellnapier.co.uk/
WEF: Identity in a Digital World: https://www3.weforum.org/docs/WEF_INSIGHT_REPORT_Digital%20Identity.pdf

Note about the BIS: The content on that page is Established in 1930, the BIS is owned by 63 central banks, representing countries from around the world that together account for about 95% of world GDP. Its head office is in Basel, Switzerland and it has two representative offices: in Hong Kong SAR and in Mexico City, as well as Innovation Hub Centres around the world. They are not independent if they are owned by the global central bank system.