Central Bank Digital Currency
Pastor Leslie Chua
“Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name.”
Can you hear the hoofbeats of the four horsemen of the apocalypse? It is certainly getting louder. There is no doubt about it. Many biblical signs pointing to the return of Jesus are appearing conspicuously before our eyes.
Despite the proliferation of these signs, the interest in Christ’s return is surprisingly low. Many Christians are sleeping. No wonder Jesus said that His coming would be like a thief in the night. Many in the church will be caught by surprise and they will not be prepared to meet Him.
One of the most significant and obvious biblical signs of Christ’s return is the control of money and financial transactions.
In Revelation chapter 13, we are told that the Antichrist and his one-world government will introduce the 666-mark of the beast monetary system to control buying and selling. With this mark, the Antichrist will control the global economy through the international financial, banking, and trade systems.
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One of the most significant and obvious biblical signs of Christ’s return is the control of money and financial transactions.
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For several decades, there has been much speculation about the emergence of a cashless society. The advent of credit and debit cards fuelled speculation that the end of this present age is near. It was a step in that direction but not quite as yet. The plastic cards did not replace cash completely.
In recent years, we see the emergence of the concept of digital wallets. We use mobile devices to make purchases.
China is the first country to make the transition, and it does so seamlessly. The quick adoption of digital money by the Chinese took many observers by surprise. This digital phenomenon spreads rapidly. Now, digital payment is common in many advanced economies such as Singapore.
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A nationally owned digital currency is commonly known as Central Bank Digital Currency, or CBDC.
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The revolution of money continues with the invention and innovation of blockchain technology. In the last few years, cryptocurrencies, such as Bitcoin and Ethereum, become increasingly popular. These digital currencies fuel the imagination of many people. They see the possibility of delinking money and monetary transactions from the control of national central banks and global financial institutions. Understandably, the global elites and national governments are alarmed at the development.
To stave off the challenge posed by potential alternative monetary systems and the consequent loss of control, national governments began to explore developing their own digital currencies. A nationally owned digital currency is commonly known as Central Bank Digital Currency, or CBDC.
We are witnessing a flurry of announcements in 2022 concerning CBDCs.
China is the first off the blocks. China has been testing the digital yuan in a few selected cities. As of 19 September 2022, the beta version of the digital yuan was officially launched for iOS and Android in Chinese app stores. The app is freely available for anyone to download and use in 23 selected cities.
The United States announced earlier this year of its intention to roll out its digital dollar. In his first week in office, the new United Kingdom Prime Minister, Rishi Sunak, gave a briefing on the progress of the development of the U.K. CBDC. Sunak had been at the forefront of pushing for a British CBDC when he served as the Chancellor of Exchequer in the previous cabinet. The Eurogroup (an informal body that brings together ministers from the European Union to discuss matters related to the European currency) emphasised the importance of developing the digital euro. The Bank of International Settlements (the central bank of central banks) and the European Central Bank had openly stated their intention to replace cash with digital currencies.
Meanwhile, back home, the Monetary Authority of Singapore (MAS) announced on 31 October 2022 that it was also working on a purpose-bound digital Singapore dollar, or purpose-bound money (PBM).
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All these developments of digital wallets and CBDCs will bring many benefits to modern societies. Foremost is convenience and ease of financial transactions.
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With the complexity of global finance and the rapid advancement of digital technology, the development of CBDCs is inevitable. More sophisticated and efficient ways of managing financial transactions have to be developed. Therefore, it is not surprising that countries with technological capabilities are jumping on the bandwagon to develop their own CBDCs.
All these developments of digital wallets and CBDCs will bring many benefits to modern societies. Foremost is convenience and ease of financial transactions. There is no need to carry cash and credit cards. There is no need for cumbersome chequebooks.
Concerns about CBDCs
On the surface, all this may appear to be a natural and positive development. But there are implications that we should be concerned.
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In the hands of benevolent governments, this new monetary system has many benefits. However, in the hands of corrupt and tyrannical governments, these CBDCs can be easily turned into a tool for totalitarian control.
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Technology is neutral. But we need to ask some pertinent questions. Who are at the forefront driving this transformative shift and what are their motives?
These questions are necessary because the people and institutions at the helm of this new monetary system wield the power to control the lives of the populations. With the CBDC, the government can control how you spend your money. They can control all your buying and selling.
In the hands of benevolent governments, this new monetary system has many benefits. However, in the hands of corrupt and tyrannical governments, these CBDCs can be easily turned into a tool for totalitarian control.
Now, connect the dots to the 666-mark of the beast system. You can see how easily the Antichrist and his one-world government can make use of this new monetary system to exert tyrannical control over both nations and individuals. I believe we are moving toward this eventuality rapidly.
Recently, Dutch finance minister, Sigrid Kaag, proposed a bill that would require banks to monitor all payments above 100 euros and limit cash transactions to 3,000 euros. As you would expect, she is a strong proponent of the digital euro. Why would she want to monitor payments above100 euros? The reason can only be for the purpose of control.
Sigrid Kaag is a member of the World Economic Forum (WEF). The WEF has been at the forefront of proposing fundamental changes to reset the world and the existing global order in several areas ranging from finance to business, health, climate change, sexuality, etc. Many of the proposals are preposterous and tyrannical. If the WEF has its ways, we will see powers over the nations centred on a small group of global elites.
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I am watching the money revolution and the CBDCs with much suspicion. Let me repeat. Technology is neutral and technological developments are good. But in the hands of these global elites with suspicious motives, the world is quickly moving toward totalitarianism. A global government with an ironclad grip over international finance and banking is emerging soon.
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Clearly, the WEF is not working alone. It works closely with other global institutions such as the United Nations, World Bank, International Monetary Fund, World Health Organisation, etc.
Using many suspicious agendas, the global elites through these global institutions are taking control of the world. Can you see how a global government is coming together quickly?
This is why I am watching the money revolution and the CBDCs with much suspicion. Let me repeat. Technology is neutral and technological developments are good. But in the hands of these global elites with suspicious motives, the world is quickly moving toward totalitarianism. A global government with an ironclad grip over international finance and banking is emerging soon.
The Ways CBDCs Can be Used to Control People
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CBDCs are smart monies because they are programmable. While the government cannot restrict your usage of cash, they can easily do so with digital money. They can program it to put restrictions on your digital wallet and your spending. Essentially, it can be deployed as tool for control.
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In the hands of an authoritarian government, the CBDC can be used to enforce compliance with its agendas.
CBDCs are smart monies because they are programmable. While the government cannot restrict your usage of cash, they can easily do so with digital money. They can program it to put restrictions on your digital wallet and your spending. Essentially, it can be deployed as tool for control.
Here are a few examples of how CBDCs can be used to control individuals.
In the event of a pandemic, the government can use CBDC to enforce compliance. Say a lockdown is imposed and the citizens’ movement is restricted to one kilometre from their homes. If a person goes outside the one-kilometre range, his digital wallet can be shut down and he will not be able to pay for his petrol or make any purchase.
To encourage vaccination, the government can place many restrictions on the digital wallets of those who remain unvaccinated. Their lives will be inconvenienced and made miserable.
The tentacles of the climate change agenda have taken hold of the global financial and banking system. So, it is not surprising that CBDCs will be used to coerce citizens to comply with the green agenda.
To curb carbon emissions, restrictions will be placed on your digital wallet. You can only pump a certain amount of petrol and buy a limited amount of red meat. Through CBDCs, your consumption of goods and even services will be placed under digital surveillance and control.
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Our freedom and liberty are at stake. There is no escape. Biblical prophecies are clear that is how the last global empire at the end of this present age will control much of the world through the 666-mark of the beast global financial and banking system.
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If you protest, they will say that it is good for your health and the environment. In the name of saving the planet, the global elites will control the nations by controlling CBDCs through the international banking system.
The move toward a CBDC regime is inevitable. In and of itself, there is nothing wrong with it. However, a powerful monetary system like that will sooner or later fall into the hands of wicked despots. Actually, these power-hungry global elites already have plans to use it for global control.
Our freedom and liberty are at stake. There is no escape. Biblical prophecies are clear that is how the last global empire at the end of this present age will control much of the world through the 666-mark of the beast global financial and banking system.
But I have good news for you. Believe in Jesus and He will save you from this tyrannical monetary system of the New World Order. There is no escape except through Him. Jesus will come to rescue those who are His. His faithful followers will be raptured before the full impact of the mark of the beast kicks in.