SEC Officially APPROVES Bitcoin ETFs, The World Is EMBRACING Blockchain

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SEC has approved Bitcoin ETFs I believe more than just I think it’s crypto Market ETFs and there’s a lot of people who are concerned about a lot of people cheering it on but this brings us to uh the acceptance of the US government as it pertains to crypto and the fear that

They’re going to push Central Bank digital currency also known as cbdc could you explain to people what that is and your position on cbdc sure and and so let’s just take decentralized decentralized options in the blockchain like block like big coin or otherwise put that to one side I

Think greater decentralization at least has an option that’s available to hold the dollar to its feet as an alternative to opt out from that system as a good thing let me pause you real quick though sorry just there’s probably a lot of people who don’t know what Central Bank

Digital currency even so let me just let’s just so I was going to I was going to segregate the issue of Bitcoin and cryptocurrency away from the Central Bank digital currency which the easiest way to think about this would be turning your dollar into effectively a digital asset that’s centrally monitorable we

Could use you know talk about which way they would use the blockchain or not it doesn’t matter the simple way to think about it is take the cash in your pocket and convert that into the equivalent of like tokens you’d get in a digital video

Game and they can either up or down the number of points you have which are dollars in your bank account not based on how what you deposit or take in or take out but based on whatever the government actually decides is the criteria for increasing or decreasing what’s in your bank account indeed

They’re doing this China in fact that’s one of the principal Arguments for bringing it to the United States is that China is adopting a digital Yuan has a equivalent of a central bank digital currency in China now we have to ask ourselves why is China doing it the

General argument in the UK which is moving in this direction and the US which is taking the earliest of steps to move in this direction through the so-called fed now program the argument is we have to keep up technologically with China keep up with the Joneses or

Keep up with the Xin pings as the case may be here right you to ask yourself why is China doing it they want to actually be able to exert monitoring and control and discipline of their own citizens it’s the ultimate manifestation of a social credit system so that’s what

This is about in China now there’s a version of this it wasn’t exactly through a central bank digital currency per se but to at least understand the impact it could have on your life look at what they did to the Canadian truckers they cut off access to their

Bank accounts they cut off access to their Canadian dollars when they took a position against vaccine mandates and a position against lockdowns that they couldn’t address through any means other than through using the weaponization of the financial system to do it so if we bring that Central Bank digital currency

Of the United States it offers another tool for what would be otherwise a tyrannical permanent government to be able to more effectively Implement its will to be clear and some people fall into this trap of thinking that just because we eliminate the tool we’ve eliminated the intention no the

Intentions still exists but that doesn’t mean that you still give them the same tool that would allow them to more quickly imp what they already are looking to in other ways I’d like to uh elaborate on why this would be so nightmarish several year uh I mean we’re

Talking eight or so years ago 10 years ago we started seeing the rise of social media censorship if you tweeted something that was against the popular narrative you get you’d get suspended many of us were called conspiracy theorists for arguing what was actually happening in fact it was reported by I

Believe it was Gizmodo 1 in May of 2016 that Facebook had staff removing conservative newss Outlets from their trending tab that’s just your ability to speak I know one of the more serious things to be able to to to lose to not be able to engage in the public sphere imagine the

Same scale of censorship but in terms of you buying milk bread and eggs yes one day you wake up and you go to the grocery store and you’re using your app because that’s what the Central Bank digital currency will be forced to be on your phone and you’ll walk up you’ll put

Your milk on the self checkout because there’s no humans anymore you’ll scan your phone and it’ll say you have been banned from purchasing for 24 hours due to hate speech or docked a certain number of dollars by the way just going back to just bringing up Co and the

Things that we saw throughout Co that was one of my major concerns that I spoke about uh just the digitization of everything that was happening at that time suddenly like they were trying to say your menus could have potentially have covid they kept saying that dollar

Bills this was do you remember this in the news dollar bills could spread covid and suddenly they didn’t want any more dollar bills we’re no longer accepting cash was so many restaurants uh grocery stores no long cash because you could potentially spread covid which was an absurdity in my mind an absolute

Absurdity but a lot of these things are now long lasting right in terms of the fact that there’s not that many human beings I don’t know if it’s the same where you live but not many human beings at the grocery store anymore they kept up the things after Co that they said

Were just for covid and I felt that it was very much because they did want us to move in this direction as Society well you can see in lasas potentially to prep us for this and I just want to play that one step forward to tie earlier to

One of uh an increasingly what looks like a republican policy uh certainly of a certain candidate of tying your government issued ID to your internet account or your social media account so now combine that with the Central Bank digital currency now you don’t have to tie it just milk in the grocery store

Every time you hit like on a tweet that does not match the regime’s approved narrative we could dock you 50 cents if youit retweet you actually dock you a dollar and so Jack Smith I just want to tie this together right right now in The subpoena for one of the federal cases

Against Donald Trump there’s so many of the you lose track but it’s one of the Jackson Smith Federal prosecutions in that subpoena I think it’s worth people understanding it certainly affects people who are watching us right now might affect some of us in this room maybe some of us at

This table I don’t know not me because I wasn’t using Twitter back then but if you retweeted or liked one of Donald Trump’s posts in that year that’s now the subject of Jack Smith’s subpoena so let’s play that forward that that your your username or whatever has already been the subject of

That subpoena now say that that handle was tied to your government issued ID which is also tied to your digital dollar he can’t convict you in court necessarily but why don’t we give them a nice little spanking take a few dollars out of their bank account that’s

Literally where this vision of the the so-called great reset that’s where this land that would be a coup that would be something that would be an attempted coup by global enforcement Powers uh that we cannot allow to happen they can already freeze your bank accounts when you’re under investigation say you

Worked for a company and then all of a sudden one day you can’t buy things but with the Central Bank digital currency it goes so far beyond that we’re going social credit system but it’s automated yeah it’s to where it won’t even be a judge saying I think

There’s probable cause to freeze his account it’s going to be a machine saying your account is frozen and good luck imagine having to go to the DMV every time you needed to get your bank unbanned and this is the I tell me if this is like too abstract and we can

Sort of bring it back but it’s a pattern that repeats itself in so many different places where right now you’re right they can freeze your your bank account even as it exists today but it takes something that requires the government to take a Quantum step right you have to

Have a preponderance of evidence that’s 50.1 to con percent chance of actually having done it and then to actually convict somebody you have to be Beyond a reasonable doubt that’s 99.999% 100% certainty so you have to take these Quantum steps of certainty what the Central Bank digital currency does is it

Takes this system that ties a Quantum level of certainty and just makes it continuously varying right right so it’s not like Jack Smith is going to say that he’s going to wipe out your entire bank account and freeze your entire bank account the way this would work is I’m

Just going to dock You by 50 Cents like I think that’s actually the thing to see is it wouldn’t be if we were using the analogy Tim I think it would be less that we’re not going to allow you to buy the milk at all it’s going to be that

Instead of having $100 you now have 99 so it’s designed to change behaviors at the margin and that’s really where this is different from the current status quo where they technically could also freeze your bank account entirely couldn’t Buy bu any milk it’s not that it’s that you

Like to post we didn’t quite like we see that because of your government issued ID tied to your social media profile it’s not like we need to go to the court system for that it’s not like you’ve done something criminal but we’re just going to dock you a little bit with a

Little so-called nudge in the right direction that’s actually what’s actually far more frightening but with the cbdc there’s so much more here too we can’t even begin to imagine how about geol loocking transactions meaning let’s say there is a a political rally happening in DC and the President says

We’re going to have a rally so then anybody who attends that rally their their their their ability to transact is shut off within 50 miles and just these individuals all of a sudden you can’t buy train tickets you can’t buy milk you can’t buy pizza you can’t go to the you

Can’t go to McDonald’s to buy food and for anybody who thinks it’s a ridiculous example I I believe it’s Bank of America that handed over records for anybody who was in Washington DC on January 6 2021 to Jack Smith which is exactly not that far from what you’re describing today so

But I think it’s worth I think for the people there’s a lot L people in New Hampshire that fit this category when I’m campaigning there who come up and ask like this will be the first question they ask at a town hall is like tell me about your position on

Cbdc I I share why I think it’s a risk but I think it’s important not to fall in the Trap of thinking just because we’ve stopped that you still have a government that can do a lot of these things to you it’s just that it becomes

A lot easier for the government to do these things to you when they can do it in small increments rather than Bank of America having to hand it over to a prosecutor who needed to go through probable cause a lot of this can just be

Done much more easily so even as we put the kabash on the cbdc and I will and that’s easy it’s just simple executive action this is never going to happen in the United States I’ll get that done in January of 2025 a year from now we’re

Good it’s still just you know it’s like a water balloon it’s like a hydraulic pump system you squeeze it here it’s it’s going to show up somewhere else and so we’re always kind of one step behind and the reason people don’t pay attention ESG cbdc whatever is the more

You acronym eyesee it the more boring you make it the less likely you are to the people are to pay attention to it thanks for watching this clip from the timcast IRL podcast hang out with us live Monday through Friday at 8:00 P.M and become a member over at timcast.net