It’s time to talk monetary harassment in the Oslo Freedom Forum. Bitcoin heavyweights Jeff Booth and Jimmy Song make an appearance and surprisingly, don’t even mention assets. However, bitcoin has always been present in the spirit. Because it fixes all the conditions they are mentioning. The other big topic of choice today is CBDCs. Are they ready for prime time? The answer might surprise you.
As a reminder, this is our seventh article in this series. If you like what you read, check out the others: One, Two, three, four, Five, six,
That being said, let’s get to the life-and-death information those other crypto sites don’t even consider.
BTC price chart for 13/07/2022 on Cexio | Source: BTC/USD on TradingView.com
Oslo Freedom Forum: Jeff Booth on Money Printing
Jeff Booth, author of “The Price of Tomorrow,” tells the Oslo Freedom Forum about the hidden tax evils we call inflation. People have no idea how much they are paying, and that is by design. If they found out how much of their time was stolen, there would be chaos on the streets.
“When you’re talking about inflation and everything else, just realize that if there’s no printing, what will happen to the market? And you realize, every single economic decision, every single one, who prints. And how much? Who steals your hard earned money? And if you have a system that looks like this, whether it’s automated in a central bank digital currency or not, what will it look like? Because you’re trying to keep prices up. Giving the power to supervise. While workers are being fired from the market. It doesn’t make any sense.”
His conclusion is that “it doesn’t make sense,” and this is true for each of us. On the other hand, for the people in charge, it’s all that matters in the world. This is how they control us.
20/Bitcoin author, developer and educator @jimmysong How oppression is deeply rooted in our current financial system: pic.twitter.com/IUsJCPtidM
— Alex Gladstein (@gladstein) 22 June 2022
Oslo Freedom Forum: Jimmy Song on Monetary Operations
Writer, podcaster and bitcoin developer Jimmy Song takes the baton from both and goes with it. He explains to the Oslo Freedom Forum how and why so-called First World countries control the rest of the planet through money.
“So when we’re talking about this system of people at the top being able to extract resources from people at the bottom, it’s on an international scale. There’s a reason for all these poor countries to stay poor. A big part of it Part is monetary oppression at the international level. Organizations like the IMF, the World Bank and even The Belt and Road Initiative with China. These are all systems of repression. You extract resources like this, how big countries from small countries And that’s what has happened. And it’s a part of this current financial system. So when we’re asking the question, is this current system sustainable? It really isn’t.”
Bitcoiners are highly suspicious of those organizations, but the general public is unaware of their dirty tactics. So much so, that they defend and celebrate the very institutions that are keeping them poor.
21/ Monetary Bases Analyst Matthew Messinskis (@crypto_voices) On the development of Central Bank Digital Currencies: pic.twitter.com/gXL3AGhsrT
— Alex Gladstein (@gladstein) 22 June 2022
Oslo Freedom Forum: Matthew Mezinskis on CBDC
Porcopolis Economics founder, Matthew Mezinskis explained the conflict of interest that the CBDC presented at the Oslo Freedom Forum. While they may be nice and convenient for central banks, CBDCs will kill the banking system as we know it.
“Every central bank knows this and every research paper on CBDCs says this. If we have a banking system that says “Oh, it’s cool to have a CBDC.” It works better than cash, it works better than my credit card And we start dismantling the banking system of deposits and people don’t keep deposits but they start keeping CBDCs with the central bank. It’s really the banking system. It’s terrible for profitability, and central banks are certainly socialists and they like bailouts, but they’re not communists like money.”
However, according to Mazinskis, banks and governments are working together to figure out the details of this new technology. If they want complete control, and they do, there are a few things they have to understand.
“They like to be there to protect the bankers. So they know that if you take out deposits from banks, and it only goes into the CBDC currency of the central bank, it can’t get a loan, it can’t lend it. Then it’s a problem for the banking system. So they’re trying to figure it out right now. The general solution is that there will be a limit for each CBDC account, maybe as high as $1000. They figure these things out. trying to set up.”
Which is the only country in the world that can currently implement CBDC? you guessed it…
“It’s going to be crappy. In my opinion, it’s going to take years and years and years. At this point in time the only country that has the ability to leapfrog against some of these problems is a communist country like China, which is very It’s big, it’s a juggernaut. And they’re already planning it. So it’s a big threat, so that’s the scenario of what’s happening with CBDCs right now.”
And that’s all for this edition of the Oslo Freedom Forum Minute. Join Bitcoinist next time for the eighth and final issue.
Featured Image: Song and Booth screenshot from this video | Charts by TradingView