Posted by Richard Willett - Memes and headline comments by David Icke Posted on 16 February 2024

The “National Conversation about the Future of Money” Has One Permitted Outcome: the Digital Pound

If you asked the man on the street whether he thinks we should have a “national conversation about the future of money”, he would probably say something like: “Yes, we need to talk about how we can have more of it.”

The Bank of England, however, has a different discussion in mind. It seems to be growing ever fonder of the idea that we should have this ‘national conversation’. But what it wants to talk about is not increasing wealth; it is “the future of payments” (code for introducing a Central Bank Digital Currency or CBDC, the ‘digital pound’). The Bank of England, you see, lives in a rather different country to the rest of us – one in which the pressing economic problems we face are not to do with inflation, interest rates, quantitative easing or overleveraging, but to do with how we pay for things. In the version of Britain which it inhabits, we have the national bandwidth to devote major resources to the designing of a “future payments ecosystem” so that the U.K. can “remain at the forefront of payments technology”, and we also need to do this as a matter of urgency.

This is the conclusion of a recent paper published by the Bank, along with HM Treasury, responding to some 50,000 communications it received after putting out a consultation document on the ‘digital pound’ in February last year. The words “national conversation” appear in it 13 times. We are left in no doubt that this “conversation” is taking place. And the “conversation” mostly seems to be happening with regard to two themes. The first is how we can “help deliver the next generation of world-class retail payments” (to repeat: this is code for introducing a digital pound). And the second is risk: the word “risk” appears 37 times in the document, and refers typically to the “risk” that money will cease to be uniform if unregulated digital currencies take off – although, paradoxically, “risks to competition” also seems to be a topic of great import within this “national conversation” that we are apparently all having.

More on risk in a moment. Let’s deal first with the ‘need’ for this much-vaunted national conversation in respect of “world-class retail payments”.

Indulge me for a moment while I tell you a little story. I used to work in an office in which we all had printers next to our desks. We liked this; our jobs involved doing an awful lot of reading, and reading off a screen is ineffective, headache-inducing and vision-destroying. At a certain point, though, we were all of a sudden told by The Powers That Be that we were going to have to have a ‘conversation’ about printing in the building, because it was jolly expensive and bad for the environment. Sure enough, a few months later, an Excel spreadsheet was circulated by email, in which we could write down our opinions about the matter. Around 95% of us said something to the effect of: we like things the way they are, it helps us do our jobs properly. A few weeks after that, however – to absolutely nobody’s surprise – we were informed that, sure enough, we were shortly going to switch to a system of centralised printing whereby we would lose all of our personal printers, and a few large ones would be installed at various locations in the building. And this would be good for us because the new printers would be whizzo and fab and have all kinds of wonderful bells and whistles. Oh, and it would be good for the environment. Oh, and cheaper.

Read More: The “National Conversation about the Future of Money” Has One Permitted Outcome: the Digital Pound

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