Prime minister Rishi Sunak has a plan to bring in a central bank digital currency (CBDC) for the United Kingdom. This will be similar to a cryptocurrency, but it will be centralised and controlled by the state. This will give the government a huge amount of power to control the lives of citizens and will be used to replace the anonymity and freedom of cash transactions. This will also give the government a dystopian ability to track and control people’s daily lives.
In the video (above) I explain exactly what is going on and the agenda behind it. If you want to protect your rights and freedoms, I highly recommend watching the full video until the end. In this article, I will explain what the differences are between Bitcoin and CBDCs; how CBDCs can be used as a means of top-down coercive control; and how you can protect yourself and your family.
1. Bitcoin vs. Britcoin
Bitcoin was the first cryptocurrency. Secured by computers all over the world, Bitcoin isn’t controlled by any one entity. Anyone with an internet connection and the correct hardware can take part in securing the network. There is no central authority and no one in charge. You can send Bitcoin to anyone, anywhere in the world, without needing permission from a third party like a bank. The network of computers running Bitcoin is so big that no one government can stop it.
What Sunak is proposing is a central bank digital currency (CBDC). This is a digital currency controlled by the state. The media has dubbed it Britcoin. This is a currency that can be totally controlled and is fully centralised. Unlike with cash or Bitcoin, the government will be able to stop you making any transaction they disapprove of.
2. Programmable Money
The Bank of England has suggested the CBDC could be programmable. This would mean that the state or an employer could potentially put restrictions on how the money was to be spent. The government could decide that you shouldn’t be able to spend over a certain amount on flights to ‘protect the environment’. An employer might decide to prevent their employees from donating to causes the employer disagrees with.
This has already happened in Canada with bank accounts. In Canada, the government froze the bank accounts of people donating as little as $50 to truckers who were protesting against Covid mandates. In a cashless society, these people would not have access to any money at all.
3. How to protect yourself
Rules are created to control the poor and the middle class. The rich find legal ways to protect themselves. If you have money, you have the freedom to choose where you live and will always have options on how you transact. The key to protecting yourself is to learn to grow your wealth.
Once you have money, the key is to diversify how you store it. This could mean having gold, Bitcoin, other cryptocurrencies, bank accounts around the world, safely stored cash, etc. Once you have money, the options are limitless. If you want to start making your own way towards financial freedom, why not book onto my next £1 course? You can get your ticket here!