From the beginning of this coronavirus pandemic, many of us have been calling to people’s attention as to how the pandemic is being used to further varying ideologies and agendas. We’ve seen Bill Gates and ID2020 on the forefront of this more then we’d like. Calls for a global government have also made its way to mainstream news. Quantum-dot tattoos were introduced to many of us as they seem to hold the potential to be used with vaccinations.
Immunity passports such as covi-pass are being discussed or implemented to gradually wean people back into the workforce and society as a whole despite privacy and security concerns being brought up. If that wasn’t enough, people such as the United Nations Secretary General Antonio Guterres believes the pandemic can be used to rebuild our world which is echoing the general view of the World Economic Forum for a “Great Reset”.
However, before the coronavirus was even declared to be a pandemic (which occurred in early March) and started shutting things down here in the US, some, including myself already began to see how this could be used to drive the push for society as a whole to go cashless. Cash was seen as a possible spreader of the virus and efforts were made to properly sanitize cash.
As time went by this idea only continued in the thoughts of many as we’ve even seen some businesses reject the use of cash for cashless alternatives which is seen as a “safer” option. My tweet from February 23rd below was mainly towards China, but it shouldn’t be too far-fetched to think this is possible for any government. Especially given the kind of totalitarian regulations that have been put in place during this pandemic.
Since all of this began, headlines concerning the “war on cash”, digital currency, and a coming cashless society that seems to be inevitable to some, have been plentiful. A part of this conversation has centered on the US creating its own digital currency system which seems to be more of a reaction to China’s “digital Yuan” initiative. In the past week or so we’ve also seen a shortage of coins in the US, again bringing into question if a cashless society is already well on its way.
- Calls for a US ‘digital dollar’ rise as China powers ahead with a digital yuan
- Coronavirus could speed up introduction of a cashless society
- China’s central bank is one step closer to issuing its digital currency – report
- Coronavirus Stimulus Offered By House Financial Services Committee Creates New Digital Dollar
- Will the World Move Towards a Global Currency After the Coronavirus Crisis?
- China’s Digital Currency To Be Given A Test Drive By U.S. Companies
U.S. Moves Closer To Digital Dollar
From Forbes: On June 30th, 2020, the Senate Banking Committee held a hearing on the future of the digital dollar. The pressures to create a digital USD are mounting as China recently began testing its own digital currency – the DCEP, which will be included in popular applications like WeChat and AliPay. Of particular concern is widespread adoption of a digital yuan in emerging markets and in international trade.
The idea of a dollar-backed digital currency gained mainstream media attention last year during the Libra congress hearings, where Facebook introduced a new type of digital unit backed by a basket of currencies and commodities.
Although David Marcus insisted that Libra users will not have to put their trust in Facebook and that Libra was a decentralized currency, regulators weren’t buying it and expressed concern over the long-term threat to the traditional financial system. On July 9, 2019, regulators requested a moratorium on the project.
In December, Libra released a new roadmap, proposing several digital-fiat currencies deriving their values from the USD, British Pound, Swiss Franc and others, thus creating an efficiency layer on top of the current financial system. Users would be able to access these digital currencies through a wallet installed on their phone, and potentially through WhatsApp chat and Facebook Messenger.
Distributed issues of the $1200 COVID stimulus checks were issued, created new momentum for the digital dollar (and a more efficient financial distribution machine). It is no secret that many are still waiting for their stimulus checks, while $1.4 billion in stimulus was sent to dead people.
Most recently, Congresswomen Rashida Tlaib (D-Mich.) and Pramila Jayapal (D-Wash.) introduced a new stimulus proposal of $2,000 per month to residents through the Automatic BOOST to Communities Act (ABC Act). Under the ABC Act, Congress would authorize the Federal Reserve to create “FedAccounts,” or “Digital Dollar Account Wallets,” which would allow U.S. residents and business to access financial services through an app on their phone.
Building on this momentum, the Senate Banking Committee held a hearing continued the discussion of the digital dollar yesterday. Read More
Prophetic Implications
Why should a cashless society even concern us as believers? Shouldn’t this be seen as a positive thing as we try to curb illnesses and deaths due to the coronavirus pandemic? Also, isn’t it more convenient anyways? These are valid points but with the discussion of a cashless society comes privacy concerns.
In my recent article on mastercard joining ID2020, I brought up a similar issue. With cash, purchases and spending habits can’t be monitored. However, cashless alternatives such as debit/credit cards and digital currencies leave a digital trail that can be monitored. When we start bringing into the conversation of linking these cashless alternatives to a universal digital identification system as noted in the article, it becomes concerning.
Not only do we continue to head down a world where our privacy is traded for convenience, it shouldn’t be too far-fetched that these systems can become restricting. Imagine a health passport system like covi-pass that determines who can get back into society.
What happens if you don’t meet the requirements? If society largely or completely moves to a cashless system, what stops businesses or even the government from using digital currency as an incentive to go along with what they believe to be for the “greater good”?
Get vaccinated and continue receiving pay or don’t do it and face penalties for example? This may sound ridiculous now but if someone would’ve told you at the beginning of the year that the whole world would be locked down, that you’d be restricted from interacting with people and going to certain places, that you’d need to wear a mask or be denied service, or that discussions would surround the mandating of a vaccine, would you believe them?
Well friend, this is our current reality. Who knows what’s in store for us for the remainder of 2020. This may sound like a plot from a dystopian book (George Orwell’s 1984 anyone?) but to the believer who has an understanding of bible prophecy, we can clearly where this is headed.
The bible tells us there will be a mark of the beast system implemented in the tribulation that will determine who can buy or sell – essentially who can participate in society. You have this mark, your set. If you don’t, you’re barred from society and will ultimately be killed for refusing.
He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name. (Revelation 13:16-17)
We see that much of this is stage setting for what will ultimately be fulfilled during the tribulation period. For the believer, this should give us great joy that our redemption draws near and for the unbeliever this is a warning that you should run to Christ as fast as you can while there’s still time!
Sources
- U.S. Moves Closer To Digital Dollar (July 1st, 2020) – Forbes
- Is The Nationwide Coin Shortage Being Used To Push Us Toward A Cashless Society? (June 30th, 2020) – TMIN
- China’s Digital Currency To Be Given A Test Drive By U.S. Companies (April 23rd, 2020) – Forbes
- WILL THE WORLD MOVE TOWARDS A GLOBAL CURRENCY AFTER THE CORONAVIRUS CRISIS? (April 10th, 2020) – EL Universal
- Coronavirus could speed up introduction of a cashless society (March 27th, 2020) – Small Caps
- China’s central bank is one step closer to issuing its digital currency – report (March 24th, 2020) – The Block Crypto
- Coronavirus Stimulus Offered By House Financial Services Committee Creates New Digital Dollar – (March 23rd, 2020) Forbes
- Calls for a US ‘digital dollar’ rise as China powers ahead with a digital yuan (January 23rd, 2020) – CNBC