The Chinese were the first in the world to invent paper money back in the 7th Century. Now, more than 1,400 years later, China is again on the cusp of creating a new form of government currency that some say could pose a serious economic threat to America and the West.
This CBN News article doesn’t tell us anything we don’t already know concerning where we see the world going with digital currency. However, why I believe it’s worthwhile to share is because it further reinforces what I’ve been saying I (as well as many others) believe this technology can be used for – further surveillance and control which carries further significance as it relates to Revelation 13:16-17.
I’ve touched on China’s efforts with a digital yuan in the past but this article elaborates further on what the government could do with this new digital system they’re employing. They state that with the new tools a digital yuan will give the Chinese government “there will be a point where the People’s Bank of China, the central bank of their country, is going to be able to look, peer inside of every single transaction, what everyone does, 24 hours a day, 7 days a week” (CBN News).
They continue on by stating, “This means if you are a human rights activist or a Christian, authorities can use this new technology to punish you if you engage in activities they consider anti-government…Now, the Chinese government, I think, with sort of the proverbial flip of the switch, can make people fall in line by cutting off their access to money” (CBN News).
The aspect of surveillance and control that digital currency will bring is mainly what I try to point our attention to. This brings us right into what the bible says is yet to come, that one day there will be a system set in place in which everyone will need to have a mark on their right hand or forehead to be able to participate in society (specifically buying or selling). For those who don’t oblige to this system’s demands, they are shut out of it.
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)
In my article, What is the Prophetic Significance of Digital Currency?, I elaborated on why I believe this digital currency race is prophetically significant. I believe that this push for digital currency (and cashless society by extension) may very well contribute to or be laying the groundwork for the mark of the beast system that comes about during the tribulation. As we see efforts for this progress it shows us how close this time period is, and even closer the rapture of the church.
China on Cusp of Eliminating Cash, Pushing the World Toward Total Government Surveillance
CBN News: “In effect, they are not cryptocurrencies, they are not so-called stable coins, in effect, they are the national physical currency of a country just represented in a digital form,” said Erik Bethel, former U.S. executive director with the World Bank.
Bethel says while the world fixates on private cryptocurrencies like Bitcoin, Beijing is busy building a digital version of its own currency, the Yuan, also known as the Renminbi, to control its citizens and eventually threaten the dominance of the U.S. Dollar.
“They’ve pretty much created all of the building blocks that will allow a central bank digital currency to flourish,” Bethel told CBN News.
Yaya Fanusie, a former economic and counterterrorism analyst in the CIA, says China’s goal is to replace cash with a digital currency that’s controlled by the communist government’s central bank.
“China has said for a while that it expects to be pretty much a cashless society in the future so the idea is that cash notes, coins will no longer be around and so people will be using digital currency that’s going to be in their wallets,” said Yaya Fanusie, a senior fellow at the Center for a New American Security.
That digital currency will also be issued by the government bank allowing what Congressman Michael McCaul, the top Republican on the House Foreign Affairs Committee, says is unprecedented access to people’s financial transactions.
“This will give them data on behavior and on how people spend,” Rep. McCaul (R-TX) told CBN News.
And it gives Beijing the power to track that spending in real-time.
“There will be a point where the People’s Bank of China, the central bank of their country, is going to be able to look, peer inside of every single transaction, what everyone does, 24 hours a day, 7 days a week,” warned Bethel.
This means if you are a human rights activist or a Christian, authorities can use this new technology to punish you if you engage in activities they consider anti-government.
“This technological ability is something the government has never had before. It always had to go to companies and say ‘ok, cut off this person,'” Fanusie explained to CBN News. “Now, the Chinese government, I think, with sort of the proverbial flip of the switch, can make people fall in line by cutting off their access to money.” Read More
Sources
- China on Cusp of Eliminating Cash, Pushing the World Toward Total Government Surveillance (July 1st, 2021) – CBN News