Many argue that the main urgency to lock the world down and implement ‘The Great Reset’ came from the collapsing of the fiat monetary system globally. That is, the system of printing money (“MMT”) has kept our paper money system and trust among citizens, banks, and world governments afloat for 45 years, but was set to collapse in 2008 (Great Financial Crisis), again in Sept. 2019 (repo swap crisis), and would have finally collapsed 2020 had not C19 pandemic come along and provided an excuse to stop everything and permit the governments to print trillions in money for years. Some on the financial side believe that many governments, already signed on to the WEF/UN/World Bank system of societal guidance, were warned of societal collapse and breakdown if the system of money collapsed (people would stop working, shipping and supply chains would halt, governments, banks, and employers would not function or honor payments or paycheques etc.) This collapse would have been inevitable in either two forms. First, central banks were facing the prospect of needing negative interest rates to keep the system running, which would lead to collapse. Or, secondly, if they continued printing trillions, the ‘transitory inflation’ we see now (Fall of 2021) would become hyperinflation. They know both scenarios would result in the monetary system failing, causing societal mistrust and breakdown. The interim mode they are operating in now, as of Oct. 2021, allows them to inflate away their debt and pass the costs on to the average person. That is, we have had months of high inflation (>4 or 5%) for all basic goods (groceries, fuel), all the while in a zero-percent interest rate environment. This devalues people’s savings and cash, even though they feel they have more savings, and essentially lets the governments inflate away their debt almost invisibly.
The printing of money (‘modern monetary theory’ = MMT, or ‘quantitative easing’ = QE), in Economics 101 theory should result in high inflation since you need goods and services to back the money up. Governments of the world first abandoned the ‘gold standard’ in the 1970’s, which fixed bank reserves to physical gold. After the 1970’s governments just started printing money under the ‘fractional reserve’ system. They didn’t need to actually hold 100% of the people’s money, just a fraction. This excess of printing money shows, for example, as excess debt to GDP ratio (below). It can be seen that both in 2008 and 2020 that banks printed and injected money into the system at accelerated rates. The projection is for this to ease off from 2022 to 2030, but for it to accelerate and continue in 2030 and beyond.
https://www.capitalgroup.com/advisor/ca/en/insights/articles/four-reasons-us-debt.html
Some interpret this as the timeframe of 2020 to 2030 being needed to completely shift people from any remaining forms of cash or physical money, into a complete central bank digital current (CBDC). Most of our money or wealth is already electronic, in that we couldn’t all at once withdraw all our money out of all the banks at once – there is physically not that much cash there. The CBDC will push this further, and perhaps replace system of crypto like Bitcoin, so that the majority of the world will use and only recognize the central bank money. The control of the CBDC will already be tied in to each persons digital passport/digital wallet for seamless tie-in to the social credit system of societal control.
The progress of this shift is already connected to the ‘need’ to enter a new economy, pushed by the BIS and ECB (Bank of International Settlements and European Central Bank), as well as all major Western governments and their central banks.
Ernst Wolff describes ‘them’ as the Digital-Financial Complex. The mega IT and social media corporations (Apple, Google, Facebook, Amazon) and the mega financial groups (Blackrock, Vanguard, Fidelity, State Street). Together this group controls all world-wide datastreams as well as $220 trillion USD, larger than the EU and US GDP combined. This concentration of powers began years ago, and their goals now are to pillage and plunder the ‘old’ system, purposely create societal chaos in the process (unemployment, middle-class destruction, censorship and control of speech and thought, government unrest and distrust), and in parallel set up the new system, post Fourth Industrial Revolution. The new system is the CBDC, which is controlled via central banks directly (not national banks), which are in turn controlled via the Complex system via a Social Credit system (already underway in China). The new CBDC in programmable to coerce good social public behavior: access can be turned off/on by ‘the State’ based on behavior (credit score); transactions are completely trackable; any and all taxes (country, sales, global, ‘carbon deficit’) will be instantaneous and without recourse.
The necessity of the global financial change to CBDC requires the erosion and destruction of Western liberal democratic processes since they are simply in the way. The world needs to be necessarily in a socialist system for its own good from the top down. Rather than spending billions to alleviate world-wide issues like shortages or supply issues, the system is actually encouraging the crises, chaos, and disorder. This is a major sticking point for many Westerners who still feel ‘our governments would never do this’ to us. Social media, the mainstream media, and all governments are beholden up to the WEF/UN, not to their citizens.
