Great Reset: UK Prepares to Introduce a ‘Digital Pound’ Central Bank Digital Currency, Chancellor of the Exchequer Jeremy Hunt…

The de facto head of His Majesty’s Treasury announced this week that the Bank of England has begun consultations on implementing a Central Bank Digital Currency (CBDC) that could usher in the globalist vision of a cashless society in which all transactions are traceable by the government.

Chancellor of the Exchequer Jeremy Hunt revealed that, as a part of his ‘Edinburgh Reforms’ of Britain’s financial services, the Bank of England will begin consultations on the design of a Central Bank Digital Currency (CBDC) which would act as a digital version of the pound sterling.

Hunt, an anti-Brexit, pro-China figure resurrected from the David Cameron era, said in a written statement to Parliament that the government will begin “bringing forward a consultation in the coming weeks to explore the case for a central bank digital currency – a sovereign digital pound – and consult on a potential design.”

“The Bank of England will also release a Technology Working Paper setting out cutting-edge technology considerations informing the potential build of a digital pound,” he added.

We are primarily funded by readers. Please subscribe and donate to support us!

In contrast to Bitcoin, which functions on a decentralised basis in which no single person can control its functions, ownership, or value, a CBDC would be similar to traditional fiat currency issued by a central bank, such as the Bank of England, and therefore could suffer from the same inflation issues if the central bank decided to issue more of it — like printing cash

www.breitbart.com/europe/2022/12/11/uk-prepares-to-introduce-a-digital-pound-central-bank-digital-currency/

h/t Coastie Patriot

Views:

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.