New world order or CBDC against cryptocurrencies

[Gozie51]

You seem to have some first hand info.

So, if I understand correctly, all the situation was due to reduction of cash in circulation as part of pre-election games. Is the situation returning to normal after the election or is it getting worse?

The popular opinion is that the redesign was because of the election and done in a rush to frustrate some certain politicians from vote buying because they stored old notes already in their homes. It is all games and the situation of cash is not very harsh now unlike before the elections as they have finished playing their games. Though there is still withdrawal limit and access to cash.

And why was the turnout so low? I read it was around 27%. You would expect it to be much higher especially when there's a heated rivalry for the office.

Popular opinion is that votes don't count. The people in power already have preferred candidates to fill all the levels of political positions including the president and that was what happened because they bypass the constitution, electoral laws and the technology for accreditation and transmission of results in real time. They went back to manual collation of votes which was against the electoral law passed last year and manipulated figures to favour the ruling party candidate and that has caused many election cases in court.

And how's it looking with CBDC, is it available for use by an average Nigerians at all?

Not quite sure there is focus on that.

According to some unconfirmed sources, the number of wallets has grown because the government began to use CBDC to pay social support to the poor in the country.

Cash circulation dropped because of cashless policy and not for the use of cbdc. The registration for bank apps increased and other payment portals but not cbdc

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Please correct if this is a mistake. The next stage of implementation starts with the poor.

Not when there is adequate network to take care of the traffic. The rural communities are still far from the cashless policy and they are badly hit.

[zasad@]

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___
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[WeThePe0ple]

I have seen information that CBDC will be launched in many countries, but will it work?

If central bankers can print it without a counter value in gold or other metals, it will fail.
It is no different than a regular fiat currency. The only difference is that it is digital.
And it being digital, includes that governments have total control over it.

I call it monetary slavery. I certainly do not want it and I can assure you that it will not hold its value.

[zasad@]

I have seen information that CBDC will be launched in many countries, but will it work?

If central bankers can print it without a counter value in gold or other metals, it will fail.
It is no different than a regular fiat currency. The only difference is that it is digital.
And it being digital, includes that governments have total control over it.

I call it monetary slavery. I certainly do not want it and I can assure you that it will not hold its value.

That's why I'm following this thread closely. No one will ask people what they want and what is convenient for them. In many countries, cash can be freely exchanged for gold coins or bullion, but storage and security issues arise. And digital currency will be difficult to steal, because the chain of transactions is very easy to trace. Another positive point is that the central bank cannot go bankrupt, unlike a commercial bank, so your money is always safu. But there are many more cons.

[thefinanceopedia]

The argument is that if central bankers can create a currency without backing it up with a commodity like gold or other metals, it will not be successful. Such a currency would be no different from a regular fiat currency, except that it would be digital. The digital nature of such a currency would mean that governments would have complete control over it, which some people consider a form of monetary slavery. This view suggests that such a currency would not maintain its value over time.BTC
https://thefinanceopedia.com/
 BTC

[zasad@]

The argument is that if central bankers can create a currency without backing it up with a commodity like gold or other metals, it will not be successful. Such a currency would be no different from a regular fiat currency, except that it would be digital. The digital nature of such a currency would mean that governments would have complete control over it, which some people consider a form of monetary slavery. This view suggests that such a currency would not maintain its value over time.BTC
https://thefinanceopedia.com/
 BTC

I don't want to disappoint you, but most of all central banks are subject to the requirements of the World Bank and the Basel Accords. Central banks have not been working in the interests of their countries for a long time, there are a lot of examples. All bank money is fiduciary assets. You must believe that you can exchange this bill or token for a product.

[WeThePe0ple]

The digital nature of such a currency would mean that governments would have complete control over it, which some people consider a form of monetary slavery.  This view suggests that such a currency would not maintain its value over time.BTC
https://thefinanceopedia.com/
 BTC

This is true and this is exactly what they want. Any currency they can print without real counter value in a hard asset like precious metals, is destined to go bankrupt. History is very clear about this and there are 0 exceptions. We are now at a point in time when the entire global monetary system is about to go bankrupt, and end in hyperinflation.

2023 is very similar to the 1930's. There was high inflation (look up Weimar inflation of Germany) and there was a global conflict between rising powers, leading to WWII in 1940. After this war in 1945, the financial rules were set with the US dollar as the reserve currency and the USA setting the rules for global finance. That system is totally bankrupt now.

The history of WWII is repeating itself right now.
There is a shift in global dominance and that is what this Ukraine war is really about. USA + its NATO allies are bankrupt and it seems to me that bankers will use the war as an excuse when the entire banking system goes down. There is no other way to justify to people why they will own nothing and why their currencies are worthless.

The nazi's have confiscated all of people's assets in WWII and this is exactly what Klaus Schwab of the World Economic Forum (By 2030 you will own nothing, but you will be happy) is planning for us now.

CBDC's are simply the new plan to kick the can down the road, build up debt for decades, inflate the currency until it eventually becomes worthless and steal peoples assets when they can no longer pay off their possessions due to inflated currency.
Not only that. With CBDC's being completely digital, the government now has full control over your account. They can close your account with 1 click. They know exactly what you own. They can and they will impose rules such as "you have to spend this money before this time, or we will impose a tax.."

CBDC's are monetary slavery, and it is just a matter of time before the government will start advertising them to people.

[zasad@]

If you talk about the collapse of the dollar, then only those states that depend on the dollar system will suffer. The US will suffer the least because it could go bankrupt or print a lot of dollars. But then the question arises who is the new Boss? Or there will be several new Bosses. To write off debts, a more global war is needed, and not minor conflicts, as in Ukraine.

[Becassine]

The digital nature of such a currency would mean that governments would have complete control over it, which some people consider a form of monetary slavery.  This view suggests that such a currency would not maintain its value over time.BTC
https://thefinanceopedia.com/
 BTC

This is true and this is exactly what they want. Any currency they can print without real counter value in a hard asset like precious metals, is destined to go bankrupt. History is very clear about this and there are 0 exceptions. We are now at a point in time when the entire global monetary system is about to go bankrupt, and end in hyperinflation.

2023 is very similar to the 1930's. There was high inflation (look up Weimar inflation of Germany) and there was a global conflict between rising powers, leading to WWII in 1940. After this war in 1945, the financial rules were set with the US dollar as the reserve currency and the USA setting the rules for global finance. That system is totally bankrupt now.

The history of WWII is repeating itself right now.
There is a shift in global dominance and that is what this Ukraine war is really about. USA + its NATO allies are bankrupt and it seems to me that bankers will use the war as an excuse when the entire banking system goes down. There is no other way to justify to people why they will own nothing and why their currencies are worthless.

The nazi's have confiscated all of people's assets in WWII and this is exactly what Klaus Schwab of the World Economic Forum (By 2030 you will own nothing, but you will be happy) is planning for us now.

CBDC's are simply the new plan to kick the can down the road, build up debt for decades, inflate the currency until it eventually becomes worthless and steal peoples assets when they can no longer pay off their possessions due to inflated currency.
Not only that. With CBDC's being completely digital, the government now has full control over your account. They can close your account with 1 click. They know exactly what you own. They can and they will impose rules such as "you have to spend this money before this time, or we will impose a tax.."

CBDC's are monetary slavery, and it is just a matter of time before the government will start advertising them to people.

The promotion of CBDCs has already begun in many countries, including the jam-dex in Jamaica (as well as the e-naira in Nigeria), insisting that a cashless society is so much better. Moreover, for decades now, governments, in agreement with banks, have been trying to persuade citizens that cash is not practical (and that it can even be a vector of viruses...).
The states maintain the confusion between CBDC and bitcoin, when of course there is nothing comparable.

It is obvious that the progressive introduction of CBDCs is only a tool to control citizens. Fortunately, we can see that Nigerians are not very inclined to adopt it and that they largely prefer bitcoin, despite its ban.

[zasad@]

The digital nature of such a currency would mean that governments would have complete control over it, which some people consider a form of monetary slavery.  This view suggests that such a currency would not maintain its value over time.BTC
https://thefinanceopedia.com/
 BTC

This is true and this is exactly what they want. Any currency they can print without real counter value in a hard asset like precious metals, is destined to go bankrupt. History is very clear about this and there are 0 exceptions. We are now at a point in time when the entire global monetary system is about to go bankrupt, and end in hyperinflation.

2023 is very similar to the 1930's. There was high inflation (look up Weimar inflation of Germany) and there was a global conflict between rising powers, leading to WWII in 1940. After this war in 1945, the financial rules were set with the US dollar as the reserve currency and the USA setting the rules for global finance. That system is totally bankrupt now.

The history of WWII is repeating itself right now.
There is a shift in global dominance and that is what this Ukraine war is really about. USA + its NATO allies are bankrupt and it seems to me that bankers will use the war as an excuse when the entire banking system goes down. There is no other way to justify to people why they will own nothing and why their currencies are worthless.

The nazi's have confiscated all of people's assets in WWII and this is exactly what Klaus Schwab of the World Economic Forum (By 2030 you will own nothing, but you will be happy) is planning for us now.

CBDC's are simply the new plan to kick the can down the road, build up debt for decades, inflate the currency until it eventually becomes worthless and steal peoples assets when they can no longer pay off their possessions due to inflated currency.
Not only that. With CBDC's being completely digital, the government now has full control over your account. They can close your account with 1 click. They know exactly what you own. They can and they will impose rules such as "you have to spend this money before this time, or we will impose a tax.."

CBDC's are monetary slavery, and it is just a matter of time before the government will start advertising them to people.

The promotion of CBDCs has already begun in many countries, including the jam-dex in Jamaica (as well as the e-naira in Nigeria), insisting that a cashless society is so much better. Moreover, for decades now, governments, in agreement with banks, have been trying to persuade citizens that cash is not practical (and that it can even be a vector of viruses...).
The states maintain the confusion between CBDC and bitcoin, when of course there is nothing comparable.

It is obvious that the progressive introduction of CBDCs is only a tool to control citizens. Fortunately, we can see that Nigerians are not very inclined to adopt it and that they largely prefer bitcoin, despite its ban.

It is already clear that CBDC will be launched this year in many countries and it is useless to fight it. The only option that has not yet been banned is fiat. But regulators have already begun to fight with cash in the US and Europe. In other countries, there is no great resistance, which means that the noose around the citizen's neck will be tightened slowly.

[zasad@]

https://www.premiumtimesng.com/news/more-news/596619-nigeria-approves-national-blockchain-policy.html

Nigeria approves National Blockchain Policy
"At the FEC meeting where the blockchain policy was approved, about N17 billion was approved as a refund to Borno State.

The federal government on Wednesday in Abuja approved the implementation of the National Blockchain Policy for Nigeria.
A blockchain is a decentralised, distributed and public digital ledger used to record transactions across many computers.

Such records cannot be altered retroactively without the alteration of subsequent blocks and the consensus of the network."

[zasad@]

https://www.imf.org/en/Publications/WP/Issues/2023/05/16/Nigerias-eNaira-One-Year-After-533487

"This paper reflects on the first year of the eNaira—the first CBDC in Africa. Despite the laudable undisrupted operation for the first full year, the CBDC project has not yet moved beyond the initial wave of limited adoption. Network effects suggest the initial low adoption spell will require a coordinated policy drive to break it. .."
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The project curators from the International Monetary Fund have already thanked their subordinates for the work done.
Testing to put a digital collar on people is going well.

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1 June 2023
Tether and Yellow Card Collaborate to Advance Stablecoin Education and Adoption Among African Youth
https://tether.to/en/tether-and-yellow-card-collaborate-to-advance-stablecoin-education-and-adoption-among-african-youth/

[safar1980]

Nigeria regulator says local Binance operations 'illegal'
"Nigeria's markets regulator has ordered the world's largest cryptocurrency exchange Binance to halt its operations in the country, saying a local unit that courted Nigerian investors through a website was illegal.

"Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever," the Securities and Exchange Commission (SEC) said in a statement dated June 9. It said the company was not registered or regulated, making it illegal."

 

[Bushdark]

Do you think this is a Nigerian problem or is it a global problem for all countries whose authorities want to make a digital financial collar for their citizens?
I have seen information that CBDC will be launched in many countries, but will it work? Citizens do not need it and I think smart people will not use it.
In Russia, CBDC will be launched in April 2023, but so far I have no information about how it will be used, but the bill speaks of complete total control over the financial expenses of citizens and their management.

The government really know what we want but they want to bring it to us using different methods since they know that many people are switching to cryptocurrency for investment to make money and they are not often interested in using fiat to make transactions like we used to in the past. There will be more countries that would develop there eiwn CBDC soon when they realize that many people are now focusing on cryptocurrency.

A country like Nigeria trying to create there own e-naira is one of the things many other countries would be develop soon since that is becoming the order of time. China had already created there own digital currency that is influencing the use of yuan especially for there citizens to also use online to make transactions and pay for foods and services. This alone can not stop the continueous adoption of Bitcoin as a most use and popular cryptocurrency in the market.

[zasad@]

https://www.dw.com/en/godwin-emefiele-nigerias-disgraced-central-bank-governor/a-65905673
"Nigeria's newly inaugurated President Bola Tinubu suspended Godwin Emefiele from his post as governor of Nigeria's Central Bank on Friday and the Department of State Services (DSS) detained him a day later. Emefiele had served as governor of the bank for nine years.

Tinubu's office said Emefiele had been suspended as part of an "ongoing investigation of his office and the planned reforms in the banking sector."

Prominent Nigerians and leading figures in the civil society had been calling for Emefiele's arrest and prosecution after he rolled out a "naira redesign policy" very close to the presidential election that led to massive cash shortages."

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Will the main initiator of the CBDC or digital collar go to jail in Nigeria?

[Gozie51]

Prominent Nigerians and leading figures in the civil society had been calling for Emefiele's arrest and prosecution after he rolled out a "naira redesign policy" very close to the presidential election that led to massive cash shortages."

Those "Prominent Nigerians" are just like toothless bull dogs that can't organise themselves to challenge bad governance or they are all friends with the government benefitting from bad governance. They are all interested in having dip pockets from the government looking for different contracts and wouldn't find any alterations in the way government is going because of how the system has been made to benefit them.

The whole point is that Nigeria runs a kind of government whether presidential or federal system but the president has superior power and controls the government to himself and also his political party (which is the ruling party) and therefore anything he says, decides or wish to allow to happen stays that way. So Godwin Emefiele can't take decision without the president vetting on it. Those going after him should also endeavour to go arrest the past president (Muhammad Buhari), he should not be exempted in that ordeal because he approved the policy

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Will the main initiator of the CBDC or digital collar go to jail in Nigeria?

He already appealed his prosecution in court and I think legally he should be able to defend himself and bring in the past president into the picture .

[zasad@]

Prominent Nigerians and leading figures in the civil society had been calling for Emefiele's arrest and prosecution after he rolled out a "naira redesign policy" very close to the presidential election that led to massive cash shortages."

Those "Prominent Nigerians" are just like toothless bull dogs that can't organise themselves to challenge bad governance or they are all friends with the government benefitting from bad governance. They are all interested in having dip pockets from the government looking for different contracts and wouldn't find any alterations in the way government is going because of how the system has been made to benefit them.

The whole point is that Nigeria runs a kind of government whether presidential or federal system but the president has superior power and controls the government to himself and also his political party (which is the ruling party) and therefore anything he says, decides or wish to allow to happen stays that way. So Godwin Emefiele can't take decision without the president vetting on it. Those going after him should also endeavour to go arrest the past president (Muhammad Buhari), he should not be exempted in that ordeal because he approved the policy

___
Will the main initiator of the CBDC or digital collar go to jail in Nigeria?

He already appealed his prosecution in court and I think legally he should be able to defend himself and bring in the past president into the picture .

I wouldn't say that about the citizens of Nigeria. Nigeria attracts foreign investment and the leadership is forced to agree to certain conditions. Perhaps they did not understand the consequences, or perhaps they thought that it would be better for the country, or they had their own financial interest. But from a political point of view, this is a great achievement. Other countries do not arrest former central bankers.

[Gozie51]

But from a political point of view, this is a great achievement. Other countries do not arrest former central bankers.

Selfish gain supercide the interest of the people. When a new government feels there are enemies he has to go after. Arresting the central bank governor is chasing shadow because the governor wouldn't have acted only on his own volition. Revelations will unfold on who did what and all that thereby disattracting governance.

[zasad@]

But from a political point of view, this is a great achievement. Other countries do not arrest former central bankers.

Selfish gain supercide the interest of the people. When a new government feels there are enemies he has to go after. Arresting the central bank governor is chasing shadow because the governor wouldn't have acted only on his own volition. Revelations will unfold on who did what and all that thereby disattracting governance.

We do not know whose interests Godwin Emefile represented, but he had great political ambitions to become the president of the country.
Now in Nigeria there is a serious political conflict between the new president of the country and the leadership of the central bank, which possibly defends the interests of other financial elites.
__
I await comments from Nigerians.

[Gozie51]

We do not know whose interests Godwin Emefile represented, but he had great political ambitions to become the president of the country.
Now in Nigeria there is a serious political conflict between the new president of the country and the leadership of the central bank, which possibly defends the interests of other financial elites.
__
I await comments from Nigerians.

Godwin Emefiele is currently in the custody the Department of State Service on interrogations. Yesterday the president finally opened up on the reason for his suspension and arrest while attending  the summit for A New Global Financing Pact in French The government is interrogating him on Multiple exchange rate which made those outside Nigeria to find it difficult sending money down to Nigeria and that the financial system of the country was rotten under him making few have advantage over the majority.

I agree that there was a ridiculous exchange rate that is far lower than what the majority of Nigerians could access. That ridiculous rate was called the official rate that only those directly at the top level of government and influential can access it and was pegged for around  #450- $1 and I'm sure very few business people and limited politicians accessed that rate while the rest access the other window called black market @ #750 - $1. There was this huge margin on that multiple window plus the naira redesigned that caused so much confusion and death in the land but my submission is that he was not all alone, why pick only him