Bill Gates is promoting digital currency to third world countries, a scheme that would allow government to confiscate money whenever they choose.
In the recently published Gates annual letter, He outlined his plan for a cashless society where he proposed the poor have better access to mobile phones in order to store their financial assets digitally rather than keeping cash at home.
“By 2030, two billion people who don’t have a bank account today will be storing money and making payment with their phones.”
Prison Planet reports: this will only enslave the poor into an electronic monetary system they don’t control, allowing central banks and the government unparalleled ability to confiscate money at will through taxes and “bail-ins.”
For example, after Cyprus’s largest bank was sunk from exposure to debt-crippled Greece, the Cypriot government looted people’s bank accounts in 2013 as part of a “bail-in” program with the International Monetary Fund and the European Central Bank.
“If you can do this once, you can do it again,” financial analyst Lars Seier Christensen wrote, who called the “bail-in” full-blown socialism. “If you can confiscate 10% of a bank customer’s money, you can confiscate 25, 50 or even 100%.”
A third-world government wouldn’t even need to wait for an economic crisis to loot digital bank accounts, however, with the cashless scheme Gates proposes, officials could simply impose a tax and confiscate money automatically.
And there’s no reason to believe this scheme will only be limited to the third-world; the United Kingdom has already tested digital-only payments earlier this year.