May 27, 2022
JERUSALEM WEATHER

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Dr. Phillipa “Pippa” Malmgren, a technology entrepreneur and economist, spoke at the annual meeting of the World Economic Forum being held in Davos, Switzerland, this week, dropping a bombshell prediction that the world is well on its way to implementing an electronic banking system that would open every transaction of every person to government scrutiny.

“I was very privileged. My father was the adviser to Nixon when we came off the gold standard in ’71, so I was brought up with a kind of inside view of how very important the financial structure is to absolutely everything else,” Malmgren said.

“And what we’re seeing in the world today is I think we are on the brink of a dramatic change where we are about to – and I’ll say this boldly – we’re about to abandon the traditional system of money and accounting and introduce a new one, and the new one – the new accounting – is what we call blockchain.”

“It means digital,” she continued. “It means having an almost perfect record of every single transaction that happens in the economy, which will give us far greater clarity over what’s going on.”

 

Unlike current cryptocurrencies, the system Malmgren describes will give the central banks complete control over people’s money. The banks will be able to track every transaction and even control how it is spent, blocking it from being transferred to people or organizations it deems undesirable. 

This may sound like a dystopian sci-fi scenario of the distant future, but this was already seen in Canada when, without a court order, Prime Minister Justin Trudeau used emergency powers to order banks to freeze accounts of individuals who donated to the Freedom Convoy. Crowdfunding sites were also forced to return millions of dollars that had been collected for the truckers. 

The Biden administration also accessed bank records to track bank account debit card or credit card purchases made in Washington, D.C, during the Jan. 6 riot investigation. In October, even greater government overreach was avoided when the Biden administration backed down on a proposal to direct the IRS to collect additional data on every bank account that sees more than $600 in annual transactions.

Implementing such a global digital currency system would require the establishment of a global digital currency and a global digital identity for every person on the planet. 

Rafi Farber, an Israeli economist and financial journalist who blogs and videos under the pen The End Game Investor, combines Torah knowledge with financial wisdom. He compared the New World Order and a global digital currency system to the Tower of Babel.

“Blockchain technology is just an excel spreadsheet that is spread around so everyone can see it,” Farber explained. “They are extremely trackable. This is the same as what banks are already doing. Banks and governments are always looking for a way to monitor transactions, and blockchain technology is not a new thing. The governments are already doing this. But they are forced to look at the transactions from multiple sources.”

“If this becomes centralized, it will just make it easier for the government.”

“The practical difference in switching from what we are using now, which is mostly digital anyway, to central bank digital banking is that cash will be outlawed. When you outlaw cash, every single thing becomes trackable. Nothing is too small.”

Farber believes that such a system is inevitable, but despite this bleak outlook, he is not worried. And this is due to his Biblical perspective on economics.

“It is coming, and it is evil. But the real question is ‘Is it sustainable?’” Farber asked. “Totalitarian system can’t last. The Bible tells us time after time that perpetual evil is not sustainable. Evil, by its nature, steals. It is a system built on theft. This is still true. Inflation is inventing a monetary medium over a base of real money and resources that can be stolen. The more productive society is, the more that can be stolen. But eventually, people with too much power get greedy and steal more than the society can produce.”

“The Torah outlawed theft for this reason. Society cannot be built on theft. It will collapse, and God doesn’t want that to happen. Evil is not self-sustaining. This is why the Soviet Union collapsed.”

“The Tower of Babel was the first communist system. It was a global world government under Nimrod. Nimrod was the first centralized king. That is what Abraham ran away from. They wanted him to take part in building the tower, and Abraham ran away.”

“But the Tower of Babel was theft, stealing the public’s resources. If God had not intervened, the Tower of Babel would have collapsed on its own. Centralized systems cannot sustain themselves.”

“These people calling for a centralized global government and centralized digital banking system will succeed but will also collapse,” Farber concluded.