Video & transcript from Benjamin Hart, American attorney and managing director of Integrity Legal in Bangkok. Taken from YouTube Video: Is Thailand Being "Railroaded" Into the Digital Wallet Scheme?
The global financial system is built on a precarious house of cards - a FIAT ponzi scheme which has been wrecked with QE to infinity, further destabilized by all the derivatives markets, which the central financial clearing depositories (both US and EU) are also exposed to, both underwriting the derivatives, and exposed by also holding these same derivatives themselves (mortgages, loans etc). Borrowing from the future - money printing - may only have the 'can' kicked down the road for so long. Things start to break. Current global meltdown perhaps owing to the Japanese carry trade - a type of foreign exchange trade where investors borrow money in Japanese yen (JPY) at low interest rates and use it to invest in higher-yielding assets, typically in other currencies or markets...Also global meltdown owing to panic over the US seemingly disinterested in de-escalating the middle east, and the US govt reportedly having emergency (FED) meetings about rate cuts - which paradoxically, can cause more panic by calling an emergency to avert an emergency.
Regional banks will probably start to fail in US and Europe next.
Aaaaand that is my long-winded answer, in getting round to finally addressing your question after setting the scene...the CBDCs will be pushed harder, everywhere, as the cascading effects of this global meltdown are exacerbated. So many intertwined narratives. We know 'they' are engineering a looming food production crisis - paying farmers not to farm, culling livestock due to bird flu scamdemic. Hyperinflation kicks in, fuel, energy, bills spike. Then the CBDC will be dangled again and again and again as a carrot with all the conditions described in this video by Ben. And people will be desperate. To eat. To live.
So, yes, I think the CBDCs will be ushered in, opportunistically at first, then ruthlessly soon after, nudged, pushed, then all-but-forced upon the populace. Unless, the masses see it for what it really is. Reject it like the 'Enaira' CBDC rollout - as the Nigerians did. Capital controls may come. Limits on cash withdrawals. Attempts to confiscate assets. Barter economy shall thrive. Get to know your neighbours. Help them out, help your friends, your colleagues. We are in for one hell of a bumpy ride.
What benefit would the ruling elite, the the corporate sector or anyone else in Thailand derive from the country going cashless? Graft and corruption are endemic in most institutions, as well as the justice, policing and immigration systems.
Backhanders, cash in hand and other forms of fiscal fiddling for what is often mutual benefit are historically endemic in LOS. This goes some way to explaining why only around 11 percent of Thais file tax returns and the eyebrow-raising reality that the Thai black economy is the tenth highest, per capita, in the world at a staggering 48 percent of GDP.
Thailand's economy is healthy compared with many in the West, with a government debt v gdp ratio, for example, around half that of the UK. As Covid fades in the rear mirror, the service and tourism sectors are giving GDP a boost - a welcome sign which has caused a revision to earlier forecasts of economic growth, from 1.9 % in 2023 to 2.4 % this year and 3.0 % in 2025. Chocs away!
So why fix something which ain't broken - except to be part of some dystopian globalist enslavement plan which may bring unwelcome trouble and strife to an LOS which is just starting to smile again after decades of political upheaval and irksome and costly Covid countermeasures?
In the end, whether or not Thailand bows to outside pressure to bin cash and roll out CBDCs, digital wallets and IDs will depend not on the blandishments of Klaus Schwab and his ilk, but on what's in it for Thailand's corporate and political elite.
Great point. Whereas I know that Bangkok is not representative of the rest of Thailand in its wholesale capture of the new normal ideology and the leaning towards convenience in a majority using QR codes via banking apps to pay for things, it likely will not be a nationwide awareness of the importance of anonymous, non trackable cash transactions that will preserve it. Rather, cash will be kept because the corrupt power base and the families monopolising all industries and real estate, need cash for their brown envelope deals and tax avoidance.
It's a digital hangman's noose. Nothing else. And every noose has just one use to which it will eventually be put. If Thais allow this, their slavery will be a fait accompli and there will be nothing virtual about it.
Wow! Nicholas, this sure came about quickly. Is it possible, the PM has been hypnotized by the WEF, and from of your previous posts, also the WHO? The hype to be the first in SEA to have CBDC? Also, it seems likely that this project is being funded by non-Thai parties? Some of who could be filling the pockets of those at the top? Thanks for sharing this! Lets Pray this fizzles like the rescinding of the ban on cannabis businesses.
Plus, I had another thought. . . Do you think that this has anything to do with the crash in the financial system?
The global financial system is built on a precarious house of cards - a FIAT ponzi scheme which has been wrecked with QE to infinity, further destabilized by all the derivatives markets, which the central financial clearing depositories (both US and EU) are also exposed to, both underwriting the derivatives, and exposed by also holding these same derivatives themselves (mortgages, loans etc). Borrowing from the future - money printing - may only have the 'can' kicked down the road for so long. Things start to break. Current global meltdown perhaps owing to the Japanese carry trade - a type of foreign exchange trade where investors borrow money in Japanese yen (JPY) at low interest rates and use it to invest in higher-yielding assets, typically in other currencies or markets...Also global meltdown owing to panic over the US seemingly disinterested in de-escalating the middle east, and the US govt reportedly having emergency (FED) meetings about rate cuts - which paradoxically, can cause more panic by calling an emergency to avert an emergency.
Regional banks will probably start to fail in US and Europe next.
Aaaaand that is my long-winded answer, in getting round to finally addressing your question after setting the scene...the CBDCs will be pushed harder, everywhere, as the cascading effects of this global meltdown are exacerbated. So many intertwined narratives. We know 'they' are engineering a looming food production crisis - paying farmers not to farm, culling livestock due to bird flu scamdemic. Hyperinflation kicks in, fuel, energy, bills spike. Then the CBDC will be dangled again and again and again as a carrot with all the conditions described in this video by Ben. And people will be desperate. To eat. To live.
So, yes, I think the CBDCs will be ushered in, opportunistically at first, then ruthlessly soon after, nudged, pushed, then all-but-forced upon the populace. Unless, the masses see it for what it really is. Reject it like the 'Enaira' CBDC rollout - as the Nigerians did. Capital controls may come. Limits on cash withdrawals. Attempts to confiscate assets. Barter economy shall thrive. Get to know your neighbours. Help them out, help your friends, your colleagues. We are in for one hell of a bumpy ride.
Thanks for the summary. I have been studying what is going on and having your kind expose is helpful.
I believe you are right in seeing how they will push it. There is much to say, but some other platform.
Thanks so much, Nicholas. So glad you are doing this work!
What benefit would the ruling elite, the the corporate sector or anyone else in Thailand derive from the country going cashless? Graft and corruption are endemic in most institutions, as well as the justice, policing and immigration systems.
Backhanders, cash in hand and other forms of fiscal fiddling for what is often mutual benefit are historically endemic in LOS. This goes some way to explaining why only around 11 percent of Thais file tax returns and the eyebrow-raising reality that the Thai black economy is the tenth highest, per capita, in the world at a staggering 48 percent of GDP.
Thailand's economy is healthy compared with many in the West, with a government debt v gdp ratio, for example, around half that of the UK. As Covid fades in the rear mirror, the service and tourism sectors are giving GDP a boost - a welcome sign which has caused a revision to earlier forecasts of economic growth, from 1.9 % in 2023 to 2.4 % this year and 3.0 % in 2025. Chocs away!
So why fix something which ain't broken - except to be part of some dystopian globalist enslavement plan which may bring unwelcome trouble and strife to an LOS which is just starting to smile again after decades of political upheaval and irksome and costly Covid countermeasures?
In the end, whether or not Thailand bows to outside pressure to bin cash and roll out CBDCs, digital wallets and IDs will depend not on the blandishments of Klaus Schwab and his ilk, but on what's in it for Thailand's corporate and political elite.
Great point. Whereas I know that Bangkok is not representative of the rest of Thailand in its wholesale capture of the new normal ideology and the leaning towards convenience in a majority using QR codes via banking apps to pay for things, it likely will not be a nationwide awareness of the importance of anonymous, non trackable cash transactions that will preserve it. Rather, cash will be kept because the corrupt power base and the families monopolising all industries and real estate, need cash for their brown envelope deals and tax avoidance.
Nothing like fear to terrify people. 'You won't be able to buy food" if you don't have have it.
It's a digital hangman's noose. Nothing else. And every noose has just one use to which it will eventually be put. If Thais allow this, their slavery will be a fait accompli and there will be nothing virtual about it.
Wow! Nicholas, this sure came about quickly. Is it possible, the PM has been hypnotized by the WEF, and from of your previous posts, also the WHO? The hype to be the first in SEA to have CBDC? Also, it seems likely that this project is being funded by non-Thai parties? Some of who could be filling the pockets of those at the top? Thanks for sharing this! Lets Pray this fizzles like the rescinding of the ban on cannabis businesses.