On March 9th 2022 President Joe Biden issued an executive order that called on the US Treasury Department to look into creating a government-controlled digital currency, aka “a digital dollar.” This is the first time the US government has formally hinted at developing a cryptocurrency -- a market now valued at approximately $1.7 trillion, with BitCoin being the most famous example.[1]
These forms of digital money which are controlled by governments are also called CBDCs or Central Bank Digital Currency. Other countries such as China, Sweden, and the EU already have their own CBDC. In fact, 90% of national central banks are at least in the planning stages for launching their own CBDC in the future.
Some 40 million American adults, or 16% of the population, have used, traded or invested in cryptocurrencies, according to the Pew Research Center. Not only does this point to the growing trend in the global financial sector, but the government’s desire to not miss out on the chance to exert more control over people’s money. Isn’t that what it always boils down to – power and money?
Adding more intrigue to this news is talk of something even more intrusive, “programmable money.” Programmability is a major feature of digital currency which would allow the issuer to set limits and controls over its use. Essentially, any CBDC would give either the State, the central bank or the corporation issuing the money as wages the power to control how and where the money is spent.
How would this work? Let’s say the government issued a travel restriction on citizens, only allowing them so much money per month on gas. With programmable currency all transactions could be traced, so once a buyer reaches the limit, they are no longer allowed to buy fuel. I’m not trying to be a fearmonger, but just citing a hypothetical.
In case you think I’m being conspiratorial, let me cite an example from last year. Tom Mutton, the director of the Bank of England, made a statement about the “double edged sword” of programmable money saying, “You could introduce programmability and there could be some socially beneficial outcomes from that, preventing activity which is seen to be socially harmful in some way. But at the same time, it could be a restriction on people’s freedoms.”[2]
Now don’t take me the wrong way. I’m not suggesting that we pack our Ramen noodles and beanie-weenies and move off the grid. But I am trying to point out how the signs of the times are aligning with the Beast system we find in Revelation 13. Bible prophecy scholars have long warned that the Scripture foretells a day when a global leader, The Antichrist (or Beast), will be able to control what you buy and sell with his “mark.” The idea that money itself could be programmable so that only those loyal can spend it or restricting the ability of commercial transactions to those with religious or political allegiance is the kind of tech that would fit nicely into the Antichrist’s evil empire.
David Jeremiah adds, “To me, the rise of digital currencies feels more sinister than spectacular – especially with the specter of a government-sponsored form of digital tender. The idea of government officials being able to access the financial records and transaction histories of ordinary citizens is frightening. And the idea of those same officials being able to hack, withdraw, or freeze those funds with impunity is terrifying. We can already see the outer waves of the coming storm. Technology already exists that would make it possible for the economic and religious union predicted in the mark of the Beast. God’s people must be aware of these trends without being seized by fear.”[3]
These are perilous times, but
also exciting times. We can see how much of the stage setting for the last days
is coming together before our eyes. Don’t be dismayed, but discerning. “See
that you are not alarmed, for this must take place, but the end is not yet”
(Matt. 24:6). Everything is going down just the way God said it would. Until He
comes, let’s be found faithful. -DM
[1] Dan
Avery, “Biden's 'Digital Dollar': Could This Be the US' Answer to Bitcoin?” CNET,
5 April 2022
<https://www.cnet.com/personal-finance/crypto/biden-digital-dollar-governments-answer-to-bitcoin/>
[2]
Tim Wallace, “Bank of England tells ministers to intervene on digital currency
'programming,' MSN Money, 21 June 2021 <https://www.msn.com/en-gb/money/other/bank-of-england-tells-ministers-to-intervene-on-digital-currency-programming/ar-AALhtDP>
[3] David Jeremiah, Where Do We Go From Here? (Nashville, TN: Thomas Nelson, 2021), 77.
No comments:
Post a Comment