by Stefan Gleason
GoldSeek
The globalist push for central bank digital currency is ramping up.
On Monday, Federal Reserve Chairman Jerome Powell spoke at a virtual “Innovation Summit” hosted by the Bank for International Settlements, the central bank for central banks around the world.
Powell aimed his remarks specifically at digital currencies. And he made it clear that Bitcoin and other privately circulating crypto coins should not be allowed to supplant government-controlled fiat notes.
Clearly, Bitcoin’s recent surge to a market capitalization of $1 trillion set off alarms within the global central banking cabal. The prospect of cryptocurrencies becoming widely used in commerce and trade poses an existential threat to the world monetary order.
Powell derided cryptocurrencies: “They’re highly volatile and therefore not really useful stores of value, and they’re not backed by anything.”