This piece is re-tweeted from a non-Christian Source (Southbank Investments). It is thought provoking, and offered on that basis to Christian Comment readers.
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You’re standing in the supermarket. You’ve got maybe ten items in your basket. Less than £40 worth. The cashier scans them, then you take out your card to pay. But when you put your pin in, the card machine makes a weird beeping sound.
“Payment declined,” the screen says.
That’s weird, you think. You know you’ve got enough money in the account. It’s not that. And you definitely put the pin in right. “Maybe it’s the cooking oil. It’s imported. We have a lot of issues with that,” says the cashier.
Huh? You give him a blank stare. “Imported stuff has a massive carbon footprint, apparently,” he says. “Maybe you’ve used up your allowance. Have you been on a trip recently? You might have to wait until next month.”
As crazy as it may sound, thanks to a new, digital currency under development in Britain (and all over the world), this is exactly the kind of situation you could one day find yourself in. Unlike the money in your bank account or cash in your pocket, this new money can be ‘programmed’ by the state. The authorities could create ‘rules’ as to how and when it’s spent.
That could be a limit on your carbon footprint… or rules on buying stuff that’s bad for you… or bad for the environment. Theoretically, anything is possible. Meaning the state could effectively have the power to ‘approve’ or ‘deny’ everything you do with your money. And this new, worrying form of money could be a lot closer than you might think.
It’s being explored by the Treasury and Bank of England. Rishi Sunak is a huge fan (and a man desperate to forge a legacy). And Barclays Bank is already trialling it.
The Bank of England have said that if it is introduced it would run alongside cash – not replace it. But who’s to say what could happen down the line?
If that worries you – and it certainly worries me – then I’d urge you to take a look at this urgent briefing.
Nick Hubble, Editor, Southbank Investment Research
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Christian Comment
The above is not investment advice from Christian Comment! People have long wondered what it means that we can no longer buy and sell without ‘the Mark of the Beast’ (Revelation 13:17). New enabling technologies appear now to give us a clear indication as to what this is likely to mean ………..
As Jesus says: “when you hear these things begin to happen, lift up your head – you know your time of redemption draws near” (Luke 21: 28). Praise God indeed!
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