eNaira's Failure And HBD

The digital Naira was an absolute failure and I’m glad that it was, because it shows how arrogant and poorly planned these things are. It gives me hope that the attempted roll out of things in other countries will be abysmal failures.

People in this country don't believe in the faith of their government's fiat currency system. Why do you think the eNaira will be adopted, you see the answer!

Leaders of developing Countries are being handled by the upper class of the global North and are more accountable to their handlers than the ppl of their respective countries. So they become very out of touch with the ppl just as how the global elites telling them what and when to do, are.

Summary:
In this video, the speaker discusses the eNaira, Nigeria's failed attempt at introducing a Central Bank Digital Currency (CBDC), contrasting it with the concept of HBD. He explains how the eNaira's failure has led to social unrest and economic issues in Nigeria. The speaker highlights the potential pitfalls of a global digital currency and the implications for developing nations. He emphasizes the grassroots approach of HBD as opposed to top-down mandates for CBDCs. Additionally, he delves into historical perspectives on money, banking systems, and the need for a decentralized monetary system like HBD to provide defense against government control.

Detailed Article:

The speaker opens by addressing the situation with the eNaira, Nigeria's implementation of a CBDC, which he describes as a total failure. Less than one percent of Naira banknotes were exchanged for the eNaira, indicating a strong rejection from the population. He suggests that this failure has further destabilized the Nigerian economy, leading to social unrest, which he considers a common historical pattern.

The speaker discusses the broader implications of CBDCs and how they tie into the agenda of international central bankers to establish a global digital currency and eventually implement global taxation. He views Nigeria as a test case for this agenda, targeting developing and poor nations first. The potential risks and consequences of such a centralized system are highlighted, especially in light of eNaira's failure.

In contrast to the top-down approach of CBDCs, the speaker introduces HBD as a grassroots alternative. He references Venezuela as an example of HBD being utilized for business-to-business transactions and emphasizes the importance of empowering individuals in oppressed communities to uplift themselves through decentralized currencies like HBD.

The speaker delves into the history of money, pointing out the constant struggle governments have had in managing the money supply. He questions the efficacy of central banks like the Federal Reserve and their repeated quantitative easing measures, suggesting that the current monetary systems are flawed.

He argues that people ultimately create currency and monetary systems, as seen in the rise of cryptocurrencies like HBD. He stresses the potential of HBD to serve as a defense against the government, drawing parallels with the use of the U.S. dollar in various countries to protect against government instability.

Finally, the speaker concludes by emphasizing the importance of a decentralized monetary system like HBD in providing defense against government control, highlighting its potential to reach billions of people globally who are currently underbanked or unbanked. He contrasts this bottom-up approach with the failures of traditional centralized banking systems and institutions like the IMF and World Bank. Ultimately, he advocates for a shift towards decentralized currencies that empower individuals and communities in the face of centralized control.

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