Are crypto currencies like Bitcoin and Ethereum the work of the financial elites? No they are not. They were started by people who were aware of the debasement of fiat currencies and were alternatives that people could use and to protect themselves from the debasement that will get worse. So are the financial elites against cryptos like Bitcoin (BTC) and Ethereum (ETH)? A continual rise in the price of cryptos will draw funds away from the bonds and stocks which are promoted and are the source of income of the financial elites. The financial elites try to discourage people from going into cryptos. They spread the narrative that cryptos have no intrinsic value, are highly volatile and can go down to zero and that many are scams. Indeed some cryptos are scams but many failed cryptos that have died (gone to zero) are because of poor design. have little actual use, have serious flaws, or simply have incompetent developers. Even established cryptos like BTC and ETH have had such accusations hurled at them. Just because the financial elites are against cryptos and would prefer people to stick to bonds and stocks does not mean that they have no use for cryptos. The independent cryptos like BTC and ETH are precursors to what what be introduced by the financial elites such as CBDC'S or Central Bank Digital Currencies. The CBDC'S will build on technology developed by independent cryptos. The independent cryptos also serve to get people used to digital assets and accept CBDC'S when they are introduced. Many countries have started to develop CBDC'S and a few has introduced versions on a trial basis. Countries can try to ban or clamp down on the independent cryptos but its people will still use them. So what countries will do is to introduce their own national cryptos in the form of CBDC's and encourage their use. China is at the forefront with a digital Yuan which was launched a few years ago and was used during the Olympics Games hosted by China. Initially individual countries will introduce their own CBDC'S. Eventually the national CBDC'S will be replaced by a global CBDC. How is this likely to come about? I believe that discriminatory taxation will be used. Different tax rates can be applied to different cryptos. For example a prohibitive tax rate of say 60% can be levied on independent cryptos while a tax rate of say 20% is levied on CBDC'S of other countries and a negligible tax rate is levied on its own national CBDC. Once CBDC'S have become widely accepted and used, they will be replaced by a global CBDC. One possibility of the global CBDC is a digital SDR issued by the International Monetary Fund (IMF) SDR or Self Drawing Right has existed since 1969. SDR is a topic that deserves a separate post that that I will make. I will give a brief description in this post. SDR is a form of reserve currency or asset given to countries. It is not used by countries and not by individual people. It was given by the IMF to countries free of charge in 1969. Countries which do not use the SDR that they have earn interest while countries in need of fund can borrow SDR. When global liquidity crisis occur, IMF issues new rounds of SDR to the countries of the world. There will come a time when the world economy is so bad or is so short of liquidity that the IMF will have to save the world by issuing a massive amount of SDR. Instead of being used by countries only, a digital form of SDR will become a global currency used by everyone replacing all the paper fiat currencies and national CBDC'S in use at that time. We will than have a digital One World Currency that can be used to control and monitor everybody.