In the White Horse Prophecy, Joseph Smith the Prophet said:

The White Horse will find the mountains full of minerals and they will become very rich. You will see silver piled up in the streets. You will see gold shoveled up like sand. Gold will be of little value even in a mercantile capacity, for the people of the world will have something else to do in seeking for salvation. The time will come when the banks in every nation will fail and only two places will be safe where people can deposit their gold and treasures. These places will be the White Horse and England's vaults.

If everything is done digitally, and everyone is given a "cloud wallet", then there really is no need to have banks at all. Perhaps things are starting to play out the way Joseph Smith was shown by the Lord.

The following is an AI generated summary of the 15-minute video shown above, which was published on April 20, 2024 by Redacted’s YouTube Channel.

Impact of Banks Moving to All-Digital Future

  • Cash withdrawals are becoming increasingly difficult at local banks in several Western countries, where customers are being questioned about their withdrawal purposes and sometimes denied access to cash.
  • The refusal by banks to provide cash may be a tactic to avoid disclosing the lack of physical cash in their reserves.
  • Banks aim to prevent the occurrence of bank runs, where many customers simultaneously withdraw their funds due to a lack of confidence in the financial system.
  • The International Monetary Fund (IMF) warns of the risks posed by cyber incidents, emphasizing the vulnerability of the financial sector to cyber attacks and the potential for such attacks to trigger bank runs.
  • To mitigate these risks, the IMF suggests transitioning towards an all-digital financial framework, eliminating the need for physical cash transactions.
“Sorry you’re not getting any cash today. Of course the real reason she’s asking that question is because she’s trying to avoid at all costs having to admit the fact that they don’t actually have cash in the bank anymore.”

Digital Currency and Cybsercurity Concerns

  • The government, through legislation like the fiso law, is getting involved in cybersecurity to prevent infiltration of American businesses and manage potential panic in the banking industry.
  • Small businesses may struggle to afford high-tech cybersecurity measures, leading to potential monopolization by larger corporations.
  • The move towards a cashless society is highlighted by the CEO of Bank of America, who expressed a strong preference for digital transactions over cash due to high costs associated with handling cash.
  • European Union regulations and discussions point towards a similar direction, with limitations on cash transactions and a shift towards digital transactions to enhance control and security.
“They hate cash. They don’t want cash. They want an all-digital future.”

Banking and Digital Transformation Impact

  • Bank of America’s CEO emphasizes the momentum towards a cashless society driven by popular digital payment methods like Apple Pay and Google Pay, with a significant decline in cash transactions being observed.
  • The strategic shift towards digital transactions aims to lower operational costs associated with handling cash and checks, with a focus on efficiency and fraud prevention.
  • The implications of a fully digital banking system include reduced human involvement, potentially leading to a future where AI plays a crucial role in banking operations, limiting the scope for human whistleblowers.
  • The digitalization of currency raises concerns about vulnerability to cyberattacks and the ability of authorities to control transactions, with implications for individual privacy and financial autonomy.
“We hate cash. We want a cashless Society.”

World Economic Forum and Digital IDs

  • The World Economic Forum’s agenda leans towards a future focused on digitalization, including the adoption of digital IDs and a push towards a digital wallet system for enhanced tracking and control of financial activities.
  • Reports highlighting historical backgrounds of influential figures shedding light on potential motivations for digital transformations in the finance sector.
  • Concerns over privacy and surveillance are raised concerning the implementation of digital IDs and the manipulation of digital infrastructure by powerful entities.
  • Emphasis is placed on understanding the implications of digital IDs on monetary systems and the broader influence on global financial landscapes.