Russias Plan To FREEZE YOUR SAVINGS is About To SPREAD To The Rest of the World | EP 1583

**SPEAKER_1** (0:02)
Yesterday was the day that 143 million people woke up inside a digital prison. Two insane laws went into effect in Russia on the same day. One involved Bitcoin, and the other involved a CBDC. Now, what's even more interesting about these laws, they look like they come straight out of the World Economic Forum's Orwellian Playbook. Now, most people wouldn't think Putin is in line with Davos, but why is he rolling out the exact digital prison that the entire Western world has been talking about and working on? And before I even get to the laws, remember this little thing that happened. You know, it's happened multiple times, but Putin talking at Davos, this was in particular 2021, literally posted on the World Economic Forum. So hey, we're not necessarily just tinfoil hatting on you guys today, all right?
There is a very clear connection. Now, actually, before I go on, you may think that these two laws aren't really connected at all, because one's involving a CBDC and one's involving the Russian version of the Bitcoin Clarity Act, but I'm gonna make the case that like, I think they're completely involved. It is a one-two punch, okay? So let me start with the first one. So for everyone in the chat, this happened, this was actually posted the 31st of August, but it went live September 1st, so literally yesterday. And I don't know which bank this is, but Russian bank, it's in Russian. And it goes, Digital Ruble Launch.
Major banks and retail companies will open their infrastructure to work with Digital Ruble starting yesterday. Starting from this date, citizens will be able to use the new form of national currency if they so desire. It's a choice, it's an option, if you so desire, use the CBDC. To do so, they must open an account on the Bank of Russia platform, the national bank. This can be done in the, quote, Digital Ruble section, which will appear in the mobile app. So banks connected to the platform. Individuals or companies will have only one such account, while sole proprietors will have two. One for their individual use and a second for their business. Now here's where there's literally a number connection. Because individuals will be able to top up their Digital Ruble account from their bank accounts by up to 300,000 rubles per month, which is roughly around like $3,500 or $3,400-ish dollars.
300,000 rubles. I mean, I saw numbers like 3,400 on the low end and 3,700 on the higher end. So roughly around $3,500 a month.
You can use about $3,500 a month in digital rubles. So capital controls and limits on how much money you can use. Interesting, right? There is no top-up limit for businesses. Both individuals and companies will be able to manage all savings in their digital wallets without restrictions. Transfer between individuals and companies will be available, as well as payments to and from the budget purchase payments and refunds.
There are also banks that aren't legally required to open the infrastructure this fall, but want to offer digital ruble services now. And the regulator has given them this opportunity. All payments and transfers in digital rubles are free for individuals. Hey, at least your payment fees are free, right guys? I mean, hey, CVDC is for the win. Businesses will benefit from a grace period until the end of the year. No fees will be charged for payments and transfers. Starting in 2027, though, fees for individual entrepreneurs and companies will be the lowest on the payment market. So again, official press release from the Bank of Russia launching the digital ruble, which is a CVDC. Obviously, we've been talking about this for a while, that a digital currency, a central bank digital currency is on the horizon. Yes, maybe you, if you're in the Western country, you're like, it's never gonna happen in my country. That's happening in Russia. They're authoritarian, et cetera, et cetera, et cetera. But we know what the ECB has been saying. Yes, there's been a bit of a discussion in the US, to put it lightly. They have apparently banned CVDCs in the US, but that's still kind of up for debate, right? So CVDCs are officially here. It's not just in China. Now it's in Russia, which you could argue are, what do they call them now? The Axis of Evil, or whatever they call them now? The BRICS Nation. I forget, they have a name for it. Whatever, whatever. Anyways.
Now, so, officially launched a CVDC in Russia, right? That individuals can opt into. It has cap limits, 300,000 rubles a month. And I want you to keep that number in mind, because it does directly connect to the Bitcoin laws, quote unquote, that also launch on September 1st. They're official now. So they launched a digital ruble, a CVDC, central bank digital currency. And at the same time, as we've been covering on the show, Russia had, for all intents and purposes, at least from a PR perspective, front ran the US in terms of the crypto market structure or the Clarity Act. So Russia essentially fast tracked their own version of the Clarity Act, which as I've covered, doesn't really benefit the Russian people at all. It's actually kind of an atrocious law, but let me get into that now. So this is what also went live in Russia on the very same day.