As opponents of central bank digital currencies (CBDCs) are getting more vocal in their criticism of this type of digital version of paper money that many countries are either adopting or are close to doing so. This is one of the pillars of financial globalism, the International Monetary Fund (IMF), has made its stance very clear.
The IMF’s Spring Meetings this year saw the announcement of the organization’s own, “international central bank digital currency” called the Universal Monetary Unit (UMU, aka Unicoin).
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The IMF said in a statement that UMU functions like a CBDC and is a legal and global money commodity. The purpose of this particular iteration of a CBDCs is to make sure banking regulations are enforced, as well as to protect “the financial integrity of the international banking system.”
This currency will be used by banks via SWIFT codes and bank accounts linked to a UMU digital wallet.
The scheme is supposed to allow for digital cross-border payments modeled after SWIFT, and promises best wholesale exchange rates of settlement currencies and real-time settlement, “while bypassing the correspondent banking system.”
At the same time, IMF officials are describing the current cross-border payment system as slow, expensive, and risky, while declaring that UMU’s goal is not disruption of the international monetary system – such as it is – but rather, to further “strengthen” it.
Not only that, but the IMF looks set on rebranding the term “crypto” – normally associated with decentralized digital currencies that leave central banks and governments out of the equation. “Crypto 2.0” is how the IMF would market UMU, and likely, CBCDs in general.
Meanwhile, critics of CBDCs are using strong words to express their opposition to the trend, with some calling it a path toward financial slavery that is always a handy companion to political tyranny.
More criticism has to do with CBDCs being seen as a way of introducing social credit scores and digital IDs, thus having individuals fully ceding to the government control over their own assets and/or the amount they spend.
Unlike cash and decentralized crypto, CBCDs are feared to spell the end of private financial affairs, and usher in even more surveillance by the authorities.
Article cross-posted from Reclaim The Net.
Independent Journalism Is Dying
Ever since President Trump’s miraculous victory, we’ve heard an incessant drumbeat about how legacy media is dying. This is true. The people have awakened to the reality that they’re being lied to by the self-proclaimed “Arbiters of Truth” for the sake of political expediency, corporate self-protection, and globalist ambitions.
But even as independent journalism rises to fill the void left by legacy media, there is still a huge challenge. Those at the top of independent media like Joe Rogan, Dan Bongino, and Tucker Carlson are thriving and rightly so. They have earned their audience and the financial rewards that come from it. They’ve taken risks and worked hard to get to where they are.
For “the rest of us,” legacy media and their proxies are making it exceptionally difficult to survive, let alone thrive. They still have a stranglehold over the “fact checkers” who have a dramatic impact on readership and viewership. YouTube, Facebook, and Google still stifle us. The freer speech platforms like Rumble and 𝕏 can only reward so many of their popular content creators. For independent journalists on the outside looking in, our only recourse is to rely on affiliates and sponsors.
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Independent media is the future. In many ways, that future is already here. While the phrase, “the more the merrier,” does not apply to this business because there are still some bad actors in the independent media field, there are many great ones that do not get nearly enough attention. We hope to change that one content creator at a time.
Thank you and God Bless,
JD Rucker
