IMF Has Just Unveiled A New Global Currency Known As The “Universal Monetary Unit”

a reply to: socialmediaclown

Yes, the downside is they're all debt slavery systems.

I guess you don't actually have much money. People who do know that money liberates as much as it enslaves.

If you can make a world without money work, I'm your man. But you can't and you won't, and no amount of whinging about fractional-reserve banking and fiat currencies and gold standards will change that. The train you're chasing left the station before Hammurabi published his laws.

I am uninterested in off-topic discussion about fundamentals. I joined this thread to post some information and I am leaving it now. Good luck.

The drug dealers are going to have to be inventive.

So dumb, nobody care because it is from the IMF (the West).
Digital stupid !

originally posted by: ITSALIVE

originally posted by: SecretKnowledge
Anyone tried to open a bank account recently?

I still havnt got one i detest the vermin leeches.
They actually seem like they dont want to give you one, it was ridiculous and head wrecking.

But needs must so imma goin to the credit union tomorrow to sort one out.

I would take a leap your poor financial decisions have made challenging for you. They want to issue an account to you, they have your money and a customer who they hold your assets.

Haha very funny.

Ive worked all my life in the building trade. And you should know how we like to get paid for our hard worked labour now dont you?
I need an a/c to play online poker.
I dont work a hard day to give half my money away gtfo.
Nobody has no hold on my money you gotta be kidding me pal.
Ive said enough

Trick to all currency is that it has to be accepted.

My old Kings Island Scooby Bucks? Worthless.

You won’t trade your knife for three eggs? Worthless.

Arby’s 5 for $5 is now 2 for $7? Worthless.

And so on.

originally posted by: underpass61

originally posted by: Notabot12345666
a reply to: infolurker

Universal monetary unit? So we’ll call it an umu? Boo...

They're saying, "Unicoin" which sounds even stupider.

Don't worry, it's all Unicoins and Rainbows!

a reply to: Astyanax

Money does not liberate. It is debt slavery. It's attached to no value except what you place on it. The term "financial freedom" is an oxymoron.

A world without money? Maybe. Money isn't the only form of currency on this planet.

originally posted by: vNex92
I dont believe precious metals is something IMF can control over.

Wrong!

They will take what they want. They did it once. They can do it again.

The most fundamental problems the people who want to issue the umu have got surround something called seigniorage , which is basically theright to issue currency or to profit from the creation of currency , such as when gold is minted into coinage worth more than the gold.
Seigniorage is usually basef on the publically accepted right of sovereigns ie monarchs , or similar powerful hegemonic factions, hence coinage have heads of recognised figures.
Proving seigniorage ( even if the public don't have a clue what that is ) is going to be the central problem of issuance here , because some unheardof global faction just inventing some new money and expecting everyone to just spend it instead of their usual maths requiring numbercrunxhing, won t feel right to anyone. They'll all complain and question it .
The only recourse to effectively claiming seigniorage (which is what dcma grouping hasapparently done now, without effectivity, according to the op ) they've got is probably some hearkening towards democracy , global cooperation , world peace or similar. They don't have the powers of kingship , they don't have the sovereignty of nations , not as a group , they don't have the confidence of the global public , or the recognition. They've talked of issuing a cbdc that's only for intermational corporate exchanges first and that might work as a forerunner but its not necessary as the swift system covers it adequately already anyway.
I think they'll come a cropper with this as they can't roll out some newfangled Internet currency just on a whim like that. Its like pretending there wasn't history , alot of financial / monetary history serving as example. And simply put at least cash is low tech enough to be failsafe , this won't be , it doesn't have the legs to go the distance unless its forced on the world at speed.

a reply to: ShouldersofGiants

How would they be able to roll out a global, centralized digital currency...

Central banks of several countries sandbox CBDCs, implementing the blockchain system and performing test runs for efficiency

Black swan event sends world into a global economic crisis

Governments enact emergency powers and regain economic stability through the initiation of a new digital financial system

a reply to: socialmediaclown

That problem - reaction -solution method might work for creating globally issued digital currency we all have to use , but as it is I'm told we won't be spending in universal monetary units anyway , not as the public. It'll first be a measure of wealth and or perhaps a means of exchange for large international corporate transactions. Adding a new currency to the international system won't have much effect on the general state of affairs , similar to the existence of bitcoin or the Facebook unit Also a central bank currency , this one , is going to be for Central banks and bank business as long as everyone accepts the seigniorage , of which the BIS already has some standing as an established institution itself, albeit privately run and having no parallel alternative operator. Whether umu might serve to hide the true value ( or complete lack thereof ) of special drawing rights remains to be seen , but accurate dollar conversion is always going to belie the truthat least for for now .

I googled "IMF",
but all i got was a bunch of movies and tv series...

"Universal"

I doubt the Grays or the Reptilians are going to use it. The Nordics might.

Exactly OP. Who are these people?

For that matter, who are all the people who work at the DTCC? The Federal Reserve? All of our major banks?

How did they get the job? Were they elected by a popular vote or is absolute power over our currency handed out by someone? Who hands out that power and why do they have that much power?

CBDC needs to be opposed on principle. No person or entity should have this much power over a nation's currency. The power to issue money should be held by Congress alone.

I'm going to be giving all of my money and support to decentralized crypto currency. # this system and the assholes who run it.

a reply to: peskyhumans

Do you remember Ruth Bader Ginsberg ? There's a good clue in the name , it's origins.
Did you know Trump apparently cried when she died ?
I can believe that.
Although they come from a place where there endless wealth their services are in a way a debt to the world , that they're paying by organising the world for us. They've been in charge of money itself for many many years and they make society what it is , they mould the peoples living for them .
You have to ask , are they doing a good job of that ? Is the general well of the world improving ? What challenges do they face in keeping financial syabilty and therfore stable government ? I'd suggest they're multiple , and I'd also say that world isn't fronting an alternative in general. The positive money people know the world is entirely controlled by banks giving them massive power and suggest a world based on actual value iexchanges nstead. But I'd say be accepting of it we perhaps wouldn't be so progressive if that wasn't the way it worked . They don't seem to be bad people. They pu lush figures . If you wanted to join them running money itself , globally , they probably give you job. Down in Switzerland if nowhere else . They haven't really ruined everything and they haven't taken more than Islands to themselves , realistically speaking. You can't cross the rulers of the world, and if you wanted to fault them then get figures out . But that's irrelevant still , this is the elite werectalking about not just someone or anyone you may have heard of regularly. They're just the puppetshow that does the dogwork , or then dogenverken , whatever those swiss dudes say.

Interesting news. If you put your trust in the lord he always provides and will never fail you. Matthew 10.

originally posted by: MykeNukem
I keep saying that CBDC coupled with Digital ID is the end of any semblance of freedom.

That isn't possible with the underlying platform of Digital ID. Could it be changed? Possibly. But that would need, at least in the US and Canada, an individual state/province legislative initiative.

Who will be more interested in knowing your ID in relation to your spend will be merchants/businesses. They are already asking for this type of insight.

originally posted by: socialmediaclown
How would they be able to roll out a global, centralized digital currency...

Central banks of several countries sandbox CBDCs, implementing the blockchain system and performing test runs for efficiency

You can't. You would need to convert your own sovereign DC into this DC and then back into the final DC.

a reply to: AugustusMasonicus

You can't?
www.swift.com...