MBridge: the greatest threat to the hegemony of the USD

link to coindesk article (hyperlink was broken)

There are more ongoing cross-border CBDC trials with cute names than one can possibly keep track of (such as Cedar, Icebreaker, Jasper, Mariana and many more). But one stands out: the mBridge project. Why? For the following reasons:

- It involves 23 central banks, including the BIS (the official organization for central banks)
- It is designed to bypass the US dollar-based global financial system
- It is almost ready to go live

Noelle Acheson is the former head of research at CoinDesk and Genesis Trading, and host of the CoinDesk Markets Daily podcast. This article is excerpted from her Crypto Is Macro Now newsletter, which focuses on the overlap between the shifting crypto and macro landscapes. These opinions are hers, and nothing she writes should be taken as investment advice.

Assuming it meets its target schedule, mBridge is set to become the first functioning blockchain-based payment platform involving official entities. Its nucleus is in Asia, but organizations from all continents are also involved. And while it is unlikely to knock the dollar off its global reserve currency perch, it could end up impacting international flows, trade agreements and the power of sanctions.

[...].

en.wikipedia.org...

Icebreaker In March 2023, the Bank for International Settlements, in collaboration with the central banks of Israel, Norway, and Sweden, completed the Icebreaker project, which examined the technical feasibility of using retail CBDCs in international payments.

IMO it seems the elite know they can't save the dollar and are already putting in action a back-up plan.

This is being adopted by too many people to not have consent by the ruling elite in the USA.

The bank of international settlements? Israel is on board too?

Like rats fleeing from a sinking ship they will transfer their wealth to the new system, and stand idly by while the USA economy collapses and 300+ million people suffer as society collapses and burns around them. Our so-called leaders feel no loyalty to this country and do not care about the well-being of the peasantry. They used us up, and now they will kill us off and loot our corpses.

This is the economic final solution to the "Great Society" pioneered by Lyndon B Johnson and the elites who assassinated JFK. They took our currency off the silver standard, outsourced all our industry to China, gave the peasants credit cards, mortgages, auto loans, student loans, and the debt just kept piling up. They knew it was far too much to ever pay back. They knew the dollar would collapse. They didn't care as long as they were left holding all the plundered wealth of our once great nation.

The USA has over 30 trillion dollars of debt and just the interest on the debt will be 659 billion dollars for 2023. With a tax revenue of 4.4 trillion, how long before the annual interest payment is larger than annual tax revenue?

If you remember, the TCJA lowered the corporate tax rate from 35% to 21% causes a loss of tax revenue. This was the first priority of the rats - why continue funding a failed state when they could take their money and put it in the new system?

taxfoundation.org...

The Tax Cuts and Jobs Act in 2017 overhauled the federal tax code by reforming individual and business taxes. It was pro-growth reform, significantly lowering marginal tax rates and cost of capital. We estimated it reduced federal revenue by $1.47 trillion over 10 years before accounting for economic growth.

(ran out of space)

Our "representatives" don't represent us they represent their own greed. Judge them not by their words, but by their actions. This is what they are doing - they lowered the corporate tax rate, printed money to the point of near hyper-inflation, and are rapidly setting up and funding the new world currency which will be digital and is backed by all the major world powers, the central banks, and the BIS.

They do not care that the debt is unsustainable. They do not care the federal tax revenue decreased by over 20% from their tax cuts. They do not care that the USA in on a railroad track barreling towards a sheer precipice of doom.

All they care is that they come out richer than ever, and if hundreds of millions have to suffer or die for that to happen, so bet it.

When the USD jump off the gold standard 40-80 years ago it did create a big increase in the currency supply. At the time this worked out great as post WW2 America was all over the planet and helped build an international standard currency unit. Previously it was London, then Rome.

With how the USD is build, it is based on growth. While the population keeps growing, it soaks up all this new money and keeps things moving. A big die off will add to inflation pressures.

There are a lot of cryptocurrencies out there these days. Tough job sorting this out, at the hands of market forces. First I have heard of mBridge, with Israel on board it sounds like a contender to the system BRICS are working on. It might just help keep the USD relevant in America if it works.

a reply to: kwaka

The USA is and will be relevant after the crash.

This is the 1st I have heard of Mobridge.
If it is FED backed it is just one of their last attempts to be relevant.

When Congress voted to outlaw the FEDNOW cbdc from being used in any US bank it was over for them.
SWIFT is now operating without a petrodollar and BRICS is trading Russian oil and gas using the gold backed Chinese yuan.
And XRP Ripple is acquiring contract after contract for country-country cross border transactions.

The FED is dead.
FIAT currencies are dead.
BASEL3 treaties are now signed into law and in effect.

The inevitable crash is near and the Phoenix will rise from its ashes.

The fallout from creating the FED lead to global depression 100 years ago.

And this is crazy to me but I sense it is true..., this crash will introduce a new system that will cause the greatest transfer of wealth the world has ever known and a boon economy with record recoveries and a boon economy for all Nations all at once.
No more blackmarkets, money Laundering, drug trafficking and wars fought and financed by fiat(printing money from nothing).

QFS for the win

Oh, I reserve my right to change my opinion on Mobridge.
I know nothing about it other than it looks to be another try by the FED to be relevant now that they are rejected by SWIFT and USA banks

Our country was doomed the moment we were pulled off of the gold and silver standards by FDR and..... was it Nixon? Reagan? Whoever the second guy was that put the final nail in the coffin.

That tax cut was probably the last attempt at fixing things that we will see - they estimated lower tax income based on lower rates, but didn't estimate the higher tax revenue due to less amounts of greedy bastards taking advantage of loopholes and hiding money overseas (less taxes owed, but more people actually paying them)

Pretty much everything that's happened over the last few years has been nothing but blatant attempts to tank the economy.

The FED ADMITTED that they didn't think their rate increases would affect prices of anything. Their approach to stability flies in the face of everything logical, to anyone with a brain.

The rampant destruction of businesses and the housing market, too.

Now there's yet another crypto currency coming out to boom in popularity; all of this after the meet in Africa with the BRICS nations to set up another currency. Let's not forget the sanctions and Ukraine BS that screwed the entire planet. Oh, and a million other Currencies out there.

I want off of Earth now. Can we go to Mars yet? I wanna go to Mars.

originally posted by: kwaka
When the USD jump off the gold standard 40-80 years ago it did create a big increase in the currency supply. At the time this worked out great as post WW2 America was all over the planet and helped build an international standard currency unit. Previously it was London, then Rome.

With how the USD is build, it is based on growth. While the population keeps growing, it soaks up all this new money and keeps things moving. A big die off will add to inflation pressures.

There are a lot of cryptocurrencies out there these days. Tough job sorting this out, at the hands of market forces. First I have heard of mBridge, with Israel on board it sounds like a contender to the system BRICS are working on. It might just help keep the USD relevant in America if it works.

Consider congress voted in 2017 I believe it was to no longer peg USD with the petrodollar.
And now the USD petrodollar is not being traded with SWIFT.
When we went off the gold standard we pegged USD off the petro dollar and anybody who traded in oil was forced to use the petrodollar.

And now BASEL3 requires hard assets like gold, silver, etc.. to back the currency for country-country trade.
At least 10% of a currency has to have hard assets(schedule 1) on the books.
As big as it was 100 years ago when the FED was created.

It will be way bigger and greater when the FED is replaced.
And that is happening now irt.
It is a new day.
The old is being replaced by the new.



FED=debt slaves

Cognitohazard Detected!

Nice post!

a reply to: FarmerSimulation

Consider congress voted in 2017 I believe it was to no longer peg USD with the petrodollar.

It was the US military that was able to enforce the terms of the petrodollar. With more nations gradually moving away from trading oil in USD, not much congress could do about it unless they want to take the world on.

And now the USD petrodollar is not being traded with SWIFT.

Russia got kicked out of SWIFT a couple of years ago, the USD is still trading there. I don't know much about the oil contracts going through SWIFT.

It was our own government the one that allowed the USD to go down, all to but kiss the banking system and to empower the global elites.

These entities has found a way to control the wealth of countries, but they have not finalized the take over yet.

a reply to: FarmerSimulation

No more blackmarkets, money Laundering, drug trafficking and wars fought and financed by fiat(printing money from nothing). QFS for the win

If you really want to eliminate black markets, then legalize it. Otherwise people will find a way to exchange for the things they want as it just gets pushed underground. With some of the privacy cryptos emerging it is one option, there are many other assets that could also be used, like gold and silver that will continue to bypass any direct digital controls that try to get implemented.

The QFS sounds like a messy one taking massive resources as it tries to digitize everything. Dealing with errors and incorrect data is going to be a big challenge for it. The Australian government had recently stopped its Robo Debit program. It did find a lot of people exploiting the system, but also brought a lot of hardship to those wrongly convicted.

It is a tough one trying to get a clear picture on how 8 billion people trade and interact every day. Those that are good at it also get a hard time from those with something to hide. Do you really think the US Pentagon is really missing Trillions of dollars? Or just don't want that information made public?

With how money works, it is a way to allow the individual to support the business that work for them and grow the economy from the grass roots up. To have a central top down approach to all economic matters it a totalitarian power play. Some global control and organization is needed for the globe to transact sustainably. With how much power and exploitation goes on, a lot of eyes on it helps keep things honest.

a reply to: kwaka

Block chain.

The downside is huge.
It has to be managed by AI.
Block chain eliminates blackmarkets, money Laundering and wars fought by printing money.
Almost every major war has been financed by fiat since Venice and the tulip affair.

The FED was issued a 99 year charter to issue our currency. It was ratified by congress in 1926.
There is a 1 year transition period to transfer administration, management and accounting.
That happened last year.
The FED and IRS is now absorbed into the Treasury Dept.

The FED is dead.
Basel3 requirements are 10% schedule 1 assets for money loaned out.
XLM, XRP are backed by gold.
Chinese Yuan is backed by gold.
The $100 note in your wallet is the last series to ever be printed.
You are getting the Republic back.

It will cost $.00058 to make a transaction.

The FED printed money for pennies.
Sold 20 year bonds for the money they printed.
And then kept the bonds when the note matured.
Special Forces is said to have confiscated $58 QUINTILLION in gold bars from the catacombs beneath the Vatican and the tunnels under Buckingham Palace as a result of EO13818 and EO13848.

That is how much graft and usury wad taken from the proceeds by creating USA INC. from the act of England of 1871.
That was ratified by congress in 1876.

They give those charters in 99 years with 24 or 49 year extensions.

As much as I fear AI control.
Debt slavery is no alternative.
The top 1% own practically all of it as a result.

NESARA/GESARA is a better alternative in my opinion.

Wars in the future will have to be fought with sticks and clubs.
No more fiat.
Basel3 is law now.

After devolution our government will be downsized and a flat tax of 15% will be set for non essential luxury items.
Food, clothing, shelter will be untaxed like before.

This will all be run through starlink and managed by Space Force controlling the Tech sector that will run through starlink.
You will be voting, surfing the net, buying and selling through blockchain.

Crankyoldman showed where David Schwartz of XRP/Ripple filed the patent to replace the FED currency in 1981. 2 years before Microsoft happened.
They all knew this day was coming and preparing for it for decades.

Human trafficking is supported by bitcoin and its anonymity.
That is ending.
Proxy wars are ending.
Money Laundering is ending.
The Mexican cartels ending.
Block chain ends all of it.


Because of Biblical prophecy I have been dead set against a global currency because I equated it to the tribulation and the mark.

But now I realize it is prophecy because it is an inevitable outcome when the world realizes all the evil that is done as a result of Babylonia money majik.

It is the times we are living in where we do what is right in our own eyes forsaking His will that promotes evil.

So here is the deal.
$.00058 per transaction VS. $58Quintillion stolen in 100 years by creating debt slaves out of all of us.

What I see coming is 15 minute cities with a generous UBI and permission needed to leave them.
And you will be required to be chipped.
The majority of the last few generations will embrace this.
There will be a form of meritocracy for those that want more.

Inventors and entrepreneurs and the more introverted types will be involved with markets that derive from the humanitarian projects that are about to be funded.
Whether it is the QFS, the GCR or NESARA/GESARA.

For that matter even the theosophists that are preparing for Maitreya all say that the coming focus and financing will be for humanitarian ventures.
That will be the new economy. Not shiny objects and plastic Chinese trinkets.
And all this began Jan. 1st, 2023.

The greatest transfer of wealth in the history of man is about to take place.
The 1% lose. We gain.

But since I believe this year is the beginning of the 69th week of Daniel's vision.
The 70th week being 2030.

We have about 3.5 years of unprecedented prosperity and a boon economy that will seek to lift everyone up.
To quote Maitreya with his mantra.
"Share and save the world".
But all he'll will break loose, literally. The Sunday laws will be mandated and enforced.
Yeah, block chain.
It is here.
When it comes to the food chain it solves the problem with the FDA being a depop tool corrupting our food to make us sick and docile.
Farmer to fork where you can identify the farm it came from and is far superior to trusting the fda and food processing facilities in regulating.

Elon Musk bought Twitter because his plans for online payment system is accelerated by 4 years because of the existing infrastructure.
He is also involved with boxable homes and even lived in one.

For all this to happen they must remove the corruption.
They have already begun.
It is going to be a year of disclosure.
When that is done they will not be able to walk down the streets safely.
Children are bought, sold, raped, abused, tortured, eaten, organs harvested, etc. at an industrial level and exposing this will be what unites us, for a time.

It is for this reason I must take a stand at this time in history.
If not now, when?
If not us, who?
We are coming to a time where every single person is going to be challenged to decide one question.
Whom do you serve?

Block chain is not the evil.
We are.
We need to be the good now.
Even if it is for a time and a season.
$58 Quintillion (proceeds from graft, usury, human trafficking, sickness industries, and more)
.00058 cents per transaction.

# fiat
(I just used the fbomb and it censored me. Has that always happened??????)

a reply to: FarmerSimulation

NESARA/GESARA is a better alternative in my opinion.

I do like the concept, national and global economic security is a good thing to be concerned about in todays environment. As for how practical it is, looks on par with voting security,

.00058 cents per transaction.

Which crypto is that? As energy cost come down and infrastructure is in place, cost do reduce. Bitcoin is King, first out the gate with everything thrown at it, crack that and all the rest are down hill, cannot handle the transaction demand of common use for everyone. XRP looks strong in keeping the banking community together, lot of hard lessons gone into making those regulations. As for the rest, at the hands of market forces as the bulls and bear fight it out.

With the gold market, IDK? Lots of stories. As for one tradable asset it gets things done. For those in the space race, it is a good, stable element to work with, has a place.

Children are bought, sold, raped, abused, tortured, eaten, organs harvested, etc. at an industrial level and this will be what unites us, for a time.

Sounds like you know about Ronald Benard and his situational awareness. Trumps EO stopped at the international market, Monopolizing the market is the current result, still tight with Israel in how it is playing out. China is big on those organs too, they kick butt on trade while the money is there.