In case you did not know, the CFR is America’s foreign policy think tank. It is a long-established deep state kingpin that holds an obscene amount of power over national and global affairs, including over the U.S. State Department. The CFR also works in tandem with other deep state entities such as the Bilderberg group and the Trilateral Commission.

This past week, the CFR published a video in which Peter Trubowitz discussed what he believes are the reasons for the current rise in anti-globalism in Western countries and what it means for both the current and emerging world orders.

Trubowitz is a professor of international relations and director of the Phelan U.S. Centre at the London School of Economics, as well as an associate fellow at Chatham House. Chatham House is also known as the Royal Institute for International Affairs, and it plays a key role in the United Kingdom’s deep state apparatus.

Recognizing the current turn to “economic nationalism,” James M. Lindsay, senior vice president, director of studies, and Maurice R. Greenberg chair at the CFR, asked Trubowitz why he believes it is important to try to salvage the current international order, also known as the rules-based order.

“In the nineties when the U.S. and other Western democracies embraced what economists call hyper-globalisation [they] made a huge bet on supernationalism,” Trubowitz responded. “In opposition is frustration with the sovereignty costs that supernationalism entails.”

“We’re not going to be able to go back to the post-war, World War II, liberal international order. And those who are pining for it, I think are kind of barking up the wrong tree. What we need to do is to re-imagine the relationship between foreign and domestic policies.”

(Related: The globalist cabal is making its final moves to implement a Great Reset agenda followed by worldwide totalitarianism.)

Globalism is destroying the world

One day after this interview with Lindsay and Trubowitz took place, Kristalina Georgieva, managing director at the International Monetary Fund (IMF) talked about the same subject at the CFR’s Stephen C. Freidheim Symposium on Global Economics with CFR President Michael Froman.

Before joining the IMF, Georgieva worked as CEO of the World Bank. Before that, she was European Commission Vice President for Budget and Human Resources, during which time she played an instrumental role in developing the agenda of the European Union (EU).

Stating that she believes the global economy is performing much better than economists at the IMF and elsewhere expected for a time such as this, Georgieva denied that there are any problems economically – at least for the rich.

“We have gone through unthinkable events – COVID, then Russia’s war in Ukraine, then the cost-of-living crisis, now a very serious crisis in the Middle East,” Georgieva stated. “And yet, we are not experiencing a dramatic economic shock.”

There are, though, things that keep Georgieva up at night, including the prospect of slow global economic growth over the medium term. Right now, growth predictions in this timeframe are estimated to be around three percent, which is lower than the 3.8 percent pre-“pandemic” average.

“Secondly, what worries us even more than that is a very dangerous divergence that is taking place in the world economy,” Georgieva added.

Some countries, including the U.S., seem to be performing a lot better than other countries.

“As this divergence accumulates, what we should fear is not only economic trouble but also security trouble.”

More related news coverage can be found at Globalism.news.

Sources for this article include:

• Expose-News.com
• NaturalNews.com

The IMF’s “Central Bank Digital Currency Virtual Handbook” published last week pointed out that the increased use of CBDCs can “reduce dollarization” of the global economy—a situation where countries move away from relying on the U.S. dollar as a reserve currency. De-dollarization would push up borrowing costs in the United States, making loans expensive for businesses and individuals, thus affecting economic growth. Stock market values can also crash, reducing the savings and investments of Americans.

In addition to de-dollarization, a CBDC “could increase risks of flight to safety from retail bank deposits in periods of market stress.” During times of market volatility, customers withdraw their deposits and move it into safe assets to avoid losing money in scenarios like bank collapses.

If CBDCs were available, pulling out funds from a bank and putting them in such assets will come across as a safe option for many people, thus triggering a bank run.

The organization pointed out that CBDCs could offer “a safe store of value and efficient means of payment, which can increase competition for deposit funding, raise banks’ share of wholesale funding, and lower bank profits.”

The IMF handbook was published as the organization’s Director Kristalina Georgieva promoted the use of CBDCs during the Singapore FinTech Festival on Nov. 15, arguing that such digital currencies could bring an end to the cash-based economy.

“CBDCs can replace cash, which is costly to distribute in island economies,” she said during a speech. “CBDCs would offer a safe and low-cost alternative to cash. They would also offer a bridge to go between private monies and a yardstick to measure their value, just like cash today, which we can withdraw from our banks.”

Back in May, Ms. Georgieva said that the world was heading towards widespread CBDC adoption without considering the risks involved in such a transition.

“What we are careful about is the choice between wholesale and retail CBDCs. We think that wholesale CBDCs can be put in place with fairly little space for undesirable surprises. Whereas retail CBDCs, they completely transform the financial system in a way that we don’t quite know what consequences it could bring,” she said during a discussion.

Wholesale CBDCs are meant to be used in interbank settlements as well as transactions between institutions and other market participants, while retail CBDCs are for use by the general population and other institutions.

A potential risk of retail CBDCs is that funds get pulled out from traditional commercial banks and deposited as CBDCs in central banks. The depletion of deposits will affect the lending ability of commercial banks, possibly worsening any banking crisis.

US Government CBDC

While the IMF pushes ahead with the promotion of CBDCs, Republican lawmakers are taking steps to prevent the U.S. government from issuing such digital currencies. In September, Rep. Tom Emmer (R-Minn.) reintroduced the CBDC Anti-Surveillance State Act.

In a Sept. 12 press release, Mr. Emmer pointed out that unlike decentralized cryptocurrencies like Bitcoin, CBDCs are designed and issued by a government “and [transact] on a digital ledger that is controlled by that government.” This could give the administration the power to “surveil Americans’ transactions and choke out politically unpopular activity.”

The bill imposes the following prohibitions:

• It prevents the U.S. Federal Reserve from issuing a CBDC directly to individuals, thus making sure that the Fed cannot mobilize itself as a retail bank and collect personal data of Americans.
• It prohibits the Fed from indirectly issuing a CBDC to individuals via an intermediary, thereby blocking the central bank from launching a retail digital currency through a two-tiered financial system.
• It bans the Fed from using any CBDC to implement its monetary policy. This ensures that the central bank is not able to use these currencies as a “tool to control the American economy.”

In March 2022, President Joe Biden signed an executive order asking the Fed to continue its ongoing research and experimentation of CBDCs and to evaluate the benefits and risks of a digital dollar.

Talking about the issue, Mr. Emmer said that “agency reports to that executive order have made it clear that the Biden Administration is not only itching to create a CBDC, but they are willing to trade American’s right to financial privacy for a surveillance-style central bank digital currency.”

“We’re not going to let this happen,” he said. The CBDC Anti-Surveillance State Act “ensures the United States digital currency policy is in the hands of the American people—not the Administrative State—so that it reflects our American values of privacy, individual sovereignty, and free market competitiveness.”

On Sept. 20, the House Financial Services Committee passed the bill.

Back in April, Federal Reserve Board member Michelle Bowman warned in a speech that a CBDC may pose “significant risks, challenges, and tradeoffs.”

There is a “risk that a CBDC would provide not only a window into, but potentially an impediment to, the freedom Americans enjoy in choosing how money and resources are used and invested.”

A CBDC could also lead to the politicization of the payments system, potentially undermining the independence of the Fed, Ms. Bowman said.

In May, Florida’s House of Representatives passed a bill banning the use of CBDCs in the state. The bill defined money to exclude CBDC. Weeks before the bill was passed, Florida Gov. Ron DeSantis had pointed to China as a potential example of how CBDCs could negatively affect people.

“Look no further than China, in seeing the impact of centralized digital currency,” he said. “The People’s Bank of China uses its central bank to monitor citizen behavior, allowing for the surveillance of spending habits and to cut off access to goods and services.”

Sound off about this on the Economic Collapse Substack.

Right now, the various currencies of the world are, for the most part, already controlled by unelected, private central banking cartels. A new IMF CBDC, however, would unify them all into one cashless cryptocurrency that everyone will be forced to use in order to buy and sell.

“If we are to be successful, CBDCs could not be fragmented national propositions,” Georgieva declared at a policy roundtable discussion with Bank Al-Maghrib in Rabat, Morocco about CBDCs.

“To have transactions more efficient and fairer, we need systems that connect countries. In other words, we need interoperability. For this reason, at the IMF we are working hard on the concept of a global CBDC platform to trade and to manage risks.”

Communist China currently has the world’s largest CBDC pilot program with 118 million participants

According to Georgieva, CBDCs offer “more people access to financial services, and at a lower cost, enhancing payment system ‘efficiency’ and ‘resilience’ and making cross-border payments ‘cheaper and quicker’ while reducing the number of needed intermediaries.”

If there are many different CBDCs, though, then there is a greater risk of “currency substitution and capital flow volatility,” she warned. This is why the IMF wants there to be just one single CBDC that is used by the entire world, which Georgieva says would enhance “international economic stability.”

Even without CBDCs, Georgieva said that “economic integration” under a new global world economic order is still possible. Still, if CBDCs are only used domestically rather than internationally, “we are under-utilizing their capacity,” she alleged.

When asked when the IMF plans to unleash a global CBDC, Georgieva dodged the question and apparently starting talking about something else entirely. She did, however, indicate with a smile that 114 central banks are in the process of at least exploring CBDCs, and that 10 have already “crossed the finish line,” the biggest one being in communist China with 118 million participants.

Georgieva revealed three primary “policy” challenges that exist in bringing to fruition a cross-border CBDC payment system. These include “common settlement asset,” “common legal and regulatory frameworks,” and “shared infrastructure,” all of which she claims can be remedied with the rollout of a global CBDC.

Back in April, the IMF announced the creation of a CBDC handbook that central banks and governments around the world can use to assist with their national CBDC rollouts. Former People’s Bank of China deputy governor and current IMF deputy managing director Bo Li indicated that this handbook will “hopefully help countries make as well-informed decisions as possible” regarding their respective CBDC programs.

Li further revealed, and quite boldly, that CBDC transaction data can be used to enforce social credit scoring systems similar to the one that controls people’s behavior in communist China.

“Those transaction data in terms of how many coffees I drink every day, where I buy coffee, do I use UBER every day and what kind of working hours I have,” Li said last October. “Those non-traditional data can be very useful for financial service providers to give me a credit score.”

According to Sam Callahan, a lead analyst for Swan Bitcoin, the Bank of International Settlements (BIS) has been in the process of designing an international CBDC program, or a “multi-CBDC system,” since 2020 when everyone was distracted by the Wuhan coronavirus (Covid-19).

Are you ready for the global CBDC the powers that be are readying to implement? Learn more at DollarDemise.com.

Sources for this article include:

• LifeSiteNews.com
• Newstarget.com
• NATURAL NEWS

IMF managing director Kristalina Georgieva told conference participants on Monday in Rabat, Morocco, that the transnational agency is developing a global platform for central bank controlled digital currencies.

“CBDCs should not be fragmented national propositions … To have more efficient and fairer transactions, we need systems that connect countries—we need interoperability,” Georgieva said. “For this reason at the IMF, we are working on the concept of a global CBDC platform.”

Georgieva said the IMF wants central banks to reach a consensus on a common global regulatory framework for digital currencies that would give global adoption a major boost.

The IMF believes that the absence of a global platform on which various countries’ CBDCs can interoperate would make a weaker case for their use and cryptocurrencies would step in to fill the void. CBDCs are controlled by central banks, while cryptocurrencies are generally decentralized.

“If countries develop CBDCs only for domestic deployment, we are underutilizing their capacity,” Georgieva said, adding that “the last thing we want” is the emergence of “settlement blocks” where CBDC transactions are settled within separate ring-fenced regional frameworks.

She said that out of 114 central banks around the world that are exploring issuing national CBDCs, around 10 have already crossed the finish line and that “we will pursue relentlessly together” the development of central bank digital currencies. A key benefit of CBDCs, Georgieva said, is that they help promote financial inclusion and make remittances cheaper.

The IMF chief’s remarks at the Morocco conference builds on prior statements that make clear the agency sees the widespread adoption of CBDCs as a near given. Georgieva told a conference on May 1 that the trend toward CBDCs is “not going to be reversed” and so the IMF had rapidly increased its staff dealing with digital money.

CBDC in the United States

CBDC adoption in the United States has slowly gained traction in recent times, with the Biden administration releasing a paper last September that examined the possibilities of introducing a  technical framework that would support a U.S. digital dollar.

“If the United States pursued a CBDC, there could be many possible benefits, such as facilitating efficient and low-cost transactions, fostering greater access to the financial system, boosting economic growth, and supporting the continued centrality of the United States within the international financial system,” said the White House Office of Science and Technology Policy, detailing the technical framework possibilities for a central bank digital currency in America.

While the Federal Reserve has not made any definitive plans to introduce a CBDC, it’s looking into the matter and has announced the imminent launch of the FedNow service, an “instant payment” platform that some say lays the groundwork for the future adoption of a CBDC.

“FedNow appears to be a prototype CBDC,” Jordan Schachtel, publisher of “The Dossier” on Substack, stated in a tweet. “While instant, 24/7 payments seems good, there’s implications to leaning into credit-based system. FedNow can quickly transform to a surveillance system.”

The Fed has denied that FedNow is related to the adoption of a CBDC, insisting that it is a payment system that allows businesses and individuals receive instant payments in real time.

During congressional testimony in early March, Fed chair Jerome Powell was asked by a lawmaker whether there’s an advantage to the FedNow payment system over a CBDC or stablecoins that also tout faster payment services.

“A CBDC is going to be years in evaluation,” Powell replied. “And I think we can get this into the hands of the public very quickly, and we’ll have real-time payments in this country very very soon.”

FedNow “will enable all the banks—any bank in the United States, not just the big ones—to offer instantly available funds and real-time payments to their customers,” Powell said before the House Financial Services Committee on March 8. “That’s a great thing.”

A similar private-sector payment system that offers instant settlement features like FedNow has been around since 2017.

The U.S. government will use the current banking crisis to promote a central bank digital currency (CBDC), warned presidential hopeful Robert F. Kennedy, Jr. The candidate has come out in opposition to CBDCs in the United States, warning that its adoption would heighten financial surveillance and threaten basic freedoms.

“CBDCs grease the slippery slope to financial slavery and political tyranny. While cash transactions are anonymous, a #CBDC will allow the government to surveil all our private financial affairs,” Kennedy wrote in a tweet on April 5. “The central bank will have the power to enforce dollar limits on our transactions, restricting where you can send money, where you can spend it, and when money expires.”

Some Fed officials have warned that CBDCs could pose risks to the country. During a speech on April 18, for example, Federal Reserve governor Michelle W. Bowman stated that safeguarding privacy is a “top concern” when it comes to CBDCs.

“In thinking about the implications of CBDC and privacy, we must also consider the central role that money plays in our daily lives, and the risk that a CBDC would provide not only a window into, but potentially an impediment to, the freedom Americans enjoy in choosing how money and resources are used and invested,” Bowman said at the time.

Threat to ‘Core Freedoms’

In contrast to the view of the IMF and others that central bank controlled digital money has upsides, a recent analysis from the Cato Institute found that CBDCs pose a foundational risk to America’s economic systems while offering few benefits.

“While CBDC proponents present many potential benefits, those benefits do not stand up to scrutiny,” the think tank stated in an April analysis.

Proponents of CBDCs routinely cite the promotion of financial inclusion, faster payments, making fiscal policies easier to implement, and in the case of a U.S. central bank digital currency, it would help preserve the greenback’s status as a world reserve currency. Yet the Cato analysis says all four do not stand up to scrutiny.

On financial inclusion, the think tank said that the push for CBDCs as a solution fails to take into account the fact that there are private sector innovations taking place in this regard and that it doesn’t address the needs of the unbanked.

As to the faster payments argument, Cato analysts acknowledged that speeding up transactions is a “noble effort,” but that “a CBDC would fail to provide a unique, or even additional, benefit compared with the existing developments in the private sector.”

The think tank also dismissed the argument that a U.S. CBDC would help preserve the greenback’s status as the world’s reserve currency as the dollar’s attraction is not based on one particular financial technological platform or another but on factors like property rights and a strong economy.

“The dollar’s renowned status is owed to the strength of the American economy and its legal protections for private citizens relative to most other countries, not the specific technology enabling electronic transfers,” Cato analysts wrote.

The final argument—that a CBDC would help with the implementation of monetary and fiscal policy—also falls short, according to Cato, which called the idea that a digital dollar would let policymakers fine-tune the economy both “sanguine” and “concerning.”

At the same time, while a CBDC would not offer any unique benefits compared with existing technologies, it would pose “serious risks,” the think tank warned. This includes a “substantial” threat to financial privacy, financial freedom, as well as the foundation of the banking system itself.

Article cross-posted from our premium news partners at The Epoch Times.

Here’s another attempt with the help of Michael Snyder from The Economic Collapse Blog. We may be witnessing the birth of something I’ve been warning about for a while. It’s no secret that governments around the world, including the Biden-Harris regime, are plunging headlong into the freedom-killing quagmire of Central Bank Digital Currencies. But as I’ve noted, getting a bunch of CBDCs in play is only a step toward the end goal. I’ve been annoyed to read some journalists claiming CBDCs are the endgame. They are not.

A one-world currency that consolidates and centralizes CBDCs is the endgame, at least from a financial perspective. They don’t want a Digital Dollar, a Digital Yuan, a Digital Euro, and other digital currencies doing their own thing. They want everyone everywhere on the globe using the same Digital Enslavement Currency, and the International Monetary Fund may have just rolled it out in the form of Unicoin.

Read what Snyder says about it, then I’ll finish with some closing thoughts…

The IMF Has Just Unveiled a New Global Currency Known as the “Universal Monetary Unit” That Is Supposed to Revolutionize the World Economy

A new global currency just launched, but 99 percent of the global population has no idea what just happened.  The “Universal Monetary Unit”, also known as “Unicoin”, is an “international central bank digital currency” that has been designed to work in conjunction with all existing national currencies.  This should set off alarm bells for all of us, because the widespread adoption of a new “global currency” would be a giant step forward for the globalist agenda.  The IMF did not create this new currency, but it was unveiled at a major IMF gathering earlier this week…

Today, at the International Monetary Fund (IMF) Spring Meetings 2023, the Digital Currency Monetary Authority (DCMA) announced their official launch of an international central bank digital currency (CBDC) that strengthens the monetary sovereignty of participating central banks and complies with the recent crypto assets policy recommendations proposed by the IMF.

Universal Monetary Unit (UMU), symbolized as ANSI Character, Ü, is legally a money commodity, can transact in any legal tender settlement currency, and functions like a CBDC to enforce banking regulations and to protect the financial integrity of the international banking system.

As the press release quoted above indicates, this new “Universal Monetary Unit” was created by the Digital Currency Monetary Authority.

So who in the world is the Digital Currency Monetary Authority?

Honestly, I had no idea until I started doing research for this article.

The press release says that the organization consists of “sovereign states, central banks, commercial and retail banks, and other financial institutions”…

The DCMA is a world leader in the advocacy of digital currency and monetary policy innovations for governments and central banks.  Membership within the DCMA consists of sovereign states, central banks, commercial and retail banks, and other financial institutions.

Basically, it sounds like a secretive cabal of international banks and national governments is conspiring to push this new currency down our throats.

We are being told that the “Universal Monetary Unit” is “‘Crypto 2.0”, and those that created it are hoping that it will be widely adopted by “all constituencies in a global economy”…

The DCMA introduces Universal Monetary Unit as Crypto 2.0 because it innovates a new wave of cryptographic technologies for realizing a digital currency public monetary system with a widespread adoption framework encompassing use cases for all constituencies in a global economy.

I don’t know about you, but this sounds super shady to me.

Of course the Digital Currency Monetary Authority is not the only one that has been working on a new digital currency.

The UK has also been working on one.

The same is true for the European Union.

And would it surprise anyone that the Biden administration is touting the potential benefits of a “digital form of the U.S. dollar”?  The following comes from the official White House website…

A United States central bank digital currency (CBDC) would be a digital form of the U.S. dollar. While the U.S. has not yet decided whether it will pursue a CBDC, the U.S. has been closely examining the implications of, and options for, issuing a CBDC. If the U.S. pursued a CBDC, there could be many possible benefits, such as facilitating efficient and low-cost transactions, fostering greater access to the financial system, boosting economic growth, and supporting the continued centrality of the U.S. within the international financial system.

I don’t think that it is a coincidence that governments all over the western world are simultaneously developing CBDCs.

And the IMF has actually already put together an extensive handbook “to assist central banks and governments throughout the world in their CBDC rollouts”…

The International Monetary Fund (IMF) is putting together a Central Bank Digital Currency (CBDC) handbook to assist central banks and governments throughout the world in their CBDC rollouts.

Published publicly on April 10, the “IMF Approach to Central Bank Digital Currency Capacity Development” report outlines the IMF’s multi-year strategy for aiding CBDC rollouts, including the development of a living “CBDC Handbook” for monetary authorities to follow.

A lot of people out there will cheer when these digital currencies are introduced.

But it is imperative to understand that once everyone is using them, your financial privacy will be almost totally gone.

Authorities will be able to track virtually everything that you buy and sell, and I am sure that they won’t hesitate to use that information against you.

Needless to say, the potential for tyranny in such a system is off the charts.

Can you imagine a world in which you are restricted from buying meat for a while because you have already used your “carbon credits” for the month?

Your “financial privileges” could potentially be restricted at any time at the whim of a government bureaucrat, and if you are a big enough troublemaker you could be “deplatformed” from the system permanently.

Of course in order for such a system to have real teeth, cash and other forms of payment will need to be phased out, and that is precisely what is happening right now in Europe.  The following comes from the official website of the European Parliament…

To restrict transactions in cash and crypto assets, MEPs want to cap payments that can be accepted by persons providing goods or services. They set limits up to €7000 for cash payments and €1000 for crypto-asset transfers, where the customer cannot be identified.

Ultimately, they will just keep lowering the limits until the use of cash is almost completely eliminated.

Everyone will be slowly but surely forced on to the new digital system, and it will be a system that they control with an iron fist.

And most people will willingly go along with it.  These days, most people are just scraping by from month to month and one recent survey found that 70 percent of all Americans are “financially stressed” at this point…

Inflation, economic instability and a lack of savings have an increasing number of Americans feeling financially stressed.

Some 70% of Americans admit to being stressed about their personal finances these days and a majority — 52% — of U.S. adults said their financial stress has increased since before the Covid-19 pandemic began in March 2020, according to a new CNBC Your Money Financial Confidence Survey conducted in partnership with Momentive.

Most Americans simply do not care that these new digital currencies could open a door for great tyranny.

They just want to be able to pay the bills and take care of their families, and if our politicians tell them that this new system is good for the economy they will be all for it.

But those of us that are awake know that more globalism doesn’t lead anywhere good.

Concentrating even more power in the hands of the international elite is always a bad idea, and hopefully we can start to get more people to understand this.

Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

Editor’s Commentary

Those who have been attempting to expose the machinations of the New World Order, the globalist elite cabal, the Liberal World Order, or whatever they’re calling themselves these days have long said that a one-world currency will be required in order for the powers-that-be to have complete control over us. Unicoin really could be it, and hopefully my readers are cognizant of the fact that I do not jump on conspiracy theories very easily.

With that said, this particular conspiracy “theory” is materializing as fact. This is why it’s imperative that we do everything in our power to accomplish two things. First, we must fight this in any way that we can and unfortunately I’m not sure how that manifests. I know that making people aware is an important part of fighting the good fight because we will need to reach a tipping point of awareness to have a chance, but even then I’m not sure how to stop it. That’s above my paygrade. All I know is that people must be told the truth.

Second, it behooves us all to start (if you haven’t started already) building and/or joining localized networks for alternative commerce. Make friends. Build alliances. Get to know farmers, ranchers, shop owners… anyone who isn’t part of the corporate financial infrastructure. Again, I do not know exactly what that will look like or if alt-economies are going to be effective anywhere, let alone everywhere. I just know that smarter people than me are talking about it too, so there’s a good chance it’s on the right track.

The most important consideration for Bible-believing Christians is that we must never let our faith be secondary to anything. Surviving and thriving in this world is important to many of us, but we cannot allow that to ever supersede our faith. No matter how bad things get in this world, it’s our place in the next world that should be our greatest consideration.

God Bless you all.

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).

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.

Last year, there was a severe slowdown in the global economy following the obedient masses’ compliance with the ruling class’s rules over the scamdemic. The conflict in Ukraine is also set to continue in 2023 because the rulers need a war and an excuse to further destroy humanity. And this could persist for the next five years,  warned International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Thursday.

According to a report by RT, the global GDP will grow at about 3% over the next half-decade compared to an average of 3.8% seen in the past 20 years, representing the worst economic performance in more than three decades. The IMF expects global GDP to expand by less than 3% this year, which is in line with its January projection of 2.9%.

“With rising geopolitical tensions, with inflation still running high, a robust recovery remains elusive,” Georgieva said. “That harms the prospects of everyone, especially for the most vulnerable people and most vulnerable countries,” she added. Additionally, she urged the world community to “be vigilant and more agile than ever,” adding that regulators may come across more complicated choices to protect the financial system amid persistent inflation and challenges in the banking sector.

The IMF head also warned about the soaring inflation that is facing most of the world’s wealthy nations. This inflation will force central banks to continue interest-rate hikes, adding pressure to the banking industry despite financial uncertainty following recent turmoil with lenders in the United States and Switzerland.

At the end of all of this will be the control system of central bank digital currencies that will ensure the total and permanent enslavement of every single human being on this planet. CBDCs are absolutely the end game and necessary to make sure the slaves can never break free.

• The Endgame: Central Bank Digital Currency
• WEF Admits CBDC Is Inevitable

Article cross-posted from SHTF Plan.