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We noted that "money" is nothing more than a means of exchange. We could build an economy on a voluntary monetary system if we worked together in enough numbers.
Modern Distributed Ledger Technology has enabled voluntary exchanges on a global level.
We compared the real nature of money with the Central Bank Digital Currencies. CBDC is being implemented across the globe by A
Global public-private partnerships
The currency we use is fiat money
Conjured from thin air
Central and commercial banks. CBDC, however, is not money as we know it.
The fiat currency that circulates in A
Commercial banks were the only ones who could use a form of money known as 'central banking reserves' or base money.
BlackRock, a global financial institution, introduced in late 2019 a monetary program that advocates 'going directly' to 'get central bank money into the hands of the public and private sectors spenders'
We talked about how this new International Monetary and Financial System based on CBDC is intended to accomplish the goal of putting central bank money' into the hands of private sector spenders. But CBDC will achieve far more for global finances.
The IMFS needs to do more than just revamp its 'debt-based' failing IMFS.
CBDC, if it becomes universally accepted, will give the bankers total control over our lives. The grid of surveillance will cover all aspects of our lives.
This article will examine how the CBDC game will unfold.
We will allow it.
The INTEROPERABLE CBDC Empire
Contrary to what we're told,
Central banks are private companies
The Bank for International Settlements is the central bank that oversees and coordinates this global financial and monetary empire.
The BIS is not under the jurisdiction or any intergovernmental organization nor nation state. It is arguably exempted from all "law" and is therefore
The sovereign power of the entire planet
In order to maintain and increase its authority, the CBDC is being implemented as its power base in its current monetary systems declines.
CBDC is still not a standardised technology. But, for reasons
We have discussed this before
It is safe to assume that all national models will be "interoperable" and based on a permissionless digital ledger technology (blockchain or other).
The BIS published its 2021 publication in early 2021.
Report on central bank digital currencies used for cross-border payment
BIS defines 'interoperability as':
Technical or legal compatibility allowing a system to be used with another system or mechanism. Interoperability is the ability for participants to use different systems in order to clear, settle and conduct payments or financial transactions.
CBDC is central bankers solution to BIS global debt-based monetary system. They want to create a global technocratic empire. All national CBDCs are 'interoperable'. Geopolitical tensions that are alleged to exist are irrelevant.
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The Atlantic Council, a NATO think-tank, reports that currently 114 countries are actively developing CBDC. This represents 95% of the global GDP. Eleven of these have already been launched.
According to the Atlantic Council the sanctions imposed on Ukraine in response to its war have given CBDC a further boost.
The financial sanctions against Russia has led to countries considering payment systems that do not use the dollar. Nine cross-border CBDC wholesale tests and seven cross-border retail project are underway, almost double the number of 2021.
This is evidence of the global coordination in a CBDC project worldwide, and the BIS
It is a secret that a coordination group has been set up to do this. China's PBC is, for instance, a shining beacon in the CBDC light from BIS.
You are concerned
The advanced CBDC project, in China, illustrates the possibilities of cross-border CBDC use.
The People's Bank of China has been working with the BIS to develop its CBDC Cross-Border Payment System.
Project m-Bridge CBDC
The Hong Kong Innovation Hub of the BIS is responsible for overseeing this project.
BIS allegedly suspended the Central Bank of the Russian Federation, (CBR-Bank of Russia). It was reportedly also removed from the SWIFT system of telecommunications. This was said to be a "punishment" for the Russian government's escalated war in Ukraine. It is unlikely that the BIS was ever suspended, and the SWIFT sanctions were a pointless gesture. The development of interoperable CBDCs is more important than anything else.
We only need a few pieces of evidence to support the BIS suspension claim.
Western media reports
Citing anonymous BIS sources and ambiguous footnotes on two BIS documents.
The CBR is a governmental agency that deals with the CBR.
As an active BIS Member with full voting rights, no official statement has been made by either the BIS or CBR regarding the alleged suspension.
The CBR is developing a cross-border CBDC using two of the BIS mBridge CBDC model and testing its interoperable "digital ruble"
There is no way that the BIS new global financial system will not be compatible with the digital ruble, as long as the PBC remains a 'partner' in the BIS mBridge development.
SWIFT is the most widely used system of interbank messages. SWIFT is used by both central and commercial banks as well as private financial institutions to transmit secure transaction data.
SWIFT is not the only alternative. In 2014, for example, CBR created its parallel System for Transfer of Financial Messages.
The first version of the website went live in 2017.
Numerous Russian banks
SWIFT was not able to sanction the PBC China International Payments System before it.
The PBC developed CIPS
SWIFT in partnership with
After SWIFT'sanctioned' the CBR, PBC and CBR began to collaborate in earnest
On a possible SWIFT replacement based on CIPS
If the stories are true, SWIFT’s actions appear to be a self-defeating act of folly.
The various communication layers are not financial systems, but enable all elements of the global finance system to communicate. CBDCs must be able to communicate with other systems as well as with one another in order to be successful.
The interoperability extends also to fiat currencies, other financial assets such as
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Exchange traded funds
The assets, funds and currencies, securities, etc., can be tokenised. These assets, funds, currencies and securities can all be tokenised. Almost any asset, whether physical or virtual, can be tokenised.
Hidera is a company that uses a hashgraph-based DLT, an alternative to blockchain. It's backed by wealthy individuals.
The company explains what the
(or tokenization) process:
Imagine you own a property in New York worth $500,000. There are many possibilities, as tokenization can be used for fractional ownership or proof of ownership. Blockchain technology is used to tokenize everything from traditional assets such as venture capital funds, commodities, real estate properties, and bonds to exotic assets including race horses, sports teams, artwork, celebrities, and even art.
It will be easier to create a new IMFS based on CBDC when you can trade tokenised assets in any market using CBDC. Digital 'tokenisation,' also known as digital asset conversion, allows anything to be transformed into a digital financial asset that can then be traded on the CBDC-based digital IMFS.
The BIS, for example, is a good example.
Green bonds are tokenised government green bonds. The World Bank
explains 'green bonds'
A bond is one form of debt security. Green bonds are debt securities that are issued specifically to raise capital for climate-related or environmental projects.
Project Genesis added mitigation outcome interest smart contracts to their green bonds purchase agreements using CBDC's'smart contract functionality'. The investor also received carbon credits when the bond matured. This was in addition to the premiums or coupons from the bond. Carbon credits are a tradable asset and can be traded.
Tokenisation is possible
The creation of new markets will be almost infinitely variable if tokenised assets are traded with CBDCs, which central banks create out of nothing. Profits will then soar.
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"Financialisation" of everything
This will further distance an already distant financial sector from the productive, real economy in which the rest of us reside. CBDC's 'feature' that is most desired is interoperability.
The BIS has published its
Report in December 2020 that demonstrated proof-of-concept for the settlement of 'tokenised asset' using CBDC.
SWIFT published its findings from its subsequent investigation.
Connecting Digital Islands: CBDCs
modelling experiment in October 2022.
SWIFT stated its objective to achieve global interoperability by linking various national CBDCs with existing payment systems. SWIFT is pleased to announce:
These new experiments have successfully shown a revolutionary solution capable of interlinking CBDC and existing payment systems for cross border transactions. This solution allows central bank operators to easily enable and integrate domestic CBDC networks in cross-border payment [.]
Press release related to the article
SWIFT announced its announcement:
Swift has demonstrated that Central Bank Digital Currencies and tokenised assets are able to move seamlessly over existing financial infrastructure. This is a significant milestone in allowing their seamless integration into the global financial ecosystem.
Global interoperability can be assured regardless of the CBDC design that national central banks choose. So, many CBDCs could form a single IMFS controlled centrally that would transact across all of them.
near instantaneous real time
Controlling this CBDC system also means having the global centralised power to block or limit payments, target users and redirect funds. You can enforce purchases, trade assets add contracts tax at source, enforce purchase, trade assets. In near instantaneous real time.
The CBDC FLIMFLAM
Jon Cunliffe is the Deputy Governor of Financial Stability at the Bank of England.
Launching the UK's proposals
For a "digital pound," said:
The digital pound can also be used to complement financial inclusion programs, if it is able make payments offline.
The document 2021 is a comprehensive guide to the future of the country.
Digital Ruble Concept
The CBR stated that its Russian CBDC was developed in response to:
There is a growing demand for households and businesses to increase the speed, ease and security of payments and transfers as well as reduce costs in the financial sector.
All the time, we hear about how cost savings, efficiency, speed, convenience, financial inclusion and security are all claimed benefits. It's all part of a disingenuous and dangerous sales pitch that will deceive you into accepting your financial slavery.
The CBR also reveals the real reason behind the development of its 'digital rouble':
Smart contracts can also be used to mark the digital rubles. This will allow you to set conditions for using digital rubles. Payments made in digital rubles are not anonymous.
It may initially appear more "convenient", but the digital ruble is designed to allow the Russian central banks to track exactly who buys what and when, wherever they are in the country. They will be able to determine the conditions of a 'contract' that will dictate what Russians are allowed to buy, from whom and when. The central bank