During this month’s Spring Meetings in Washington DC, the IMF and World Bank held their annual Development Committee conference which looked at the economic outlook and potential risks for the global economy.
As is tradition, IMF head Christine Lagarde produced a written statement outlining several areas of priority. All of them were predicated on ‘reaching the 2030 Sustainable Development Goals‘. Whilst on paper the statement is geared towards emerging and developing countries, elements of it relate notably to western nations such as the United Kingdom, despite Britain being considered an advanced economy.
Fintech relates directly to the rise of digital money through the use of cryptocurrencies and the future issuance of central bank digital currencies (CBDC’s). Over the past year I have written about how both the BIS and IMF have begun to openly question ‘money in the digital age‘, whilst central banks are in the midst of reforming national payment systems that will be compatible with distributed ledger technology (DLT).
Adrian makes the point that Fintech provides ‘new opportunities for central banks to improve their services – including issuing digital currency.’ A recent blog post of mine (BIS General Manager Outlines Vision for Central Bank Digital Currencies) looks into this in more detail.
Exactly how far advanced globalists are in introducing digital currencies is an open question. If we go simply by what the IMF and the BIS are communicating, they remain in the developmental stages, with less than a quarter of central banks actively seeking to issue CBDC’s and just four pilot tests being undertaken. But behind the scenes the push in the direction of digital currencies grows exponentially. A sign that globalists are rapidly advancing an agenda is when they ratchet up communications on the subject.
According to Adrian, the Fintech Roundtable Program was launched to ‘facilitate peer-to-peer, in-depth dialogue and information-sharing among the IMF’s member countries regarding the fintech challenges they face and discuss policy responses.’
The sharing of information, under the direction of the IMF, has no doubt accelerated over the past twelve months. As central banks undertake surveys and conduct pilot tests of new technology, the data accrued eventually goes towards building what Adrian calls a ‘global consensus‘.
What I believe these issues combined illustrate is that ambitions for regional fiscal unions and digital currencies are in no way confined to developing countries. If anything, such nations are being used as test beds for piloting technology and preparing the groundwork for its implementation to advanced economies.
If globalists ever manage to successfully present CBDC’s as a solution to economic crisis – one that the general population buys into – that is when their rise will be unstoppable.
2025 is one staging post for reforms to the financial system. 2030 remains the target for implementing sustainable development goals – goals that work hand in hand with the full digitisation of money. Time is increasingly short, but recognising the dangers now and resisting the advancement of what is a globalist agenda for control remains within our ability.