Global banks are essentially admitting to the plan for a complete overhaul of the dollar-based financial world and the creation of a CBDC-centric system built on “unified ledgers.”
There have been three recent developments all announced in succession that suggest the dollar’s replacement is imminent (before this decade is over).
The IMF’s XC Model – A Centralized Policy For CBDCs
The IMF’s XC platform was released as a theoretical model in November of 2022 and matches closely with their long discussed concept of a global Special Drawing Rights basket, only in this case it would tie together all CBDCs under one umbrella along with “legacy currencies.”
It’s promoted as a policy structure to make cross-border payments in CBDCs “easier” and this model is focused primarily on currency exchanges between governments and central banks. Of course, it places the IMF as the middle-man in terms of controlling the flow of digital transactions. The IMF suggests that the XC platform would make the transition from legacy currencies to CBDCs less complicated for the various nations involved.
As the IMF noted in a discussion on centralized ledgers in 2023:
“We could end up in a world where we have connected entities to some degree, but some entities and some countries that are excluded. And as a global and multilateral institution, we’re sort of aiming to, you know, provide a basic connectivity, a basic set of rules and governance that is truly multilateral and inclusive. So, I think that is—the ambition is to aim for innovation that is compatible with policy goals and that is inclusive relative to the broad membership of, say, the IMF.”
To translate, decentralized systems are bad. “Inclusivity” (collectivism) is good. And the IMF wants to work in tandem with other globalist institutions to be the facilitators (controllers) of that economic collectivism....
CBDCs Automatically Require The End Of The Dollar As World Reserve
So what do all these globalist projects with CBDCs have to do with the dollar and its venerated position as the world reserve currency? The bottom line is this: A unified CBDC system completely excludes the need or use-case for a world reserve currency. The Unified Ledger model takes all CBDCs and homogenizes them into a puddle of liquidity, each CBDC growing similar in characteristics over a short period of time.
The advantages of using the dollar disappear in this scenario and the value of currencies becomes relative to the middle-man. In other words, the IMF, BIS and other related institutions dictate the properties of CBDCs and thus there is no distinguishing aspect of any CBDC that makes one more valuable than the others.
Sure, some countries might be able to separate their currency to a point with superior production or superior technology, but the old model of having a big military as a way to ensure Forex and trade favors is dead. Eventually the globalists will make two predictable arguments:
1) “A world reserve currency under the control of one nation is unfair and we as global bankers need to make the system “more equal.””
2) “Why have a reserve currency at all when all transactions are moderated under our ledger anyway? The dollar is no longer any more easy to use for international trade than any other CBDC, right?”
Finally, the dollar has to die because it’s an integral part of the “old world” of material exchange. The globalists desire a cashless society because it is an easily controlled society. Think of the covid lockdowns and the attempts at vaccine passports – If they had a cashless system in place at that time, they would have gotten everything they wanted. Refuse to take the experimental vaccine? We’ll just shut off your digital accounts and you will starve.
I believe that a sizable percentage of the American populace will go to war before they accept a cashless society, but in the meantime, there is still the inevitability of a dollar crash to deal with. Globalist organizations are pushing CBDCs to go active VERY quickly, and as this happens along with the centralized ledgers the traditional dollar will swiftly lose favor. This means that those trillions in greenbacks held overseas will start flooding back into America all at once causing an inflationary disaster well beyond what we are witnessing today.
As much as the economy has benefited from world reserve status in the past it will suffer equally as the dollar fades, only to be replaced by a framework even worse than fiat. That is, unless there’s a dramatic upheaval that removes the globalist order from the equation entirely…
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