Central Bankers Go Public with their Worldwide CBDC while the Countries joining BRICS accelerate

On April 10, the central banks announced the implementation of a new world wide digital currency. According to their press release:

“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."

“The 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.”

"Banks can attach SWIFT Codes and bank accounts to a UMU digital currency wallet and transaction SWIFT-like cross-border payments over digital currency rails completely bypassing the correspondent banking system"

Who is the DCMA? According to their website

The DCMA is a world leader in the advocacy of digital currency innovations for monetary authorities. Our mission is to enable trade globalization through the monetary integration of international payments and settlements while strengthening national economies monetary sovereignty.

The first wave of cryptographic cash was designed for public untrusted networks. The DCMA reimagines the next wave of cryptographic innovations engineered for adoption by central banks, retail and commercial banks, Fintech, governments, and cryptocurrency exchanges.

Basically, this is the group behind the move to implement government CBDCs that we are seeing now in legislation across the United States in most state legislators and by Biden at the federal level. The problem is it will not be U.S. controlled, it will be central bank controlled.

This is not new, it has been in the works for at least 5 years when they started to publicly discuss it at their annual Jackson Hole central bankers meeting in 2019, you can hear Harley Schlanger and I discuss it back in 2019: Central Banks Propose total takeover with Digital Currency

We should not be surprised about this development because they told us they were planning a worldwide digital currency that would bypass governments and would be centrally controlled. At that time they discussed using carbon credits to manage/control who was able to access credit.

Considering carbon is plant food, people who were able to critically think could see past this plan as a dystopian power grab by a select few, versus an authentic effort to improve the planet.

Now with the BRICS nations giving the central bankers a true competitor, we will see how the new worldwide digital currency develops. It is doubtful that the BRICS and the countries who have joined them will embrace this new currency, but they still need to engage in commerce between nations. The implementation of the DCMA worldwide digital currency may be another reason why the BRICS nations are dedollarizing as quickly as possible.

According to AsiaTimes.com on April 13th:

Currently, one of the major strategic battles for the Global South is the creation of alternatives to the hegemony of the US dollar. As Republican US Senator Marco Rubio confessed in late March, the United States will increasingly lose its ability to sanction countries if they decrease their use of dollars.

Almost once every week, there is a new agreement between countries to bypass the dollar, such as the one recently announced by Brazil and China. The latter already has similar deals with 25 countries and regions.

Right now, there is a working group within BRICS whose task it is to propose its own reserve currency for the five countries that could be based on gold and other commodities.

The project is called R5 because of the coincidence that all the currencies of BRICS countries start with R: renminbi, rubles, reais, rupees, and rands. This would allow these countries slowly to increase their growing mutual trade without using the dollar and also decrease the share of their international dollar reserves.

The Asia Times goes further and explains why countries want to join the BRICS. It goes on to explain how the IMF and the central banks have been brutal towards struggling 3rd world nation countries.

When a country’s international reserves run out of dollars (and it can no longer trade abroad or pay its foreign debts), it is forced to ask for a bailout from the IMF, which takes advantage of the country’s desperation and lack of options to impose austerity packages with cuts in state budgets and public services, privatizations, and other neoliberal measures.

For decades, this has been one of the weapons of the United States and the European Uniion to ensure the implementation of neoliberalism in the countries of the Global South.

I had discussed this in detail back in 2017 with John Perkins (i.e. Economic Hitman) and how the IMF handled these operations for the West's strategic advantage. The Asia Times goes on to discuss how they are making plans to help struggling countries with a bailout fund that would give these nations a "fair" deal.

Right now, the five BRICS members have no issues with international reserves, but countries including Argentina, Sri Lanka, Pakistan, Ghana and Bangladesh find themselves in a bad situation. If they could access the CRA, with better conditions for repaying loans, this would mean a political breakthrough for BRICS, which would begin to demonstrate the ability to build alternatives to the financial hegemony of Washington and Brussels.

This is a huge incentive for countries to join the BRICS and to leave the IMF/Central Banking regime. There is no question that it is working. We are continuing to see momentum away from the dollar as countries are announcing their intent almost weekly now to join the BRICS.

What we are experiencing is literally the shifting of global power to the East from the West which has stood for hundreds of years. It will change all of our lives and it's important that we understand it and prepare for more turbulent times ahead.

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