IMF Has Just Unveiled A New Global Currency Known As The “Universal Monetary Unit”

a reply to: socialmediaclown

That is exactly what I am am talking about. When you see the word 'interoperability' in regards payments or transactions it means two different systems will work together, but they will not be combined. You still need to submit your DC to this platform which then makes the exchange into the other DC.

And of course they will take their cut...

a reply to: AugustusMasonicus

Yes, and Swift's involvement means it will be a global financial system just as the fiat one is. This one will be digital.

originally posted by: socialmediaclown
Yes, and Swift's involvement means it will be a global financial system just as the fiat one is. This one will be digital.

Swift already has a 'global financial system', the question you raised was a 'global centralized digital currency', this isn't it.

a reply to: AugustusMasonicus

Yes it is. Swift operates as a central hub to create a global currency network of different monetary systems. They provided that for fiat and now they're sandboxing CBDCs to perform the same function. You are simply splitting hairs over my wording. Regardless of your specific definition of a "global centralized currency", CBDCs will be circulating globally. Yes, different CBDCs. One global unified system.

More like universal slavery unit.

a reply to: infolurker

First thought:
Is this 'speculated' /based upon that so called trillions of dollars of minerals and precious metals in the sky? Up there in space?
They have been hedging their bets with debt for so long, they had to know something wasssup ( up there, for a long time.

originally posted by: socialmediaclown
One global unified system.

No. There are requirements for participating in Swift and not everyone meets them. Just because Country A has a DC doesn't mean in will be interoperable with Country B. The 'hair splitting' is in fact a very important part of the payments and transactions world.

a reply to: AugustusMasonicus

Just because Country A has a DC doesn't mean in will be interoperable with Country B.

This is in fact the issue that Swift is working on fixing as more and more central banks in several countries are introducing their own digital currency.

Your very first argument was that a central system couldn't happen because of the conversion problem. Then I gave you a solid example of not only how it could happen but how it is happening in real time. The system is still new. Of course they'll have to work out the bugs. But the bottom line is, we are transitioning to a new global economy. A digital economy. Tokenization. Not all countries have a CBDC, yet. But at some point, we will make the switch and anyone who doesn't want to get left behind must be on board.

originally posted by: socialmediaclown
Your very first argument was that a central system couldn't happen because of the conversion problem.

The 'conversion problem' is more of a sovereignty problem. What Swift is doing is nothing more than what already exists, acting as a clearinghouse. The currencies are all still there, they are just settling them. Just because a DC may be used does not make it a 'global centralized digital currency', far from it.

In the payments/settlements world definitions matter, this is basic stuff.

a reply to: AugustusMasonicus


Fortunately for us, I'm not writing legislation for the "payments/settlements world". I'm merely conversing on an irrelevant social media platform. It's not imperative that my terminology be refined.
Global referring to the world
Centralized referring to the centralized role Swift plays in global finance
Digital referring to virtual tokens
Currency referring to legal tender

Whether It's one form of digital currency or several, they will be settled through a central hub allowing central banks to connect their own networks sdirectly to all the other payments systems in the world through a single gateway "ensuring the instant and smooth flow of cross-border payments.”

Once again, your initial argument was that this couldn't be done:

You can't. You would need to convert your own sovereign DC into this DC and then back into the final DC.

Now you're arguing that I claimed there would be a single currency when when obviously what I meant is that there would be a centralized system of settlement. I left out the word "ecosystem". That's what you're quibbling over.

It has a picture of Biden on the face

originally posted by: socialmediaclown
Global referring to the world
Centralized referring to the centralized role Swift plays in global finance
Digital referring to virtual tokens
Currency referring to legal tender

Except you combined the four words together into something that doesn't exist. Nice job.

a reply to: AugustusMasonicus

Let's recap. Shall we? As it seems your attention span is non-existent.

My first post:

How would they be able to roll out a global, centralized digital currency...

Central banks of several countries sandbox CBDCs, implementing the blockchain system and performing test runs for efficiency

Black swan event sends world into a global economic crisis

Governments enact emergency powers and regain economic stability through the initiation of a new digital financial system

Do you see any place where I said it existed?

Your response to this post:

How would they be able to roll out a global, centralized digital currency...

Central banks of several countries sandbox CBDCs, implementing the blockchain system and performing test runs for efficiency


You can't. You would need to convert your own sovereign DC into this DC and then back into the final DC.

That was your argument. That central banks couldn't implement a global centralized digital currency ecosystem because of the conversion issue. You were wrong because you weren't aware of Swift's project.

But instead of admitting you were wrong, you're just going to continue clapping back with trivial objections because you don't know how to advance your argument. And you obviously need to get in the last word. As most argumentative people do.

originally posted by: socialmediaclown
How would they be able to roll out a global, centralized digital currency...

You said this ^^^^^^^

I said they can't.

You then said Swift already has something similar. They don't. It's not a centralized currency, it's a clearinghouse. Not my fault you don't understand the basic terminology.

So is this Unicoin gonna be racists, don't bother applying if you are Russian? Only approved pirates allowed. Coming from the IMF its part of that globalist club. What happened with the Olympics?

However that part goes, sounds like a tough job setting some kind of global stable coin for the rest. Expect they understand the foreign exchange market better than me and ready for any weak spots to be exploited.

a reply to: AugustusMasonicus

I didn't say Swift had a centralized currency. This is what I said about Swift because you seem to keep forgetting things:

a central hub allowing central banks to connect their own networks sdirectly to all the other payments systems in the world through a single gateway "ensuring the instant and smooth flow of cross-border payments.”

Keep nitpicking about basic terminology when your whole argument was that digital currency couldn't be converted because of the "sovereignty" issue.

originally posted by: socialmediaclown
I didn't say Swift had a centralized currency.

You likened it to the fabricated 'global centralized digital currency' you said would be rolled out.

Keep nitpicking about basic terminology when your whole argument was that digital currency couldn't be converted because of the "sovereignty" issue.

I said it wouldn't be a global currency (one currency) because of sovereignty. Try paying attention.

a reply to: AugustusMasonicus

Nope, you were claiming CBDCs couldn't be converted. You were wrong

originally posted by: socialmediaclown
Nope, you were claiming CBDCs couldn't be converted. You were wrong

Wrong. I was saying the couldn't be directly converted, you need a clearinghouse or third party to handle the settlement. You know, sorta like Swift that you mentioned.

a reply to: AugustusMasonicus

That's not what you said at all. You said

You would need to convert your own sovereign DC into this DC and then back into the final DC.

You didn't even mention a clearinghouse or Swift.