The Digital Currency Monetary Authority (DCMA) recently announced the launch of the Universal Monetary Unit (UMU), also known as Unicoin, during the 2023 International Monetary Fund (IMF) Spring Meetings.
When these digital currencies are finally made available, there will be a large number of individuals who applaud.
However, it is essential that you are aware that once they become widespread, your financial privacy will be severely compromised if not entirely lost.
The UMU, symbolized by the ANSI Character, Ü, is a digital currency designed to work in conjunction with national currencies. It is legally considered a money commodity and functions as a central bank digital currency (CBDC) to enforce banking regulations and protect the financial integrity of the international banking system.
I don’t believe for a second that the concurrent development of CBDCs by governments across the entirety of the Western world is a coincidence.
Who is the Digital Currency Monetary Authority?
The DCMA is a leading advocate of digital currency and monetary policy innovations for governments and central banks. Its members consist of sovereign states, central banks, commercial and retail banks, and other financial institutions. However, the organization’s apparent secrecy raises suspicions about an international conspiracy to push this new currency on the global population.
A Wave of Cryptographic Technologies
The DCMA refers to the UMU as “Crypto 2.0,” which innovates a new wave of cryptographic technologies for realizing a digital currency public monetary system with a widespread adoption framework that encompasses all constituencies in a global economy. This is worrying since it could lead to a loss of financial privacy once people adopt it. Governments will be able to track everything people buy and sell, and that information could be used against them.
Development of Central Bank Digital Currencies
Several countries, including the UK and the European Union, have been working on developing their CBDCs. The Biden administration is also exploring the possibility of creating a digital version of the US dollar, with potential benefits including low-cost transactions, greater access to the financial system, and economic growth. The IMF has also developed a handbook to assist central banks and governments worldwide in their CBDC rollouts.
The potential for tyranny in such a system is high. Governments could restrict people’s financial privileges at their discretion, and large troublemakers could be permanently “de-platformed” from the system. It is essential to consider the loss of financial privacy that comes with CBDCs’ widespread adoption and the potential consequences of such a system.
It goes without saying that the probability of tyranny occurring in such a society is through the roof.
Can you picture a world in which you are not allowed to buy any more meat for a certain amount of time because you have already spent all of your “carbon credits” for the month?
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