International CBDC Launched: Universal Monetary Unit

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The Digital Currency Monetary Authority (DCMA) Launches an International Central Bank Digital Currency (CBDC)



International Monetary Fund Spring Meetings 2023

PRNewswire [Emphasis mine] | Apr 10, 2023
   
WASHINGTON, April 10, 2023 /PRNewswire/ -- 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.

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 at best-priced wholesale FX rates and with instantaneous real-time settlement.

In an IMF interview with Tobias Adrian, Financial Counsellor at the International Monetary Fund, he states "Cross-border payments can be slow, expensive, and risky. In today's world of payments, counterparties in different jurisdictions rely on costly trusted relationships to offset the lack of a common settlement asset together with common rules and governance. But imagine if a multilateral platform existed that could improve cross-border payments—at the same time transforming foreign exchange transactions, risk sharing, and more generally, financial contracting."

According to Darrell Hubbard, the Executive Director of the DCMA, and the chief architect of UMU, "This vision expressed by the IMF is the exact solution the DCMA is delivering to central banks worldwide."

Adopting a global localization public monetary system architecture, UMU can be configured to operate according to the central banking regulations of each participating jurisdiction.

George Walker, a Partner at Practus, LLP, specializing in international law, facilitated meetings between the DMCA and the IMF, states "Although the IMF has not officially endorsed Universal Monetary Unit, in reviewing the DCMA's Whitepaper and in weekly team discussions, the IMF has yet to state any objections to UMU's FX premium rates and its monetary sovereignty approach."

According to Darrell, "UMU is not attempting to disrupt the international monetary system. If fact, it strengthens it by helping the IMF achieve its stated mandate to provide economic and financial stability to its member states. UMU is a game-changer in how cross-border payments are transacted and mitigates against seasonal and systemic local currency depreciation."

Universal Monetary Unit Model Law legislation has been drafted in collaboration with several sovereign states. In this proposed legislation, UMU should not be enacted as legal tender for negotiating domestic prices or international trade agreements. Instead, the legislation proposes UMU to be enacted as a complementary money commodity for the store of value, mitigating against potential seasonal and systemic local currency depreciation, and tendered as a payment currency at the time of settlement.

Merchants and trading partners could accept UMU for the equivalent market value for their good and services priced in any national legal tender. UMU has premium exchange rates built into its wallet and can convert any settlement currency amount to the equivalent UMU amount.

Universal Monetary Unit is cryptocurrency reimagined from the ground up to support central banking and regulated financial institutions. It features a trusted consensus protocol, Staked Proof of Trust (SPOT) Protocol, and a multi-dimensional DLT (mDLT) capable of supporting any asset or liability ledger enabling full-service digital banking and international trade payments.

The DCMA introduces Universal Monetary Unit as Crypto 2.0 because it innovates a new wave of cryptographic technologies for realizing a digital currency public monetary system with a widespread adoption framework encompassing use cases for all constituencies in a global economy.


About the Digital Currency Monetary Authority (DCMA) –
The DCMA is a world leader in the advocacy of digital currency and monetary policy innovations for governments and central banks.  Membership within the DCMA consists of sovereign states, central banks, commercial and retail banks, and other financial institutions.
https://dcma.io


About Universal Monetary Unit (UMU) –
Universal Monetary Unit (UMU), also known as Unicoin, is an innovation in store of value cryptography powered by artificial intelligence (AI). It adopts a central banking monetary policy framework to ensure it has continuous purchasing demand, minimal price volatility, and annual asset pricing targets.
A copy of the UMU Whitepaper is available on its website.
https://umu.cash

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IMF Unveils New Global Currency Known As The "Universal Monetary Unit" To "Transform" World Economy

ZH [emphasis in the original - slightly adapted] |  APR 15, 2023
Authored by Michael Snyder via The Economic Collapse blog,

A new global currency just launched, but 99 percent of the global population has no idea what just happened.

The “Universal Monetary Unit”, also known as “Unicoin”, is an “international central bank digital currency” that has been designed to work in conjunction with all existing national currencies. This should set off alarm bells for all of us, because the widespread adoption of a new “global currency” would be a giant step forward for the globalist agenda.  The IMF did not create this new currency, but it was unveiled at a major IMF gathering earlier this week…

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.

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.

As the press release quoted above indicates, this new “Universal Monetary Unit” was created by the Digital Currency Monetary Authority.

So who in the world is the Digital Currency Monetary Authority?

Honestly, I had no idea until I started doing research for this article.

The press release says that the organization consists of “sovereign states, central banks, commercial and retail banks, and other financial institutions”…

The DCMA is a world leader in the advocacy of digital currency and monetary policy innovations for governments and central banks.  Membership within the DCMA consists of sovereign states, central banks, commercial and retail banks, and other financial institutions.

Basically, it sounds like a secretive cabal of international banks and national governments is conspiring to push this new currency down our throats.

We are being told that the “Universal Monetary Unit” is “‘Crypto 2.0”, and those that created it are hoping that it will be widely adopted by “all constituencies in a global economy”…

The DCMA introduces Universal Monetary Unit as Crypto 2.0 because it innovates a new wave of cryptographic technologies for realizing a digital currency public monetary system with a widespread adoption framework encompassing use cases for all constituencies in a global economy.

I don’t know about you, but this sounds super shady to me.

Of course the Digital Currency Monetary Authority is not the only one that has been working on a new digital currency.

The UK has also been working on one.

The same is true for the European Union.

And would it surprise anyone that the Biden administration is touting the potential benefits of a “digital form of the U.S. dollar”?  The following comes from the official White House website…

A United States central bank digital currency (CBDC) would be a digital form of the U.S. dollar. While the U.S. has not yet decided whether it will pursue a CBDC, the U.S. has been closely examining the implications of, and options for, issuing a CBDC. If the U.S. pursued a CBDC, there could be many possible benefits, such as facilitating efficient and low-cost transactions, fostering greater access to the financial system, boosting economic growth, and supporting the continued centrality of the U.S. within the international financial system.

I don’t think that it is a coincidence that governments all over the western world are simultaneously developing CBDCs.

And the IMF has actually already put together an extensive handbook “to assist central banks and governments throughout the world in their CBDC rollouts”…

The International Monetary Fund (IMF) is putting together a Central Bank Digital Currency (CBDC) handbook to assist central banks and governments throughout the world in their CBDC rollouts.

Published publicly on April 10, the “IMF Approach to Central Bank Digital Currency Capacity Development” report outlines the IMF’s multi-year strategy for aiding CBDC rollouts, including the development of a living “CBDC Handbook” for monetary authorities to follow.

A lot of people out there will cheer when these digital currencies are introduced.

But it is imperative to understand that once everyone is using them, your financial privacy will be almost totally gone.

Authorities will be able to track virtually everything that you buy and sell, and I am sure that they won’t hesitate to use that information against you.

Needless to say, the potential for tyranny in such a system is off the charts.

Can you imagine a world in which you are restricted from buying meat for a while because you have already used your “carbon credits” for the month?

Your “financial privileges” could potentially be restricted at any time at the whim of a government bureaucrat, and if you are a big enough troublemaker you could be “deplatformed” from the system permanently.

Of course in order for such a system to have real teeth, cash and other forms of payment will need to be phased out, and that is precisely what is happening right now in Europe.  The following comes from the official website of the European Parliament…

To restrict transactions in cash and crypto assets, MEPs want to cap payments that can be accepted by persons providing goods or services. They set limits up to €7000 for cash payments and €1000 for crypto-asset transfers, where the customer cannot be identified.

Ultimately, they will just keep lowering the limits until the use of cash is almost completely eliminated.

Everyone will be slowly but surely forced on to the new digital system, and it will be a system that they control with an iron fist.

And most people will willingly go along with it.  These days, most people are just scraping by from month to month and one recent survey found that 70 percent of all Americans are “financially stressed” at this point…

Inflation, economic instability and a lack of savings have an increasing number of Americans feeling financially stressed.

Some 70% of Americans admit to being stressed about their personal finances these days and a majority — 52% — of U.S. adults said their financial stress has increased since before the Covid-19 pandemic began in March 2020, according to a new CNBC Your Money Financial Confidence Survey conducted in partnership with Momentive.

Most Americans simply do not care that these new digital currencies could open a door for great tyranny.

They just want to be able to pay the bills and take care of their families, and if our politicians tell them that this new system is good for the economy they will be all for it.

But those of us that are awake know that more globalism doesn’t lead anywhere good.

Concentrating even more power in the hands of the international elite is always a bad idea, and hopefully we can start to get more people to understand this.