by Marie Hawthorne, Activist Post:
In March, Daisy wrote about FedNow, the instant payment system currently in the works. The American banking and government systems expect to start using it in July. As Daisy discussed, FedNow isn’t a central bank digital currency (CBDC), but it provides the framework for one.
I encourage you to read Daisy’s FedNow article. It will give you a good idea of how digital payments will be initially billed as a convenience, then something we can’t do business without. Read the article, and then imagine digital currency on a global scale.
This is in the works, too.
TRUTH LIVES on at https://sgtreport.tv/
On April 10, the Digital Currency Monetary Authority (DCMA) launched its international central bank digital currency. Proponents claim that this Universal Monetary Unit (UMU, Ü) will be used exactly like any other form of digital money.
Side note: DCMA has also been referring to the Universal Money Units as Unicoin. However, since there is a separate cryptocurrency also going by the name “Unicoin,” we’ll refer to this as UMU. (source)
You may be wondering, what is the DCMA? What countries is it affiliated with? Is it part of the United Nations?
As explained in this Redacted video, DCMA is run by bankers and unnamed government officials from around the world.
The DCMA is described as “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.”
On its website, the DCMA states that its mission “is to enable trade globalization through the monetary integration of international payments and settlements while strengthening national economies [sic] monetary sovereignty. The first wave of cryptographic cash was designed for public untrusted networks. The DMCA reimagines the next wave of cryptographic innovations engineered for adoption by central banks, retail and commercial banks, Fintech, governments, and cryptocurrency exchanges.”
Here’s what makes UMU Unicoin different
UMU’s big advantage, what makes this different from individual countries’ proposed CBDCs, is that it can be used for cross-border transfers of money. Offering UMU users discounted foreign exchange rates is part of the plan to encourage adoption. International Monetary Fund (IMF) representatives claim that right now, exchanging currencies between different nations slows down transactions and increases the cost of doing business; they claim that UMU will dramatically speed things up. Like FedNow, they are using the convenience of instant payments, coupled with the promise of the best foreign exchange rates, as a method of promoting this new payment framework.
