IMF announces they might make their own Cryptocurrency [Central Bank]
What is going on?
If you have been following the big central banking cartel like I do, you probably have read or realized on your own that it is in the interest of the elite to have a single world monetary system that they control that is completely digital!
In my earlier post (see below) regarding the "Eerie similarities between the Federal Reserve System and Bitcoin", I outlined my belief that either the big central banks made bitcoin/cryptocurrency, OR, at least were going to hijack it through control of the exchanges, laws, and mining power centralization efforts.
What are Central Banks?
Central banks are GIANT banks that serve the purpose of settling foreign transactions and trade between multiple countries. Each Central Bank holds in their reserves many forms of currency, assets (such as real estate and bonds), and in some cases gold/silver/precious metals or even diamonds.
Why do Central Banks Hold Reserves?
The point of the reserves is that they can issue their own form of currency (which they always create more of than they actually have in their vaults) to extend lines of credit to nations and large corporations around the globe. This allows them to make a profit off the debt they extend to other nations and their corporations.
What is the IMF?
The International Monetary Fund. To quote the IMF:
The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
- IMF About - http://www.imf.org/en/About
What does the IMF do?
Again to quote the IMF since they do the best job of actually telling it how it is:
A core responsibility of the IMF is to provide loans to member countries experiencing actual or potential balance of payments problems.
- IMF Fact Sheet "IMF Lending" May 25, 2017 - http://www.imf.org/en/About/Factsheets/IMF-Lending
What does an IMF cryptocurrency mean?
We do not know yet what their plans are but I can speculate a little. I believe they will tie a nation's currency (probably china) to gold first internally while allowing it to float via Forex and demand as a World Reserve Currency as it gains internal value. They will then tie their cryptocurrency (most likely Bitcoin or a derivative they create) to that country's currency, in effect creating a super power of gold backed, government backed, world reserve backed, and cryptocurrency based currency.
A nation that gets that ability under it's belt first would have HUGE first mover advantages for gaining World Reserve status under the new cryptocurrency based monetary system the world is moving towards.
I believe China, both controlling the majority of physical mining and imports of gold and mining of bitcoin combined with the ability to produce the energy and equipment internally sets them up for a potentially huge shift in becoming a leader in world monetary policy.
Now, this was a great post! I knew the government would come out with Its own currency but it makes sense China would be in the best position to pull this off at the end of the day gold is gold and if you have more of it you win. I don't discount the USA and other countries trying to do the same thing even if they work together not having most of the gold means not having most of the power.
nice article, well balanced and true, regards Gez.
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