On Easter Monday, April 10, the Digital Currency Monetary Authority was launched in Washington D.C. 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."
This digital currency will be global (universal) and the goal is to eventually solve trade settlement issues for the entire planet. This is what was reported on April 10. I say this is the precursor to the MARK of the BEAST financial system. Watch and prepare!
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. Comment: the marketing program distorts the reality of the system IMO.
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. Comment: eventually citizens will be brought into the system.
I presume that this digital coin (a virtual unit of nothing) will be marketed as a solid STORE OF VALUE for all nations, financial institutions, and maybe private individuals (at some point). It is called a commodity but my sense is that its backing will be the International Monetary Fund special drawing rights (a weighted average of some five currencies). This means it is another FIAT currency which is called UNIVERSAL and stable (for marketing purposes) as the IMF is behind it. In reality, however, this is a precursor to the Mark of the Beast financial system which enslaves mankind. I am not fooled by this new marketing program.
Merchants and trading partners could accept UMU for the equivalent market value for their goods 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, the UMU, is a cryptocurrency reimagined from the ground up to support central banking and regulated financial institutions. Comment: see the exchange rates on their website.
The first wave of cryptographic cash was designed for public untrusted networks. The DCMA reimagines the next wave of cryptographic innovations engineered for adoption by central banks, retail and commercial banks, Fintech, governments, cryptocurrency exchanges, corporations and citizens. See website for details.
The Swift payments system will be part of the package. The Executive Director is from California and was educated as a computer specialist. Artificial Intelligence computers and software will operate the system so as to convert one currency into another. I have been waiting for this event for some years. For a Prophecy Student, this is a precursor to the Mark of the Beast financial system. It's happening precisely as prophesied and this shows who is ultimately the author of this system. He's called the God of this World System and also the Prince of Darkness.
See the details and the various exchange rates being offered here:
https://umu.cash/
https://dcma.io/
https://unicoinnetwork.com/
It appears that some type of weighted average formula will be marketed as the BACKING for this digital coin. Currently the IMF (International Monetary Fund) uses the so-called Special Drawing Rights currency for their members. The SDR is a weighted average of five currencies (dollar, yen, yuan, pound, and euro). Technically, the SDR is not a currency but it could be viewed as a store of value. I view it as an 'imaginary' unit of nothing. It's a farce when our markets crash (fully)!
The new UMU (universal monetary unit) has a symbol of a U with two dots above it. The marketing program says this is a decentralized system but I would call this a UNIVERSAL currency...an attempt to create ONE digital currency for the planet. The marketing program says: Universal Monetary Unit can be adopted as an official currency for settling trade payments and as a central bank cash reserve currency to mitigate against seasonal and systemic local currency depreciation.
Universal Monetary Unit can be purchased in the local currency of each national economy strengthening central banking monetary sovereignty. Central banks can enter into a bilateral agreement with Universal Monetary Unit if they prefer to hold UMU on their CBDC ledger. Comment: this is an attempt to create a global digital currency for the planet for trade in all goods and services. Private citizens will be incorporated into the platform when the time is right. This makes this platform a precursor to the Mark of the Beast financial system IMO.
https://www.linkedin.com/posts/darrellhubbard_the-digital-currency-monetary-authority-activity-7051578135905001472-Ts7N/
Review this information and think about where all this leads. America is obviously Babylon the Great as all this enslavement is coming from American entrepreneurs. Will the ONE WORLD leader also come from America? It's possible. Watch!
I am: Donald B. Swenson, Economist/Philosopher, donaldswenson.blogspot.com.
http://kingdomecon.wordpress.com
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