Darrell Hubbard is the genius behind the invention of the Unicoin. Does he understand what he is doing? The photo consists of a few of his associates who desire that this token become global.
Our monetary elites are wanting a Digital currency for the entire world. The current iteration is this UNICOIN which is being promoted by the Digital Currency Monetary Authority. This currency was launched on April 10 in Washington D.C., headquarters of the IMF (International Monetary Fund). It is meant to replace any weak currency (first) for international trade purposes. It will then evolve into the one and major currency for the planet. This seems to be the marketing program being developed as I write.
See: www.dcma.io.
This currency has many flaws but all this does not mean that it won't get issued and promoted. My sense is that the International Monetary Fund (IMF) will back this digital coin and select Central Banks may also back this digital coin for the marketplace. It could eventually turn into the coming Mark of the Beast financial system which is prophesied in scripture (Revelation 13 and 18). But what do I envision as the fatal flaws of this artificial creation by our computer elites within our banking community:
1. The currency is called the UMU (universal monetary unit). It's symbol is U (with two dots above). It is being created as a computer image (virtual unit) with no backing of gold or some element from nature. Essentially, it is a 'number' that will compete with all the other 'numbers' (called floating currencies). This makes it a unit of nothing (but it can serve as money within our 'imagination'). This is fatal flaw #1.
2. The UMU (Unicoin) is being marketed as a commodity currency (a play on words). In reality, it is not a commodity but an electronic number which trades on the computers of this world as money. It gets traded as a virtual unit of nothing but it does reside within our consciousness (and within cyberspace). This makes it viable for the marketplace of citizens who live within their consciousness. A fatal flaw #2.
3. The unit is meant to be a 'payment' currency for goods and services which are traded internationally. Central banks and governments will use this currency to serve as a GLOBAL RESERVE CURRENCY. Today, the dollar and the euro are the main reserve currencies on our planet. But the dollar is not liked by many countries and maybe this Unicoin can replace the dollar in time (say in a couple of years). Fatal flaw #3.
4. The Unicoin (U) will be put into distribution by select Central Banks. Our FED would need to support this unit if it is to get off the ground. Will our FED support this digital unit as an international reserve currency? My sense is YES. The coin is designed to assist all our Central Banks as they trade in our global marketplace. It will get special favors so that governments adopt this currency for their RESERVES. Some countries will likely reject this invention. Fatal flaw #4.
5. The coin (a token in the computer screen) will trade with our current 'dollar' (the reference point for the coin's value will be the American dollar). This makes the coin 'tied' to the dollar and many governments may not like this. Russia may reject this coin. But the acceptance of the coin will grow if the WESTERN central banks adopt the coin as a viable international reserve currency. Any rejection, however, makes the coin questionable. Fatal flaw #5.
6. The coin will be offered at PREMIUM rates (some 5% over the existing FX rates). This may help it to get off the ground (especially if the IMF backs and markets this coin to the world). The idea is that this coin will be offered at continuous 'premium' rates so that all countries will desire the coin for their trading and reserves. It is not being marketed as LEGAL TENDER but it will be marketed as a PAYMENT currency (a play on words). Fatal flaw #6.
7. The coin is meant to replace physical GOLD as a reserve store of value. Confidence will be key to getting this coin off the ground. Our FED, the European Central Bank, the Bank of England, the Bank of Japan, and the Peoples Bank of China will need to support this coin and its MONETARY AUTHORITY. It's designed so that it could REPLACE all fiat currencies in a period of time. Citizens could trade in the currency and save in this currency. In time it could evolve into the Mark of the Beast currency. I will watch the development. It is not really a store of value. Fatal flaw #7.
8. There are some 190 countries which are members of the IMF (International Monetary Fund). The design of this digital coin could result in the replacement of all global currencies in time (say a couple of years). If this were to happen then it would become the Mark of the Beast currency. Prophecy would be vindicated. My sense is that this may be its eventual destiny. It's not going to work, however, IMO. It has many fatal flaws.
The currency is 'imaginary' and it is being INVENTED to fool the public and the world community on issues of money. It is not really a commodity (like gold or silver). It is an artificially created invention of the mind which circulates in cyberspace (our computer networks). The unit was derived from the 'consciousness' of Darrell Hubbard, a computer geek who lives in California and North Carolina.
🚨 (10 April) During the International Monetary Fund Spring Meetings 2023, the Digital Currency Monetary Authority (#DCMA) announced their official launch of an international central bank digital currency (CBDC) called Universal Monetary Unit (#UMU) symbolized as ANSI Character #Ü.
🌍 UMU strengthens the monetary sovereignty of participating #centralbanks and complies with recent crypto assets policy recommendations by the #IMF.
💰 UMU can transact in any legal tender settlement currency and functions like a #CBDC to enforce banking regulations and 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 the instantaneous real-time settlement.
🌐 UMU can be configured to operate according to the central banking regulations of each participating jurisdiction, adopting a global localization public monetary system architecture.
The flaws of this currency are potentially fatal (in time). The unit is a mere invention of the mind with no grounding in material reality. It derives from consciousness and it will 'float' in cyberspace as an electronic unit. Everyone will eventually be offered this token (virtual coin) as their legal tender for all goods and services on the planet. My sense is that it will BECOME the Mark of the BEAST (in time). Think for yourself and follow the implementation of this invention of Darrell Hubbard and the global financial elites.
I am: Donald B. Swenson, Economist/Philosopher, donaldswenson.blogspot.com.
http://kingdomecon.wordpress.com
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