Global Currency Reset Conference (October 2020)

@Mikkael I know its weird, someone gave me that link and I found it quite interesting considering last BIS (Bank of International Settlements) conference from October 25 2020 -> I suppose they are reffering to the above BIS conference (dont know why occured in comunist China... while the matter of that is about global central banks and BIS - the bank of all banks - is from Austria).
In BIS conference they inform us (this thing were not mentioned in TV news) that currently about 80% of central banks across the globe are introducing new global cryptocurrency system -> CBDC.

The guys from the conference in first post claiming that:
* very soon the new global cryptocurrency will be revealed (I dont know why they are claiming its Bitcoin..., I think it will not)
* depts across the world will be swiped out (hard to say on what conditions)
* they predicted that there will be major problem with votes counting during and after elections day in USA and whole case will last about 90 days
 

Luks

The Living Force
FOTCM Member
Is it Real or fake? Looks very weird for me.
My general perception of this video is that they treat themselves seriously and that of what they talk about. Still, the studio's arrangement probably has to, simulate the location in the government's facility and some official speech. And it looks a bit comically, at least for me.
 

Ina

Jedi Master
@Gruchaa First vid is from some weird organization in fact, second one is from official strong 90 years lasting from Switzerland (I made mistake above saying its Austria, sorry), this bank has no jurisdiction and tax immunity.
The tweet corresponds to the the 2nd Bund Summit: Crisis and Opportunities: New Finance and New Economy in a New Situation, organized by BIS and held in Shanghai.
Link to video in English:
外滩金融峰会全体大会四|数字货币、金融科技与普惠金融
IMF has also a summary of the 2nd Bund Summit on their website which can be read on the link below.
Crisis and Opportunities: New Finance and New Economy in a New Situation

The first video was created by Mark Christopher, self declared as ‘man with a mission'. His Youtube channel, is packed with the same ‘mission’ messages. He admits he is presenting a scenario, very plausible in his view, and should it not happen, he will personally answer in front of his viewers.
 

Ina

Jedi Master
@Ina Exactly, I also posted link to that conference above.
Btw. Have you heard in any public TV/Radio about that BIS conference? Because I havent... And yet it seems to be PRETTY MASSIVE case.
No, I haven’t. I follow on and off the WB, IMF, and the like but even so, the news are deep into special focus areas or projects. I did read about the Chinese digital currency pilot project, but I think it was on Zero Hedge. The MSM plus the plethora of associated commentary sites are either on a tangent like the first video or centred on political gossip and social engineering circus. So, it was a total delight when I saw your post because central banks seem now engaged into the digital currencies. I am not advocating as such for DCs but I like to see change happening. So sad it is in the financial sectors but that’s what is leading the World for the moment. Nevertheless, the fact that each central bank will have own DCs leads me to believe that in the end, current digital currencies will be changed or assimilated, maybe in the same way that you can or cannot access content for streaming from different countries unless you have a VPN. What are your thoughts about it?
 
@Ina I'm into cryptocurrency world since 8 years and have followed them since then carefully.
I suppose that governments realized that cryptos are inevitable and will not go anywhere, same way like Bittorrent protocol is (for downloading movies and other files). They also probably know that decetralized exchanges for cryptocurrencies are already here and their trading volume is growing fast every month.

So considering rising popularity of cryptocurrencies (technology behind them is more and more sophisticated and useful) THEY will propose THEIR own cryptocurrency, that will be based on global banks shared protocol that will make it easier to transfer that digital money across all bank accounts across the globe. Of course they will have full control of its issuance. Hard to tell currently how this (they call it CBDC) new currency will be issued and in what it will be covered (surefly not in gold ;]).
On every bank account we will have subaccount dedicated to CBDC or new national digital money based on CBDC protocol.

When they will announce that to the world? I suppose pretty soon during major crisis, that is already happening slowly in Europe, but my thoughts are we are currently wait for USA (another wave of coronavirus or its mutation, whatever). Riots and protests that have and will have basis on potential elections fraud will be main fuel here imho.

Good thing for us is that rest of cryptocurrencies will not go anywhere and people that will want it, will find others that help to learn how to use them.
 

KS

The Force is Strong With This One
I think that what they really are after is more state control and elimination of private banking. For example, if you are a wealthy person (or part of the mafia competition), you can create your own private bank, and lend yourself money for your further ventures (or bogus enterprises) leveraging fractional reserve. Even better: create a private bank in some foregin country, and make debt there. CBDC eliminates that kind of practices, all-electronic transactions give ability for auditing and fraud detection, and the state can decide which parts of the economy to support during crises. Or so I’ve been told by CBDC advocates. [sarcastically] How can you not agree that this is a good thing?

But I wonder, why is there so much talk about blockchain technology in the context of CBDC? It is totally useless in what they are after: a centralized, unbounded non-anonymous system. Maybe the discussion about the blockchain, smart contracts (they certainly want you to create your own financial instruments… not), Proof of Something consensuses are a distractions for people to be preoccupied? Also, a lot of people conflate blockchain with Bitcoin, and that legitimizes CBDC in their minds maybe?

Just my thoughts. Waiting for the power grid outages that will render all-electronic money a science fiction idea 🍿
 
@KS Crucial question is in what exactly CBDC digital currencies will be backed and how its issuance will look like. Also I dont think so it will be kind of DAO (Decentralized Autonomous Organization) - I suppose those currencies will and their functionalities will be whole in hands of central banks. I hope I'm wrong.
 

Trzon

A Disturbance in the Force
Crucial question is in what exactly CBDC digital currencies will be backed and how its issuance will look like.
The CBDCs of Russia or China could be backed by gold as theese countries have been purchasing a lot while the USA was selling. This of course may be whisfull thinking but if they want to issue e-rubel or e-yuan that pose a real threat to e-dollar they have to at least talk Bretton-Woods-style.

What would e-dollar be backed with? I've no idea. Maybe silver or assets but eventually it will end up as helicopter money anyway. What I also see possible is the creation of one currency for the whole Western Block as all the most important currency pairs with dollar (USD/EUR, USD/CHF, USD/GBP) are heading towards 1:1 parity for the las few years like if they were being prepared for something...

IMHO bitcoin's role was to popularize the idea but I'm not bullish at any cryptocurrency that pose a threat to CBDCs. Owning them will simply be penalized.
 
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@Trzon Worst scenerio is that it will be backed with us, the citizens and our properties. Tokenization of people is already possible with current tech/it tools.
 

Trzon

A Disturbance in the Force
Worst scenerio is that it will be backed with us, the citizens and our properties. Tokenization of people is already possible with current tech/it tools.
What exactly do you mean by tokenization of citizens? As for tokenization of property I can imagine some obligatory e-wallets packed with tokens representing real asstes. Got something that doesn't have its token in your e-wallet? Sorry, you don't own it.
 
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