The Universal Monetary Unit (UMU), also known as “Unicoin,” is a new “international central bank digital currency” that will work alongside existing national currencies. This new currency was unveiled at the International Monetary Fund’s Spring Meetings 2023 by the Digital Currency Monetary Authority (DCMA). While the IMF did not create the new currency, it has put together a handbook to help central banks and governments throughout the world in their CBDC rollouts. The press release indicates that the DCMA consists of “sovereign states, central banks, commercial and retail banks, and other financial institutions.”
The IMF has been advocating digital currency and monetary policy innovations for governments and central banks, with the DCMA introducing UMU as Crypto 2.0. The currency is aimed to innovate a new wave of cryptographic technologies that can provide a widespread adoption framework, encompassing use cases for all constituencies in a global economy. While governments all over the western world are simultaneously developing CBDCs, this new currency, if widely adopted, could be a giant step forward for the globalist agenda.
Governments are touting the potential benefits of a “digital form of the U.S. dollar,” and the Biden administration has been exploring issuing a CBDC. A CBDC would be a digital form of the U.S. dollar. While the U.S. has not yet decided whether it will pursue a CBDC, the U.S. has been closely examining the implications of, and options for, issuing a CBDC. If the U.S. pursued a CBDC, there could be many possible benefits, such as facilitating efficient and low-cost transactions, fostering greater access to the financial system, boosting economic growth, and supporting the continued centrality of the U.S. within the international financial system.
Many people will cheer when these digital currencies are introduced, but it is imperative to understand that once everyone is using them, your financial privacy will be almost totally gone. Authorities will be able to track virtually everything that you buy and sell, and they may use that information against you. The potential for tyranny in such a system is off the charts.
In such a system, your “financial privileges” could potentially be restricted at any time at the whim of a government bureaucrat, and if you are a big enough troublemaker, you could be “deplatformed” from the system permanently. Ultimately, they will keep lowering the limits until the use of cash is almost completely eliminated, and everyone will be slowly but surely forced on to the new digital system that will be controlled with an iron fist.
Most people will willingly go along with it because they are just scraping by from month to month. One recent survey found that 70% of all Americans live paycheck to paycheck, and 85% of them are in debt. For these people, any system that promises more stability is attractive. However, they are likely to be sorely disappointed once they realize the true nature of this new digital currency.
We should be alarmed by the development of UMU because the widespread adoption of a new “global currency” would be a giant step forward for the globalist agenda. It would give the DCMA and similar organizations immense power to control our financial system, and, ultimately, our lives. We need to resist this kind of centralization and fight for true financial sovereignty. We should embrace the decentralization of finance, and the use of blockchain technology and cryptocurrencies, as an alternative to this new world order of digital currencies.