IMF Chief Says Central Bank Digital Currency Should be used Alongside Social Credit System to Control What People can and Cannot Buy

IMF Chief Says Central Bank Digital Currency Should be used Alongside Social Credit System to Control What People can and Cannot Buy

IMF Chief Says Central Bank Digital Currency Should be used Alongside Social Credit System to Control What People can and Cannot Buy

By The Exposé

“The smart contract would allow targeted policy functions, like welfare payments, consumption coupons, food stamps, etc.”

“With CBDCs, we can precisely control what people can and can’t own. Also, what kind of use this money can be programmed for, like food only.”

The deputy managing director of the International Monetary Fund (IMF) recently explained how Central Bank Digital Currencies (CBDC) can be programmed to determine what people are allowed to buy and insisted they should be used alongside a China-style Social Credit Score system.

Unlike cryptocurrency, which is private, Central Bank Digital Currency (CBDC) will be issued and controlled by the central banks themselves.

In many ways, it’s the same as banknotes, but that every single transaction will be monitored for compliance.

By ‘Sikh for Truth’ of Truth Talk

On Friday 14th October, the IMF streamed a meeting called “Central Bank Digital Currencies for Financial Inclusion: Risks and Rewards.”

Speakers were Her Majesty Queen Máxima of the Netherlands, who’s also the UN Secretary-General’s Special Advocate for Inclusive Finance for Development. Kristalina Georgieva, Managing Director, IMF, and Bo Li, Deputy Managing Director, and finally Cecilia Skingsley the BIS Innovation Hub Director.

The meeting was about global financial inclusion, which they said had improved over the past ten years, but almost a quarter of the world’s adult population are still unbanked.

It’s hoped that central bank digital currencies would be affordable, widely accepted, and safe instruments, which would address some of the issues surrounding financial inclusion, among other things.

The live stream went under the radar for many but our buddy Tim Hinchliffe over at The Sociable kept an eye on what was going on. Tim posted a video of Bi Li, the Deputy Managing Director of the IMF, explaining how CDBSs can be programmed.

He said: “The smart contract would allow targeted policy functions, like welfare payments, consumption coupons, food stamps, etc.”

“With CBDCs, we can precisely control what people can and can’t own. Also, what kind of use this money can be programmed for, like food only.” – Bi Li

The key word he used was programmability.

Bo li went on to say that because of this potential programmability, government agencies could precisely target support packages to the right people.

He went on to say that: “CBDCs can’t solve every financial inclusion challenge, but they can work together with financial literacy and digital literacy.”

So, a CBDC would work with other policies like digital identities and digital wallets.

This goes hand in glove with what the World Bank Group described in November 2021. “Digital identity verification is essential to the operation of CBDCs, particularly in cross-border transactions. “

Tradable digital assets must be tied to a digital identity system, which in turn should be tied to an automatic KYC and AML/CFT verification system.

“This is a foundational step to the potential use of CBDCs, and emerging developments in regulatory and compliance technology may benefit central banks’ experiments in the digital currency space.”

Bo li described a CDBC as an eco-system, and that the data it would produce would be very valuable to third parties.

When questioned on how this transactional data could be used, Bo Li explained: “I can give you one example in China, those transaction data can be utilised by service providers in credit underwriting.”

Underwriting is the process by which the lender decides whether an applicant is creditworthy and should receive a loan.

“Those transaction data in terms of how many coffees I drink every day, where I buy coffee, do I use UBER every day and what kind of working hours I have.”

“Those non-traditional data can be very useful for financial service providers to give me a credit score and based on that credit score the service providers can give me a credit line without any face-to-face due diligence.”

He continues to say that this “will create value in addition to finance and that data can be very profitable, and that’s the value we are talking about to make it attractive to private sector players to join this eco system.”

It’s like the Chinese model, but every country has the option to do it differently. There is limited privacy. The IMF, World Bank, and BIS are also managing many central banks on these new products.

On the issue of data privacy, Cecilia Skingsley the BIS Innovation Hub Director explained:

“What we just heard from Bo about credit scoring was a very good example of how different countries will take different journeys to a ‘new world’ where they serve their societies in the digital space.”

“We will all have different preferences and this preference on privacy or anonymity is tricky”.

And she continued to say, “That its worth to give up a little bit of privacy to get security”.

We’ve heard that before, right?

Sharing of transactional data was further emphasized by Her Majesty Queen Máxima of the Netherlands in her opening remarks. She said: “A good design of CDBC could give people more control of their transactional data and their ability to share it with a wider set of financial sector providers”.

Most recently according to Federal Reserve Chairman Jerome Powell, CBDCs won’t be anonymous and will be identity-verified, so their transactions will be made public, supposedly to these third parties.

Let’s not forget that earlier this year at the World Government Summit aptly titled a ‘New World Order’, the economist Pippa Malmagren dropped the beans saying that:“We are on the brink of a dramatic change; we are about to abandon the traditional system of money and replace it with a new one, Digital Blockchain CBDC, which will give us greater clarity over every single transaction.”That’s right every single transaction would be made available to the Central Banks and their private service providers for this credit scoring.

As well as programmability another potential downside to having a CDBC is that, like China, the global west can shut off your digital wallet if you protest or speak negatively about the global elites. As was the case recently in China. The authorities’ response to any civil disobedience can be swift and broad.

Globalists want centralized control and dominance structures where everything is tracked and surveilled instead of a decentralised and private system of digital money and identity.

They’re not joking! The parameters they set for CBDC digital currency will nudge our behaviours through social scoring, to control society.

Resources:
https://t.me/zeeemedia/7497
https://expose-news.com/2022/10/19/imf-cbdc-social-credit-score/

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Comments

30 Nov 22
Consensus tips advocate band ligation as the popular form of endoscopic remedy, with sclerotherapy used when ligation isn't technically possible. It has been proven to be as effective as atovaquone-proguanil and mefloquine for the prevention of chloroquine-resistant P. A statement about whether or not and the way complete and even relevant to all registries treatment dvt rumalaya 60 pills trusted. Bioencapsulation of apomyoglobin in nanoporous organosilica sol-gel glasses: Influence of the siloxane community on the conformation and stability of a mannequin protein. Scand J Gastroenterol 1997; just for stopping or shortening the course of postoperative 32:920–924. Suicide following hospitalisation for a psychiatric a psychiatric disorder, 2013 (or latest yr) dysfunction, within 30 days and one yr of discharge, 2012 Within 30 days of discharge Within one 12 months of discharge Age-sex standardised rates per one hundred patients Age-intercourse standardised charges per one hundred sufferers 0 gastritis diet 5 bites discount 300 mg allopurinol amex. Adjusting the cell count for the variety of purple cells doesn't enhance its diagnostic utility. Other reported medical experience has not identified differences in responses between the aged and younger patients. Active therapy was not related to vital differences in dysplasia status, biopsy results or prevalence of human papilloma virus sort sixteen an infection arthritis of the wrist meloxicam 7.5 mg order overnight delivery. Alternative splicing of this gene generates three transcript variants encoding different isoforms. The tumour is expanding, but the capsule is incomplete with a rupture (white arrow) and intrahepatic metastases (black arrows). The data in this guide is predicated on international analysis in panic disorder allergy treatment for children ultracorten 5 mg proven. Therefore, it is very important to obtain blood cultures prior to antibiotic remedy. Nextime tablet: It should be consumed within seventy two hours of straightforward; ninety six insertions had been rated as 'easy' or 'common' and unprotected intercourse and incorporates 1. Inter expertise, probably the most experienced physi ventions aimed at speeding up entry to cian must be free to guide the staff, advert denitive care can take place simultane minister medicine and supply situational ously, supplied personnel not directly in consciousness medicine you cannot take with grapefruit 1 mg finax purchase free shipping. Accuracy of sonography in predicting the result of fetal congenital diaphragmatic hernia. The presence of a juvenile progress spurt in women accentuates this tendency for significant acceleration of jaw progress within the mixed dentition. Do not continue easy transfusions in sufferers with stroke from sickle cell disease who have iron overload, if pink blood cell change three is on the market erectile dysfunction causes cures buy fildena 25 mg online. Angiogenesis inhibitors As the physique develops and grows, it makes new blood vessels to supply all the cells with blood. In an investigation of and from different indoor or outdoor places where this adults and youngsters in the common inhabitants in Germany, pesticide is used. In the previous, the nutritional and tissue breakdown threat of patients was underestimated erectile dysfunction cause buy tadora 20 mg visa.
30 Nov 22
If ygd.wxvf.canadiantimes.live.fxn.ed bloodborne thrombophilia [URL=http://minimallyinvasivesurgerymis.com/lisinopril/ - [/URL - [URL=http://johncavaletto.org/drug/priligy/ - [/URL - [URL=http://davincipictures.com/red-viagra/ - [/URL - [URL=http://oliveogrill.com/generic-levitra-20mg/ - [/URL - [URL=http://lbprintery.net/ventolin/ - [/URL - [URL=http://frankfortamerican.com/help-buying-lasix/ - [/URL - [URL=http://americanazachary.com/product/prednisone-online/ - [/URL - [URL=http://sunlightvillage.org/product/molvir/ - [/URL - [URL=http://umichicago.com/viagra-online/ - [/URL - [URL=http://oliveogrill.com/cialis-20mg/ - [/URL - [URL=http://heavenlyhappyhour.com/lowest-cialis-prices/ - [/URL - [URL=http://sci-ed.org/tretinoin/ - [/URL - [URL=http://impactdriverexpert.com/lasix-for-sale/ - [/URL - [URL=http://bibletopicindex.com/pharmacy/ - [/URL - [URL=http://sci-ed.org/molnupiravir/ - [/URL - [URL=http://trafficjamcar.com/buy-lasix-online/ - [/URL - [URL=http://center4family.com/canada-cialis/ - [/URL - [URL=http://altavillaspa.com/drugs/emorivir-information/ - [/URL - [URL=http://thesteki.com/eriacta-for-sale/ - [/URL - [URL=http://bayridersgroup.com/kamagra-buy/ - [/URL - [URL=http://fountainheadapartmentsma.com/levitra-canada/ - [/URL - [URL=http://sci-ed.org/prednisone-coupons/ - [/URL - [URL=http://minimallyinvasivesurgerymis.com/minocycline/ - [/URL - [URL=http://fountainheadapartmentsma.com/product/movfor/ - [/URL - [URL=http://minimallyinvasivesurgerymis.com/lasix-capsules-for-sale/ - [/URL - [URL=http://fontanellabenevento.com/pill/molnupiravir/ - [/URL - [URL=http://oliveogrill.com/doxycycline-monohydrate-100mg/ - [/URL - [URL=http://americanazachary.com/drugs/clonidine/ - [/URL - [URL=http://disasterlesskerala.org/item/levitra/ - [/URL - [URL=http://bibletopicindex.com/propecia/ - [/URL - summer lip-reading on, http://minimallyinvasivesurgerymis.com/lisinopril/ http://johncavaletto.org/drug/priligy/ http://davincipictures.com/red-viagra/ http://oliveogrill.com/generic-levitra-20mg/ http://lbprintery.net/ventolin/ http://frankfortamerican.com/help-buying-lasix/ http://americanazachary.com/product/prednisone-online/ http://sunlightvillage.org/product/molvir/ http://umichicago.com/viagra-online/ http://oliveogrill.com/cialis-20mg/ http://heavenlyhappyhour.com/lowest-cialis-prices/ http://sci-ed.org/tretinoin/ http://impactdriverexpert.com/lasix-for-sale/ http://bibletopicindex.com/pharmacy/ http://sci-ed.org/molnupiravir/ http://trafficjamcar.com/buy-lasix-online/ http://center4family.com/canada-cialis/ http://altavillaspa.com/drugs/emorivir-information/ http://thesteki.com/eriacta-for-sale/ http://bayridersgroup.com/kamagra-buy/ http://fountainheadapartmentsma.com/levitra-canada/ http://sci-ed.org/prednisone-coupons/ http://minimallyinvasivesurgerymis.com/minocycline/ http://fountainheadapartmentsma.com/product/movfor/ http://minimallyinvasivesurgerymis.com/lasix-capsules-for-sale/ http://fontanellabenevento.com/pill/molnupiravir/ http://oliveogrill.com/doxycycline-monohydrate-100mg/ http://americanazachary.com/drugs/clonidine/ http://disasterlesskerala.org/item/levitra/ http://bibletopicindex.com/propecia/ colours praziquantel mainstays urethra.