Staff Reports
The International Monetary Fund (IMF) has declared that they are working on bringing in a global Central Bank Digital Currency (CBDC) platform. During a presentation in Morocco, Kristalina Georgievahe, the managing director of the IMF, stated that CBDCs need to be interoperable between countries and cannot be fragmented national propositions to achieve success. The IMF believes that a global digital currency would allow more people access to financial services and create more resilient and efficient payment systems. It would also simplify cross-border payments and remittances, according to the IMF report.
IMF Managing Director: "We Are Working Hard on a Global CBDC"https://t.co/OWnhrzHkVj
— The Daily Fetched (@DailyFetched) June 20, 2023
However, conservatives worry that a global digital currency in the hands of global elitists and entities like the IMF could usher in a techno-Communist dystopia, allowing everything people purchase to be tracked and linked to a CCP-style social credit score system. Rich Dad Poor Dad author Robert Kiyosaki recently issued a stern warning against CBDCs, arguing that it would result in unprecedented surveillance of Americans and the world, replicating a dystopian society depicted in George Orwell’s 1984. Sen. Ted Cruz (R-Texas) introduced a new bill to prevent the Federal Reserve from implementing a central bank digital currency that would eventually be used as a government surveillance system. Similarly, Rep. Tom Emmer (R-MN) introduced a bill banning the Federal Reserve from introducing CBDCs. Conservatives are advocating for individual freedom and entrepreneur empowerment, and not empowering the state.
"At the IMF we are working hard on the concept of a global CBDC platform": IMF Managing Director Kristalina Georgieva https://t.co/Py7JLMovuc pic.twitter.com/N6txNHBaaE
— Tim Hinchliffe (@TimHinchliffe) June 19, 2023
