Global Currency changes coming in 2021/ 2022

This is just a mini-post noting upcoming currency changes by various countries.


Canada in January 2021 - In accordance with amendments to the Bank of Canada Act and the Currency Act approved by Parliament in 2018, the federal government recently decided to remove legal tender status from some older bank notes as of January 1, 2021. This change will affect the $1, $2, $25, $500 and $1,000 notes, which are no longer being produced. Essentially, this means that Canadians will no longer be able to use them in transactions.


Canada's Central Bank will use digital currencies as a "recovery strategy" from the fraudulent pandemic.


US in January 2021 - Automatic Boost to Communities Act, ABC Act, proposes monthly payments of $2,000 to America’s consumers during the COVID 19 emergency for a period of 12 months (or more).

What differentiates this proposal compared to the CARES Act is three fold:

  • ABC Act proposes payments for up to 12 months

  • Payments are to be paid through Digital Dollars through digital wallets called eCash Wallets

  • Includes non-residents who have been in the US for at least 3 months (whereas CARES Act excluded non-residents from payments)

More details about the Automatic Boost to Communities Act found here:


Russia in January 2021 - As China is actively testing its digital yuan, Russia is now planning to build and test a central bank digital currency, the digital ruble. Meanwhile, the Bank of Russia has proposed limiting the amount of bitcoin retail investors can buy.


The central bank of Russia has outlined its plans to conduct an experiment using the digital ruble with a limited number of participants after public consultations, Izvestia publication reported last week. The Bank of Russia announced the development of the digital ruble and public consultations on its issuance on Oct. 13. Public comments on the issuance of the digital ruble are accepted until Dec. 31.


UK in January 2021 - Andrew Bailey, the governor of the Bank of England (BoE), has revealed Britain’s intention to introduce a central bank digital currency (CBDC) as an economic pillar of life after Brexit.


Speaking at a Speakers for Schools webinar for students on 13 July, Bailey said a CBDC could be on the agenda in the next few years.


The BoE has been “looking at the question of, should we create a Bank of England digital currency,” he said.


More can be found from the BoE here. The new BoE system can be found here.


What does the IMF have to say about it?


With its universal membership and mandate for safeguarding international monetary and financial stability, the IMF is uniquely positioned to consider the macro-financial effects and policy implications of these developments in both bilateral and multilateral surveillance, and capacity development.


This document is THE most important document you can read to understand the position being taken by the people who assume they're in charge. Remember, not one country has voted to have this imposed. A Central Bank Digital Currency centralises complete power and control. The economy and everything in your entire life will never be private again. These oligarchs want to pretend a centralised digital currency has the potential to free us and improve competition. This is projection, as they know full well the opposite is true. It will not free us. We become a commodity, owned by the Central Banks.


Global Stable Coins


Stablecoins with the potential for global reach (“global stablecoins”) could help to address unmet consumer demand for payment services that are fast, cheap and easy to use and can operate across borders. However, while there is indeed the potential for such benefits, global stablecoins also pose challenges and risks. This article focuses on the asset management function of global stablecoins, assessing their regulatory and financial stability implications. We start by looking at how global stablecoins could be classified under the current financial regulations, arguing that regulatory gaps may exist with certain design features. We also discuss the financial stability risks posed by global stablecoins and estimate the potential size of a global stablecoin arrangement, using the Libra initiative as an example. We conclude that the malfunctioning of a global stablecoin’s asset management function could pose risks to financial stability given its potential size and interlinkages with the financial system. In order to reap the potential benefits of global stablecoins, a robust regulatory framework needs to be put in place in order to address these risks before such arrangements are allowed to operate.




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Summary


As you read on the BoE report, the Governments - under orders from the IMF will use covid-19 as the "road to recovery" from covid-19 (i.e. intentional draconian policies implemented to destroy our national economies for the purpose of creating this new controlled economic system.)


It should be quite clear there is a coordinated drive to transform the global economy, connecting all nation states currencies into one digitalised framework.


The consequences of which I hope are obvious.


  1. There is no more cash in hand. Everything is now taxed, tracked, traced and recorded.

  2. There is no privacy.

  3. This changes the relationship between the Governments/ Central Banks/ and the Citizens (Subjects.)

  4. This will lead to social credit systems we see in China.

  5. The CBs will have authority to withdraw funding, hold payments, take fines directly out of your account without notification and even prevent you from buying certain goods or in certain establishments.


Do not forget:


1. You have never been asked about this economic change.

2. No country has ever voted on this issue.

3. All Governments are coordinating to move into this system under IMF instruction.

4. The same people who have wrecked our economies will be in direct control of this new system.

5. The Central Banks, Big Tech and Multinational corporations who have raped and pillaged the people in every country, who made us debt slaves, will now use this fraudulent pandemic as the excuse to finally cement complete control.


Do not slip into economic slavery due to ignorance. Read the reports. There is so much more information to read. However, the links in this blog are a good starting point.


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Sources:


  1. BoE System - RS Coin - https://iohk.io/projects/rscoin/?fbclid=IwAR3vac5EJ2jl79emH5We4YkyMIJ_8MriaF9QvRIqT-cvqTGGIay2gu7LNl4

  2. E-Cash in 2021 - https://cryptotapas.com/digital-dollar-trillion-dollar-coins-ecash-wallets-planned-for-january-2021/?fbclid=IwAR21uoQAjPxlQ33KZ_-Z93K4p5kDRUniUhkiI0R22qvR3GPPwmnsjXjrtY0

  3. American ABC Bill - https://tlaib.house.gov/sites/tlaib.house.gov/files/ABCAct.pdf

  4. Bank of Canada legal tender changes in 2021 - https://www.bankofcanada.ca/2020/11/changes-legal-tender-status-take-effect-2021/?fbclid=IwAR1bo7s7-5Hy_dfZ4L2TfeJMElL3pHSfike_Su5NJ1lekkWhJu0I2aSpthA

  5. IMF, World Bank, G20 Countries to Create Central Bank Digital Currency Rules - https://www.coindesk.com/imf-world-bank-g7-countries-to-create-central-bank-digital-currency-rules

  6. Russia Central Bank Currency - https://news.bitcoin.com/digital-ruble-russia-central-bank-digital-currency/

  7. Bank of England Digital Currencies - https://www.bankofengland.co.uk/paper/2020/central-bank-digital-currency-opportunities-challenges-and-design-discussion-paper

  8. Pandemic recovery via digital currencies - https://www.bankofcanada.ca/2020/11/helping-economy-after-covid-19-pandemic/

  9. The IMF report - https://www.imf.org/~/media/Files/Publications/PP/2020/English/PPEA2020050.ashx

  10. Stable coin discussions by the ECB - https://www.ecb.europa.eu/pub/financial-stability/macroprudential-bulletin/html/ecb.mpbu202005_1~3e9ac10eb1.en.html