Cryptocurrency: WEF Davos - CBDC's To Cancel Credit Cards Within Five Years, and Replace SWIFT

grarpamp grarpamp at
Thu Jun 2 02:14:03 PDT 2022

Mastercard CEO: SWIFT Payment System May Be Replaced By CBDCs In Five Years

There has been a long list of revelations coming out of the recent
World Economic Forum meeting in Davos, but one issue that might have
gone under the media radar involves comments by Mastercard CEO Michael
Miebach during a discussion on the future of cross-border payments
between nations.

Miebach, participating in a panel on Central Bank Digital Currencies
at the WEF and hosted by the Global Blockchain Business Council, was
one of the few participants that was willing to suggest that the SWIFT
system, long dominated by western interests, might be made obsolete
along with the proliferation of digital currencies among central

Initially dismissed as “conspiracy theory” only a few years ago by the
media, whispers of CBDCs have suddenly gone mainstream and blockchain
technologies took center stage at Davos in 2022. The Federal Reserve
has even started active public discussions assessing the case for
retail digital currency products.

Few at Davos were willing to admit to the outcome that Mastercard's
CEO suggested, arguing that SWIFT would continue its prevalence for
decades. Yet, almost every major central bank in the world is now
pursuing a digital currency program, and the IMF has been exceedingly
vocal about the need for a global digital currency system in the near
future to provide “stability” in the face of national inflationary
crisis events.

In the last year alone we have seen a developing trend among Eastern
trade partners circumventing NATO sanctions in the wake of the war in
Ukraine. After being blocked from accessing the SWIFT transfer
network, which allows governments and central banks to quickly and
accurately exchange data and transfer vast sums of capital, Russia and
its allies are seeking alternative options. The Kremlin has talked
often about using crypto and digital currencies to bypass
restrictions, and China is currently establishing digital products to
work around SWIFT and the CHIPS settlement system (Clearing House
Interbank Payment System).

It would seem that western sanctions are only accelerating a global
move away from dollar denominated structures, but of course, this may
be exactly what global institutions like the WEF and IMF want. With a
host of new CBDCs in play, price fluctuations may be just as erratic
as they have been with Bitcoin and other cryptocurrencies. Meaning,
buying power would be far too unpredictable for the average consumer.
This sets the stage for groups like the IMF and WEF to “save the day”
by instituting a global basket system, likely under the SDR (Special
Drawing Rights) basket, in the name of homogenizing and stabilizing
various CBDC markets into a single centralized entity.

In the meantime, only a select few among the globalists at Davos are
willing to publicly address the real implications of CBDCs. The goal
of global economic centralization is touched upon, but only as a
consequence of the far distant future. Mastercard's CEO may have let
slip the truth – That the plan is for CBDCs to take over global trade
far faster than most people expect.

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