Bank of International Settlements, Basel, Switzerland
Technocracy: The Bank for International Settlements and four central banks will test the use of digital currencies for cross-border transactions, as global regulators seek to improve the speed of movement of money in a cheaper, more transparent manner.
The BIS Innovation Hub, along with Reserve Bank of Australia, Monetary Authority of Singapore, Bank Negara Malaysia and South African Reserve Bank, aims to develop prototype shared platforms for cross-border transactions using multiple central bank digital currencies, or CBDCs, the group of global regulators said in a Sept. 2 press release.
The proposed platform will allow financial institutions to transact directly with each other in the digital currencies issued by participating central banks, eliminating the need for intermediaries and cutting the time and cost of transactions, BIS said. The project will explore the international dimension of CBDC design and support the G20 group of nations’ effort to enhance cross-border payments.
The project is a “significant contribution” to the global vision to make payments cheaper. Read More …
Opinion: For the many skeptics out there who continue to argue with me that things will go back to pre-Covid normal, this post is for you.
That the road to complete government control of money is officially being paved by global money bosses in a Tower of Babel-like structure should send chills down the spine.
The BIS, Bank of International Settlements, mission: Support central banks’ pursuit of monetary and financial
stability control through international cooperation, and to act as a bank for central bankers.
A central bank, or reserve bank, is an institution that manages the currency and monetary policy of a nation, and is the bank for commercial banks.
The central bank of China has already introduced the digital yuan in test markets with the not so quiet intention of replacing the US dollar as world reserve currency.
When central bank digital currencies (CBDCs) are ready for use in the remaining 6 most powerful central banks, cash and non-central bank cryptocurrencies will necessarily begin to disappear.
- U.S. Federal Reserve System (Fed)
- European Central Bank (ECB)
- Bank of England (BOE)
- Bank of Japan (BOJ)
- Swiss National Bank (SNB)
- Bank of Canada (BOC)
- Reserve Bank of Australia–RBA.
“‘They will throw their silver into the streets,
And their gold will be like refuse;
Their silver and their gold will not be able to deliver them
In the day of the wrath of the Lord.” Ezekiel 7:19
The Day of the Lord, the 7 years of tribulation, will be a time when one monetary system by one central bank (or dictator) will be in total control of every financial transaction on the planet.
The catalyst to get there is found in Revelation 6:5-6 depicting a massive global economic crisis brought on by hyperinflation …
“When He opened the third seal, I heard the third living creature say, “Come and see.” So I looked, and behold, a black horse, and he who sat on it had a pair of scales in his hand. 6 And I heard a voice in the midst of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not harm the oil and the wine.”
Followed by Revelation 13:16-17 …
“He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, 17 and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.”
See how it ends in our paper “The 1% and Revelation: Do Not Harm the Oil and Wine” HERE