The following report is by The Trends Journal:
Helping emerging nations create their own central bank digital currencies (CBDCs) will be among the topics on the agenda of the G7 group of leading wealthy countries when it meets this year to address the world’s rapidly expanding digital economy.
We have to address risks from the development of CBDCs by ensuring factors such as appropriate transparency and sound governance.
Masato Kanda, Japan’s vice finance minister for international affairs, told a 10 April seminar in Washington.
Japan is hosting this year’s G7 summit.
As a priority this year, the G7 will consider how best to help developing countries introduce CBDCs consistent with appropriate standards, including the G7 public policy principle for retail CBDCs.
He said.
SEE: BRICS Nations Discussing Working On A ‘Fundamentally New Currency’ According To Russian Official
The G7 has set common standards for CBDCs but the group is still developing strategies to address digital security, geopolitical divisions, and the risk that CBDCs could destabilize financial markets, Kanda added..
Almost every advanced nation is designing or experimenting with its own CBDC. China issued its digital renminbi for public use in 2021.
Last year’s collapse of FTX, one of the world’s largest crypto exchanges, “was a serious wake-up call” for nations to create common policies, Kanda said.
For crypto assets, there are diverging views among countries, but consensus is definitely that we need more regulation, particularly after the FTX shock.
He noted.
G7 members include Canada, France, Germany, Italy, Japan, the U.K., and U.S. The European Union also participates.
TRENDPOST: The Trends Journal has noted and predicted that there are incentives for weak currency nations to turn to cryptos. The move by G7 members, with relatively strong currencies, to entice developing countries to turn instead to CBDCs that can be controlled by entrenched financial powers, should come as no surprise. See “CBDC OUT TO PRESERVE STATUS QUO FOR HAVE AND HAVE NOT COUNTRIES, SAYS NEW STUDY” (24 May 2022) and “CRYPTO FLOWING TO DEVELOPING REGIONS” (24 Jan 2023).
The FTX debacle was not born of failures of crypt technology, but of more mundane human corruption that Biden administration regulators conveniently missed as Sam Bankman-Fried funneled money to Democrat coffers during the 2022 election cycle.
AUTHOR COMMENTARY
It’s just funny seeing all these struggling nations in the G7 preaching “democracy and freedom” still to supposed lesser nations. Honestly just makes me laugh.
But again, this demonstrates the push for the world to adopt a CBDC. Regardless if the US dollar is no longer the world reserve currency (and it won’t be), the replacement is still just a totally digital, fiat, slave system; where central banks can monitor and influence transactions in real time.
The rich ruleth over the poor, and the borrower is servant to the lender.
Proverbs 22:7
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
The WinePress needs your support! If God has laid it on your heart to want to contribute, please prayerfully consider donating to this ministry. If you cannot gift a monetary donation, then please donate your fervent prayers to keep this ministry going! Thank you and may God bless you.
Since this is already international, & not just national. They may play this dialectically yet further along the lines of the ‘sides’ outlined in Ezekiel 38, Isaiah 19, Psalm 83 etc with TWO international CBDC’s for awhile.
–
I’ve learned much recently from Eric Jon Phelp’s ‘Vatican Assassins’ historical research that explains & exposes much of how they’re all puppeted by the so-called ‘West’, Japhetic race men & nicolaitans, corporatists. Unfortunately, Phelp’s is a Protestant & Reformed spokesperson promoting intolerance in the bad old Augustinian way of the persecuting Daughters, and cannot be trusted by Bible believers as brethren. Since he advocates a ‘solution’ involving intolerance of ‘heretics’ as opposed to biblical reasoning & separating from: he is very useful to the dividing ‘builders’ who’ve rejected the chief cornerstone, bringing ‘civil war’ etc & his ‘movement’ will be easily absorbed into the Catholic antichrist one world system in the end. It’s inevitable.
–
However, I don’t think it is, or will be, waged solely on the scale of just a U.S. thing….and biblically, that would make sense. The U.S. as the nation used by the builders, the Jesuits & Satan deepest in & highest up, in the papist idolatrous humanist MYSTERY BABYLON THE GREAT system….the double-headed eagle heading the thing….will be judged as the Lord wills, and must be taken out of the way, but I don’t think it will be JUST the United States. What took done the US, infiltrating, dumbing down, demoralizing etc came via German & Great Britain’s philosophy & socialist corporatist agitations. Useful idiots & dupes mainly, some few knowing & managing, deeply initiated & given over of God.