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THE NEW BITCOIN

The International Monetary Fund (IMF) is the BOSS OF BOSSES in the global landscape of money, and today they have made an offer that the world can’t refuse. The crypto market will soon be sleeping with the fishes with the arrival of THE NEW BITCOIN, which was announced by the Global Digital Currency Monetary Authority (DCMA).

The new currency, the Universal Monetary Unit (UMU), will strengthen the monetary sovereignty of participating central banks and comply with the current crypto assets policy proposed by the IMF.

Ladies and Gentlemen welcome to the Universal Monetary Unit (UMU), which most call THE NEW BITCOIN.

UMU has legal status and can be used in transactions with any accepted currency for settlement. It serves a similar purpose to a Central Bank Digital Currency (CBDC) by upholding banking regulations and safeguarding the financial stability of the global banking system.

While this is fantastic news, it’s a clear message to the crypto world that the IMF decides ‘what’s what around here’, so for those who thought Banks would vanish, think again.

Financial institutions can link SWIFT Codes and bank accounts to a digital currency wallet associated with UMU, allowing SWIFT-like cross-border payments to be conducted over digital currency rails, effectively circumventing the correspondent banking system. Transactions can be made at competitive wholesale foreign exchange rates with an immediate, real-time settlement.

Cross-border payments have traditionally been slow, expensive, and risky. To make matters worse, parties in different jurisdictions often rely on costly trusted relationships to navigate the need for a standard settlement asset and shared rules and governance. But what if a modern solution could improve cross-border payments while transforming foreign exchange transactions, risk sharing, and other financial contracting? A multilateral platform that acts as a universal translator could facilitate seamless communication between parties from different jurisdictions without costly intermediaries. Such a platform would simplify the payment process and provide a more efficient and cost-effective alternative to current payment methods.

This bold and powerful vision the IMF expresses is a loud, ‘god-like ‘message to central banks worldwide. The Bosses of Money have spoken, and that’s the end of that.

Many within the banking industry consider UMU outside the business of shaking up the international monetary system. On the contrary, it’s more like a trusted associate of the IMF, working closely with them to maintain economic and financial stability among member states. UMU operates like a capo in cross-border payments, changing the game and providing a solution that combats seasonal and systemic local currency depreciation. It’s a strategic move that enhances the stability of the international financial order and strengthens the reputation of the IMF as a powerful force in global finance.

So, what does this mean for the crypto market and especially BITCOIN?

 Because one significant observation needs to be made here, the legislation proposes that UMU should not be used as a legal tender to negotiate domestic prices or international trade agreements. Instead, UMU is suggested as a complementary money commodity that can act as a STORE OF VALUE, protecting against potential seasonal and systemic depreciation of local currencies. UMU can be used as a payment currency at settlement, providing an alternative option to traditional currencies.

If you need me to dump it down, it means they have their own BITCOIN.

As a commodity trader, I am excited that merchants and trading partners can now accept UMU at market value for their goods and services, regardless of the national legal tender used to price them. With premium exchange rates built into the UMU wallet, I can confidently convert any settlement currency amount to the equivalent UMU amount, knowing that I am getting the best possible value.

This offers a level of flexibility and security previously unavailable, and I am eager to take advantage of it. I can trade more quickly and efficiently with UMU without worrying about currency fluctuations or exchange rates.

So while we’ve all been scratching our heads about how we will step into this new Asset class, the IMF has now paved the way for us, creating a cryptocurrency designed to support central banking and regulated financial institutions. It has a trusted consensus protocol called the Staked Proof of Trust (SPOT) Protocol and a multi-dimensional Distributed Ledger Technology (mDLT) that can support any asset or liability ledger. These features allow UMU to provide full-service digital banking and facilitate international trade payments. In simpler terms, UMU is a new kind of cryptocurrency that can be used to support traditional banking and finance, making transactions faster and more secure.

As a commodity executive, I’m excited to see what UMU can do for cross-border payments and the stability of the global financial system. It’s a bold move by the IMF, and one that will have a lasting impact. UMU is not just a new cryptocurrency; it’s a powerful tool that can help transform the world of finance. The IMF’s announcement is a bold step forward in the pursuit of a more stable and efficient financial system.

“Finance is a gun. Politics is knowing when to pull the trigger.” – Don Lucchesi

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